According to data provided by the Ministry of Economy, Industry and Commerce (MEIC), through the Directorate of Economic and Market Research, in April, Costa Ricans credit card debts rose to 908,149 million colones (3.02% of GDP).
The study was conducted using credit cards whose due date was April 30th, which determined that the balance had an increase of 1.27% compared to the previous analysis.
Regarding the interest rates, 8 out of 10 of credit cards has a colones interest rate of 40% and 50%. In dollars, it ranges between 30% and 38%.
According to the study, the amount of credit cards increased by 14.6%. However, compared to January 2016, there was a decrease of 1.05%, which means that 23,682 plastic stopped being used.
Annabelle Ortega, executive director of the Chamber of Banks and Financial Institutions, highlighted both numbers as positive. She also noted that delay in payments from 1 to 90 days decreased.