Revolving credit is defined as consumer credit that charges interest and is either of an indefinite duration or of a defined duration that is automatically extendible, granted to natural persons in which the credit provided is not fully repaid at the end of the agreed period. So, the credit limit available decreases as you draw on it, mainly through the acquisition of goods or services, cash withdrawals, or transfers of the credit granted. In turn, the borrower will make monthly payments (revolving payments) that correspond, in this order, to the following concepts: payment of interest (remuneration), fees, expenses, compensation and capital repayments.
Yes, you have 14 calendar days to inform the institution that you wish to withdraw from your credit agreement from the date it was signed or, if later, from the receipt of the contractual terms and the mandatory information required under the applicable regulations at any given time.
You may withdraw from your contract without giving any reason and without penalty by contacting the institution in the following ways:
If you exercise your right of withdrawal, you must reimburse, without undue delay and no later than thirty (30) calendar days from the date of sending the withdrawal notice, the amount of any drawdowns made on your credit line and the daily interest accrued on that amount, calculated at the applicable contract rate, from the date the credit was drawn down until the date the capital is effectively repaid.
You can cancel your card through our Customer Service Department by calling 91 048 30 30.
The card settlement statement (or Billing) includes all details of the transactions according to the card’s payment method: Deferred Payment or Revolving payment mode, as well as the status and the available and drawn amounts of the credit line.
You will receive this statement monthly.
You will receive periodic information on a quarterly basis regarding the status of your credit, and if at any time you wish to request it in paper format, you may do so by calling 91 048 30 30.
Additionally, if you wish, you may request at any time the information specified in section 1 of Article 33 sexies of Order EHA/2899/2011 regarding your credit under the revolving payment modality. The institution will provide this information within a maximum period of five business days. Specifically, you may request detailed information on the amounts paid and the outstanding balance to date, or an amortization schedule with the installment applicable at that moment, among other information related to your credit.
To request this information, you can do so by calling 900 813 576.
The settlement of your card balance will take place between the 26th of the month and the 25th of the following month. The revolving installment will consist exclusively of interest and principal. Payments made will be allocated, first, to cover the amount of interest; second, to the repayment of principal; and third, to the payment of any applicable fees and expenses.
The credit has an indefinite duration, and as long as you continue to make drawdowns, statements will continue to be generated.
The statement will be submitted for payment between the 1st and the 5th of each month.
To request a transfer of the available balance from your card to your account, you can do so in the following ways:
Please note that all cash withdrawals made at any ATM or transfers are subject to a 4% fee on the amount withdrawn, with a minimum charge of €3.
Applying for credit should be a carefully considered decision on your part as a customer, and you should be sure that you will be able to meet the repayment of the credit installments. If, for any reason, you are unable to make the monthly payment of your financing, the institution may charge you the expenses incurred in carrying out actions to recover the unpaid debt.
These expenses are called “charges for the recovery of overdue positions” and their amount is set out both in the pre-contractual information provided to you before signing the agreement and in the contract itself.
Furthermore, if at least three consecutive monthly installments of your credit line, or the final installment, remain unpaid, the institution may declare the agreement due early and require payment of the entire outstanding principal, together with accrued and unpaid interest, as well as any applicable fees and expenses.
Finally, you should bear in mind that by signing the contract, you assume a payment obligation with the institution, and failure to comply may have serious consequences, such as legal action to recover the debt or the possibility of being listed in creditworthiness and asset solvency databases, which may hinder your ability to obtain financing in the future.
You can change your monthly repayment as often as you need to, according to your personal circumstances at any given moment, always with a minimum monthly payment of 4% of your credit line, with the purpose of reducing the risk of excessively extending the debt repayment term. You can do so by calling our customer service line on 900 813 576.
You can fully or partially repay the balance on your line of credit, without any early repayment fees.
Every time you use your credit, the amount available decreases, and every time you pay your monthly instalments, you repay your debt and so the amount available to use increases once again.
You can choose to pay for a specific purchase through “Deferred Payment”. In this case, you will have a specific monthly payment with specific duration, additional to the monthly payment for your revolving credit.
If you do not yet have a card, you can request one via online banking, the Cajamar App, or by calling 910 483 030, and the money will be deposited into your account. If you already have a card, you can withdraw cash at an ATM or use the card to make purchases either in physical stores or online.
You can apply at any branch of Cajamar. With the card, you can use your line of credit in shops, for online purchases and at ATMs, plus there are no issuance or maintenance fees.
Yes, we have the option of taking out life insurance and payment protection.
