In this way, it is more convenient than taking out a personal loan, whose rate is almost double that of the minimum payment, being 78% per year, and ending in a total financial cost of 148%, which varies according to the bank and the client in question.
Consumption with card data: data for November
The Average real growth in total card consumption was 0.1% year-on-year in the first three weeks of November, while “expectations are maintained that the level of activity will continue above the pre-pandemic record,” according to a report by the bank BBVA Argentina.
Although the performance of these operations was classified as “weak”, the analysis found that “the number of transactions carried out with our clients’ cards is higher than the records of 2019 and 2020.”
The BBVA Research Big Data consumption indicator specified that, so far this month, the average year-on-year increase in expenditure on services continues to far exceed that on goods (41.2% versus -8.8% respectively, in real terms).
At the beginning of November, during the offers of the Cybermonday, “there was a rebound in consumption compared to 2020”, but then spending with cards remained “with very low dynamism.”
The The areas that benefited the most from these promotions were those related to tourism., to clothing and home equipment, indicated the survey released today.
The Spanish capital bank pointed out that, comparing in constant pesos with the pre-pandemic level, the Travel category doubled expenses, while Home recorded consumption peaks 108% higher.
In turn, sales of Fashion and Other services grew by around 80%, while more postponed items, such as Care and Beauty, “momentarily returned to the figures of January-February 2020.”
According to the report, the economic improvement and the increase in bankarization precipitated by the pandemic “have their correlation in the number of transactions carried out with our clients’ cards, which is higher than the records of 2019 and 2020.”
Source From: Ambito
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