OREANDA-NEWS. The average limit on credit cards in December 2021 amounted to 82.7 thousand rubles, which is 23% more than a year earlier, and is a record for the entire history of observations. This was reported to Gazeta.Ru at Equifax credit bureau.

According to Equifax, in December 2021, the credit card portfolio of Russians reached RUB 1.2 trillion, up 30% from the same period in 2020.

“The main driver of portfolio growth was the increase in credit card limits issued by banks. This is especially noticeable before the holidays and the vacation period. Banks prefer to build up their portfolio by increasing the issued limit to clients with high credit awareness, minimizing risks,” said Oleg Lagutkin, director general of the bureau.

According to Equifax, at the end of 2021, Russian credit card holders had a total debt of more than 90 days of 156.8 billion rubles. This is 7.8% more than in 2020.

According to Lagutkin's forecasts, in 2022 credit card limits and the portfolio of credit cards will continue to grow.

“Banks are actively promoting their products in various sales channels, and the financial literacy of consumers is also increasing, who are beginning to take a responsible attitude to the fulfillment of their loan obligations,” the expert explained.

The previous record for the size of the average limit on credit cards was set in November 2021 - 74.9 thousand rubles.