Newcomer credit cards in Mexico: getting your first card with no credit history
You can get a credit card in Mexico with no credit history at all. Fintechs like Nu México and Stori approve applicants without a Buró de Crédito file — Nu even offers a secured card (Tarjeta Garantizada Nu) specifically for people starting from zero. Traditional banks usually require income proof and history, so start with a fintech card.
How do newcomers get a first credit card with no Mexican credit history?
Apply to a fintech issuer first, because they do not require an existing history. Two names dominate this space:
- Nu México — Tarjeta de Crédito Nu: no annual fee, no minimum spending requirement, fully online application. You need to be 18+, live in Mexico, and provide an official ID (INE, passport, or residence card) plus a selfie; Nu calculates your CURP and RFC from your data. If your profile does not qualify for the standard card, you may be offered the Tarjeta Garantizada Nu — a secured card where money you set aside from your Nu account (up to $20,000 MXN) becomes your credit limit, and on-time payments are reported to the credit bureaus.
- Stori: no annual fee and no credit history required. You need to be 18+, have a valid INE, and a proof of address (comprobante de domicilio) no older than 3 months. Depending on your profile, Stori may charge a one-time account opening fee of up to $500 MXN — this is the main cost to check before accepting.
Both issuers report your payment behaviour to Buró de Crédito, so every on-time payment starts building your file. Initial limits for applicants with no history are low; that is normal and not a reason to decline.
Which beginner credit cards are worth comparing?
| Card | Annual fee | Requirements | Notes |
|---|---|---|---|
| Nu México (standard) | $0 | 18+, live in Mexico, official ID + selfie, RFC | No minimum spend; no fees for replacement or foreign use |
| Nu México (Tarjeta Garantizada) | $0 | 18+, live in Mexico, official ID | Secured: your reserved money sets the limit, up to $20,000 MXN |
| Stori | $0 | 18+, valid INE, proof of address ≤ 3 months | Possible one-time opening fee up to $500 MXN depending on profile |
| Traditional bank basic cards (e.g. BBVA, Banorte) | Annual fee and CAT vary by card — compare before applying | Usually income proof + credit history | Often harder for newcomers with no file; compare their CAT before deciding |
For newcomers, the realistic shortlist is the first three rows. A traditional bank card becomes an option after 6–12 months of reported payments from a fintech card.
How does Mexico's credit reporting system work?
Mexico has two credit information companies (sociedades de información crediticia):
- Buró de Crédito — the larger one. Its score product, Mi Score, is a number summarising how well you have handled credit. The scale has been recalibrated over the years, so confirm the current range in your own Reporte de Crédito Especial rather than trusting a number you saw online.
- Círculo de Crédito — the second bureau, with its own scoring scale. Lenders may check either or both.
Both bureaus operate on consent: lenders check your file when you apply, and issuers report your payment behaviour monthly. An empty file is normal for newcomers — you are not "in" the Buró as a defaulter; there is simply nothing to show yet.
To build your history you need two identifiers that lenders use to find you:
- CURP (Clave Única de Registro de Población) — your population registry key.
- RFC (Registro Federal de Contribuyentes) — your tax registry number, issued by the SAT. Nu calculates it for you during the application; traditional banks ask you to provide it.
You are entitled to one free Reporte de Crédito Especial every 12 months from Buró de Crédito; the Mi Score number itself is a paid add-on (around $58 MXN). Checking your own report never affects your score.
What fees and traps should newcomers avoid?
- CAT (Costo Anual Total): by law, every lender must display the CAT — a single annual percentage that rolls in the interest rate, commissions, insurance, and other charges. Condusef's rule of thumb: when the credit terms are otherwise comparable, the card with the lower CAT is cheaper. A card can advertise a "low interest rate" and still be expensive once commissions are included.
- Totalero vs. paying the minimum: if you pay your full balance every month (a "totalero"), you pay no interest, and the interest rate and CAT barely matter — focus on the annual fee and commissions instead. If you carry a balance, the CAT is the number that decides your real cost.
- Annual fee (anualidad): Nu and Stori charge none; traditional bank cards usually do, and some waive it only above a minimum monthly spend.
- Late-payment interest (intereses moratorios): not included in the CAT, and expensive. Automate at least the minimum payment so a forgotten due date never snowballs.
- Foreign transaction and cash-advance commissions: the Nu card charges no extra commission for foreign use, which is one reason newcomers like it; traditional cards vary, so read the fee table.
Frequently asked questions
How do I increase the credit limit on my Nu card?
There is no published formula. Use the card regularly, pay on time — ideally the full balance — and keep your utilisation low. Nu reviews accounts periodically and raises limits for customers with clean payment behaviour. No issuer can guarantee a timeline, and anyone selling a "guaranteed limit increase" is running a scam.
I have no history — will banks see me as high risk?
An empty file means no score, not a bad score. That is exactly the market fintechs like Nu and Stori serve: they use their own approval models instead of relying on Buró history. Traditional banks, which do rely on the bureaus, may decline you until you have 6+ months of reported payments.
Can a foreigner living in Mexico get these cards?
Yes, as long as you live in Mexico. Nu accepts a passport or residence card (tarjeta de residencia temporal o permanente) as your official ID, and Stori requires a valid INE or equivalent official ID plus proof of address. You will need an RFC for the tax system anyway, and Nu can calculate yours during the application.
What exactly is the CAT and why should I care?
The Costo Anual Total is the legally mandated all-in annual cost of a credit, expressed as a percentage. It includes the interest rate plus commissions, required insurance, and other contract charges. Comparing two cards by interest rate alone can mislead you; comparing by CAT shows the true cost. Condusef recommends choosing the lower CAT when terms are otherwise equal.
Is a secured card worse than a regular card for building history?
No. A secured card like Tarjeta Garantizada Nu reports to Buró de Crédito exactly like a standard card — on-time payments build your file the same way. The reserved money is just collateral; many newcomers graduate to a standard limit within a year of clean payments.
Sources
- Nu México — Tarjeta de crédito Nu: https://nu.com.mx/credito/
- Nu México — Tarjeta Garantizada Nu: https://nu.com.mx/tarjeta-garantizada/
- Stori — Tarjeta de crédito Stori: https://www.storicard.com/blog/tarjeta-stori
- Condusef — what the CAT includes: https://www.condusef.gob.mx/?p=contenido&idc=921&idcat=1
- Condusef — how to choose a card (CAT guidance): https://revista.condusef.gob.mx/credito/tarjeta/2012/08/cual-tarjeta-me-conviene/
- Buró de Crédito — Mi Score: https://www.burodecredito.com.mx/personas-f%C3%ADsicas/productos/mi-score.html
- Nu blog — how Mexico's credit scores work: https://blog.nu.com.mx/finanzas-personales/universo-financiero/como-saber-score-buro-credito/