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Mexican credit card


cedros

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I went to my local HSBC bank (where I have had an account for years) yesterday and asked about getting a credit card. The manager said if I was 69 years 11 months old I could get one. If any older (yes) I couldn't. I remember that now. Is it a law or just the policy of all the banks that if you are 70 or older you can't get a CC? The manager thought it didn't make any sense but there was nothing he could do. 

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I didn't say "Mexican bank".  However, Banamex USA didn't have a problem with it (while they existed) and I know several people over 70 who had accounts there, complete with credit cards. It was a huge inconvenience when they cut off expats accounts and subsequently went belly up. I don't know what the policy is at the Mexican Banamex.  We closed that account.

Personally, I have found that having a credit card is very important, even for those of us who pay off the balance every month. How else can one buy from places like Amazon or other remotely located sources?

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2 hours ago, addtocart said:

Makes sense -- they don't want you to kick off owing them money.

It doesn't make any sense as the bank managers said to me. He said older people are more likely to be good customers and pay their debts. When someone dies their debits are covered first from the estate.

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1 minute ago, NLU said:

Spencer:
Age discrimination.
legal here?

Apparently yes.  In fact, when an employer advertises a job opening,  they specify age range and sex wanted. I see it frequently posted.  "Political correctness" doesn't seem to have caught on in Mexico. At all.

 

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Cedros we went through the same thing with Banamex and Bancomer when I was 69 (  was turned down) and my husband is 4 years older then  we became Mexicans and we were offered credit dards in our 70´s.. So the 70 year old rule seem to apply to foreigners who have no record with the credit buro., that is all I can think of. We even got turned down by Bancowalmart at the time..Now I had to put Amex on the black list because they are calling me every day to offer a card and I am 72.

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1 hour ago, NLU said:

Doesn't the Mexican Constitution forbid discrimination against foreigners?

 

Good question.

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3 hours ago, NLU said:

Spencer:
Age discrimination.
legal here?

Believe it or not, this isn't even covered by age discrimination laws in Canada and probably not in the US either. Years ago I applied for an Alaska Airlines credit card and was repeatedly turned down, even though I met their minimum income and credit rating criteria. I phoned the company which administers the credit cards for Alaska Air, asking why I was being rejected. After calling up my application and rechecking my credit rating, which the agent said was "excellent", he reticently told me that it had to do with my age. When I asked him to elaborate, he said "Well, we would expect to see a person of your age having had a credit card for longer than you have ." I said "So, you mean to tell me that if an 18 year old, with no credit history applied for this credit card, they would be given it?" The answer was "Well, yes."

At that point I was in my mid-50s and had had a credit card for 7 years- I'd never needed one before that. I called the Canadian Govt. anti-discrimination office and explained what I had been told, asking if that wasn't considered age discrimination.The agent told me it certainly was, but that banks and credit card companies can turn anyone down for any or no reason, they are exempt from those laws.

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11 hours ago, gringal said:

Personally, I have found that having a credit card is very important, even for those of us who pay off the balance every month. How else can one buy from places like Amazon or other remotely located sources?

I use my USA-based debit card to buy from either Amazon.com or Amazon.com.mx.  Same for purchases on eBay--USA debit card via PayPal.  Actually, same for any purchase I make at any sort of online store, including airline tickets.  ETN bus tickets, same thing.  No credit card needed.  

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Last year, I bought a TV on Amazon Mexico at a 10% with my Mexican wife's Mexican credit card, the 10% discount being available ONLY with a Mexican credit card. But, her credit limit isn't as high as I might like, so I figured to get one of my own. Alas, NO to a 78-year-old with great credit.

Otherwise, I surely wouldn't care!

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On ‎10‎/‎26‎/‎2018 at 9:02 AM, gringal said:

If it were me, I'd change banks.  They don't all have that policy.😉

I have a Canadian credit card but I wanted a backup CC in case the one I have didn't work somewhere. I can't get another Canadian CC from another institution unless I apply from inside Canada where I am unlikely to be for years.

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I don't know about ALL Mexican banks, but here is a workaround for those folks who don't have a U.S. address or can't get a credit card, etc.

First: go to: https://www.americansabroad.org/ and join. 

You will learn that there is a credit union:   "State Dept. Federal Credit Union"  (S.D.F.C.U) which has savings, checking and credit cards available for expats.  They have a credit card which currently has a 8.99% interest rate on the balance owed.   Good rates on other features.  No need to go there in person or have a U.S. address.  Not essential, but if you make a substantial deposit in a savings account, you will get a high limit on your credit card.  They use VISA.

This has been a solution for a number of people I know.  I first heard about it on here from another member and it was a good thing for people that Banamex USA dropped a few years ago.

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3 hours ago, gringal said:

I don't know about ALL Mexican banks, but here is a workaround for those folks who don't have a U.S. address or can't get a credit card, etc.

First: go to: https://www.americansabroad.org/ and join. 

You will learn that there is a credit union:   "State Dept. Federal Credit Union"  (S.D.F.C.U) which has savings, checking and credit cards available for expats.  They have a credit card which currently has a 8.99% interest rate on the balance owed.   Good rates on other features.  No need to go there in person or have a U.S. address.  Not essential, but if you make a substantial deposit in a savings account, you will get a high limit on your credit card.  They use VISA.

This has been a solution for a number of people I know.  I first heard about it on here from another member and it was a good thing for people that Banamex USA dropped a few years ago.

I was thinking there could be the same at some Canadian credit unions.

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I went to trouble and expense to join SDFCU and then found out that my local CU has no problem with living outside the US fulltime.  There may be CU's that you are eligible to join for free based on your previous employment, non-profit organizations you belong to, etc.  CU's issue cc's as well as debit cards.

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20 hours ago, More Liana said:

I use my USA-based debit card to buy from either Amazon.com or Amazon.com.mx.  Same for purchases on eBay--USA debit card via PayPal.  Actually, same for any purchase I make at any sort of online store, including airline tickets.  ETN bus tickets, same thing.  No credit card needed.  

I have a debit card from Canada and one from Mexico but don't use them to buy things as they don't cover you for fraud like credit cards do.

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