Costa Ricans put more than 10 billion colons additional on their credit cards over Christmas. That’s about $21.5 million or about 1.46 percent of what they already owed, said the economics ministry.
The total credit card debt for the country is 751.2 billion colons or about $1.5 billion. Other studies by the same ministry showed that the debt gathers interest at a rate as much as 54 percent.
The Ministerio de Economía, Industria y Comercio routinely does studies of the outstanding debt. The comparison released Wednesday was to the amount that was owed Oct. 31. The data comes from the 29 companies that issue credit cards.
The ministry in this report did not address the amount of money that was in default for non-payment.