Interest rates on credit cards reached record levels
Real rates on credit cards in Russian banks have risen to almost 40%, a record at least since the start of the coronavirus pandemic, RBC reported , citing Scoring Bureau. According to the publication, a similar surge in the total cost of credit card loans was observed in March 2022, shortly after the start of the full-scale invasion of Ukraine. At the end of December, the average total cost of loans on credit cards increased by 9.7 percentage points, to 38.8%.