Lacking clients to lend to, bankers are trying to boost the amounts spent on credit cards toward yearend and promising card owners the return of a percentage of purchases' value, extended grace periods or two-digit cuts in the price of acquired products.
Banks' push to make clients use credit cards for shopping is a radical change from the past, when bankers sold cards as a simple lending product.
Last year, credit card sales posted two-digit growth paces, while the volume of classical consumer loans fell, with sales not covering the sums paid back by clients.
While in 2010 credit card sales growth slowed down, several banks managed to boost their portfolio significantly, particularly as a result of promotional campaigns.
Whereas the non-performance rate is higher in the case of funding released on credit cards than in the case of other types of loans, including consumer ones, this line of business is still attractive to bankers, owing to the high interest rates.
Lacking clients to lend to, bankers are trying to boost the amounts spent on credit cards toward yearend and promising card owners the return of a percentage of purchases' value, extended grace periods or two-digit cuts in the price of acquired products.
Banks' push to make clients use credit cards for shopping is a radical change from the past, when bankers sold cards as a simple lending product.
Last year, credit card sales posted two-digit growth paces, while the volume of classical consumer loans fell, with sales not covering the sums paid back by clients.
While in 2010 credit card sales growth slowed down, several banks managed to boost their portfolio significantly, particularly as a result of promotional campaigns.
Whereas the non-performance rate is higher in the case of funding released on credit cards than in the case o