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Plata review

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

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Our verdict

Plata is a Mexican credit card that suits users who pay the balance in full and want cashback without paying an annual fee, with an annual fee of MXN 0. Borrowing is the catch, since the APR of 164.2% makes it a poor card for carrying a balance.

Key facts

Best for
A Mexican card user who clears the balance each month and wants cashback with no annual charge.
Annual fee
MX$0↗
APR
164.2%↗
Rewards type
Cashback↗
Rewards rate
up to 15% cashback, up to 4 chosen categories per month↗
Perks
Credit limit up to 200,000 MXN, 2 months no interest, Next-day card delivery, Installments from 3 to 12 months, Apple Pay, Mastercard↗
Card kind
Credit↗
Legal entity
Banco Plata, S.A., Institucion de Banca Multiple↗
Headquarters
Mexico↗
Support channels
Phone, Email, Help-centre↗
Pricing model
No annual fee
Features
Rewards
Official website
platacard.mx

Facts checked September 26, 2026, 2 sources

Apps and profiles

Get the app
App StoreGoogle Play
Elsewhere
WikidataXLinkedInirplata.com

Pros and cons

Pros

  • The annual fee is MXN 0, which places Plata at position 1 among 312 brands ranked on annual fee
  • A Mastercard credit card with Apple Pay, next day card delivery and an interest free purchase window

Cons

  • The APR of 164.2% sits far above the 16% median for credit cards
  • Support runs on phone, email and help centre only, with no live chat listed
Plata

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Scored 8.9 / 10 by SumCue.

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Who it suits

  • Mexican residents who clear the balance each month and want cashback on everyday spending
  • Card users who want a credit line, Apple Pay and next day delivery from a Mexican bank

Who should look elsewhere

  • Anyone who plans to carry a balance, since the APR of 164.2% charges heavily on a balance left past the interest free window
  • Varo Believe Secured Credit Card users who want a secured card that builds credit rather than a revolving line at 164.2%
  • Wise users who need to hold and convert money in several currencies, since Plata serves a single market

Fees and FX

Plata charges an annual fee of MXN 0, which places it at position 1 among 312 brands ranked on annual fee. The APR is 164.2%, well above the 16% median for credit cards, so interest costs dominate once a balance is carried. Purchases can run interest free for a period or be spread over instalments.

The company behind it

Plata is issued by Banco Plata, S.A., Institucion de Banca Multiple, a bank headquartered in Mexico and regulated by CNBV. The card comes from the lending institution itself rather than a broker, so the credit limit and the account are arranged together. Support runs on phone, email and help centre, so help comes by phone, email or the help centre.

How Plata compares

Where Plata is available

Available
Mexico
Licence in Mexico
CNBV (Comision Nacional Bancaria y de Valores), checked September 26, 2026

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

Frequently asked questions

Does Plata charge an annual fee?+

The annual fee is MXN 0, and the card runs on a no annual fee model. That places Plata at position 1 among 312 brands ranked on annual fee. Nothing is charged for keeping the account open; the cost comes from any balance you carry.

What APR does Plata charge?+

The APR is 164.2%, well above the 16% median for credit cards, so the rate is expensive for long term borrowing. Purchases can run interest free for a promotional period, but a balance left beyond that window is charged at the full rate.

What credit limit does the Plata card offer?+

The card works as a revolving credit line, and the perks published include a credit limit, next day card delivery and an interest free purchase window, all set out in credit limit up to 200,000 MXN, 2 months no interest and next day card delivery. The limit is a ceiling you can draw on, repay and use again, with larger costs spread over time.

Is Plata regulated in Mexico?+

Yes. The card is issued by Banco Plata, S.A., Institucion de Banca Multiple, headquartered in Mexico and regulated by CNBV. The lender is a banking institution, so the credit line is arranged by the bank itself rather than sold on by a broker. Any deposit protection is a question for the bank, since this is a credit product.

How do I get help with the Plata card?+

Support runs on phone, email and help centre, so you can call, email or work through the help centre. A help centre is the most common support route across the market, at 79.6% of cards, and phone support sits close behind at 74.4%. Live chat is not among the listed channels.

Can I pay a large purchase off over time?+

Yes. The published perks, set out in credit limit up to 200,000 MXN, 2 months no interest and next day card delivery, include instalments alongside an interest free purchase window, so a large cost can be spread across monthly payments. The APR of 164.2% still applies to any balance left after the interest free period ends.

Sources

Compiled from 3 source pages, checked September 26, 2026. We did not open an account.

Not confirmed yet: Currency conversion fee.

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