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 terms of card issuance, Gutierrez specified that in 2009 emissions added to 408.466. However, in late 2010, emissions dropped to 330.249. That means a 19.1%, drop," reported the article at

More on this topic

DANGER: Politicians in Electoral Campaign

January 2013

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.

The rescue plan on overdue credit cards, which uses resources from pension funds, could lead to bankruptcy for these entities, Honduran economists warn.

Nicaragua: Less Credit Cards Issued

August 2010

In the first six months of the year, figures show 32,738 less credit card holders.

The head of the Nicaraguan banking regulator, Víctor Urcuyo, indicated that between June 2009 and June 2010, the number of plastic card customers has dropped from 216,369 to 183,631.

Urcuyo added that, "this is due to the regulator's new plastic card standard, now 90 days old, which forces banks to be more responsible.

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.

More Credit Card Requirements in Guatemala

February 2009

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

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.

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