Reduced Credit Card Debtors in Nicaragua
As of December 2010, debtors totaled 257.970, 17.4% less than the 312.158 existing in December 2009.
Wednesday, March 2, 2011
The Chairman of the parliament´s Production, Economy and Budget Committee, Wálmaro Gutiérrez, attributes the decline to May´s entering into effect of the new credit card governing regulation.
In the first six months of the year, figures show 32,738 less credit card holders.
Banks and transmitters of credit cards add more application requirements and reduce credit limits.
The Congress of Honduras is analyzing lowering credit card interest rates from 60% to 30%, in a rescue plan that includes pension funds buying that debt from the banks.
Experts estimate that financial companies will issue 20% less credit cards when the new regulations come into force.
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