Business · Economy · 53 mins ago
South Korea’s Average Card Loan Rate Falls to the 13% Range
The average rate on South Korean credit card loans fell into the 13% range after three months.
These loans let people borrow cash using a credit card.
The change came as card companies increased lending to borrowers with medium or lower credit ratings.
The government had eased rules on medium-interest loans to those borrowers.
But card companies face rising costs to raise funds, which can make it harder to lower loan rates.
It is uncertain whether rates will keep falling.
South Korea’s average credit card loan rate fell to the 13% range for the first time in three months.
The decline is attributed partly to card companies increasing lending after the government eased rules on mid-interest loans for borrowers with medium or low credit.
Rising funding costs for card companies could make it difficult for rates to keep falling.
- Who
- South Korean credit card companies and borrowers using card loans.
- What
- The average card loan rate fell to the 13% range.
- When
- The article was published on October 26, 2026; the rate had fallen to this range after three months.
- Where
- South Korea.
- Why
- The decline is attributed partly to increased lending after the government eased rules on mid-interest loans for borrowers with medium or low credit.
This story does not have two clearly opposing sides.
Card companies increased lending, a factor the article links to the decline in the average card loan rate.
The average card loan rate returned to the 13% range.
- Average card loan rate
- Fell to the 13% range
- Time since last in range
- Three months
- Government policy
- Eased rules on mid-interest loans for borrowers with medium or low credit
- Funding costs
- Rising for card companies