This is fromthe recent Tico Times, and although I am iffy about these numbers, it does back up what we talked about a while ago. It's all a big house of cards, waiting to crumble.
TICOS INCREASE CREDIT CARD USE
Credit cards appear to be overtaking cash as Tico's favorite way of making purchases. The country's credit-card debt is increasing by about ¢3 billion ($7.3 million) a month, the daily El heraldo reported.
The speed at which credit-card debt among Costa Ricans is growing worries some experts, the report said. As of the end of September, the country's total credit-card debt had reached ¢122 billion ($296 million). Nearly 88% of that debt was active, 11% had expired and 1% was awaiting court action.
Credit-card use is increasingly primarily because of it's presumed security. Plastic money spares consumers from having to carrying large sums of easily misplaced cash. It has also become increasingly easier to obtain cards, according to the report.
TICOS INCREASE CREDIT CARD USE
Credit cards appear to be overtaking cash as Tico's favorite way of making purchases. The country's credit-card debt is increasing by about ¢3 billion ($7.3 million) a month, the daily El heraldo reported.
The speed at which credit-card debt among Costa Ricans is growing worries some experts, the report said. As of the end of September, the country's total credit-card debt had reached ¢122 billion ($296 million). Nearly 88% of that debt was active, 11% had expired and 1% was awaiting court action.
Credit-card use is increasingly primarily because of it's presumed security. Plastic money spares consumers from having to carrying large sums of easily misplaced cash. It has also become increasingly easier to obtain cards, according to the report.
