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Regarding purchases in dollars, credit cards registered a year-on-year increase of 48.7%. Photo: archive
The use of credit cards for purchases in pesos ended 2023 with a year-on-year growth of 149.5%, below the estimated inflation levels for the year, according to a report by First Capital Group.
In December, credit card operations reached a total of $5,371,716 million, which means a nominal increase of 6.7% compared to the end of last month, also below the expected inflation values for this period.
“The almost disappearance of alternatives to pay in interest-free installments has contracted the portfolio in real terms; the lack of updating credit limits has also conspired against the use of plastic,” explained Guillermo Barbero, partner at First Capital Group.
Regarding purchases in dollars, credit cards registered a year-on-year increase of 48.7%, although with an irregular monthly behavior alternating increases and decreases.
In December there was a decrease of 32.5% compared to the previous month, reaching US$287 million.
In this regard, Barbero explained: “Just as last month there was a paradoxical incentive to use cards to pay for consumption in foreign currency, this month using them implies paying an exchange rate much higher than the market rate.”
“Let’s hope that these imbalances do not continue to be repeated because they surprise the consumer, who is unable to assimilate the changes that are occurring in banking and tax regulations,” he concluded.
Source: Télam
2024-01-06 17:58:35
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