Puerto Rico Credit Card

By: EconomyWatch Content   Date: 23 February 2010

About The Author

EconomyWatch Content

Follow The Money

EconomyWatch, Content Team

 

  • Dot Div
  •      

Owing to the influence of the US, Puerto Rico is largely a cashless economy. The small country has almost a dozen Puerto Rico credit card issuers and a wide range of products.

Puerto Rico Credit Card Industry

The Puerto Rico credit card industry is dominated by MasterCard and Visa. However, Discover and American Express have a small share of the market as well. Major US brands, such as Citigroup and Wells Fargo, do not have direct operations in the country. However, they indirectly govern the Puerto Rico finance industry through strategic investments. For example, MBNA has allied with FirstBank to provide credit card services. FirstBank is a major credit card service provider in the country.

Puerto Rico Credit Card Usage

Puerto Rico credit cards can be used in all 78 districts of the country. Credit cards can be used in hotels, retail shops, malls, amusement parks and gas stations. Online credit card transactions are also popular.

 

The national currency of Puerto Rico is the US dollar. However, payments through US credit cards are charged according to the international transaction rate. Usually, the service providers, MasterCard or Visa, charge one percent of the transaction amount. The different banks levy international charges on top of that. These charges differ among the US banks.

Puerto Rico Credit Card: Major Issuers

Major Puerto Rico credit card issuers are:

 

  • American Express

  • Banco Popular

  • Economic Development Bank

  • FirstBank

  • First Citizens Bank Limited

  • RBTT Bank Limited

  • Republic Bank Limited

  • Scotiabank Trinidad and Tobago Limited 

Puerto Rico Credit Card: Range of Products

Puerto Rico credit cards come in a wide range. Banks offer the standard, gold and platinum credit cards to eligible customers. Specialty cards include the Visa Signature card, Lifestyle MasterCard, Black MasterCard and American Express Costco Card. Affinity credit cards are also available through different issuers, in association with airlines, branded outlets and reputed hotels.

 

In association with service providers, Puerto Rico credit cards come with several benefits, such as:

 

  • 24X7 lost card reporting and fraud reporting

  • Accidental death insurance when traveling by air with tickets purchased through the credit card.

  • International assistance

  • Emergency card replacement

 

Puerto Rico credit cards offer a range of rewards programs, including air miles, cash back and travel benefits.

 

 


  • Dot Div
  •      

Related News

Is It Worth Keeping The Pirates At Bay?
The Internet and Social Media
Is It Worth Keeping The Pirates At Bay?
23 May 2012
A Global Health Care Remedy – Why We Must Fix High Drug Prices: Joseph Stiglitz
Healthcare Industry
A Global Health Care Remedy – Why We Must Fix High Drug Prices: Joseph Stiglitz
22 May 2012
Greece Economy
Greece Must End Its Doomed Marriage With The Eurozone: Nouriel Roubini
21 May 2012
Advice for Goldman Sachs Social Media Manager
Companies & Investments
Advice for Goldman Sachs Social Media Manager
18 May 2012
Can Hollande Change the Balance of Power in Europe? : Zaki Laidi
Europe Economy
Can Hollande Change the Balance of Power in Europe? : Zaki Laidi
17 May 2012
What the West Can Learn From Islamic Banking
Banking and Finance
What the West Can Learn From Islamic Banking
16 May 2012

See more related news

Most Popular in International Credit Cards

Related Links
blog comments powered by Disqus