2023-05-23 09:36:00
8.4% In a normal country, no one would associate that number with monthly inflation. In Argentina it is not only a description of what happened in April, but unfortunately it seems to be the prelude of what is to come.
Inflation is often defined, in simple terms, as a loss of purchasing power. For this reason, and in order to avoid a sharp drop in consumption in an election year, the national government decided to implement measures tending to stimulate it.
One of them is the lowering of the interest rate of the so-called “Now 12” plans, a program so that people can finance purchases of goods of national origin at a differential rate in 3, 6, 10, 12, 18 and 24 fixed monthly installments with a credit card. That differential rate would now be even lower.
“Ahora 12” is a program so that people can finance purchases of goods of national origin at a differential rate in 3, 6, 10, 12, 18, 24 and 30 fixed monthly installments with a credit card.
The interest rate drop is 9 percentage pointsand such cut is applied to the maximum nominal annual rate (TNA) that the participating businesses can apply to their customers.
Although there are places (fewer and fewer) that offer interest-free installments, so far the maximum rate they might charge under Ahora 12 was 81.75% nominal per year. With the drop in interest, the maximum rate became 72.75% annual nominal.
- 72,75%
- It is the maximum annual nominal rate that businesses adhering to Ahora 12 can charge their customers.
To illustrate this, if you made a purchase of $10,000 With the Ahora 12 plan, and they apply the maximum admissible rate, the fees would be approximately as follows.
– 3 fixed installments of $3718.60.
– 6 fixed installments of $2065.70.
– 10 fixed installments of $1271.20.
– 12 fixed installments of $1178.11.
– 18 fixed installments of $1039.80.
– 24 fixed installments of $954.90.
The products included are only of national origin, and can be purchased online and in affiliated stores throughout the country, identified by the program poster in their windows, 7 days a week, with all the credit cards with which the business is affiliated.
More limit for credit cards
On the other hand, as part of the measures tending to stimulate consumption, it was also decided to increase the limits of purchases with credit cards. The increases will be 25% in one payment and 30% in installments.
Thus, if until today you had a ceiling of $50,000 for purchases in one payment, for example, now it will become $62,500 (the $50,000 is multiplied by 1.25). Likewise, if, for example, your limit for purchases in installments is $75,000, it will become $97,500 (the $75,000 is multiplied by 1.30).
Keep in mind that if you make a purchase in installments, the first one will be deducted from your available in one payment, while the rest will be subtracted from the available in installments. Going back to the example of Now 12, if you make a $10,000 purchase in 6 installments with this program, an installment of $2,065.70 will be deducted from your limit in one payment, while the equivalent of 5 installments ($10,328.50) will be subtracted from your ceiling for purchases in installments.
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