The recycling rate of credit cards for the year decreased by 5.8 percentage points – to 48.5% in August this year. This is the lowest value since February 2015, when it was 46.8%, according to a survey by the National Bureau of Credit Histories (NBCH). The utilization rate measures how well, on average, credit card users spend their credit line. For example, if a person with a credit limit of 10 thousand rubles. spent 4 thousand rubles, its utilization rate was 40%.
The level of utilization is usually dominated by the income of the population. At the same time, its decrease may indicate not only the sufficiency of borrowers' own funds, but also about fears of increasing debt in the event of the impossibility of its repayment. In the current situation, the acceleration of the downward dynamics was noticeable in recent months, when the peak of the economic recession caused by the pandemic passed and the growth of household incomes resumed. At the same time, the employment situation is no longer a cause of such serious concern as in the spring. Thanks to this, it became possible to achieve the minimum value over the past five years.
There is no general trend in the regional breakdown of contradictions. But over the past year, the leader has changed here – instead of Moscow, which took second place with 38%, the minimum level was recorded in the Yamalo-Nenets Autonomous District (37.1%). Further, with a margin of several percentage points, are the Moscow Region, St. Petersburg and the Khanty-Mansi Autonomous Okrug. The highest utilization rate – 77.6% – is shown in the Republic of Tuva. Here borrowers prefer to spend the largest share of the credit limit in Russia.