Russia's credit card issuance drops sharply year-on-year
Russians are taking out fewer credit cards. In July, banks issued 1.27 million cards.
Consensus
- Russian banks issued 1.37 million new credit card contracts in July.
- Compared to June, credit card issuance increased by 2%.
- The total credit limit for issued cards decreased by 1% in July.
- The average credit limit per card dropped to 120,000 RUB in July.
- The average credit limit was 123,000 RUB in June and 126,000 RUB in July 2025.
- The number of credit card issuances in January–July 2026 was nearly identical to the same period in 2025.
- The total credit limit for credit cards in January–July 2026 amounted to 1.03 trillion RUB.
- The total credit limit for credit cards in the same period of 2025 was 1.01 trillion RUB.
- The number of credit card issuances has decreased by 36% over two years.
- The total credit limit for credit cards has decreased by 38% over two years.
- Banks are cautious about increasing credit limits due to low consumer expectations and slow income growth.
- Market analysts expect no significant growth in the near term, with possible stagnation or slight decline.
Points of divergence
- In July, banks issued 1.27 million credit cards, almost twice as few as in July 2024. — tg_moscash
- Credit card issuance in July 2026 increased by 18% compared to July 2025. — vedomosti
- Credit card issuance in July increased by 2% compared to June, following two months of stagnation. — kommersant
Coverage (3 sources)
- Russians are taking out credit cards less frequently — Московский кэш
- Credit card applications increased by 18% in July — Ведомости
- Credit card issuances grew by 2% in July after two months of stagnation — Коммерсантъ