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With average interest rates of 435.9% per year in rotating credit, banks pressure those who delay their credit card bills, while debt advances and already reaches 80.4% of Brazilian families.
The credit card has become a burden for millions of Brazilians. In February 2026, the average interest rates for rotating credit rose to 435.9% per year, the most expensive line in the financial system, at a level close to 30 times the Selic, which is currently 14.75%. This charge comes into play when the customer does not pay the full amount of the bill by the due date and starts rolling over the debt with the bank.
The size of the problem is already evident in the numbers. Data cited by the Central Bank shows that around 40 million people were in rotating credit in January, with a delinquency rate of 63.5% in this modality.
At the same time, Gabriel Galípolo stated that the country has around 100 million to 101 million active credit card users, and that this instrument accounts for a significant portion of family debt.
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The credit card has become extra income for many people
The alert from the Central Bank goes beyond the absurd rate. Galípolo said that many people are using emergency lines, such as rotating credit, not as a temporary solution, but as an extension of their own income.
When this happens, the card ceases to be a means of payment and becomes a permanent trap, with interest that grows too quickly for those who are already struggling.
This pressure hits a country already strangled by debt. In March 2026, the PEIC from CNC showed that 80.4% of Brazilian families had some form of debt, a new record in the series.
Of this total, 29.6% had overdue bills, and 12.3% said they could not afford to pay what they owed. The credit card remains the main driver of this squeeze.
The ceiling imposed in 2024 did not solve the problem
In January 2024, a rule came into effect that limits the interest and charges on rotating credit and bill installment plans to 100% of the principal amount of the debt. In practice, an original debt of R$ 100 cannot exceed R$ 200 with interest and charges, excluding IOF.
The measure attempted to contain the out-of-control situation but did not significantly reduce the nominal cost of rotating credit, which remains above 400% per year.
The mismatch has an explanation. The ceiling reduces the final size of the explosion but does not change the fact that rotating credit continues to be offered at brutal rates.
Under current rules, banks still need to present customers with more advantageous alternatives, such as debt installment plans, within 30 days after delinquency. Even so, the cost continues to suffocate those who are already behind.
Lula addressed the issue, but the Central Bank rejects capping interest rates
The escalation of indebtedness has already become a political problem. In March, Lula asked the Ministry of Finance and the Central Bank for studies to alleviate family debt and seek alternatives to reduce the burden of revolving credit.
Galípolo, however, indicated resistance to a new direct capping of rates and said that the Central Bank prefers to create more suitable credit options to avoid that price control further reduces the supply of credit.
The result is a harsh portrait of credit in Brazil: banks continue to charge some of the heaviest rates in the market, millions of Brazilians remain trapped in credit card debt, and the government is still looking for a solution that doesn’t come too late for those already in the red.
Comment if you think the government should change the rules of revolving credit again and share this article with those who follow the economy, interest rates, and the weight of debts on the pockets of Brazilians.
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