Every year the amount of debt that Hispanics have increases. It is due to credit card consumption and falling into the American way of making purchases.
Hispanics have not used credit cards for years. They tend to use cash when they make purchases.
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.
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.
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.
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. - 15432
Hispanics have not used credit cards for years. They tend to use cash when they make purchases.
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.
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.
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.
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. - 15432
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 their people.