Banamex is a bank that is mainly located in Mexico though they have expanded into areas of the southwestern United States. This bank has many different credit cards available to their customers including a MasterCard credit card.
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There are many websites available that offer financial advice. Some of these respected sites include http://www.smartmoney.com
Terms of the Banamex USA Master Card
This MasterCard has an annual percentage rate between 11.99% and 21.99%. The interest rate the customer will have to pay depends on their personal credit score. This higher someone’s credit score is, the less they will have to pay in credit card interest.
This same interest rate applies to balance transfers, but the annual percentage rate for cash advances is slightly higher at 25.24%. This card offers a special introductory annual percentage rate of 0%.
What most people do not realize about these special introductory interest rates is that if they are late with even one payment, the 0% rate will be forfeited and then the cardholder could have an interest rate of up to 29.99% depending on their credit score.
Credit card interest charges can quickly get out of control and eat up someone’s available credit line. If someone wants to avoid paying interest costs all together all they have to do is pay their balance in full each month.
Banamex USA Master Card Fees
The fee for both balance transfers and foreign purchases is 3%. The minimum balance transfer fee is $5. The cardholder will have to pay a bit more in fees for a cash advance. The fee for a cash advance is 5% with a minimum fee of $10.
If the cardholder makes a payment late, they will be charged a fee of $35. The cardholder will also have to pay a fee of $35 if their payment is returned for whatever reason.
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