# ~~~~> Credit Cards



## Silence820 (Nov 5, 2009)

Can anyone give advice on how the credit system works in mexico regarding obtaining a credit card?


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## RVGRINGO (May 16, 2007)

The best advice I can give on Mexican credit cards is:
1. If you can qualify for one, you don't need it.
2. If you like really, really high interest rates, you'll love it but the bank will love you more.
3. If you are smart, you won't get one.


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## TundraGreen (Jul 15, 2010)

On the other hand debit cards are easy to obtain and very handy.


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## conklinwh (Dec 19, 2009)

1st of all, I hate debit cards as I really lose control of timing. Credit cards have no interest if you pay in full on time each month. My big issue was cross currency fees that were implemented a few years ago. Capital One has a no foreign transaction fee that works worldwide. Rather than change, I called my two major card providers and said that if they waived foreign transaction fees that I would shift my usage to them. One blinked and waived the fee. Now use in each country varies. In Mexico, I always ask if descuento para efectivo. If yes, I pay cash. If not I contemplate the card as a no cost way to import part of my pension.
BTW, I do track the conversion rates and usually better than other transfer options including ATMs.


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## TundraGreen (Jul 15, 2010)

I guess everyone has to find a solution that works for them. I have a couple of Mexican bank accounts and debit cards for both. The debit cards work like credit cards in that they let me do purchases on the web. Then I have US debit and credit cards. I use the US cards for purchases in dollars and the Mexican ones for purchases in pesos. Never any exchange fees. Occasionally I move some money from the US to Mexico, but I don't do that very often. Last month I was in a little town with no ATM. There was a telmex office that would allow you to get cash but only from a Mexican bank. I was the only one in the group with Mexican bank account so I had to get cash for a couple of us.


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## conklinwh (Dec 19, 2009)

You are right of course. I just view debit cards as a bank versus me control issue.
I believe key is to view Mexico as basically a cash society and to have multiple levels available for day to day, planned, and unplanned uses. How best to set this up and augment with plastic is as much personal as not.


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