Caisse offers a bank card formula associated with revolving credit, a practice which can mislead consumers and which does not seem to comply with legislation.
Best Lend Low-cost card but… with a revolving loan
We had the return of a Caisse customer who was offered by his advisor an Best Lend card offer . The latter has lower costs and an additional 2-year warranty extension for all household appliances.
A very attractive offer because it also makes it possible to pay immediately in cash or deferred. This deferred payment is possible thanks to the revolving loan which is inseparable from the Best Lend card offer .
In other words, according to the Lagarde and Hamon laws , it is mandatory to offer a consumer credit contract offer at the same time as a revolving loan offer, allowing the borrower to better assess the cost of his credit.
Revolving credits with Best Lend card: a scam?
The client was not clearly informed from the outset of the revolving credit offer, the advisor first presented the benefits provided by Best Lend card (reduced fees + guarantees + possibility of deferred payment). It was at the conclusion of the Best Lend card contract that the revolving loan offer was presented.
Thus, the obligation to provide information on the commitments and risks associated with this operation is not frankly respected. By closely studying the credit contract offer , we can see that Caisse offers it as a banking intermediary mandated by the lender Natixis Financement. This means that Caisse benefits from a commission (mandate) for the conclusion of these contracts. This operation can lead to believe that the advisor is commissioned on the sale of Best Lend card products with revolving loan…
Solution to these offers inseparable from a revolving loan
We advise our readers to be very attentive to these offers where the revolving loan is inseparable. This is not an isolated case, many consumer players offer loyalty card offers associated with revolving loans .
The borrower must be aware of this commitment and understand that the rate offered is often around 20%. A deferred reimbursement which can be expensive .
We remind you, a credit commits you and must be reimbursed. Check your repayment capacity before you commit. In case of accumulation of credits , the grouping of credits may be an alternative to consider, a request page is available.