2021 was the year of economic reactivation in the country. Effect noted in the use of Credit cards by the citizens.
Last year spending with this mechanism was 84 billion pesos, according to figures from the Financial Superintendence. This is 31.3% more than 2020, but 2% less than the consumption registered in 2019, which reached 85.7 billion.
(Read: The financial products with the highest profits in 2021).
Now, December 2021 reached a historical balance of 9.1 trillion of pesos of expenses with this means of payment. A figure that could be enough to build three commuter trains, worth 3.6 billion, according to ‘El Tiempo.
Although it was thought that the country was still going through an economic crisis, there are several factors that users were encouraged to this consumption. The low interest rates, the reactivation of different sectors, the repressed spending in some households and the days of the day without VAT.
During the pandemic, consumption with credit cards dropped more than 25.4% compared to 2019. In 2020 an expense of 64 billion pesos was recorded.
Its rebound, during 2021, began to be seen since April when a monthly consumption of 5.5 billion was recorded.
(What’s more: Complete guide to invest in the stock market: keys and tips to do it).
Along with this, the balance of the Superintendence shows that in the last month of the year, Colombians with a card spent, on average, about 239,550 million pesos each day. per hour would be about 12.231 million and 204 million per minute.
At the end of last November, for every 100 pesos lent through credit cards, 5.8 pesos were overdue for more than 30 daysabove the average of 4.79 pesos for the entire system’s consumer portfolio.
December 2021 reached a historical balance of 9.1 billion pesos of expenses with this means of payment
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“It should continue to grow (card consumption), but not at the speed and rhythm that it brought. The increase in interest rates (by Banco de la República) continues to be expansionary but much less, although it is expected to discourage demand and thus credit”, warns a banking source consulted by El Tiempo.
(What’s more: Spending in 2021 grew in Colombia, but not in all households).
Indeed, last year Colombians spent with their cards, on average each month, about 7 billion pesosabout 231,000 million per day or about 9,560 million every hour.
BRIEFCASE
With information from El Tiempo*
