The worst credit cards in Mexico for 2023

A credit card is a payment card issued to users to allow the cardholder to pay a merchant for goods and services based on the cardholder’s accumulated debt

Here we tell you what are the worst credit cards in mexico And for what reason they have earned that fame.

The 3 worst cards in Mexico

These 3 credit cards can be considered the worst, this may be because they have the highest annuities or because the benefits they provide are not as good as the annuities we assume.

We start with the blue card of the BBVA bank, which has a total annual percentage of 106.8%. Also, that card is going to charge interest and some other commissions every year; Likewise, this card charges an annuity of 699 pesos plus VAT, and it also requires a minimum monthly income of 6,000 pesos to be granted, and in general BBVA cards tend to be quite bad in terms of the benefits it provides, for example, this card offers 9% in Bancomer points for all the purchases you make.

In second place, there is the HSBC card that has a total annual percentage of 104.5%, these percentages are quite high, in addition to the fact that this card also charges an annuity, even so, it is cheaper, it is 300 pesos plus VAT, but neither offers no real benefits, the only benefits are those of the other cards.

In third place is the card, and it is the BBVA Gold, in this card the total annual percentage is 90.1% which, even though it is lower than the others, is still very high and comparing it with the following ones that are going to be mentioned is They will give you an idea of ​​this percentage, this card, despite the fact that it is Gold and that the annuity is higher by 1076 pesos plus VAT, the only thing that it actually grants is the same as that offered by the blue card, and to obtain this card you must You must have a monthly income of 20,000 thousand pesos.

The 3 worst cards according to their benefits

We start with the first card according to benefits, and this is HSBC, that is, another HSBC, apparently like BBVA, they do not have very good credit cards, this card covers an annuity of 730 pesos plus VAT, it requires that you have a minimum income of 5,000 thousand pesos per month and does not offer any benefits and is even worse than BBVA because there is no points program.

In second place, there is the Oro Banorte card, this card has a cost of 930 pesos plus VAT per year, in addition to requiring 12 thousand pesos of monthly income, the total annual cost is relatively low compared to the other cards that we have already mentioned, even compared with some personal credit interest rates that could be charged, the annual cost of this is 24.4%, we must only consider that it does not offer any benefit other than a points program.

In third place on this list of cards that do not offer very good benefits in relation to the annuity they are charging, is the Citibanamex platinum card, being a platinum card of course we expect it to have better benefits, and the main reason for this card makes the list is because Citibanamex itself offers a better card for the same cost.

These are the three worst credit cards, according to Condusef

The institutions evaluated as credit card issuers represented 99% of the market intervention, with a credit portfolio of 358.346 million pesos.

The National Committee for the Defense and Protection of Financial Service Users (Condusef) showed results in terms of financial clarity and quality of information on credit card products:

• Invex card with 5.8.
• Banamex card with 5.7
• Sociedad Financiera Inbursa with 2.4, which placed its credit cards as the worst valued.

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The main disadvantages of these cards

• The fixed contract does not include the concept, amount and frequency of commission, modification procedures or procedures for the client to terminate the contract.
• The cover does not include the highlighted total annual cost (CAT); the normal interest rate and suspensions of payments signed by the client are not reported.
• The account statement does not contain data from special units (UNE) or Condusef.
• This website does not contain links or lists of committees.
• The website does not contain risk legends.
• The informative brochure does not include CAT (valid for at least 6 months, and the cost of typography is 100% of the cost), nor does it include the name and logo of the financial institution.
• The ad does not include concept and amount of commission, nor CAT (the validity is at least 6 months and the layout fee is 100% of the cost).
• These will be subject to the appropriate laws, according to the CONDUSEF, 26 sanctions will be made, for a total amount of approximately 4.3 million pesos.

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