Until August of last year, 20.5 million plastic cards had been awarded, a growth of 8.9% compared to the same period in 2021.
Total customers, who are the ones who settle the total account of their card, represent 2.6 percentage points of growth, while non-total customers, who pay only the minimum and earn interest, represented 6.3 percentage points.
The average credit limit of non-total customers dropped to 51,385 pesos from 54,765 pesos in 2021. With more non-total customers, the interest rate has also increased to 50.7% from a previous 45.6%.
“The origination of new credit is being structured in a different way to longer terms and lower amounts in order to obtain good payment and healthy credit, we believe that it is a response to the higher (interest) rates,” explained Carlos Serrano, economist at head of BBVA Mexico.