Hispanic Credit Card Consumption

By Eliud Perez

It seems that the more Americanized Hispanics are the further in debt they become. Its all due to higher credit card consumption among Hispanics lately.

Hispanics have not used credit cards for years. They tend to use cash when they make purchases.

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.

Hispanics end up falling into the American system of having debt so they can go further into debt. All because some company told them to build up their credit.

Used car dealerships do well with Hispanics because they can make cash purchases and not have to finance their vehicle. Most Hispanics still prefer to use money to make purchases.

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.

As long as Hispanics are being educated about credit card usage by the big banks this is a good thing.

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.

About the Author:

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 assist other people.