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100 000 credit cards and climbing

SANKA PRICE, [email protected]

100 000 credit cards and climbing

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BARBADIANS ARE swiping plastic like never before.

They own at least 100 000 credit cards with a value of about $1 billion.

And Glyne Harrison, president of the Barbados Bankers’ Association (BBA), forecasts this market will grow even more – driven mainly by the central role these cards play in the modern globally interconnected society.

“This (100 000 cards) may sound like a lot, but when you discount those who cannot get one – example, those not yet of age, those not working, and those with a bad credit history – the average person would end up with about two cards in their pocket . . . . that works out to be about $10 000 per card,” said Harrison. (SP)

Please read the full story in today’s Sunday Sun, or in the eNATION edition.