Panama: New Credit Cards Down 58%

In the first half of the year, 4.458 new credit cards were issued, 6.969 less than the same period of 2008.

Wednesday, September 30, 2009

Total credit lines granted under this scheme summed $11.2 million, 52% less than in 2008, and 74% less than in 2007, according to data from the Panamanian Credit Association (ACP). Average credit for each new credit card was $2.520.

"Raúl Moreira, president of the College of Economists, argues that the reduction is due to customers being more cautious", reports El Siglo.

More on this topic

Increased Number of Credit Cards in Panama

June 2013

In late May there were 673,590 active credit cards, while in the same period in 2012 there were 609,357.

The balance of active cards also showed an increase of 17% compared with May 2012, according to a Panamanian Credit Association (CPA). "The balance went from $1.1114 billion to $1.3008 billion in May 2013, which represents 3.8% of total credit balances reported in the database", reported Elsiglo.com.

Nicaragua: New Regulations Will Reduce Credit Cards in 20%

June 2010

Experts estimate that financial companies will issue 20% less credit cards when the new regulations come into force.

This was confirmed by Banking Superintendent Víctor Urcuyo , who explained that the more restrictive regulations will exclude many individuals from making the cut for a credit card.

New Card Issuances Fall 67% in Panama

June 2009

In the month of Abril 2009, 3,761 cards were granted, which is less that the 11,427 that were issued over the same period of last year.

According to what was reported by the Panamanian Association of Credit (APC), the new cards issued have a 63% smaller credit limit compared to the levels of April 2008.

Guatemala's credit card debt at 2.37 billion quetzals

June 2008

The Superintendent of Banks in Guatemala reports that credit card debt is growing in the nation despite disturbing economic signals and now stands at 2.367 billion quetzals, or about 315 million dollars.

It said that despite high interest rates and a threatening crisis, the use of credit cards is concentrated in purchases at supermarkets, restaurants and gas stations.

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