Translated article:
Large Russian banks have begun to massively reduce credit card limits, Izvestia reports. Complaints from customers of VTB, Post Bank and Renaissance Bank show that the limits are reset suddenly, without prior notice and explanation. In some cases, cards were blocked after the limit was changed, which made it difficult to pay even everyday expenses, despite complying with all the conditions of the bank.
Banks explain the reduction of limits by the need to equalize financial indicators and reduce reserves - funds that are not actually used. According to Freedom Finance Global analyst Vladimir Chernov, this is done to reduce the risks of a shortage of funds with an increase in overdue debts.
Experts note that the measures especially affect financially literate customers who actively use credit cards and pay off debts in an interest-free period. Elman Mehdiyev, General Director of the Association for the Development of Financial Literacy, stressed that such borrowers actually use the bank's money for free, while banks attract funds in the market at an average of 14% per annum. For financial institutions, this makes reliable customers economically unprofitable. |
