The Chile Financial Market Commission announced that the first phase of its regulation on minimum payments for credit cards will take effect on June 4, 2026. The measure, issued under powers granted by Chile’s 2024 over-indebtedness law, sets a mandatory formula for the minimum amount due and starts with transitional treatment for interest free instalments, so only 5 percent of their value is included in the minimum payment at this stage. The formula sets the minimum payment at 100 percent of the non financeable amount plus 5 percent of the financeable amount. Interest, fees and other charges are part of the non financeable amount, while the financeable amount is the rest of the billed balance. In the first phase, all interest free instalments are included in the financeable amount. Starting six months after June 4, 25 percent of those instalments will move into the non financeable amount every six months until they are fully included on June 4, 2028. The rule also establishes a minimum payment threshold, although financial institutions may set a higher amount in their own policies. The commission said it will monitor the effects of implementation and will request detailed information from card issuers in the second half of 2026 to assess the impact of the new regime.
Chile Financial Market Commission2026-05-29
Chile Financial Market Commission confirms June 4 start of first phase of credit card minimum payment rule
The Chile Financial Market Commission will implement the first phase of its new minimum credit card payment regulation on June 4, 2026, under powers from the 2024 over-indebtedness law. The rule sets a mandatory formula requiring 100 percent of the non financeable amount plus 5 percent of the financeable amount, with a phased reclassification of interest free instalments into the non financeable amount through June 4, 2028. Institutions may apply higher minimums. The Commission will monitor implementation and collect data from card issuers in the second half of 2026 to assess the regime’s impact.