More than one million credit cards have been issued to residents in the DR. The issuing of credit cards is probably the most profitable chapter in Dominican banking. Credit card financing is probably the most expensive for consumers, as a 7% interest rate is normal in the system. And until now, banks were allowed to charge on the total of the month, regardless of whether consumers had made partial payments on the debt. Credit card issued by banks as of 31 December 2000, was as follows: Bancredito 208,988 Banco Popular 136,365 Baninter 103,319 Banreservas 71,882 Progreso 54,289 BHD 37,463 Mercantil 47,427 Fiduciario 30,664 (merged with BHD) Citibank 29,515 Global 10,167 Scotiabank 8,623 Asociacion Popular 5,591 Osaka (in the process of merging with Baninter) 5,432 Metropolitano (merged with Banco del Progreso) 5,217<\/p>\n","protected":false},"excerpt":{"rendered":"
More than one million credit cards have been issued to residents in the DR. The issuing of credit cards is probably the most profitable chapter in Dominican banking. Credit card financing is probably the most expensive for consumers, as a 7% interest rate is normal in the system. And until now, banks were allowed to … <\/p>\n