More and more Argentines are abandoning the use of the credit card credit to finance and in the last 5 years, almost 4 million discarded this methodology. Financial entities adjudicate the situation to the rate ceiling imposed by the government, which discourages entities from renewing, especially the sectors with lower incomes.
Despite the progress made by the payment system through digital media, which deepened with the pandemic, the number of credit card users credit dropped by 17%and went from 21,720,000 people in 2018, to 18,027,000 today.
The traditional payment and financing instrument lost ground in a huge segment of the population, according to a study published by the Chamber of Cards of Credit y Compra (Atacyc), reflects that Of the total number of Argentines who have left the system, 96% belong to the most vulnerable segments of society, with medium and low incomes..
The measurement details that in high and medium income levels there was no impactHowever, 90% of users who fell out of the card financing system are located in the medium-low and low range.
In it Finance system they insist that the main cause is high and rising inflationand the imposition of low rates that forces many banks to remove the plastic from customers with the highest credit risk.