Credit cards are widely used means of payment by consumers in all countries of the world, so in every corner of the world someone is paying by credit card; but, with its widespread and widespread use, there is a need to learn the use of this means of payment, which is actually a debt instrument, so it is imperative to understand well what is a credit and especially , understand that there are some cards that are more expensive to customers (either because of the interest rate, other commissions and expenses) and other cards that represent less expenses to that client.
We must start by mentioning that credit cards are the most common and used type of credit in the world, but that, being a credit, it has several costs, one of the main ones – and the one that we will actually deal with on this occasion – It is the interest rate. The interest rate is the cost of a credit, because in the deepest a credit is a kind of rent of money and for that rent you have to pay, as we would pay if we rented a car, in the same way, having no cash for a purchase, the bank “puts at our disposal” an amount of money that we can use to buy what we crave, but we must pay the bank a certain amount of money monthly for the money we are using; besides part of paying the monthly interest we must pay a certain amount of capital that we owe so that the debt “decreases” that is how they calculate our monthly payment.
There are some banks or financial institutions that “charge” less and others that charge more, in fact, there are institutions that charge ridiculously high amounts for the use of money and if we really want to save and not pay the “dumb”, we must choose the card of credit that we pay as little as possible, because in the most concrete all offer us the same.
Which one is the most expensive credit card in Peru?
The most expensive credit card in Peru is Banco Azteca, which charges a TEA of 153.05%, practically more than triple the average of the system; while, in the second place, they tie the credit cards of Banco Ripley and Financiera Oh !, with a TEA (Annual Average Rate – in spanish -) of 73.04%; in the third place the Falabella Bank with an ASR of 55.03%. We can see that foreign banks are the most expensive in Peru except Financial Oh! which is Peruvian The cheapest credit card is that of Banco de Comercio with a TEA of 24.02% on average, after which the BANBIF follows with an average TEA of 30.00%. Banco de Crédito BCP has an average TEA of 37.43% that is below the system average.
Which one is the best credit card in Peru?
- Banco de Comercio, average annual rate 24.02%
- BANBIF, TEA average annual rate 30.00%
- Banco de Crédito BCP, average annual rate 37.43%
- Scotiabank, average annual rate 39.15%
- Banco Pichincha, average annual rate 41.37%
- Banco GNB, average annual rate 43.95%
- Financiera Crediscotia, average annual rate 49.13%
- Interbank, average annual rate 50.34%
- Banco Continental, average annual rate 51.13%
- Banco Falabella, average annual rate 55.03%
- Tarjeta oh!, average annual rate 73.04%
- Banco Ripley, average annual rate 73.04%
- Banco Azteca, average annual rate 153.05%
Average of the Financial System: 47.49%
If we consider the best cards, the cheapest third would be: Banco de Comercio, average TEA 24.02%; BANBIF, TEA average 30.00%; Banco de Crédito BCP, TEA average 37.43%; Scotiabank, TEA average 39.15%; Banco Pichincha, TEA average 41.37%. Finally, in personal opinion, seeing the average rate of Banco Azteca cards, nobody should acquire a credit card in this financial institution, because if you buy something valued for example in S / 1,500.00 with the Banco Azteca card and you pay it in 36 fees, you will pay S / 4,629.44, without considering commissions and expenses (only TEA, not TCEA), so you could pay a little more, so you would be paying more than triple for your purchase. Evaluate well the list that we leave you and please consider it for your future expenses.