Stats › Active, passive and flows › Consumer credit
Europe removed the lower limit on consumer credit regulation and brought deferred payment into scope, with a fifty day exemption
| Provision | 2008 directive | 2023 directive |
|---|---|---|
| Lower scope limit | credit below 200 euro excluded, Art 2(2)(c) | no lower limit; 200 euro survives only as a member state option to disapply certain provisions, Art 2(8)(a) |
| Upper scope limit | credit above 75,000 euro excluded | 100,000 euro, Art 2(2)(c), a nominal increase of 33.33 per cent |
| Credit free of interest and charges | excluded, Art 2(2)(f) | in scope, with only a member state disapplication option, Art 2(8)(b) and (c) |
| Deferred payment by the supplier | not addressed in these terms | exempt only where no third party supplies the credit, it is interest free, and payment completes within 50 days of delivery, Art 2(2)(h) |
| The same, for a supplier that is not a small or medium enterprise selling at a distance | not applicable | within 14 days of delivery |
| Deferred debit cards | not addressed | member state option where repayable within 40 days, Art 2(5) |
| Overdrafts repayable within one month | excluded, Art 2(2)(e) | not excluded; a reduced article set applies |
| Overrunning | a tacitly accepted overdraft, Art 3(e) | same definition, Art 3(19), with a reduced article set, Art 2(4) |
| Unsecured credit above 100,000 euro for home renovation | not applicable | carved back into scope, Art 2(3) |
| Withdrawal right | 14 calendar days, Art 14(1) | not verified; the article cross refers to an article that could not be read |
Directive 2008/48/EC, read end to end including its first annex, and Directive (EU) 2023/2225, which could not be read past Article 11 in any of three formats. Everything attributed to the 2023 directive here comes from its first eleven articles or from its recitals.
The old directive excluded credit below 200 euro and above 75,000. The new one covers everything up to 100,000, and exempts interest free deferred payment only where the supplier itself grants it and payment completes within fifty days.
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