Costa Ricans
Using Less Their Credit Cards
The Superintendencia General de Entidades
Financieras (Sugef) - the financial
regulator - reports that Costa Ricans have
become more cautious when using plastic to
make their purchases.
The Sugef reports that there has been a drop
of 26% of the use of credit cards between
December 2008 and May 2009.
The director of the Oficina de Apoyo al
Consumidor, Cinthya Zapata, explained that
many Costa Ricans are thinking twice before
pulling out the plastic and many have
entered into financial arrangements with the
card issuer to bring down their credit card
debt.
The state banks, Banco de Costa Rica and
Banco Popular are leading the market with
financial arrangements with the credit card
clients.
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