New credit card in Guatemala

TACA, Credomatic, and American Express have launched a new credit card in the Guatemalan market called "Distancia American Express."

Thursday, October 16, 2008

In addition to the purchasing options normally offered to clients such as special access to airline's VIP lounges, card holders will also benefit from welcome miles, upgrade to business class and Priority Pass program waiting rooms.

More on this topic

Plastic Money in Costa Rica: Report up to July 2013

October 2013

Credit card debt grew by 1.5% to a total of $1.482 billion, while the number of cards in circulation up to July 31, 2013 was 1,731,673.

A press release from the Ministry of Economy, Industry and Trade of Costa Rica reads:

The Ministry of Economy, Industry and Commerce (MEIC) through the Department of Economic and Market Research has conducted its latest study on debit and credit cards.

Costa Rica: Credit Cards Charge Up to 54%

December 2009

A MEIC study found that credit card issuers charge interest rates between 20% and 54%.

There are 27 issuers in the country, whom collectively offer 407 different products, according to the study by the Economy, Industry and Commerce Ministry (MEIC).

The most expensive credit cards are: Compra Facil, issued by Medio Pago (54% interest rate), Vista International issued by BCT (50.4%) and Master Card issued by Citi (49.32%).

Credit Cards Anticipate Deceleration in Guatemala

April 2009

Faced with the crisis, issuers see young people and the lower middle class socioeconomic level (C / D) as vulnerable.

In 2009, the Guatemalan credit card sector will have difficulty sustaining the 15% to 20% growth it has maintained in the last few years. This growth led the industry to reach more than 1 million customers, a portfolio of $751 million and revenue of $220 million in 2008.

Credit Cards with Lower Growth in Costa Rica

March 2009

The balance of credit cards increased by 44% in 2008 but it is only expected to grow by half in 2009.

The different credit card companies are preparing for a year of lower growth relative to 2008.

According to the article in, the economic crisis and unemployment have led issuers to take steps to avoid increases in delinquencies, which include: "Being more careful in issuing new cards, tightening the analysis of the customer's capacity to pay, offering to buy credit card balances, making payment arrangements, agreeing to raise the minimum earning level and lowering the amount of indebtedness."

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