Credit card

Credit card spending falls as consumers tighten belts

Spending through credit cards declined in September as consumers are still feeling the heat of the slower-than-expected economic recovery, while the threat of a second wave of coronavirus infections looms large.

Total card loans held by lenders stood at Tk 1,245 crore in September, down 19.78 per cent a month earlier, according to data from the central bank.

Transaction through credit cards, however, rose 23.68 per cent year-on-year. The volume stood at Tk 1,006 crore in September last year.

The spending using credit cards drastically went down in the second quarter of 2020 because of the strict restrictions on the movement imposed by the government to keep the deadly flu at bay.

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