Quote consumption: how it works and how you can alleviate your credit card if you have it “on fire”

Covering themselves from inflation is one of the main challenges that Argentines face, both when it comes to saving and when they must cover daily expenses. In this context, the Government aims to boost consumption with the “Now” plans, which allows the financing of different goods in up to 30 installments.

However, for many people this possibility is not within their reach. Whether it’s because they’re unbanked or because their credit cards don’t have an available balance, accessing these programs isn’t suitable for everyone.

Matías Friedberg, co-founder of Ixpandit Fintech Factory, tells iProUP: “Users use credits to cancel commitments, especially unforeseen ones.” Every three months we survey Adelantos.com customers to get to know them better. And we detected that about six out of ten allocate the loan to pay off a debt; and two out of ten, at home arrangements.”

Friedberg adds that his firm “provides solutions to the underbanked, who are those who have a bank account or card but the services offered by their bank are insufficient. Much of the increase in loans intended to settle a debt corresponds to obligations contracted with their cards or banks, “says Friedberg.

 

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