Credit cards in dollars had irregular behavior in the last month of the year, and fell 6.4% while consumers adjust to the new regulations.
Due to the reduction of the COUNTRY Tax, operations with dollar credit cards showed irregular monthly behavior. Although they recorded a year-on-year increase of 68.3%, in December they showed a decrease of 6.4% compared to the previous month, with a final balance of US$483 million.
“In addition to the decrease in the exchange rate used to pay consumption, driven by the elimination of the PAIS Tax, Added to this are the opportunities for summer trips to neighboring countries and purchases abroad, which could contribute to recovering balances in the coming months,” said Guillermo Barbero, Partner at First Capital Group.
This behavior reflects seasonal dynamics and market adaptations to recent changes in economic and exchange policies.
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What happened to operations with credit cards in pesos and the expected effect with Cuota Simple
In December, the operations with credit cards in pesos reached a balance of $15.5 billion, marking a nominal increase of 8.5% compared to the previous month and a year-on-year growth of 188%, driven mainly by Christmas sales.
Credit card operations in pesos ended December with a balance of $15.5 billion, which represents a nominal increase of 8.5% compared to the end of November and clearly above the expected inflation for the period, FCG reported. In year-on-year terms, The growth was 188%, which is equivalent to an approximate real increase of 31%.
“Christmas sales gave a new boost to this segment, but we will see in the coming months how the market replaces the offer presented by the ‘Simple Quota’ operation and if it is capable of maintaining nominal and real growth”said Barbero.
What happened to dollar credit cards
In contrast, operations with credit cards in dollars showed irregular monthly behavior. Although they recorded a year-on-year increase of 68.3%, in December they showed a decrease of 6.4% compared to the previous month, with a final balance of US$483 million.
“In addition to the decrease in the exchange rate used to pay consumption, driven by the elimination of the PAIS Tax, Added to this are the opportunities for summer trips to neighboring countries and purchases abroad, which could contribute to recovering balances in the coming months,” Barbero concluded.
This behavior reflects seasonal dynamics and market adaptations to recent changes in economic and exchange policies.
Source: Ambito
