Mexico City., Mexicans are afraid of the interest rates charged by credit cards. According to a study by Ualá bank, at least 24 percent of consumers do not acquire a line of credit because of the high interest rates charged by financial institutions.
Andrés Rodríguez, general director of Ualá México, revealed that 20 percent of people in our country also do not acquire financing with any entity because they are afraid of falling into a debt situation, while 11 percent avoid it because they are not sure if they will be able to pay it.
Among consumer beliefs, it stands out that 6 out of 10 people believe that if they do not have a bank account, it is impossible to obtain financing; 46 percent think that if they need money, the last option they turn to is a loan, and 41 percent “prefer to ask a friend or family member for money rather than a bank.”
However, Rodriguez said that well-used financing is a tool that can be useful for various situations, since 49 percent of people who have one use it to start a business; 34 percent to acquire goods; 30 percent use it for unexpected expenses and 25 percent to pay off debts.
In this regard, Ualá announced that it has launched a guaranteed credit card to be able to offer this product to the majority of the population. It consists of a person making an initial deposit and being able to acquire the benefits of a plastic of this type with their resources during a certain period of time.
He said that if the client maintains good payment behavior, the deposit is released in six months or a year and they are offered a line of credit for the same amount, and over time a higher amount is given. It is offered to those who are looking for their first credit card, to those with a bad history or to people who are looking to rebuild it.
“Our goal is to give a credit card to 99 percent of Mexicans. We have some projections of how many can be requested, but before giving them away, we hope that the supply will overwhelm us,” added Rodriguez.
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– 2024-09-16 01:26:51
