As 49% is the maximum TNA that financial entities can apply, it remains in these if they apply a lower interest to their clients.
Last week, the Central Bank raised interest rates for Leliqs and fixed terms, which also forced the TNA on credit cards to move.
One of the reasons why the Central Bank was reluctant to raise the interest rate throughout all of 2021 is that it did not want to affect the cost of money and, therefore, economic activity.
A recent study by First Capital Group reported that consumer financing through credit cards closed 2021 with a year-on-year increase of 38.1%, well below inflation for the year.
“We find ourselves with a particularly weak December for the public’s debt with plastic money, the limitations and difficulties in using quotas in tourist services, prevented an expansion of this segment despite the greater volume reached by Christmas purchases”, assured Guillermo Barbero , partner of First Capital Group.
Source From: Ambito
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