Maximum cost of credit of OP credit cards

Credit cards are subject to price regulation — maximum credit costs have been set by law. If the costs of your credit card exceed the so-called cost cap during the year, we will refund the excess amount.

What is the cost cap all about?

The cost cap applies to credit card agreements made as of 1 September 2019. Based on the credit limit, a maximum cost is set for credit cards under the Consumer Protection Act.

We charge a maximum of 150 euros per year in total costs for credit. These costs are also subject to a maximum amount tied to the credit limit. The cost cap particularly benefits customers who often transfer credit to their account or use a credit card to withdraw cash at ATMs. 

Which costs do we take account of in the cost cap?

When calculating the cost cap, we include items such as the card’s monthly charge, the account service charge, charges for transferring credit to an account and costs incurred by withdrawing cash from a credit card at an ATM. We do not include credit interest.

Charges for using the credit facility are itemised on the credit card bill. A monthly charge for the card is included: €2.95 for OP Visa cards and €4.00 for OP-Mastercard.


How do we refund costs?

If the costs of your credit card exceed the cost cap during the year, we will automatically refund the excess amount. Your credit account will be refunded, meaning that the refund will show on the credit account’s transactions and your bill.