How much the limit for credit card purchases was exhausted

The Minister of Economy, sergio masa, announced an agreement with the banking sector from which without the purchase limits of credit cards of the users.

In this way, families will be able to access more credit through increases in 30% in the margins of purchases in credit card installments; 25% in the margins to a payment; and 25% in the margins of advance in current account to MiPymes.

We value the decision of public and private banks with national capital, which make the decision to help consolidate consumption by increasing the rate quota, the credit indebtedness quota for credit card beneficiaries, from increasing the credit quota in the first payment, to increasing the ability to finance themselves in a current account with the case of SMEs or MiPymes”, Massa highlighted during ad.

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According to the Minister of Economy, “Improve credit capacity on 39 million credit cards, Increasing their purchasing power by 30% and somehow increasing their credit profile is a very valuable contribution from the Argentine financial system”.

“We understand that it is good that the regulator and the national public and private banks with national capital take this initiative, support it and allow us in the coming months for consumers to benefit, not only in the purchase of the 12 hour, but in the purchase with a card, in a payment or in installments ”, added.

What will the new limits be?

With this mean, for every $10,000 available in a payment, $3,000 will be added. Along these lines, if a family had $50,000 of credit on their card, they will now have $65,000. For this reason, these increases will allow families to access more assets with the Now 12 plan, they indicated from the Palacio de Hacienda.

From the Ministry of Economy they emphasize that “this effort must be complemented with actions of the State and of the political leaders of all sectors, which allow the macroeconomic ordering necessary to achieve the reduction of inflation. Modifications to the regulatory framework are also required in order to promote the channeling of society’s savings towards credit, efficiently and avoiding the generation of distortions, especially those generated by setting minimum rates”.

LM