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.
For the longest time Hispanics have stayed away from using credit. They use cash whenever possible to buy merchandise.
What ends up happening is Hispanics do not have the credit score to finance huge items so they take out credit cards and make purchases on credit to build up their FICO score.
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.
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.
Some American banks are trying though to market to Hispanics by translating a lot of their services and even by hiring Hispanics to work at the bank.
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 a long time Hispanics have been debt free and now they are having to work even hard to maintain the American lifestyle. - 16459
For the longest time Hispanics have stayed away from using credit. They use cash whenever possible to buy merchandise.
What ends up happening is Hispanics do not have the credit score to finance huge items so they take out credit cards and make purchases on credit to build up their FICO score.
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.
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.
Some American banks are trying though to market to Hispanics by translating a lot of their services and even by hiring Hispanics to work at the bank.
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 a long time Hispanics have been debt free and now they are having to work even hard to maintain the American lifestyle. - 16459
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. Eventually one day we can see more debt free hispanics using money to assist other people.
