Las Credit cards are tools that help finance the purchase of goods and services that cannot be paid for in effective and immediate.
Plastics have become the best friends of many people, but for others they are a headache, since they are often used without knowing their dynamics in depth.
Over the last year, the cost of credit cards has more than doubled, according to dBank of Mexico (Banxico) data.
Credit card users in the country paid up to 130 percent of the Total Annual Cost (CAT) on their credit cards, which makes this banking product one of the most expensive. Even consumers came to pay regarding 6 thousand pesos for the annual commission.
According to Banxico, CAT is a standardized measure of the cost of financing, expressed in annual percentage terms that, for informational and comparison purposes, incorporates all the costs and expenses inherent to the credits granted by the institutions.
in the report Comparative Information on Credit Card Costs for December 2021it was found that the classic cards are the most expensive in the market, while the gold and platinum cards report the most outrageous annual commission, although they usually offer a larger line of credit, more promotions and benefits for users.
Conversely, the cards that they do not charge that commission They were: Free, LikeU, Zero and Aeroméxico Blanca de Santander; Hey, Classic, More, Gold and Platinum from Banregio; HSBC’s 2Now and Zero; as well as Citibanamex Simplicity, BanCoppel, Volaris Invex 0, Oro Azteca and HEB Afirme.
What are the most expensive credit cards in Mexico?
classic cards
With a limit of 4 thousand 500 pesos:
- Banorte Ke good: 133.7% of CAT
- Card 40 – from Banorte: 133.7% of CAT
- La Comer Banorte: 131.4% of CAT
With a credit limit of 4 to 8 thousand pesos
- Blue BBVA: 117.2% of CAT
- Striped BBVA: 116.9% of CAT
- IPN BBVA: 116.7% CAT
With a credit limit of 8 thousand to 15 thousand pesos:
- Ideal Scotiabank: 105.9% de CAT
- Classic Banorte: 105.3% CAT
- Blue BBVA: 102.9% of CAT
With a limit greater than 15 thousand pesos:
- Ideal Scotiabank: 106.1% de CAT
- Blue BBVA: 93.8% of CAT
- IPN BBVA: 93.3% CAT
Gold Cards
- HEB Affirm: 96.6% CAT
- UNAM BBVA affinity: 92.3% of CAT
- AT&T Elite (Banorte): 86.2% of CAT
Platinum Cards
- Scotiabank AAdvantage Platinum: 66.0% de CAT
- United (Banorte): 70.5% of CAT
- Black Unlimited (Santander): 72.3% de CAT