Russians' credit card debt has almost reached a record Br5 trillion. The debts of compatriots have grown almost 1.5 times.
The reasons are inflation, growth of consumer demand. The country's residents have almost no alternative, and they take out loans at high interest rates.
The number of cards issued over the year reached 82 million (16% growth). The debt on loans reached Br4.8 trillion (+42%, which is 1.4 times more than in 2023).
According to PSB-bank, the average check on cards increased by a third. The average limit on applications increased to Br168 thousand from Br48 thousand.
As “Izvestia” wrote, credit cards are in demand due to high rates on consumer loans and high inflation expectations.
Interest on credit cards is not charged during the grace period. The full cost of credit is 23-40%, and consumer loans - 40-60% per annum.
But at the same time, the level of overdue debt is growing in the country.
Earlier explained how to use a credit card to avoid debts.
By the way, Russian banks rejected 90% of applications for credit vacations.