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Japanese Consumers to Gain Internet Access to Aggregate Credit Card Charge Data
Source: japantoday.com
Source Date: Monday, August 09, 2010
Focus: Institution and HR Management
Country: Japan
Created: Aug 16, 2010

Consumers will be able to check for themselves on the Internet how much they have been charged on their multiple credit cards and other relevant credit data held by card issuers possibly from fiscal 2011, according to industry sources.

The move is intended to address an increasing number of inquiries from consumers who want to know the aggregate balance of their charges or why their attempted credit purchases have been rejected, following the enforcement in June of a tightened money lending law.

Credit Information Center Corp, which gathers personal information on credit transactions from credit card issuers, will start a trial run of the service in December to verify user identification, the sources said

CIC, based in Tokyo, currently provides personal credit card data to individuals but only when they visit one of its offices in Tokyo or six other cities in person or ask it to mail the information, which takes around one week.

The Internet disclosure service would cover billing data, balances and past payment records including delinquencies, if any, held by multiple credit card issuing companies, the sources said.
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