Credit Card Usage By Bangladeshi People Rises More In USA than In India

In December, credit card usage by Bangladeshis increased by 15.11% domestically and 13.98% internationally. During this period, Bangladeshis spent the most using credit cards in the United States, Thailand, and Singapore. The highest expenditure abroad was recorded in departmental stores.

According to the latest report from Bangladesh Bank, spending in foreign departmental stores through Bangladeshi credit cards amounted to BDT 1.53 billion in December. The second-highest category of international credit card expenditure was retail outlet services, where Bangladeshis spent BDT 820 million during the month.

The report further reveals that in December, Bangladeshis spent BDT 32.15 billion domestically using credit cards, compared to BDT 27.93 billion in November. This marks an increase of BDT 4.22 billion or 15.10%. Meanwhile, international transactions via Bangladeshi credit cards reached BDT 4.91 billion in December, up from BDT 4.31 billion in November—an increase of BDT 600 million or 13.98%.

The United States witnessed the highest usage of Bangladeshi credit cards abroad, with spending amounting to BDT 740 million in December, compared to BDT 680 million in November—an 8.82% increase within a month.

The report highlights that 15.12% of total international credit card spending occurred in the United States, followed by Thailand with BDT 640 million (13.18%) and Singapore with BDT 410 million. India ranked fourth, with Bangladeshi expenditures totaling BDT 400 million in December, a decline from BDT 470 million in November.

An analysis of the data indicates that, while India had previously seen significant spending through Bangladeshi credit cards, this trend declined considerably in December. Following the fall of the Sheikh Hasina government in August last year, credit card usage in India began to decrease, with the exception of July. That month, due to student protests, India restricted visa processing, preventing Bangladeshis from traveling for medical or leisure purposes. These factors contributed to the decline in spending via Bangladeshi credit cards in India.