BANKS HAVE RAISED CREDIT CARD RATES

The largest Russian banks have increased their credit card rates. In a number of credit institutions, credit card rates have exceeded 50%.

According to Rossiyskaya Gazeta, the increase in percentage points applies to new bank contracts. So, in VTB, the interest rate on the credit card reached 59.9% per annum. Promsvyazbank (PSB) raised the rate to 59%, and Gazprombank's premium credit card rate to 54.9%. Alfa-Bank increased the interest rate to 58.99% per annum in early 2025. And in Uralsib, the maximum credit card rate has reached 99.9%.

Experts explain that such changes are related to the moratorium imposed by the Central Bank. According to it, the maximum rates of credit institutions are not limited from January 1 to March 31 of the current year.

The Central Bank explained the introduction of the moratorium by the underestimated indicators of a number of banks on credit cards in the third quarter of last year. These data serve as the basis for calculating the maximum full cost of the loan in the first quarter of 2025. According to the rules of the Bank of Russia, the maximum total cost of a loan cannot be more than a third higher than the average market rate.