Plata review
Updated September 28, 2026 · DebitCue Editorial Team · Facts checked September 26, 2026
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Our verdict
Plata is a Mexican credit card for people who pay in full: annual fee of MXN 0 and cashback on chosen categories each month. It suits everyday spending with instalments, Apple Pay and a Mastercard, while anyone carrying a balance faces interest of 164.2%.
Key facts
- Best for
- Everyday Mexican spending with cashback and no annual charge.
- Annual fee
- MX$0 (Source, checked September 26, 2026)
- APR
- 164.2% (Source, checked September 26, 2026)
- Rewards type
- Cashback (Source, checked September 26, 2026)
- Rewards rate
- up to 15% cashback, up to 4 chosen categories per month (Source, checked September 26, 2026)
- 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 (Source, checked September 26, 2026)
- Card kind
- Credit (Source, checked September 26, 2026)
- Legal entity
- Banco Plata, S.A., Institucion de Banca Multiple (Source, checked September 26, 2026)
- Headquarters
- Mexico (Source, checked September 26, 2026)
- Support channels
- Phone, Email, Help-centre (Source, checked September 26, 2026)
- Pricing model
- No annual fee
- Features
- Rewards
- Official website
- platacard.mx
Apps and profiles
- Get the app
- App StoreGoogle Play
- Elsewhere
- WikidataXLinkedInirplata.com
Pros and cons
Pros
- Annual fee of MXN 0 a year, and the card runs on a no annual fee model.
- Issued by Banco Plata, S.A., Institucion de Banca Multiple and regulated by CNBV in Mexico.
- The benefits list credit limit up to 200,000 MXN, 2 months no interest and next day card delivery adds a stated credit limit, an interest free period, next day card delivery, Apple Pay and Mastercard.
Cons
- Interest of 164.2% makes a carried balance expensive.
- Support runs on phone, email and help centre only, with no live chat listed.
Who it suits
- People in Mexico who pay their statement in full and want cashback on everyday spending.
- Shoppers splitting larger purchases into instalments rather than paying interest.
- Card users who want a Mastercard and Apple Pay for daily payments in Mexico.
Who should look elsewhere
- Varo Believe Secured Credit Card, for people who want a limit tied to their own deposit rather than a rewards credit card.
- Wise, whose annual fee is £0 as well, if you want a money account rather than a cashback credit card.
- Chime Card (Secured Visa Credit Card), if a limit secured against a deposit suits you better than rewards on spend.
Where it sits among rivals
On annual fee Plata ranks 1 of 301 brands, so the yearly cost sits at the cheap end of this ranking. On APR the picture flips: 132 of 133, which puts Plata among the costliest cards here to borrow on. Two rankings, two very different stories.
How Plata compares
8.9 vs 9.0
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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
What does the Plata credit card cost to hold?+
Plata charges an annual fee of MXN 0 and runs on a no annual fee model, so holding the card adds nothing to a yearly budget. Borrowing is a separate matter: interest is charged at 164.2%, which is the number that matters if a statement goes unpaid.
Is the Plata card regulated?+
Yes. The card is issued by Banco Plata, S.A., Institucion de Banca Multiple, and the licence for Mexico names CNBV (Comision Nacional Bancaria y de Valores) as the regulator. The provider is based in Mexico, so the card is built around the Mexican market rather than a wider international one.
Can I pay in instalments on Plata?+
Yes, instalments are one of the listed benefits, credit limit up to 200,000 MXN, 2 months no interest and next day card delivery, and the same list covers a stated credit limit, an interest free period and next day card delivery. Balance not covered by an interest free period is charged at 164.2%, which is worth checking against the instalment terms you pick.
What support can I get from Plata?+
Support runs on phone, email and help centre, which covers phone, email and a help centre. Day to day payments work through Apple Pay and Mastercard, both in the benefits list credit limit up to 200,000 MXN, 2 months no interest and next day card delivery, and the account is offered by Banco Plata, S.A., Institucion de Banca Multiple in Mexico.
Is Plata a debit or a credit card?+
It is a credit card, credit, so you are borrowing rather than spending a balance you hold. The rewards side is cashback, cashback, and the card is aimed at Mexican consumers through a provider based in Mexico.
How does Plata compare with cards that charge an annual fee?+
It does not charge one: the annual fee is MXN 0. On the wider comparison Plata ranks 1 of 301 brands on annual fee, while interest of 164.2% leaves it at 132 of 133 on APR.
Sources
- elceo.com/negocios/plata-ya-es-banco-cnbv-autoriza-su-ope... checked September 26, 2026
Backs: Licences
- platacard.mx/en checked September 26, 2026
Backs: Annual fee, APR, Card kind, Features, Legal entity, Pricing model, Perks, Rewards rate, Rewards type, Support channels
“Banco Plata's credit card with no annual fee / If you apply before 28th of September.”
- platacard.mx/en/about checked September 26, 2026
Backs: Headquarters
“Made in Mexico”
Compiled from 3 source pages, checked September 26, 2026. We did not open an account.
Not confirmed yet: Currency conversion fee.