Source link : https://www.mondialnews.com/2025/09/30/brazils-revolving-credit-card-interest-rates-skyrocket-to-an-astonishing-451-5-annually/
Interest rates on revolving credit card balances in Brazil have surged to an astonishing annual rate of 451.5%, highlighting the growing financial burden faced by many consumers in the country. According to recent data reported by Eurasia Review, this staggering figure underscores the challenges of credit affordability amid economic instability and rising inflation. The sharp increase in interest charges has raised concerns among regulators, consumer advocates, and financial experts about the sustainability of revolving credit as a source of funding for Brazilian households.
Interest Rates on Revolving Credit Cards Skyrocket in Brazil Raising Concerns Among Consumers
The annual interest rate on revolving credit card debt in Brazil has surged to an unprecedented 451.5%, intensifying financial pressure on millions of consumers already struggling with inflation and economic uncertainty. This drastic increase significantly surpasses average global rates, highlighting the high cost of borrowing through credit cards within the country. Experts warn that the soaring rates could lead to a rise in default rates as credit card holders find it increasingly difficult to manage their balances amid escalating fees and compound interest.
Consumer advocacy groups are urging regulators to intervene, citing the following urgent issues:
- Lack of transparency: Many borrowers remain unaware of the true cost of their credit card debt.
- Impact on low-income families: The steep rates…
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Author : Jackson Lee
Publish date : 2025-09-30 11:54:00
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