In Ecuador, 359,874 people have more than three credit cards. This is an important number, because if you take into account that there are 3,128,625 credit cards, you can calculate that only these people would manage at least 34% of the total, that is, 1’079,000 of this type of media of payment.
The data was provided by Juan Carlos Ruiz, head of Marketing of Equifax Ecuador data company, which in turn gives several tips to avoid over-indebtedness, for those who have one or more cards.
According to the expert, it is not bad to have several credit cards, but there must be responsible handling. A subject that the user must have clear is the amount that can be borrowed, the payment dates and the amounts to be paid. However, the more cards you have, the more data you must remember or keep in mind.
Before indebtedness it is important to do a planning in the future in which all the expenses that the consumer has in the month are seen compared to the income that he receives monthly. Only if there is a balance in favor, the person is able to borrow, if it is not preferable to stop the debt.
Now if the situation is that they already exist, the best strategy is to go down the debt. One recommendation is to pay the most expensive debts. In these days that some workers received profits, an appropriate use of these extra resources could be just paying off debts.
According to Ruiz, there are several technological tools that allow the user to have fresh information from their financial statements. There are financial applications, you can schedule reminders and even request status statements for free in Equifax itself.
The number of circulating cards in Ecuador has grown between 2017 and 2018. While in 2017 there were 2.84 million, 2018 closed with 3.12 million. Additionally, the issuance of new cards is also increasing: in 2018 442,501 were issued for a total quota of $ 940 million; meanwhile, in 2017, the number of new cards was 418,224 for a quota of $ 840 million.
In any case, in 2018 the average quota of these new cards fell, since in 2017 it was $ 2,297 per card and now it is $ 2,126. (I)