The Superintendence of Banks’ Credit Card Payments System shows that as of December 2014, credit card borrowing totaled RD$30.48 billion, of which 86.1% is in local currency and 13.9% in foreign currency, as reported in Diario Libre. Some banks charge up to 60%, or about 5% a month in interest payments.
The number of credit cards in circulation was 2,339,569, which was down 5.7% or 141,631 compared to the cards circulating in 2013.
As of December 2014, 46% of cards had a credit limit of RD$20,000 or less.
The same report says that Dominicans are falling into the negative spiral of taking on too much debt with their credit cards. As reported by the Credit Card Payment System, volume of spending using credit cards was up 28%.
Hoy newspaper mentions a Deloitte financial company report that says that high limit credit cards (more than RD$50,000) increased from 16% of the total in 2008 to 25% in 2014. The high limit credit card was the fastest growing segment, up 145%.
http://www.diariolibre.com/economia/2015/02/09/i1003901_deudas-por-tarjetas-crdito-crecieron-durante-2014.html