Credit Card Transactions Increase 6.7% in April: First Capital Group Report

Las transactions where they were used Credit cards they had a 6.7% increase in the month of April compared to March, while the year-on-year increase was 84.7%.

The indices were published by the private consulting firm First Capital Group (FCG).

As detailed, last month there were registered operations for $2,606,987 millionwhich means a nominal increase of 6.7% compared to the end of last month, some $163,089 million above March and very similar to the expected inflation values ​​for this period.

Meanwhile, year-on-year growth reached 85.7%, below the levels of inflation estimated for the year, with a drop in the portfolio in real terms that suggests a “difficult situation that could affect the future of the credit card market.” credit,” the FCG report said.

“If we limit ourselves to the analysis of the variation of the last month, we observe portfolio stability in real terms, although the factors that limit growth have not changed, such as the rise in the cost of financing, the lower offer of installments, the limitations in family budgets, the decrease in the number of cardholders and prudence in the face of risk on the part of financial entities; credit limits begin to be gradually updated as the year goes by, although not massively,” said Guillermo Barbero, a partner at FCG.

Meanwhile, the use of credit cards in dollars registered an interannual decrease of 9.3%, although with an irregular monthly behavior: In April there was a decrease of 0.9% compared to the previous month, with a balance of US$ 225 millions.