Credit Card Usage Rises For Hispanics

By Eliud Perez

Credit card consumption among Hispanics keeps getting higher every year. The more culturized they are in the American culture the higher the credit card debt.

Hispanics prefer to use cash to buy what they need. For a long time Hispanics would not carry credit cards.

The reason most have credit cards is because people tell them to build up their credit. Most do not have a credit background and cannot finance big purchases like a vehicle.

So companies tell Hispanics to have credit to build up credit and then they fall into the American system of having debt to build more debt.

Most Hispanics still prefer to use money to make purchases. That is why used car dealerships do well among Hispanics, they can go and pay cash with every paycheck.

More banks are explaining their services in spanish so Hispanics can have the option of reading it in spanish. At least they can read about how to use credit cards.

The good thing is banks are starting to explaing how credit cards work to Hispanics so they at least have the option to know how stuff works in America.

For years Hispanics were debt free because they used money to buy things but now Hispanics are working harder than ever because of their American lifestyle.

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So when you see banks with signs that have Tarjetas de Credito, that means they are targeting Hispanics. Tell them to educate Hispanics about debt, or in spanish, de Deuda. Hopefully one day we can see more debt free hispanics using money to help their people.