Number of credit cards show an 11.9 percent rise

There were 11.9 percent more credit cards in use as of April than in the same month in the previous year. That is the result of a study by the Ministerio de Economía, Industria y Comercio. There were 4,619,586 cards in use this April, the ministry said

The ministry pointed out as it has done in similar studies in the past that interest rates vary widely. In this study the difference was from 11.5 percent to 42 percent annually in credit cards denominated in dollars. Some cards denominated in colons had rates as high as 66 percent.

In all, the ministry found 390 different types of credit cards issued by 29 entities, the same number as a year ago. Nearly 82 percent of the cards is use have been issued by banks, said the report of the study.

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