Credit Card Usage Rises For Hispanics
It seems that the more Americanized Hispanics are the further in debt they become. Its all due to higher credit card consumption among Hispanics lately.
Hispanics prefer to use cash to buy what they need. For a long time Hispanics would not carry credit cards.
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.
Companies tell Hispanics to have credit so they can build up their credit. This is the American system, be in debt so you can go further in debt.
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.
Banks are started to educate Hispanics about credit card usage. That is all Hispanics need, they want to know how stuff works here in America.
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.
Hispanics prefer to use cash to buy what they need. For a long time Hispanics would not carry credit cards.
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.
Companies tell Hispanics to have credit so they can build up their credit. This is the American system, be in debt so you can go further in debt.
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.
Banks are started to educate Hispanics about credit card usage. That is all Hispanics need, they want to know how stuff works here in America.
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.
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 help their people.
posted by Credit Counseling at
4:16 AM
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