More Credit Card Requirements in Guatemala

Banks and transmitters of credit cards add more application requirements and reduce credit limits.

Wednesday, February 11, 2009

The main cause is the likelyincrease in defaults, derived from the international crisis and bad local economic situation. In 2008, credit card delinquency increased, reaching 0.46% of the total of accounts receivable.

According to the article published in sigloxxi.com, Flavio Montenegro, General Manager of G&T Continental, indicated that "These are measures that should be taken to maintain credit in the country…," upon explaining that the interest rates were adjusted in the third quarter of 2008.

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