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iO by BCP Refiere y Gana review

Updated September 28, 2026 · SumCue Editorial Team · Facts checked September 26, 2026

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Our verdict

iO by BCP Refiere y Gana suits Peru-based spenders who want a card that costs nothing to hold. The catch is money: an APR of 33% to 111.9% and a 3% currency conversion charge make it poor for carrying a balance or spending abroad.

Key facts

Best for
Spending locally in Peru, paying the balance in full and earning cash back on every purchase.
Annual fee
PEN 0↗
APR
33% to 111.9%↗
Currency conversion fee
3%↗
Rewards type
Cashback↗
Rewards rate
1% cashback on all purchases, unlimited↗
Perks
Up to S/80 cashback on first purchases (25% cashback promo), Google Pay and Apple Pay compatible, Seguro de desgravamen 0.3% of average daily balance, capped at S/20 per month, Spending categorisation in the app, Levels programme with extra benefits by usage, No branch visits required, card obtained in the app↗
Cashback rate
1%↗
Card kind
Credit↗
Legal entity
Banco de Credito del Peru↗
Headquarters
Peru↗
Support channels
Email, Chat, Phone, Help-centre↗
Pricing model
No annual fee
Features
Rewards
Official website
io.pe

Facts checked September 26, 2026, 5 sources

Apps and profiles

Elsewhere
LinkedIn

Pros and cons

Pros

  • The card charges an annual fee of PEN 0, so it costs nothing to keep in a wallet all year
  • A levels programme adds extra benefits as usage grows, on top of the reward paid on every purchase
  • Support runs through email, chat and phone, so a phone line sits alongside email, chat and a written help centre
  • The card is obtained and managed in the app, with no branch visits needed at any point

Cons

  • Borrowing is expensive at an APR of 33% to 111.9%, so a carried balance costs a lot in interest each month
  • Currency conversion costs 3%, which adds up fast for anyone spending abroad or holding another currency
  • The only reward type listed is cashback, so no points or miles scheme comes with the card

Ready to try iO by BCP Refiere y Gana?

Scored 8.7 / 10 by SumCue.

See alternatives

Who it suits

  • Peru-based households who spend locally, pay their balance in full each month and want no annual charge
  • People who want a no-fee card that returns cash on everyday spending, not points or travel rewards
  • App-first customers who would rather apply for, set up and track the whole card in the app

Who should look elsewhere

  • Anyone planning to carry a balance, because the APR of 33% to 111.9% is the weak point here and revolving borrow costs add up fast
  • Travellers who spend heavily in other currencies, because of the 3% charge on each conversion made abroad
  • Points or miles hunters, as the card's only reward type is cashback rather than a scheme that feeds travel rewards

Who runs it

iO by BCP Refiere y Gana is issued by Banco de Credito del Peru, with PE as its home country, so it is a Peru-focused product rather than a card built for the UK or Europe. Help runs on email, chat and phone, which covers email, chat, phone and a help centre, so a question can be put in writing or spoken to someone on the phone.

How iO by BCP Refiere y Gana compares

Where iO by BCP Refiere y Gana is available

Available
Peru

Countries from the brand (Source, checked September 26, 2026)

Frequently asked questions

Does iO charge an annual fee?+

The annual fee is PEN 0, so the card can stay in a wallet for a full year at no cost. Rewards come without a cap, and a balance insurance cover is charged as a percentage of the average daily balance, capped each month.

What do I earn for spending?+

Rewards are cashback, not points or miles. The rate is 1% on all purchases with no cap, and a welcome offer pays extra back on first purchases. A levels programme then adds benefits as usage grows, with categorisation in the app to track it.

What does it cost to borrow on this card?+

The APR runs 33% to 111.9%, which is high for revolving credit. If the balance is cleared each month the cost does not bite, but anyone carrying a balance should compare the 33% to 111.9% range against cheaper borrowing options before applying.

What are the costs of spending abroad?+

Currency conversion is charged at 3%, which puts the card at 152 of 186 on that measure. Anyone spending heavily in other currencies pays more per transaction, so the card makes more sense for local spending.

Who is the card aimed at?+

It is a credit card issued by Banco de Credito del Peru in Peru, so it is built for applicants based in Peru rather than the UK or Europe. The card is obtained in the app with no branch visits required, and works with Google Pay and Apple Pay.

What extra costs come with the card?+

Beyond the PEN 0 annual fee, a balance insurance cover is charged as a percentage of the average daily balance and is capped each month, so the cost scales with what you carry. Rewards on spending are cashback at 1% on all purchases with no cap.

How do I get help if something goes wrong?+

Support runs through email, chat and phone, so a question can go by email, chat, phone or the help centre. A phone line sits alongside the written channels rather than replacing them, which helps if a card is blocked or a payment needs explaining.

Is a cashback card the right choice for me?+

Cashback suits people who spend regularly and pay in full, since the reward has no cap at 1%. It is a weaker fit if you want points for travel, or if you plan to carry a balance at 33% to 111.9% interest.

Sources

  • io.pe checked September 26, 2026

    Backs: Cashback rate, Perks, Rewards type

  • io.pe/nuestra-app checked September 26, 2026

    Backs: Rewards rate

  • io.pe/politicas-privacidad checked September 26, 2026

    Backs: Headquarters, Legal entity

  • io.pe/preguntas-frecuentes checked September 26, 2026

    Backs: Support channels

  • io.pe/tarjeta-de-credito checked September 26, 2026

    Backs: Annual fee, APR, Card kind, Features, Currency conversion fee, Pricing model

    “Costo de membresia anual S/ 0.00 - No cobramos membresia mensual, ni anual.”

Compiled from 5 source pages, checked September 26, 2026. We did not open an account.

iO by BCP Refiere y Gana

Spending locally in Peru, paying the balance in full and earning cash back on every purchase.

8.7/10See alternatives