A sign of the slowdown in consumption in recent months is the drop in the use of credit cardswhich according to the Central Bank grew only 1.1% in January, well below the inflation, and according to a report by the consulting firm First Capital rose 1.4% in February, accentuating the trend. This was reported by Fernando Meaños in Modo Fontevecchiaby Net TV and Radio Perfil (FM 101.9).
Beyond being a reflection of the economic situation, there are also other factors that have a negative impact on plastic money. The main one is that banks, to minimize risks, prefer not updating spending limits for its clients at the same rate of inflation.
In this way, buying an appliance in installments becomes impossible because even if the consumer is willing to assume the monthly payments, the spending limit prevents him from doing so.
Inflation, gradually, was deactivating fixed fee plans, promotions and even hit the “Now plans” of the Government. He also raised the fees to finance the summary in case of making partial payments.
Larreta announced the elimination of the tax on credit cards
In addition, the credit card competes more and more strongly with other means of payment such as the QRlas transfers and debit cards.
In the latter case, a common reflex in times of crisis is also observed in the consumer: Priority is given to using the debit cardto spend only what is in the account, instead of doing it with the credit without knowing how the pocket will be at maturity.
At the same time, the Buenos Aires head of government, Horacio Rodriguez Larretamade an announcement today that may encourage its use: it will send a project to the Legislature to repeal the 1.2% stamp tax that pays for every credit card purchase made in the city.
JL
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