Given the high inflation the economy records every month, Argentinians are looking for a way to protect themselves from devaluation, or at least lose as much as possible. In this sense, compared to inflation, consumption is one of the most mentioned items through interest-free installments or credit cards with relatively low interest that users try to take advantage of.
In this context, it should be remembered that banks are obliged to inform the Federal Administration of Public Revenues (AFIP) about the movements of users’ accounts and credit cards from the minimum amount of consumption.
The latest amount just released by the Federal Administration of Public Revenues (AFIP) has raised the minimum figure for reporting authorizations, withdrawals, account balances and fixed term deposits from $30,000 to $90,000, Iprofresional.com reports.
With these changes, banks will be able to streamline operations and, in turn, get automated and permanent information on monthly authorizations, withdrawals, account balances, time deposits and card consumption.
Now 30: How to increase credit card limits
The Ministry of Commerce is working with financial institutions to implement the Now 30 scheme, which allows financing in fixed installments for the purchase of televisions, air conditioners, refrigerators, washing machines and cell phones. Increase credit card limits.
The plan considers purchases with a $200,000 limit, excluding phones with a $120,000 limit. And it offers a rate of 48% per annum, half of what is offered in the market, which indicates that consumers should have an adequate limit on their credit card.