Choosing the best credit card, among hundreds of options in Mexico, is not an easy task. Especially when all banks are bombarding you with their advertising everywhere and calling you on the phone to convince you that they are the best option.
It would be impossible to say that a credit card is the best of all, or even that one is better than another, since there is simply no perfect card.
Choosing the best credit card for you depends specifically on your profile and your needs. In this article we tell you the factors and characteristics that you have to take into account to make sure you choose the ideal credit card specifically for you.
Many times we think that the best credit card is the one with the lowest interest rate and, although it is a very important factor, it is not true in all cases.
If you are a totalero, that is, you make the payment to not generate interest every month (as we all should do it!), Then the interest rate should not be such a relevant factor for you.
Choosing a credit card, being a totalero, allows you to focus mainly on the benefits, the use you want to give the card and other costs.
In case you are not a totalero, this should definitely be the most important factor for you. If you are not a totalero look for the card with the lowest interest rate (and, of course, try to become a totalero as soon as possible)
Annuity and other commissions
The interest rate is not the only cost associated with a credit card. The vast majority of cards charge other fees.
The annuity is the most common of them and is basically a fee, charged once a year, for the simple fact of having the credit card. The cost of the annuity is generally related to the type of credit card (being the classic cards the ones that charge the lowest annuity and the gold and platinum generally the highest) and with the benefits that it grants (as a general rule we could say that the higher number of benefits offered, the annuity will be higher).
Other types of commissions that you must take into account are: late payment commissions, cash disposal commissions or any type of insurance that you want to include on your card. Always check the cost list for each card you are thinking of purchasing!
The ideal, of course, is always to pay as little as possible. Although in some cases it may be attractive for you to pay higher commissions in exchange for obtaining benefits that are useful and attractive to you.
Some other cards offer to eliminate the annuity if you make at least one purchase per month or if you spend a set minimum, this is a good option you can consider!
Rewards and benefits programs
It is important that we take advantage of our credit cards (and not let them take advantage of us!). To become more attractive, almost all cards are accompanied by a rewards program and other benefits. Most of the rewards programs are designed to give you back a percentage of each purchase you make, some do it through points programs that you can later use to buy in establishments or on banks own platforms or some others literally return you a percentage of your purchases through an electronic wallet.
Other important benefits offered by some cards are access to VIP lounges at airports, free transportation to or from the airport, free insurance and concierge service. If you travel a lot, these could be attractive benefits for you. If on the contrary, you do not travel much, we recommend you not to take them much into account.
In addition, some other cards allow you to transfer purchases to months without interest or give you benefits when shopping online.
The important thing is that you identify which benefits are the most attractive and most useful for you and that you look for the card that offers them to you and, of course, when obtaining them, get the most out of them!
This factor depends a lot on the way each person has to use their card. For example, if you are someone who pays your card using cash, it is important to consider the amount of points the bank offers you to make payments, how uncomfortable it would be to have to struggle to pay your card!
If, for example, you are someone who prefers to constantly review your purchases, movements and the status of your card, it is important to look for a bank that offers you a good digital platform, on the internet or by mobile application, in order to do so.
The key is to find the card that will offer you the tools and features you need to avoid complications.
More and more people use our credit cards to buy online. Knowing that there are some risks associated with this type of purchase (and, in many cases, also with purchases in stores), looking for a card that offers us security tools is important. Some credit cards allow you, from a mobile application, to turn your card on or off when you decide or even generate a temporary credit card (associated with your physical card) to make purchases online. This type of tools will prevent headaches!
As we commented previously, choosing a credit card is a unique exercise for each person. We all have different needs and requirements and everyone will use it for different purposes. Having to choose between different cards, take into account the different factors that we explain and based on that choose the one that will be the best credit card specifically for you. Some platforms such as Corpu , can help you find cards that line up with the features you are looking for faster.