NewsWhore
04-07-2011, 05:10 PM
The use of credit cards for purchases in the Dominican Republic was up 22% in 2010 compared to the previous year, says a report in Diario Libre today. This despite the fact that interest rates for the leading credit cards are more than 82% a year. Purchases using credit cards went from RD$77.69 billion in 2009 to RD$95.05 billion in 2010.
The Commercial Banks Association (ABA) says there are 1.8 million credit card holders in the DR, up from 1.2 million in 2008.
www.sb.gob.do/pdf/tasas-y-comisiones-de-tarjetas-de-credito.pdf (http://www.sb.gob.do/pdf/tasas-y-comisiones-de-tarjetas-de-credito.pdf)
The high credit card rates compare to the lower bank leading rates for vehicle purchases of 18%, mortgage loans at 15%, and bank lending at 20%, as reported in Diario Libre. Commercial lending averaged 12.3% in 2010.
More... (http://www.dr1.com/index.html#5)
The Commercial Banks Association (ABA) says there are 1.8 million credit card holders in the DR, up from 1.2 million in 2008.
www.sb.gob.do/pdf/tasas-y-comisiones-de-tarjetas-de-credito.pdf (http://www.sb.gob.do/pdf/tasas-y-comisiones-de-tarjetas-de-credito.pdf)
The high credit card rates compare to the lower bank leading rates for vehicle purchases of 18%, mortgage loans at 15%, and bank lending at 20%, as reported in Diario Libre. Commercial lending averaged 12.3% in 2010.
More... (http://www.dr1.com/index.html#5)