President Lula said on Thursday (1) that the government is discussing with the Central Bank the possibility of limiting the number of credit cards banks can offer each person, aiming to curb household indebtedness.
He made the statement during an interview with Flow Podcast, noting that high interest rates on revolving credit and the practice of banks issuing cards without consumer request exacerbate debt.
Limite de cartões
According to Lula, the proposal would allow only one credit card per client. He cited a case where an individual received four cards and accumulated a debt of R$ 80 mil, illustrating the risk of multiple lines of credit.
The president highlighted that the annual interest rate on credit‑card revolving balances can reach 449.4%, making it one of the most expensive financing options available to consumers.
Lula emphasized that the discussion is still at the negotiation stage with the Central Bank and that no timetable or detailed regulatory framework has been presented yet.
Impacto nas famílias
If implemented, the measure could force banks to redesign their product portfolios, potentially reducing the ease with which consumers acquire additional credit and, consequently, the overall level of household debt.
The proposal still requires formal approval and the definition of enforcement mechanisms, leaving the timeline uncertain while the debate continues within the executive and the regulatory authority.
Banking associations have not yet responded publicly to the proposal, and analysts note that limiting card issuance could reshape credit market dynamics without necessarily lowering existing interest rates.
The government has indicated that the initiative is part of a broader effort to protect families from predatory lending, but the lack of a defined schedule means consumers will have to await further regulatory clarification.
