May 2026 was marked by a significant increase in the issuance of credit cards in Russia. During the month, Russians issued 1.33 million cards, which is 19% higher than in the same period last year.

As explained by Marina Babenko, PhD in Economics, Associate Professor of Finance and Credit at the North Caucasus Federal University (NCFU), this phenomenon is due to the influence of the Central Bank's monetary policy.

– A decrease in the key rate entails a decrease in market rates, including on credit cards. Credit is becoming more accessible, and the pent—up demand for borrowing is beginning to be realized," the expert comments.

The special attractiveness of credit cards is given by the availability of an interest-free period from 50 to 120 days. If used correctly, the 14.25% rate can actually turn into zero.

– In conditions of economic uncertainty, people form a kind of financial safety cushion in the form of an open credit line. They issue cards "just in case," as long as favorable conditions remain, — says Marina Babenko.

The central bank continues its policy of gradually lowering interest rates to stimulate lending and economic growth. However, according to the expert, it is important to maintain a balance.

– The growth in the volume of credit card issuance can become both a driver of the economy and a source of new risks. If banks begin to ease the requirements for borrowers, this may lead to the formation of a new bubble in the unsecured lending market," explains the NCFU economist.

Experts emphasize that the current growth in demand for credit cards indicates a reversal from tight monetary policy to moderate economic stimulus. At the same time, 1.33 million issued cards indicate a serious potential for domestic demand.