What are the requirements to access a credit card in Peru?

A credit card is a means of payment issued by a financial institution that allows you to manage your purchases. Unlike a debit card, in which movements are charged directly to the account, this allows you to accumulate expenses within established limits of money and time. Through this financial instrument, users will be able to purchase products or services, without having to have cash, and pay for them at a later date.

If you are interested in applying for a credit card and knowing if the bank will grant it to you, you must meet certain requirements. Remember that the financial institution seeks to avoid risks and will evaluate your profile to ensure that you are a reliable client. Below, find out all the steps to obtain it and learn how to avoid paying for membership. Pay attention and take note!

What are the requirements to access a credit card in Peru?

According to Enzo Giamper, financial specialist, one of the main advantages of using a credit card is that it allows you have money available in your pocket, as well as flexibility in payment methods in the short or long term. In this sense, to have this financial instrument, there are a series of requirements indicated by the Comparabien platform:

• Be of age.
• Have a bank account.
• Have a valid ID, water/electricity bill, a payment slip or receipt for fees.
• Not be on Infocorp’s list of defaulters.
• Prove a certain amount of income.
• Have a good credit history.

Please note that these requirements are referentialbecause each financial company asks for some specific conditions.

How do I find out how many cards I have in my name?

If you are looking to know the number of credit cards you have, you can contact the banks with which you have maintained an account and ask questions about it. In addition, the Superintendence of Banking, Insurance and AFP (SBS) can provide you with information about any bank account in your name. Remember that this entity has a tool to verify your credit history and check if an unusual movement occurred. You just have to follow these steps:

• Go to the SBS website and look for the ‘debt report’ section or click HERE.
• Then, log in or register with your ID and email.
• Once you log in, you will be able to review your credit history to identify unusual movements and verify debts and active cards.

Credit card: how to avoid paying membership fees?

The annual membership is a commission that is charged by financial institutions to cover the benefits offered by having your credit card. For example, the use of VIP rooms, discounts on concerts, miles, exchanges, among other services provided in the different establishments. If you want to avoid paying, here we leave you some information;

• The most common method to avoid paying membership is subject to the offer offered by each bank, that is, consuming a certain monthly amount during the 12 months of the year to avoid being charged the amount corresponding to this commission.
• If when you obtained your credit card you were not informed about the possibility of a minimum consumption to avoid payment and you usually use significant amounts monthly, you can contact your bank.
• In some cases, customers who have a long-standing relationship with the bank and frequently use its products may receive a discount or be exempt from this fee.

What are the recommendations to make good use of credit cards?

According to finance expert Enzo Giampier, if a credit card is used correctly as a means of payment and not debt, it can save many emergencies. Pay attention to their recommendations:

• Prepare a budget.
• Schedule payments.
• Don’t stop using the card.
• Choose financing wisely.