Details: Over a month, the rate of credit expenditure increased by 1.9% and became record-breaking compared with the beginning of 2022, when it was 31.6%.
Russians have been increasing the proportion of credit card limits used almost non-stop since August 2023.
Oleg Lagutkin, CEO of Scoring Bureau, states that Russians’ credit card spending has increased due to the rise in consumer prices.
In August 2.05 million new credit cards worth US$2.5 billion were approved for Russians.
The year-on-year drop was even more tangible: the number of credit cards decreased by 20.9%, and the total approved limit by 11.6%.
Over a year the number of credit card holders in Russia has increased by 6.6 million people, or almost a third.
Background: According to the results in June, the total amount of Russians’ bank loans exceeded 40 trillion roubles (US$0.46 trillion). »