A credit card is a payment method that allows you to buy things without their cost being charged directly to your current account.
Credit cards have a credit limit on your total spending. This is approved in advance by the financial institution that issues the card.
Credit cards also make it easy and convenient to spread out payment for your purchases.
As this represents credit, the card issuer may charge fixed or variable interest if you choose to spread the payments for your purchases.
Each entity applies its own criteria, but in our case we will carry out the relevant risk analysis and assign a specific credit limit based, above all, on your ability to meet the expected payments. The regulatory framework for “responsible lending” means that we have to assess your personal and financial situation as well as your preferences and objectives when we grant a card and assign the credit limit. It is therefore essential that the personal information you provide is complete and accurate.
If we approve your application, we'll issue the card and send it to your home address completely deactivated for security reasons.
Some factors, such as credit risk, are considered when you apply for a credit card and you must also meet the following conditions:
Credit card requirements
- Aged 18 or over.
- Have a bank account for collection of payments.
Advantages of credit cards
- One of the main advantages of credit cards is that they are very useful for dealing with unforeseen expenses.
- They allow you to spread your payments, unlike debit cards.
- Credit cards usually come with extra services, such as life insurance, travel assistance insurance, theft insurance and points programmes, making them very useful.
- You can request an increase in your initial credit limit, if your risk characteristics allow this.
- Many credit cards are associated with companies and businesses such as travel agencies, supermarkets, shopping centres, clothing stores and appliance stores, allowing you to pay and receive additional benefits, such as points and discounts.