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Banks eased requirements for cards and personal loans: what to check before signing in Cancún

According to Bank of Mexico's survey, major banks relaxed conditions for credit cards, personal loans and mortgages in the second quarter, and financing demand picked up.

By Miguel Díaz Miró · Responsible editor ·
Person uses a credit card at a payment terminal

Getting a credit card, a personal loan or a mortgage got a little easier. According to Bank of Mexico's (Banxico) quarterly survey on bank-credit market conditions, in April-June 2026 the banks with the largest market share eased their lending standards in those three segments, helping demand rise. The results were released on August 7.

The survey also reports that financing demand rebounded notably among large companies, personal loans and mortgages, and that banks saw a broad decline in their funding costs. For the third quarter, institutions expect demand to keep growing in credit to large firms, cards and mortgages.

What it means for your wallet. Banks loosening requirements doesn't change the underlying cost of money: Banxico's reference rate is still 6.50%, among the highest in real terms in years. In practice, more available credit makes it easier to borrow, but not cheaper. In a city like Cancún, where many incomes are seasonal and tourism-dependent, taking on more debt right before the low season can strain your payments.

A practical guide before you sign:

  • Compare the CAT (Total Annual Cost), not just the interest rate: it includes fees and insurance and is the number that truly shows how expensive a loan is.
  • Review annual fees, cash-advance charges and late-payment penalties.
  • Ask for the average CAT and use the official comparison tools from the National Commission for the Protection of Financial Services Users (Condusef) to weigh offers.
  • Healthy rule of thumb: keep total monthly debt payments below about 30% of your income.
  • If a bank denies you credit or overcharges, you have the right to file a complaint with Condusef.

More access to credit is an opportunity —but only if it fits your budget without choking it.

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