Civil liability for illegal credit card inquiries (comparative study)

Abstract

The credit card is one of the modern means of payment, which has achieved many advantages for all its parties. For the customer, it is a credit tool that enables him to obtain cash liquidity within a pre-determined limit. It also enables him to obtain many of the goods and services that he needs in exchange for paying for them in the form of Instalments, in addition to that, it avoids the risks of carrying money, and for the merchant, it is a means that works to increase the volume of sales, without bearing the risks that result from establishing his credit system, that is, it saves him the cost of private credit and avoids the troubles of difficult debts for customers. As for the source, the credit card is one of the means of increasing profitability, as the issuer receives interest in exchange for the credit granted to the customer. In addition to the annual renewal commission, this is in addition to the commissions it charges from the merchant according to the value of the invoice. Banks issuing credit cards also aim to obtain indirect benefits from the increase in the number of customers who deal in its name and frequent it, and then resort to it in completing their banking business. This will ultimately lead to increasing the bank's profitability, thus maximizing the owners' wealth