In the fourth quarter of 2024, experts registered a notable decline in the issuance of credit cards in Dagestan, amounting to nearly 25%. These findings are presented in a report of the National Credit History Bureau.

Over the past three months, the residents of Dagestan have opened a total of 47,700 new credit card accounts. In comparison, the neighboring Stavropol Krai also experienced a decrease exceeding 26% with over 71,000 credit cards issued. This trend is not observed in Dagestan only but extends to the entire country. During the fourth quarter of 2024, the number of new credit card applications in Russia declined by 28.6%, marking the lowest level for the year, reaching 4.44 million.

Experts attribute this decline to the tightening monetary policy implemented by the Central Bank. The process of obtaining a credit card with a desired limit has become more challenging, resulting in an advantage for individuals with a strong personal credit rating.