According to data recently published by central bankoverdraft rates fell, and revolving credit card rates increased in August compared to July.
The debitIn July, the interest rate was 318.7% per annum and increased to 306.9% the following month. This means that during the month there was a decrease of 11.8%. From year to year, the debit balance has already dropped by 5.7 percentage points.
About rotary card, the average rate recorded in August was 307.2% a year, an increase of 6.9% compared to the previous month. This amount is calculated on the basis of data from customers who are on time and are in default.
Non-paying customers are those who make at least the minimum invoice payment on time. In this case, the interest rate was 289% per annum. Already in the case of people who were in arrears with payments, i.e. who delayed the payment and who did not, 319% a year was recorded.
Although the interest rate on a revolving loan exceeds the current account limit, it is not recommended to use this mode, which is still one of the most expensive on the market. The Central Bank recommends using the overdraft only in emergency situations, trying to get out of it as soon as possible, resetting the balance or looking for other credit options.