Total individual credit card borrowings, which were ₺503 billion 226 in the eighth week of 2023, increased by 153% to ₺1 trillion 274 billion in the same period of this year.
encazip.com researched the latest situation in individual credit card usage. According to the data of the Banking Regulation and Supervision Agency (BRSA), individual credit card borrowings increased by 153% compared to last year. In the research conducted by the comparison site encazip.com, it was seen that individual credit card borrowings increased to ₺1 trillion 274 billion, according to the data announced on February 23. In the same period last year, this figure was ₺503 billion.
Credit card use continued to increase in 2024
Citizens continued to use credit cards in the first two months of the new year. However, in parallel with increasing interest rates, the increase in the amount of installment purchases in credit card use remained below the use of credit cards without installments. However, in total, both installment and non-installment credit card usage increased.
This increase was also reflected in February data. According to BRSA data, individual credit card borrowings reached ₺1 trillion 274 billion in the eighth week of this year. ₺562 billion of this amount was installment borrowing and ₺712 billion was non-installment borrowing. While the total borrowing in 2023 was ₺503 billion, ₺258 billion of this was installment borrowings and ₺245 billion was non-installment borrowings. In other words, while installment credit card usage increased by 117%, non-installment credit card borrowings increased by 190%.
Corporate credit card borrowings increased
There was not only an increase in individual credit card usage. There was also an increase in corporate credit card borrowings this year. Corporate credit card borrowings, which were ₺241 billion in 2023, increased to ₺439 billion this year. ₺185 billion of this amount was installment borrowings and ₺254 billion was non-installment borrowings. The data revealed that there was an 82% increase compared to last year. Of the total borrowing of ₺241 billion in 2023, ₺136 billion was installment borrowings and ₺105 billion was non-installment borrowings.
Source: Dunya.com / Prepared by Irem Yildiz