Mexico City.- Currently, the proportion of total credit card customers is high, that is, those who pay their debts in total and do not generate interest at the normal or preferential rate, the Association of Banks of Mexico (ABM) has indicated.
According to the organization, the proportion of totaleros is expected to increase from 31 percent in June 2010, when there were 11.8 million credit cards in the country, to 58 percent by June 2023, with 22.9 million cards held.
In the ABM measurement, late payment cards and excess cards are excluded.
In this sense, he pointed out that the increase in total customers is due to improved user behavior, as there are more and more people who use their plastic only as a means of payment, and not as a means of financing.
“The increase on the consumer side has happened in a very responsible way because we can clearly see how the totalers increase, who pays 100 percent, or what is the balance so that interest is not generated, which we all know very well. Know credit card account details.
Julio Carranza, president of the organization, commented, “So this is a very prudent, very rational, very fair way for consumers to use credit cards and we believe it is very good for consumers and also for the market. Is.”
In its Mexico Banking Outlook report for February 2024, BBVA highlighted that the growth of the wage bill and general economic activity during 2023 allowed private consumption to maintain its strength, which influenced the growth of loans to households. Done, especially through credit cards and payroll loans. ,
He indicated that the performance of the credit card financing segment, a product that represents 38 percent of the total consumer credit portfolio) is something that grew at a real annual rate of 14.4 percent in December 2023, when compared to the same period last year. The variation was 12.4 percent.
He indicated that with the December result, this portfolio managed to achieve double-digit real growth over 15 months, reaching a maximum in September 2023, when a real rate of 17.3 per cent was observed, gradually increasing its dynamics. Decreased.
Thus, the average real growth rate in 2023 was 15.5 percent, the highest in the last 10 years, BBVA highlighted.
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