Credit card spending skyrockets in Mexico

According to figures from the Bank of Mexico (BdeM), demand for financing among Mexican households remained strong in March 2026; the outstanding balance of consumer loans granted by banks reached US$110.493 billion, up from US$98.679 billion in March of last year.

Credit card financing—one of the instruments most commonly used by households to cover daily expenses and weather periods of reduced liquidity—had a balance of US$40 billion at the end of March, representing an annual growth rate of 11.6%.

According to data from the National Institute of Statistics and Geography (INEGI), private consumption fell by 0.5% month-over-month in February, following a 1.6% decline in January. On an annual basis, private consumption was 0.9% higher, marking 11 consecutive months of growth.

For the financial firm “Ve por más,” the consumer sector reported a weak first quarter of 2026 for publicly traded companies, amid a challenging environment marked by an appreciation of the Mexican peso, low store traffic, and financial adjustments.