24hoursworld

Lower BCRA rates: how much cheaper it will be to finance with a card after the Government’s decision

Lower BCRA rates: how much cheaper it will be to finance with a card after the Government’s decision

The monetary authority lowered its reference rate by 10%, to 70%, and as a consequence, it became cheaper to buy in installments with credit cards. How much will the rate of the three and six installments of the government plan be?

With the decision of the Central Bank (BCRA) to lower the reference rate 10% from 80% to 70%, the fixed terms in pesos lose profitability. But it is not all bad news, since it is also It will be cheaper to finance yourself in installments with Simple Installment.

The government program has the same coefficient as the monetary policy rate. For this reason, every time the BCRA lowers the rate, It also transfers the financing cost to pay in installments with a Simple Installment.

However, those who need to buy with the 3 and 6 installment program it is recommended Wait a few days, until Tuesdaysince after that day the withdrawal of financing will begin to take effect, as confirmed to Ambit a high source of economic equipment.

Simple Quote: February sales fell more than 30%

In February, the first month of the launch of Simple Fee there was a sales volume of $396,059 million, which implies a increase of 78.3% year-on-year regarding the program Now 12well below the inflation that in that month was 276.2% (ia), and 4,851,824 operations. This implies a decrease of 30.1% year-on-year.

Among the reasons that explained the drop in sales, the lack of updating of available space for card payments in tune with the inflation. For this reason, the economic cabinet asked the banks to adjust these limits, but the entities told them that it is an issue to be analyzed.

Banks’ strategy: why don’t they raise the card limit?

For their part, the bankers took note of the issue, but said that it is a decision for the entire industry, therefore, they must consult with national banks, foreign banks and public banks. Likewise, in the midst of the economic crisis, entities are trying to ensure that their default rates do not increase.

Source: Ambito

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest Posts