Comments on: Costa Rica credit card debt soaring despite astronomical 40-50 percent interest rates https://insidecostarica.com/2015/10/26/costa-rica-credit-card-debt-soaring-despite-astronomical-40-50-percent-interest-rates/ Costa Rica's Leading English Language News Source Tue, 28 Oct 2025 04:55:00 +0000 hourly 1 http://wordpress.org/?v=3.6.2 By: Ken Morrishttps://insidecostarica.com/2015/10/26/costa-rica-credit-card-debt-soaring-despite-astronomical-40-50-percent-interest-rates/#comment-12901 Ken Morris Tue, 27 Oct 2015 00:14:00 +0000 http://insidecostarica.com/?p=19723#comment-12901 Good to have such a thoughtful and responsible editor! I agree, these things aren’t easy to get fairly balanced, and it a person does have to think through them. You did fine.

]]> By: Timothy Williamshttps://insidecostarica.com/2015/10/26/costa-rica-credit-card-debt-soaring-despite-astronomical-40-50-percent-interest-rates/#comment-12900 Timothy Williams Tue, 27 Oct 2015 00:02:00 +0000 http://insidecostarica.com/?p=19723#comment-12900 Thanks, Ken :) To explain my rationale, (trust me I debated the headline for a while) – interest rates were just as high last year (well, overall a point lower, but still) but Costa Ricans added only $20.5 million USD to their balances while this year adding $87 million USD, so I decided to go with the headline that indirectly implies that Costa Rican consumers are continuing to make NEW purchases on these extremely high-interest rate credit cards to explain the 4x increase in national credit card debt, which has to be the case despite the interest rates (that also means taking out new/additional cards, of course).

In the text, however, I wanted to mention that a significant part of the increased overall debt was also (more than likely) piled-on interest, so thanks for taking notice of something I wrote very intentionally.

It was the most balanced approach I could find to present this story even though Costa Ricans added 4x the additional, new credit card debt than they did last year.

]]> By: Ken Morrishttps://insidecostarica.com/2015/10/26/costa-rica-credit-card-debt-soaring-despite-astronomical-40-50-percent-interest-rates/#comment-12899 Ken Morris Mon, 26 Oct 2015 23:14:00 +0000 http://insidecostarica.com/?p=19723#comment-12899 Glad you added “or perhaps as a result” to “despite” in the text, if not in the headline. This I think covers you and keeps you balanced enough. Clearly which direction the causal arrow points is a matter of debate.

]]> By: MJhttps://insidecostarica.com/2015/10/26/costa-rica-credit-card-debt-soaring-despite-astronomical-40-50-percent-interest-rates/#comment-12896 MJ Mon, 26 Oct 2015 22:34:00 +0000 http://insidecostarica.com/?p=19723#comment-12896 I have a friend who pays his ex for child support. She wants more but he told her he doesn’t have any more. Her statement to him was “well just get a credit card”. It’s in the culture here.

]]> By: mhoganhttps://insidecostarica.com/2015/10/26/costa-rica-credit-card-debt-soaring-despite-astronomical-40-50-percent-interest-rates/#comment-12889 mhogan Mon, 26 Oct 2015 20:15:00 +0000 http://insidecostarica.com/?p=19723#comment-12889 The banks have to increase interest rates to cover the deadbeat card holders. Heaven forbid should they cut use by a pobracito.

]]> By: richard schlinderhttps://insidecostarica.com/2015/10/26/costa-rica-credit-card-debt-soaring-despite-astronomical-40-50-percent-interest-rates/#comment-12885 richard schlinder Mon, 26 Oct 2015 19:22:00 +0000 http://insidecostarica.com/?p=19723#comment-12885 Been here ten tears.Ticos are not good payers. Some of it is circumstances,some is culture. I hope the banks have started disallowing more charges on bad paying card holders.

]]> By: gchttps://insidecostarica.com/2015/10/26/costa-rica-credit-card-debt-soaring-despite-astronomical-40-50-percent-interest-rates/#comment-12881 gc Mon, 26 Oct 2015 18:33:00 +0000 http://insidecostarica.com/?p=19723#comment-12881 the rate is of no importance whatsoever. it only matters if the borrower intends to repay. like that is gonna happen. NOT!

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