Can you have a card without a credit bureau?
To obtain a credit card it is necessary to have a history, or an account in a bank. However, many people are not yet part of the financial system because they are very young.
Another aspect why a bank does not issue a credit card is because they have a bad credit rating in the Bureau, and for this reason they can no longer process another plastic.
Currently there are more than 25 million cards throughout the country, but not all people manage to manage them properly, so some end up in debt and therefore some financial institutions no longer trust to deliver another plastic.
However, some banking institutions have so-called Guaranteed Credit Cards, which are for this type of people who have a debt with the bank or for those who want to start having a history.
What are secured credit cards?
Also called cards without a bureau, they are an option to demonstrate to the institution that it is possible to make payments to have a line of credit in the future.
The guarantee is a minimum deposit that the user places on the card, this amount being an endorsement for the bank. This money can be replaced or returned to the client, although this will depend on the bank, and will be done when the user demonstrates that they have the ability to pay.
It is likely to be confused with a debit card, but it is not, because the Guarantees are linked to an investment account, while debit to a checking account that is the money that the user has for payroll income or because he or she enters it.
Not all banking institutions have this type of card, the ones that can be highlighted are the following: Vexi, Albo, Stori, Banco Azteca and Banco Bajío.
It does not require proof of income nor does it charge per annuity. However, it requests an opening commission of $ 250 pesos for those who have a good track record, this product is called Vexi Avanzada.
But if you are just starting out or want to rebuild, Vexi offers Beginnings, with a cost of $ 450 pesos per opening.
The minimum income required is $ 2,000 pesos and can be purchased for months without interest. If you want to request it, it is possible to process the plastic on your website.
The annual average Interest Rate is 35.64% for Vexi Avanzada and its CAT of 49.10%. In your starting product the rate is 54.08% and the Total Annual Cost (CAT) of 78.07%.
It is actually a prepaid MasterCard card linked to a checking account. Its main characteristic is that it does not charge commissions, not even for closing the account. The minimum amount to request the card is $ 20 pesos.
But it is necessary to have a cell phone that is compatible with your application, since it will be through this means that the banking movements will be handled.
HEY from Banregio
For approval it is necessary to give a minimum deposit of $ 3,000 pesos and after six months you can withdraw that money and request a standard one at the Banregio bank.
There is no annual fee or low interest rate. The credit line can reach up to $ 75,000 pesos and can be requested completely online.
The average CAT is 43.6% without VAT and the average annual interest rate is 36.52%.
Like the previous ones, this new option does not ask for proof of income or history, it is only necessary to make a guarantee deposit of $ 2,000 pesos, in case it is not approved at the time of requesting it on its website.
This plastic is accepted in any store in the world through MasterCard. There is also access to more than 6 thousand ATMs of the Afirme bank.
It should be noted that it is required to download its app to make several bank movements. In addition, there are rewards programs or 5% Cashback (return the money) in establishments such as Dominos Pizza and Starbucks.
In all its products, its interest rate is 69.90% and the CAT of 97.3%.
Banco Azteca Guaranteed Gold Card
To obtain this card, it is necessary to have an account at Banco Azteca with a minimum balance of $ 10,000 pesos. It is accepted in national and international businesses and has VISA protection and insurance against theft or loss.
It does not have an annuity, but for this you have to make a purchase per month or have cash in banks. It also returns 20% of the total of the first purchase.
The Average CAT is 48.9% without VAT and the average variable interest rate per balance is 43.80%.
BanBajio Guaranteed Credit Card
One of its benefits is the possibility of transferring debts from other credit cards to this plastic and deferring it to 12 months. You can also accumulate CashBack points on all purchases and take advantage of interest-free months at various establishments.
Its coverage is national and international. One of the criteria to request it is a verifiable minimum income of $ 7,000 pesos.
The annuity is $ 550 pesos and its average CAT of $ 77.3 without VAT.
Requirements to request a guaranteed card
Most of these cards require proof of address for no more than three months, an official identification and even data from the debit account held in a bank, this to know the payment capacity of the interested party, but not all require it.
Banks like Stori have a waiting list to choose from those who can obtain a plastic, or to offer you a product according to your needs.
Advantages and disadvantages of a si bureau card
The greatest advantage is for those people who want to start to get a credit history or continue to have a credit even when they owe a card, although it should be noted that it is advisable not to have more than two plastics, especially if you do not know how to manage money .
Now, its biggest disadvantage is that by not requesting income or not reviewing the history, the commissions and the Total Annual Cost (CAT) is one of the highest.
Greater attention was paid to the CAT because this percentage represents the total expenses of the card, which are commissions, collection payment, interest and more amounts. Between The higher the CAT, the more expensive the card.
Although it should be noted that if this percentage is high in this type of card, it is because by offering a credit to a person without a history, or who is still in the bureau, the bank implies greater risks that the client may not be able to manage their account well. .
The recommendation of experts is to compare before hiring, and read the contract of each institution because the details of each card will be better known there, and in case there is a problem, it will be easier for the complaint to be addressed.