Revolving credits: usury and transparency

Abstract

Credit and revolving cards are currently the subject of extensive litigation. The SSTS of November 25, 2015 and March 4, 2020 have tried to resolve and establish doctrine in relation to the usurious nature of these contracts, but this doctrine does not establish specific criteria, generates uncertainty and legal insecurity and has been developed committing various errors, which have received much criticism. This paper will analyze what they consist of and what are the characteristic notes of those credits and revolving cards, as well as the controversy currently linked to them, mainly regarding the usurious nature of the anticipated interests, based on the literal wording of the Repression of Usury Law of 1908 and the jurisprudential doctrine issued on this matter, fundamentally the referred SSTS of November 25, 2015 and March 4, 2020. Likewise, the application of transparency control in these cases will be briefly commented, as well as the Existence of new rules on information, publicity and solvency assessment that entered into force in January 2021.