More Croats Cutting up Credit Cards

While EU citizens are getting more and more debit and credit cards as economic forecasters predict an end in sight to the recession, the trend in Croatia is the opposite with the number of credit cards issued in decline…

In Croatia in June 2013 there were 8.5 million debit and credit cards in circulation, 6% less than there were in the same period the year previous. While credit card transactions, and the number of cards continue to grow across the continent, Croatia is seeing the reverse.

“People are realising that they are spending too much, that using credit cards with fees and interest does not pay off, so they are getting rid of them,” Tomislav Prpić from lenders association Udruga Franak told Tportal.