Fewer Credit Cards in Circulation in Hungary

Banking

There are fewer and fewer credit cards in circulation in Hungary, according to data from the National Bank of Hungary (MNB).

There were only 1.15 million such plastic cards in circulation at the end of the third quarter, roughly 55,000, or 4.5%, less than a year earlier. Since the third quarter of 2016, a total of 220,000 credit cards have disappeared from the market.

Parallel to the decline in the number of credit cards, their weight is increasingly decreasing in the Hungarian card market.

While in the second half of 2016, more than 15% of credit issued domestically went to credit cards, by September of this year, this ratio had already decreased to around 11.5%.

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