Annual credit card spending in Colombia 2013-2022, in local currency and USD
Colombians made 73 trillion pesos worth of credit card transactions in 2022, an increase of about 16 percent when compared to 2021. The growth change when estimating this value in U.S. dollars, however, was not as big due to the exchange rate between the two currencies. Colombia featured in a comparison of credit card penetration across 161 countries worldwide in 2021 but ranked relatively low compared to other Latin American countries, with a penetration rate of roughly 13 percent.