Clipping of news on Brazilian Culture, Law and Citizenship
06/26/2013
This article was translated by an automatic translation system, and was therefore not reviewed by people.
According to the survey, 72% of respondents did not know how much interest they pay when they fail to pay the full amount of the invoice Photo: David Paul Morris / Bloomberg / O Globo
The number of Brazilians who pay for their purchases over ten benefits increased. The conclusion of a survey by the Credit Protection Service (SPC Brazil), released yesterday. In 2012, in installments over ten times were made on purchases of furniture (10% of the population), household appliances (11% of buyers) and electronics (10%). This year, the percentage rose to 15%, 50% and 47%, respectively.
Despite allow smaller parcels a month, longer maturities have interest, in the end, reach 8% of the total value of the product, as found in the EXTRA simulation (see below). According to the financial manager of SPC Brazil, Flávio Borges, access to credit is easier, which leads customers to accept longer maturities.
The coordinator of economic studies of the National Association of Executives in Finance, Management and Accounting (Anefac), Miguel Oliveira, pointing inflation as one of the factors that make consumers opt for a longer period:
- The income is lower because people are being eroded by inflation. So, to maintain the standard of consumption, they have to decrease the value of the parcel.
According to the Brazilian Institute of Geography and Statistics (IBGE), the National Index of Consumer Price Index (IPCA) of the first half was 3.45%. In the same period last year, inflation was 2.58%.
Consumers are unaware of the interest
According to the research of SPC Brazil, 79% of Brazilian consumers know the values of annuity credit cards, but 72% do not know how much interest they pay when they fail to pay the full amount of the invoice (rotary).
For the economist SPC Brazil Ana Paula Bastos, this behavior reveals lack immediate buyer.
"The Brazilian Wonder how much they will pay to get the card, but ignores the value of secondary costs, such as fines for late payment of the invoice or the interest charged for the use of revolving credit," analyzed the economist, in a statement.
According to Anefac in May the average interest rate of the revolving credit card in the country was 9.37% per month (or 192.94% per year), the lowest since the survey began in 1995. Nevertheless, according to Ana Paula, interest in Brazil are still among the highest in the world.
OTHER DATA SEARCH
Credit card
Of the 604 respondents by SPC Brazil, 77% use at least one card.
Limit
Of the total, 35% reach the end of the month exceeding the credit limit.
SPC
The lack of financial accounts for 46% of cases of inclusion of arrears in Protection Service (SPC Brazil) and is leading to unemployment, which accounts for 40%.
Minimum payment
The percentage of consumers who pay only the minimum amount of card bill rose from 5% in 2012 to 9% this year.
Products
The credit card is used in most electronics purchases (54%).
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Source: Extra - online
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This article was translated by an automatic translation system, and was therefore not reviewed by people.