Credit Card Interest
Rates Run From 20% to 54% Annually
Tough economic times have forced Costa
Ricans to seek out credit, mostly in
plastics and banks and financial
institutions have been more than eager to
oblige.
According to the Ministerio de Economía,
there currently are in the Costa Rican
market 408 types of plastic products out
there, with interest rates ranging from 20%
to 54% annually.
The hundreds of financial products are being
offered by 27 financial instittuions headed
by Credomatic and Citibank.
The Ministerio reports that in the last
three months five products disappeared, but
six new ones were introduced.
The plastic with the highest interest rate
is "Compra Facil" at 54%, while the Citiank
Visa Signature International is the lowest
with a 20% annual rate.
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