I wrote in money he
From January to April this year, 22.1 million credit cardsA growth of 9.3% compared to the number of plastic materials in the same period of the previous year. But balances have accumulated at P418.4 million, P6.6 million less than in 2018, according to Bloomberg News. PBVA research. This means that banks grant lines of credit that are more in line with people’s ability to pay.
“If you’re reaching low-income customers, the logical thing is to give them smaller lines of credit.” PBVA.
Theoretically fintechs They are giving low lines of credit to serve the bottom of the pyramid, so the trend of credit lines has decreased. The same thing happens with banks offering more plastic, although with fewer lines of credit in order to encourage good behavior with money. credit.
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It is during pandemic Demand was restricted and funding was provided. By 2022, credit card employment rose due to good performance in formal employment and a recovery in real wages, according to a new report. PBVA research.
According to data from National Banking and Securities Commission (CNBV) Demand for credit cards It remains at its highest historical levels, and by the end of the first half of the year, the trading volume of this type of plastic reached 32 million 663 thousand and 705.
The behavior of the Account holders
Gross customers, those who pay the entire account on their card, accounted for 2.6 percentage points of growth, while non-gross customers, who pay only the minimum and earn interest, accounted for 6.3 percentage points.
The average credit limit for non-aggregate customers decreased to P51,385 from P54,765 in 2021. Due to the presence of a larger number of non-aggregate customers, the interest rate also increased to 50.7% from 45.6% previously.
According to PBVA“New credit origination is structured differently with longer terms and smaller amounts with the goal of having good payments and healthy credit.”
Analysis conducted by the platform Google He revealed that in the past five years people’s interest in obtaining… Credit card Proof of this is that searches for this product increased by 40 percent between 2018 and 2022.
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