Despite the fact that the Bank of the Republic has already halted the rise in interest rates, these remain high in most of the products offered by financial institutions. However, some banks have applied a reduction in their rates to alleviate the financial costs of their users.
According to data from the Financial Superintendency, these are some of the entities with the lowest interest rates in the market. In the case of credit cards, for income of up to two minimum wages, the lowest rates in the term of 207 consumptions between 25 and 36 months, are those of Coopcentral, with a weighted rate of 23.76%.; Trust, with 28.77%; and Bancoomeva, 29%.
In this same category, there are banks like Tuya (41.59%)Banco de Bogotá (40.73%), Banco Falabella (40.35%) and Scotiabank Colpatria (39.58%).
In the period of 203 consumptions between two and six months, the entities with the lowest rates are Coopcentral (23.28%), Trust (28.94%) and Banco Pichincha (30.81%); there is also Banagrario (30.82%) and Giros y finanzas (31.49%).
Coopcentral, Confiar and Banco Pichincha also have the lowest rates in the term of 206 consumptions between 19 and 24 months.
In 204 consumptions between seven and 12 months there is the Coopcentral bank (23.37%), Banagrario (26.78%) and Confiar, with 28.92%. Among the banks with the highest rates for this term are Tuya (40.08%), Banco Falabella (39.89%), Bbva (39.13%) and Scotiabank (39.04%).
According to the Financial Superintendence, Itaú (17.86%), Coopcentral (22.14%) and Finandina (27.65%) have the lowest rates in the category of 208 uses over 36 months, followed by banks such as Av Villas, with 28.23%, and Juriscoop CF, with 29.86%. Scotiabank Colpatria, Juriscoop CF, Banco Falabella, Banco Bogotá and Av Villas, for the term of 202 consumptions in one month, have rates of 0%.
According to analysts, the use of credit cards, specifically, as a form of financing, should not be the first option of people, due to the economic context that has developed during the year; but as a means of payment it is viable.
“Credit cards are means of payment and financing systems. At times of high inflation and high rates, they must be used exclusively as a means of payment, not as financing; although if there is an agreement with interest-free warehouses, it is an option”, explained Diego Palencia, vice president of research and strategy at Solidus Capital Investment Banking.
If you decide to purchase and use this financial product, you need to compare rates, explore various options, and consider. “The cards must be used at a fee so that they do not charge interest”, commented Omar Suárez, manager of Casa de Bolsa.
It is better to know the benefits of the cards
According to analysts, it is necessary to take into account the benefits offered by the credit cards of each banksince some handle higher rates, but better services, alliances, bonuses, discounts, etc.
“Credit cards have other benefits, agreements with companies, life miles, points, discounts and tickets to VIP areas at airports. It is a set of things that must be taken into account; There are some cards that are more suitable for some people than for others, for example, if you travel all the time, you can give more weight to a card that allows the greatest number of entries in VIP lounges at airports”, said Omar Suárez, strategy manager at Casa de Bolsa.
2023-08-26 16:29:52
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