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 have not used credit cards for years. They tend to use cash when they make purchases.
What happens is that they end up going to car dealerships and they are not able to finance a car because they do not have a credit background.
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.
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.
Our society is getting better at explaining how credit works. A lot of banks now have their information translated in spanish so more people can read it.
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. - 15224
Hispanics have not used credit cards for years. They tend to use cash when they make purchases.
What happens is that they end up going to car dealerships and they are not able to finance a car because they do not have a credit background.
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.
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.
Our society is getting better at explaining how credit works. A lot of banks now have their information translated in spanish so more people can read it.
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. - 15224
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.
