# Credit cards in Mexico



## lizzers (Sep 21, 2008)

Have any expats had experience getting a credit card in Mexico? I am trying to build up my credit here and would like to get one, but wanted to hear other people's experiences...


----------



## RVGRINGO (May 16, 2007)

If you like really high rates of interest, like 30-40%, go for it. There will even be other 'fees'. 
Seriously; I wouldn't touch a Mexican credit card with a ten foot pole.


----------



## pappabee (Jun 22, 2010)

Mexican issued credit cards are for the birds. The dodo's. High interest charges, nice credit limits (because the banks want you to carry a balance), fees for being over limit, having an unpaid balance, no usage for 30 days, etc. 

If you want to build up your credit standing go to Capital One or someone like that and do so in the states. Mexico is not where to do it.


----------



## joaquinx (Jul 3, 2010)

As above and department store credit cards are even higher. Want credit? Get a Telcel plan. They really investigate you throughly and I've heard that they actually visit your home address to verify that you live there. You will need at least a FM3 or even a FM2 type visa. Drop in a Telcel store (not a distributor) and ask.


----------



## lizzers (Sep 21, 2008)

I've got the Telcel plan...and they do investigate the **** out of you. Thanks.


----------



## AlanMexicali (Jun 1, 2011)

*Telcel*



lizzers said:


> I've got the Telcel plan...and they do investigate the **** out of you. Thanks.


Given the nature of Mexicans to prioritize their money to include things like Fiesta de Quinceañera, baptisms and first communion, car dies and they need to buy another $500.00 US one, and many other things us NOB would find irrelevant or unimportant they will not pay credit to holders for months on end. In that way credit has and still is considered smart to give only to the professional class, not everyone who applies. 10 or 15 years ago nobody could get credit unless at Coppel, Famsa, or like minded retailers who charge double for everything when sold on payments and repossession was the norm when 4 or 5 payments were missed. Credit cards did not exist. house mortgages did not either except the 3 federal Govt. ones they at that time were only good on new houses generally. Cell phone plans came around through selling them to govt. agencies in the first, then larger businesses, then the public, which has only been going on a few years now to the public. Be happy you qualify for a plan. That means you fit in with the middle class professionals. Being working class in Mexico means you have to buy the expensive Telcel minutes at OXXO forever or at least for now.


----------

