{"id":109273,"date":"2018-02-12T07:49:46","date_gmt":"2018-02-12T11:49:46","guid":{"rendered":"http:\/\/dr1.com\/new\/?p=109273"},"modified":"2018-02-12T07:49:46","modified_gmt":"2018-02-12T11:49:46","slug":"2-4-million-locally-issued-active-credit-cards-in-dr","status":"publish","type":"post","link":"https:\/\/dr1.com\/news\/2018\/02\/12\/2-4-million-locally-issued-active-credit-cards-in-dr\/","title":{"rendered":"2.4 million locally-issued active credit cards in DR"},"content":{"rendered":"<p><img loading=\"lazy\" class=\"alignleft size-medium wp-image-109296\" src=\"http:\/\/dr1.com\/new\/wp-content\/uploads\/2018\/02\/Credit-Cards-Diario-Libre-300x160.jpg\" alt=\"\" width=\"300\" height=\"160\" \/>Credit cards issued in the Dominican Republic as of the end of 2017 showed outstanding balances for RD$50 billion. Dominican banks have issued 2.4 million credit cards that are held by more than a million persons. Credit card growth was 8% in 2017, as reported by financial analyst Alejandro Fernandez in his Argentarium column in Diario Libre published on Thursday, 8 February 2018.<\/p>\n<p>Fernandez highlights US dollar balances have shown significant growth. He said in 2008 debt taken on by local credit card holders in US dollars was around 14% of all consumption. By year\u2019s end 2017, this had increased to 20%, reflecting increase in Internet purchases abroad by locals.<\/p>\n<p>Fernandez says the average interest rate for consumers not paying within the allotted period is 60% annually, considerably less than the 91% average in 2010. Fern\u00e1ndez himself lead a successful campaign to crack down on the high interest rates the banks were charging their customers.<\/p>\n<p>He observes there are around 200 companies offering the credit cards. He says the market leader is the Banco Popular, first to offer locally-issued credit cards, with RD$15.4 billion, followed by Banreservas and BHD Leon.<\/p>\n<p>Read more in Spanish:<br \/>\n<a href=\"https:\/\/www.diariolibre.com\/economia\/argentarium\/sobrevivio-el-credito-plastico-AJ9139839\" target=\"_blank\">Diario Libre<\/a><\/p>\n<p>12 February 2018<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Credit cards issued in the Dominican Republic as of the end of 2017 showed outstanding balances for RD$50 billion. Dominican banks have issued 2.4 million credit cards that are held by more than a million persons. Credit card growth was 8% in 2017, as reported by financial analyst Alejandro Fernandez in his Argentarium column in &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/dr1.com\/news\/2018\/02\/12\/2-4-million-locally-issued-active-credit-cards-in-dr\/\" class=\"more-link\">Read more\u2026<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[22,3],"tags":[],"_links":{"self":[{"href":"https:\/\/dr1.com\/news\/wp-json\/wp\/v2\/posts\/109273"}],"collection":[{"href":"https:\/\/dr1.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dr1.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dr1.com\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dr1.com\/news\/wp-json\/wp\/v2\/comments?post=109273"}],"version-history":[{"count":0,"href":"https:\/\/dr1.com\/news\/wp-json\/wp\/v2\/posts\/109273\/revisions"}],"wp:attachment":[{"href":"https:\/\/dr1.com\/news\/wp-json\/wp\/v2\/media?parent=109273"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dr1.com\/news\/wp-json\/wp\/v2\/categories?post=109273"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dr1.com\/news\/wp-json\/wp\/v2\/tags?post=109273"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}