Caja Arequipa joins the Cusco and Piura savings banks, and announced for August the launch of its credit card for direct consumption. Wilber Dongo, central business manager of Caja Arequipa, explained that four categories of credit service have been designed that will be according to the level of debt that their clients have.
“Initially, we have chosen no more than 10% of the highest line we have. If the client has a debt of S/100,000, we could give them a plastic for 10,000 for expenses in restaurants, clothes, etc.”, He said for La República within the framework of the International Microfinance Seminar- SIM Ica 2024.
Likewise, Dongo confirmed that the rates for the cards will be slightly higher than those offered for their previous credits.
Attractive rates
The average rate at Caja Arequipa is 18%, so new consumer loans would range between 19% and 20%, much less than the 80% that the financial system manages today, led by banks.
It is important to remember that last March, the Congress of the Republic approved Law 31711, which enables municipal savings banks to issue credit cards without prior authorization from the Superintendence of Banking, Insurance and AFP (SBS). However, Dongo pointed out that the Arequipa institution has chosen to voluntarily receive advice from the regulator.
The Caja Arequipa card will be the third in the system, after Cusco and Piura, which are more restrictive. The launch of the product, which does not yet have a name, will take place in the anniversary month of the White City.
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In previous statements, Jorge Solís, president of the Peruvian Federation of Municipal Savings and Credit Banks (Fepcmac), estimated that Caja Huancayo would also join the initiative and provide credit cards to its users.
Keys
Requirements. To get A credit card is requested to be a natural person with a business (SME), seniority in the activity greater than or equal to 12 months.
Details. Likewise, photocopy of the DNI of the holder and spouse (if applicable). 100% normal rating in the financial system for the last 18 months.
Source: Larepublica
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