The Credit and Debit Cards Market in Costa Rica

As of January 31st 2014 the number of cards in circulation amounted to 1,729,945.

Thursday, April 3, 2014

From a press release issued by the Ministry of Economy and Trade:

In the past 18 months, Costa Ricans in total increased the debt balance of their credit cards by on average 1% per month, the equivalent of more than $7.2 million every 30 days, as confirmed by the latest survey by the Directorate of Economic and Market Research at the Ministry of Economy, Industry and Commerce (MEIC).

The cumulative total owed by Costa Ricans on their credit cards was as of January 31, ¢787,457.5 million; 36,274 million colones more (4.8%), than the last record, made in October 2013.

According to the study, the default rate reached 13, 78%, with defaults from 1 to 90 days registering the most increases, with 10.58% of the accumulated amount.



More on this topic

Costa Rica: Credit Card Debt Up 14%

April 2018

The number of cards in circulation grew by 13% between January 2017 and the same month in 2018, while the balance of debt on credit cards increased by 14% in the same period.

According to a quarterly study on credit and debit cards for 2018, with a cut off point of January 31, on average each person has two credit cards and three debit cards.

Costa Rica: Plastic Money Market

March 2015

72% of the credit and debit cards circulating in the country have interest rates in colones ranging from between 40% and 50%, while the default interest varies from 24% to 65%.

From a statement issued by the Ministry of Economy, Industry and Trade (MEIC):

The Ministry of Economy, Industry and Trade (MEIC), through the Directorate of Economic and Market Research, presented a study on debit and credit cards in which it was determined tha 72% of cards existing in the market have interest rates in colones, ranging from between 40% and 50%.

Market for Credit and Debit Cards in Costa Rica

June 2014

Up to April 30, 2014 the number of cards in circulation amounted to 1,764,609, 2% more than at the end of January of the same year.

From a press release issued by the Ministry of Economy, Industry and Trade of Costa Rica:

According to data from the latest survey by the Directorate of Economic and Market Research of the Ministry of Economy, Industry and Commerce (MEIC), defaults decreased by 3%, corresponding to a delay of payment over 90 days, compared to the previous study.

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.

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