Today's Date: May 16, 2021
Young Women with Chest Pain Wait Longer and Receive Less Urgent Care Than Men   •   Save the Galaxy in the Epic Saga of Commander Shepard With Mass Effect Legendary Edition Today   •   Clark Atlanta University Partners With the National Coalition on Black Civic Participation (NCBCP) To Launch $1 Million Partners   •   RYB Education, Inc. Files Its Annual Report on Form 20-F   •   Pole for Grosjean, Honda at GMR Grand Prix of Indianapolis   •   KB Home Announces the Grand Opening of Hudson Grove, a New-Home Community in North Jacksonville, Priced from the $270,000s   •   Mastercard and National Women’s Soccer League Announce Multi-Year Partnership Centered on Elevating Visibility for the Spo   •   Optime Care Calls for Greater Awareness of Hereditary Angioedema, Highlights Patient-First Strategy for Treatment and Optimized   •   BREAKING NEWS: CAIR Joins Boycott of White House Eid Celebration in Response to Biden Administration's Defense of Israeli Attack   •   IndyCar Drivers Take Flight at LIFT Academy   •   Pyxus International, Inc. Announces Date of 2021 Annual Meeting   •   MetroPlusHealth to Host Virtual Town Hall: Stand Up Against Anti-Asian Hate   •   Mental Health in Focus: Healthline Announces Next Live Town Hall   •   Southern Glazer’s Wine & Spirits Hosts Education Panel in Support of Asian American and Pacific Islander Heritage Mont   •   California Family Physicians Applaud Expansion of COVID-19 Vaccine to Adolescents   •   After 59 Years, the Families of Flying Tiger Line Flight 739 Receive Closure   •   Grand Council Treaty #3, Canada and Ontario sign a Memorandum of Understanding to improve education for First Nations students   •   The Race Epidemic Documentary Featuring CA Attorney General Rob Bonta, Former Treasurer John Chiang, Congressmember Judy Chu Pre   •   Scott’s Liquid Gold-Inc. Reports First Quarter Results   •   ScholarShare 529 to Offer Families College Savings Stimulus for 529 Day
Bookmark and Share

Survival Spending: Latino Credit Card Users Charge Necessities, Worry About Jobs

 

 

Washington, DC-Latinos rely on their credit cards to cover everyday expenses that their paychecks can't afford, according to a report released today by NCLR (National Council of La Raza), the largest national Hispanic civil rights and advocacy organization in the United States. The report is based on findings from focus groups conducted in Chicago, Atlanta, and San Antonio. Participants revealed that they used their cards for necessities and are concerned about debt in the face of job instability. "In the midst of economic uncertainty and record-high unemployment, Hispanic credit card users struggle to reduce their debt and build a solid credit history. The reality is that credit may be the only way to keep food on the table or cover unexpected trips to the doctor," said Janet Murguía, NCLR President and CEO. "Federal regulators and card issuers must develop effective approaches to delivering affordable credit to underserved communities, putting families on the path to the middle class rather than cyclical debt." Major findings from Survival Spending: The Role of Credit Cards in Hispanic Households reflect the dominant themes of six focus groups conducted in May and June 2009 and provide insight into the behaviors of Hispanic card users. Specifically, the report shows that Latinos:

  • Believe building credit is important, and many learned this lesson from their friends and family
  • Feel strongly that credit lines should be used responsibly, which for participants meant reserving the card for covering necessities in between paychecks or unforeseen expenses
  • Are concerned about overspending at a time when jobs are unstable and income may be unpredictable
  • Are not always aware of the potentially negative consequences of some consumer behaviors but often feel caught by traps laid in fine print and seemingly harsh responses

In response to the experiences of Latino cardholders, NCLR calls on credit card issuers and policymakers to invest in credit options that:

  • Are fairly priced, transparent, and accessible to underserved communities
  • Make objective financial advice available to all families
  • Graduate automatically to a more favorably priced card
  • Expand technology to target first-time users and introduce innovative payment options

For more information, visit www.nclr.org | http://www.facebook.com/nationalcounciloflaraza | http://www.myspace.com/nclr2008 | http://twitter.com/nclr.

###



Back to top
| Back to home page
Video

White House Live Stream
LIVE VIDEO EVERY SATURDAY
alsharpton Rev. Al Sharpton
9 to 11 am EST
jjackson Rev. Jesse Jackson
10 to noon CST


Video

LIVE BROADCASTS
Sounds Make the News ®
WAOK-Urban
Atlanta - WAOK-Urban
KPFA-Progressive
Berkley / San Francisco - KPFA-Progressive
WVON-Urban
Chicago - WVON-Urban
KJLH - Urban
Los Angeles - KJLH - Urban
WKDM-Mandarin Chinese
New York - WKDM-Mandarin Chinese
WADO-Spanish
New York - WADO-Spanish
WBAI - Progressive
New York - WBAI - Progressive
WOL-Urban
Washington - WOL-Urban

Listen to United Natiosns News