That's right, Banco Santander will offer a new credit card limit due to the global crisis that the new Coronavirus is causing around the world.
And it's not just Santander, other financial institutions have also taken measures to contain the global economic crisis.
Only this week, according to official information, Banco Santander announced an increase of 10% in the credit card limit of its customers. According to the bank, the initiative aims to offer resources during the coronavirus pandemic.
According to information from Santander, the idea of the action is to minimize the impacts of the pandemic and allow a reserve for account holders and non-account holders.
Let’s see what Banco Santander said in an official note:
“The measure allows for forward payment of some expenses, which can make a difference for those who have already had their budget affected by changes in the economic situation.”
But this campaign was not viewed positively by customers.
As soon as the publication on TV channels and social networks was authorized, the campaign began to have a completely negative impact.
Many customers claimed that it was a question of taking advantage of a fragile moment, many people accused Banco Santader, stating that the brand was taking advantage of this situation to obtain greater profitability on the part of less favored customers, which is no lie.
In addition, economic specialists also recalled that the interest rate applied to revolving credit is among the most expensive in the market, even with the reductions recently made by the Central Bank. At Santander itself, the charge is 8.98% per month.
However, the bank responded vehemently to the criticism:
"Some end up taking advantage of the moment. But, on the other hand, it is better to have credit than not to have it in an emergency situation.”
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