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Poorer Brazilians devote four times more income to credit card debt

Original: Poorer Brazilians devote four times more income to credit card debt, central bank says

Brazil's central bank has found that poorer Brazilians spend roughly four times more of their income on credit card debt than wealthier households, highlighting deep inequality in household finances. High interest rates on revolving card balances are weighing heaviest on low-income families, drawing attention to the burden of consumer credit costs in the country.

Why now: The central bank's new figures on unequal credit card debt burdens are fresh and politically sensitive amid Brazil's cost-of-living debate.

BrazilCentral Bank of BrazilBrazilian consumers

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• Poorer Brazilians devote four times more income to credit card debt, central bank says · Reuters
• Poorer Brazilians devote four times more income to credit card debt, central bank says · Miami Herald

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