Srilanka, Feb. 17 -- The festive December 2024 saw credit card holders swiping their card the most last year with the outstanding card balance shooting up, bringing almost the entire growth in the card debt for 2024 in one single month.
The data showed that card holders have spent heavily from their credit cards in December 2024 with card debt going up by as much as Rs.6.45 billion, changing the full year card debt only by a very little.
For instance, for the full 2024, the card debt has risen by Rs.6.59 billion, taking the year-end balance to Rs.151.37 billion.
Despite interest rates on cards having come down from their sky high levels reached in the early part of 2023 due to the interest rate shock applied by the Central Bank, they hav...