Monday 20 September 2021

Costa Rica Credit Card Debt Grows 23%

The number of credit cards and debt grew in 2017 as compared to 2016, as did the interest rate average

Paying the bills


Today’s Vehicle Restriction September 20: Plates ending in “1 & 2” CANNOT circulate

QCOSTARICA - For today, Monday, September 20, despite being...

Athleta women’s brand opened its first store outside North America in Costa Rica

QCOSTARICA - Gap Inc.'s Athleta brand announced the opening...

Carlos Alvarado: Vaccine retention ‘delays global solution and increases risk of new virus variables’

QCOSTARICA - Costa Rica President Carlos Alvarado showed his...

Top 8 Ways To Make Money in 2021

There are many legal ways to make money in...

Otto Guevara compares Daniel Salas with a dictator for sanitary measures

QCOSTARICA - The vehicle restriction of odds and evens...

Today’s Vehicle Restriction September 19: “EVEN” ending plates CANNOT circulate

QCOSTARICA - For today, September 19, vehicles with EVEN...

What are we celebrating?

QCOSTARICA - From the gallows humor department is the...
Paying the bills


The number of cards in circulation in the country grew by 9% between July 2016 and July this year, and the balance of debt increased by 23% in the same period.

That is the result of the latest quarterly study on credit and debit cards, carried out by the Ministry of Economy, Industry and Commerce (MEIC), through the Directorate of Economic and Market Research.

The MEIC said there are 2,528,051 credit cards of which 32% correspond to additional cards, which are assigned to persons authorized by the holder, for example, a relative or employee.

- Advertisement -

For its part, the study with a cut off period of July 31, indicates that the balance of total debt in credit cards reported by the issuing entities was ¢1,137,355,000,000 colones (1.14 trillion colones) – US$1.99 billion dollars – up 23% over the same period in 2016.

The debt represents 3.79% of Gross Domestic Product (GDP).

It should be noted that for the month of July, delinquency of debt payments from 1 to 90 days is 7.21%, while for those greater than 90 days the figure stands at 4.87%.

Interest rates on the debt (in Colones) ranges from 8% to a maximum of 50%, on average almost 40%, up from an average of 35% last year. The interests in dollar debt is between 10% and 37%, the average 28%.

With respect to debit cards, the MEIC an increase of 4% over last year in the number of cards in circulation, for a total of 5,894,037 and 350 types of bank accounts linked to debit cards.

See complete study by the MEIC (in Spanish).

- Advertisement -

- Advertisement -
Paying the bills
"Rico" is the crazy mind behind the Q media websites, a series of online magazines where everything is Q! In these times of new normal, stay at home. Stay safe. Stay healthy.

Related Articles

Pay for the train with a card? It is now possible on the Cartago-San José route

RICO's DIGEST - This Monday, the incompetent and inefficient railway service,...

Tolls operators must enable card payment, orders Health

(QCOSTARICA) Toll operators on Ruta 27 and on other roads such...

Subscribe to our stories

To be updated with all the latest news, offers and special announcements.

Log In

Forgot password?

Forgot password?

Enter your account data and we will send you a link to reset your password.

Your password reset link appears to be invalid or expired.

Log in

Privacy Policy

Add to Collection

No Collections

Here you'll find all collections you've created before.