Panamanians' Financial Responsibility: 93% Punctual, Credit Card Use a Concern

Panamanians Show Strong Financial Responsibility: 93% of Loans Paid on Time Panama City, Panama – A recent report by TVN Noticias reveals that Panamanians demonstrate a high level of financial responsibility, with 93% of borrowers keeping up with their loan payments. This positive trend is based on data from APC Experian, a leading credit reporting agency. However, the report also highlights a notable exception: credit card debt. Giovana Cardellicchio, general manager of APC Experian, notes that while the overall loan delinquency rate is low, credit card debt presents a higher risk of default. "The figures show that the delinquency rate is 9.4%, meaning only 10 out of every 100 Panamanians have some delay in their payments," she explains. Cardellicchio emphasizes that credit cards, while convenient, are not an additional income source but rather a form of borrowing. She advises responsible use, suggesting that individuals should not spend more than 40% of their credit limit and maintain at least 60% available for unexpected expenses. "The credit card is not bad if managed well," she states, "You must know how you are going to deal with these debts." The report concludes with practical tips for responsible credit card management: using the card responsibly, understanding one's repayment capacity, paying before the due date, and being cautious with offers. The positive overall financial responsibility of Panamanians, coupled with targeted advice for credit card users, offers a balanced perspective on the nation's financial landscape.