MOSCOW, April 16 Russians have increased spending on credit cards with debt over 90 days overdue to a five-year high: in February they began spending more than a third of available limit, calculated for the company «Scoring Bureau».
«The average utilization (share of the used limit — ed.) at the end of February 2023 for credit cards without delay is 35.2%, which is 3.3 percentage points higher than the figure for the same period of the previous year. The achieved level of utilization is the highest in the last five years,» the study says.
It is noted that the indicator is calculated only for those credit cards for which there are no overdue debts for more than 90 days, since it is this category of cards that demonstrates the maximum utilization of level of more than 90% and thus «pulls» the overall indicator down.
Oleg Lagutkin, General Director of the company, noted that the indicator is low volatile. «Therefore, it is unlikely that any significant changes can be expected in the coming months. Most likely, the indicator will consolidate at the level of 34-36%,» he said.
The average limit on credit cards in February this year amounted to a record 92.03 thousand rubles, which is 8.6% more than the previous year, reported in early April with reference to the Scoring Bureau.