Best Credit Cards for university students in Mexico

4 min read
1 year ago

Best Credit Cards for university students in Mexico

What are college credit cards? What benefits do they have? What is the best card for university students in Mexico?

If you're studying for a degree and just starting to manage your money, it's hard to say "no" to the first bank that offers you a credit card.

This is indicated by an analysis by the Fundación de Estudios Financieros (Fundef), by noting that 83% of university students do not buy their first plastic before accepting it.


With this in mind, our objective will be to tell you everything about credit cards for university students, from what they are and how they work, to what are the 3 best options for you to start your history correctly and take your first step toward future financing.

What are college credit cards? What benefits do they have? What is the best card for university students in Mexico?
 

If you're studying for a degree and just starting to manage your money, it's hard to say "no" to the first bank that offers you a credit card.

This is indicated by an analysis by the Fundación de Estudios Financieros (Fundef), by noting that 83% of university students do not buy their first plastic before accepting it.


With this in mind, our objective will be to tell you everything about credit cards for university students, from what they are and how they work, to what are the 3 best options for you to start your history correctly and take your first step toward future financing. What Are The Best Credit Cards For Students With No Credit?

What is a student credit card?

A credit card for University students is, without further ado, a credit card, that is, the union of revolving credit and plastic that is used to access the funds.

As its name suggests, it is aimed at young people who are pursuing a professional career.

Being focused on people with no credit history, they are approved with risk models based on the future economic potential of each student according to their university and the career they are studying.

What's so special about cards for college students?

Although they have specific benefits (thus generating competition between banks), they have common characteristics that make them unique in their segment:

  1. They do not require a credit history

    Banking institutions know very well that applicants are young and seek to start in the world of credit cards (hence the aforementioned risk models).

  2. They do not require proof of income

    Although more and more students are studying and working, banks consider that school is a priority, so they will not request proof of a minimum monthly income, however, they do take into account the money that students can receive by their parents or from informal jobs.

  3. Proof of studies

    This requirement was essential in the past, however, the entry of new competitors has simplified the requirements.

Reasons to request a credit card for university students

  • Paying for trips

    If you plan to travel, it will be difficult to make a reservation or buy a ticket if you don't have a card.

    You can ask your parents for it, but how long will you depend on them? In addition, you can pay monthly without interest on airlines and travel sites.

  • To buy online

    Only in 2017, in Mexico, sales of 17.63 billion dollars were generated, which were carried out through the Internet.

    Thus, it is possible to notice the relevance of having a means of payment that allows us to make digital purchases.

  • To buy your first furniture

    Not only furniture, any "major" purchase you make while studying at university can be less complicated if you finance yourself with a promotion (MSI, for example).

    You may not be able to afford a $6,000 refrigerator outright, but you can afford $1,000 a month for the next 6 months.

  • For the additional benefits

    Consider that a card can be the door to different benefits (as long as you use it well). Everything will depend on the rewards you are looking for since not all of them offer the same thing.

  • To build your credit history
 
In case you have found a mistake in the text, please send a message to the author by selecting the mistake and pressing Ctrl-Enter.
zobia 31
Joined: 1 year ago
Comments (0)

    No comments yet

You must be logged in to comment.

Sign In / Sign Up