Guatemala: Credit Card Debt Declines

In the first half of the year, a slight drop in credit card portfolios was reported relative to the end of 2009.

Monday, July 26, 2010

According to Guatemala's banking regulator (SIB), in June 2010 there were approximately 1.5 million credit card holders with $800 million worth of debt, lower than the $845 million reported at the end of December 2009.

"Banks and card issuers report stagnation in their portfolios in the first six months of the year with customers being more careful with their debts," reports

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Although equivalent to 85% of GDP, analysts say the portfolio of bank loans to the private sector is at healthy levels and can grow further.

At the end of 2014 bank lending to businesses and households in the country amounted to $46,212.6 million, well above the amount of public sector debt, which closed in 2014 at an amount equivalent to 39.4% of gross domestic product (GDP).

Remarkable Increase in Number of Credit Cards in Costa Rica

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At the end of 2012 a total of 7.1 million credit and debit cards were circulating in the country.

The growth compared to 2011 in the amount of "plastic" held by Costa Ricans was 21%. reports that "more than 1.6 million credit cards were used to make purchases (95% of operations). Meanwhile, debit cards were used more to withdraw cash than for shopping (51% and 49% respectively of operations). "

Guatemala: Credit Card Reform Presented

January 2011

The Government presented Congress the Credit Card bill.

The bill if approved by Congress, will regulate the contracts, demanding to provide the given credit limit, interest rates, fees and charges which apply. The institution issuing the credit card must provide the customer a copy of the contract.

Costa Rica: Credit Card Usage Drops

June 2009

The balance of credit card debt for the month of May was $707.5 million, just 1% more than December 2008.

The reported balances by twelve issuing banks to the General Superintendency of Financial Entities (Sugef) for the month of May show changes in buying habits by credit card holders.

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