Monthly APR of credit cards in Brazil 2011-2023, by credit card type

Published by Statista Research Department, Mar 5, 2024

A revolving credit card in Brazil had an average of APR that was over 440 percent, as the country dealt with inflation and a lack of credit card regulation. This is according to information from the country's central bank, which tracked the Annual Percentage Rate or APR for both installment credit cards and revolving credit cards. The interest rates in Brazil are sizable: Out of 63 regulated institutions that deal with credit cards in the country, only seven had an APR that was below 100 percent. This 100 percent is part of a proposal in late 2023 to impose of a maximum interest rate. Credit card rank as Brazil's most popular payment method for online shopping.

Average APR (Annual Percentage Rate) of revolving and installment credit cards in Brazil from March 2011 to December 2023

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Release date

February 2024

Region

Brazil

Survey time period

March 2011 to December 2023

Special properties

Credit card rates are - especially in the U.S. - reported as a yearly rate. It refers to the yearly interest rate one pays over a balance on a credit card, including fees.

Supplementary notes

Revolving credit cards are a specific financial product that fall within the larger category of "revolving credit". This type of credit card is open-ended, and allows users to spend up to their assigned credit limit with no determined end time. If a borrower chooses not to pay off their balance in full, the balance will carry over ("revolve") into a new month, likely with growing interest costs. These credit cards can typically impact credit score.

Installment - or deferred - credit cards allow for purchases to be split into multiple smaller payments spread out over time, usually each month. These installments are charged to the credit card holder each time frame until the purchase has been paid in full. The first installment is often charged to the credit card immediately, with following installments being charged automatically.

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