How to Build Credit & Apply for a Credit Card in Mexico as an Expat (2025 Guide)
Published: 02nd May 2025 | By: Expats Living Abroad
Introduction Moving to Mexico is an exciting chapter in any expat's life, but amidst the sunshine, tacos, and vibrant culture, one critical element that can make or break your experience is your ability to establish and grow your financial presence—specifically, your credit. Unlike some countries, Mexico does not recognize your existing credit score from abroad. So, whether you're from the U.S., UK, Canada, or Europe, you're essentially starting from scratch.
This blog is your comprehensive 2025 guide on how to build credit in Mexico and apply for a local credit card as an expat. We'll walk you through everything from the paperwork you'll need to insider tips on how to boost your approval chances. We’ll also cover the smartest ways to build credit over time, and where fintech services like Wise, Revolut, and American Express (Amex) come into play.
Why You Need Credit in Mexico Establishing a credit history in Mexico is essential for more than just a credit card. It can affect your:
Ability to rent a long-term apartment or home
Application for car financing or a personal loan
Utility service approvals
Phone and internet contracts
In Mexico, two main credit bureaus track financial behavior—Buró de Crédito and Círculo de Crédito. These bureaus collect data on your credit cards, store cards, mobile contracts, and utility payments. Building your credit responsibly from day one will help open many doors.
What You Need to Get Started Before applying for a credit card or loan, you must secure certain legal and financial documents. Here’s a checklist:
Valid Passport & Mexican Residency Card (Temporary or Permanent Resident)
CURP (Clave Única de Registro de Población)
RFC (Mexican Tax ID issued by SAT)
Comprobante de Domicilio (Proof of Address)
Bank Statements or Income Proof (from employment, pension, or remote work)
Tip: Many expats successfully obtain their RFC with the help of relocation professionals like ourselves or by visiting the local SAT office.
3 Effective Ways to Get a Credit Card in Mexico
1. Open a Local Bank Account and Build Usage This is the most organic way to qualify for a credit card. Start by opening a checking or savings account with a trusted Mexican bank like BBVA, Citibanamex, Banorte, or Santander. Make regular deposits, pay bills, and use the account actively.
Within 3 to 6 months, most banks will allow you to apply for a basic credit card. Some may even offer you one preemptively if you maintain a consistent balance and transaction history.
2. Use Your Existing American Express Relationship If you already have an American Express card from your home country, you can often leverage that history to apply for a Mexican-issued Amex once you become a resident. This method is especially helpful for newcomers who want to get started with credit immediately.
Tip: We recommend using our Amex referral to apply and BONUS *$6,000 MXN in the first 3 months of usage. Amex is known for its global services and is more expat-friendly than many traditional banks.
3. Fintech Platforms: Wise & Revolut While not Mexican banks, Wise and Revolut offer streamlined digital accounts with multi-currency options. These fintech platforms are excellent for managing your international finances and may eventually help you access credit products in Mexico.
More importantly, consistently using these platforms to pay for local services, transfer funds, and receive income gives you solid transaction history. Some local banks are beginning to recognize this when reviewing credit card applications.
Set up your Wise or Revolut account using the links provided below:
Pro Tip: Revolut is available in Mexico, but its full banking services are not yet launched. Revolut plans to launch its neobanking services in Mexico in the first half of 2025. Currently, the company has a banking license in Mexico and is building the infrastructure for its launch, according to Revolut.
Watch the full YOUTUBE VIDEO ⤵️
How to Build Credit in Mexico (Step-by-Step) Once you've opened a bank account or obtained a starter card, the real journey begins:
Step 1: Get a Secured Credit Card
Some banks like Banco Azteca or Banorte offer secured cards, which require a refundable deposit. The bank uses this deposit as collateral and gives you a credit limit equal to the deposit. This is one of the safest and fastest ways to build a solid credit history.
Step 2: Consider Store Cards
Retail chains like Liverpool, Suburbia, and Coppel offer store credit cards with lower requirements. These cards report to credit bureaus and can help you build history while buying essentials or home goods.
Step 3: Always Pay on Time
Timely payments are the single most important factor in building credit. Set calendar reminders or automate payments through your bank.
Step 4: Keep Credit Utilization Low
Try not to spend more than 30% of your available credit. If your limit is $10,000 MXN, aim to use only $3,000 MXN and pay it off monthly.
Step 5: Monitor Your Credit Report
Check your score using tools provided by Buró de Crédito or Círculo de Crédito. This helps you track progress and spot errors early.
Best Banks for Expats to Apply for Credit Cards
Here are some of the top banks to consider for your first Mexican credit card:
BBVA: Large presence and good digital tools.
Citibanamex: Flexible options for foreigners.
Santander: Competitive rates, especially if you’re a client.
Banorte: Widely accessible and known for secured cards.
Some banks may require you to apply in person with your full set of documents. Approval can take 1–2 weeks on average.
Common Pitfalls to Avoid
Don’t apply to multiple banks at once—this can harm your score.
Don’t use more than 50% of your credit limit.
Don’t ignore annual fees or card terms.
Don’t be late with payments, even by one day.
Final Thoughts: Building Financial Roots in Mexico Creating a credit history as an expat in Mexico isn’t just about plastic cards. It’s about proving your reliability and responsibility in a new financial system. Whether you go through traditional banks, leverage your existing Amex, or use modern fintech tools like Wise and Revolut, the key is consistency and transparency.
If you need help with relocating, setting up your documents, or financial orientation, our team at Expats Living Abroad offers professional relocation support tailored to your needs.
→ Visit www.expatslivingabroad.com/contact
Have any questions about getting started with credit in Mexico? Drop them in the comments below! And don’t forget to subscribe to our YouTube channel for weekly episodes in our 'Get to Be an Expert as an Expat' series.
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