Hispanics Drive America Forward as More Gain Access to Credit

Моге Hispanics More and more Hispanics are gaining access to credit and credit cards as they continue to play their part in the shaping of America. This visual story explores the trends of credit card use among Hispanics in America, while at the same time Taking Advantage of Credit Cards as Hispanic Growth Drives America Forward providing a glimpse into how these trends may change course as the demographics of Hispanic Americans evolve. Hispanic or Latino 1970 Hispanic Defined by the U.s. Office of Man- agement and Budget as being "a person of Mexican, Puerto Rican, Cuban, South or Central American, or other Spanish culture or origin, regardless of race" Defined by the U.S. Department of Transportation to be, "persons of Mexican, Puerto Rican, Cuban, Dominican, Central or South Ameri- can, or other Spanish or Portuguese culture or origin, regardless of race." The year the U.S. Census first used "Hispanic" as an identifier. The definition of "Hispanic" has been changed with each subsequent census. Building credit The most cited reason Hispanics gave for obtaining a credit card Who has Credit Cards? Has a credit card More than one card Mean number of cards all households 77.8% White 2.3 56.6% 56.7% Black 1.5 35.7% 69.7% Hispanic 2.1 52.7% 87.4% Asian 2.8 71.1% Source: Consumer Finance Monthly by Ohio State University's Center for Human Resource Research 14.3% Nearly 2.3% 10% 1 in 2 of annual increase of annual income income 1 in 7 Hispanic credit card holders carry a balance from one owed in credit card debt for in the segment of Hispanic families holding credit cards families making under $20,000 a year owed in credit card debt for families making more than $100,000 a year Hispanics is a victim of credit card fraud from 1992 to 2001 month to the next Jobs Population Businesses 68% of Hispanics 16 and older were in the civilian labor force in 2009 U.S. Hispanic 22.4 million population during the 1990 Census 19% U.S. Hispanic population as of April 1, 2010 2.3 50.5 million of civilian employed Hispanics 16 and older worked in management, professional and related occupations in 2009 up 43.7% from 2002 million Nearly Projected Hispanic population of the the number of Hispanic-owned businesses in 2007 132.8 million 1 million United States on July 1, 2050 30% of the nation's population then. Hispanic Americans out of work for six months or more $345.2 billion Hispanic's background in the U.S. (2010) 11.3 Receipts generated by Hispanic- owned businesses in 2007 Unemployment among Hispanics 0% up 55.5% from 2002 63% Mexican Hispanics are veterans of the U.S. armed forces 23.6% 9,2% Puerto Rican of businesses in New Mexico in 3.5% Cuban 3.3% Salvadoran 2.8% Dominican 2007 were Hispanic-owned, leading all states Income 30 of Hispanic- owned businesses are in construction and other service sectors Other Central American, South American or other Hispanic or Latino origin. of the size of the U.S. Hispanic population world- wide, only 2nd Mexico's is larger. $38,039 66% 50.8 of the receipts of Hispanic-owned businesses are in wholesale trade, construction and retail trade. median income of Hispanic households in 2009 rate that inflation-adjusted median wealth fell among Hispanic households from 2005 to 2009 States and Counties States with at least a half-million Hispanic residents (16) States in which Hispanics were the largest minority group (25) MAINE 14 million Hispanics lived in California in 2010 WASHINGTON NE W HAMPSHIRE VERMONT OREGON MASSACIUSETTS IDAHO NEW YORK EHODE ISL AN D W YOMING CONNECTICUT NEBRASKA IOWA PENNSYLVANIA NEW JERSEY NEVADA UTAH COLORADO KANSAS VIRGINIA NORTH CAROLINA NEW OKLAHOMA ARIZONA MEXICO SOUTH CAROLINA GEORGIA TEXAS FLORIDA 4.7 million Hispanic population of Los Angeles County, highest of any county 46.3% of New Mexico's population is Hispanic, the highest of any state 82 of the nation's 3,143 counties that are majority-Hispanic 148% increase in the Hispanic population in South Carolina between April 1, 2000, and April 1, 2010, the highest of any state Families and Children Education 14 12® of college students were Hispanic in October 2009 including both undergrad and graduate students of the Hispanic population 25 and older with a bachelor's degree or higher 10.7 million Number of Hispanic family 3.9 million households in the U.S. Hispanics 18 and older have at least a bachelor's degree 1 million Hispanics 18 and older with advanced degrees 44% of Hispanic married couples with children under 18 and both spouses employed 63% of Hispanic family households consist of a married couple 39% of Hispanic family households consist of a married couple with children younger than 18 TM CreditDonkey Sources: CreditDonkey; U.S. Census Bureau; Office of Management and Budget (OMB); U.S. Department of Transportation (DOT); Consumer Finance Monthly by Ohio State University's Center for Human Resource Research; The White House, Šeptember 14, 2011; The National Council of La Raza (NCLR); Pew Research Center Definitions million ० 18.2% Ranking CALIFORNIA ILLINOIS