The increase in the cost of living in the country, reflected in higher inflation growth, has led to the adoption of measures to curb consumption; thereby seeking to mitigate the indebtedness of Colombian households.
This has led the Banco de la República to significantly increase the interest rate, which for December was 12%. in tune, The Financial Superintendency adjusted the usury rate, which is the maximum value or limit that can be charged for a bank loan. In this case, the regular entity of the financial system established this rate at 41.46%.
Taking the above into account, a survey carried out by The Republic It reveals which are the financial entities that have the highest usury rates, with respect to the credit cards they offer to their clients; so buying with these products will be more expensive compared to other similar ones that exist in the market.
In the top 5 of the most expensive credit cards in the country and that will become a benchmark in terms of expenses and economic impacts for the pocket of Colombians in the coming year, are: Scotiabank Colpatria (41.45%), Banco de Bogotá (41.43%), Banco Pichincha (41.42%), Banco Itaú (41.40%) and Banco Falabella (41.39%).
in dialogue with WEEKthe financial adviser and expert in economic issues, Andrés Moreno, explained that The current situation that the country is going through means that people end up paying much more than they would like for the loans they acquireas in the case of credit cards, which They are nothing more than a consumer credit in the pocket that must be used intelligently.
“The first thing is that the proper use of financial products is not the fault of the banks, but of oneself as a financial consumer. The high interest rates in the world have to be read as a change in the behavior of people when it comes to spendingAlthough a year or two ago there were very good rates to buy a house, to finance oneself or to ask for a loan, that is not a reality today”, he said.
Therefore, he called on Colombians to be moderate in the use and management of this type of product, since exceeding it might mean a hard blow to finances, especially for the year that is regarding to start. “Understand that if you do not come with a correct financial planning from months ago or that If you had any spending or financial problems, it is best to be clear that this is not the time to go out and buy with credit cards, People who use credit cards must already have the money or use them for a fee, only as a means of payment,” he said.
In contrast to the most expensive credit cards, a ranking prepared by the portal Rankia It allows us to identify which banks in Colombia offer this type of credit products, with the best usury rates. According to the portal, entities such as Banco Caja Social, Coopcentral, Finandina, Banco GNB Sudameris and Davivienda, They have rates below 40%, and the maximum ceiling established by the Superfinanciera.
“Credit cards are a means of payment to make purchases online, to access a trip, to have a financial organization and, for example, if the card is marketed, to really know how much everything cost. If you are going to pay something with automatic debit, then the card should be that tool so that you do not have to do it, what is wrong is that you go to 24 or 36 installments”, concluded the expert.
