Novacard

About Novacard

NOVACARD is a credit card created to make your life easier.

We do not charge interest, but rather a fixed and clear commission, only if you use the card.

To start using your NOVACARD, just request your card from the app in less than five minutes. You will be able to start using your virtual card immediately and receive the physical card at your home within two to three days.

With NOVACARD and its application, available 24 hours a day, you can manage your payments and transfers quickly and securely, review your account statement, check the current balance and verify each purchase made. Additionally, in case of theft or loss, you can block your card from the app immediately.

Live it simple!

Commission information
For the use of the line of credit, a fixed commission is charged calculated based on the days of use of the credit.

The user can choose between these commission and payment options:

Option 1
The commission is calculated for periods of 14 days. $19 MXN is charged for each day of use of the credit line within the period.
The cut-off date of each period is the 14th. From the cut-off date to the payment deadline, the user has 14 more days to make the minimum payment of $350 MXN or the total payment of the credit used.
If the minimum payment is not made before the deadline, an additional fee of $19 MXN will be generated for each day of delay, in addition to the regular fee for using the line of credit.

Option 2
The commission is calculated for periods of 14 days. The cut-off date of each period is the 14th. From the cut-off date to the payment deadline, the user has 14 more days to make their payment without generating any commission for the use of the line of credit.
If the user makes full payment of the credit used before the deadline, no commission is generated.
If you only make the minimum payment of $550 MXN before the deadline, $29 MXN is charged for each day of use of the credit line from the beginning of the period until the cut-off date (day 14).
If the minimum payment is not made before the deadline, a non-payment fee of $29 MXN daily is generated until the balance of the line of credit is covered. In addition to the regular commission for using the line of credit.

Average CAT (plus VAT): 155.76%
The Total Annual Cost (CAT) is the total annual cost of financing expressed as an annual percentage. This indicator includes all costs, expenses and commissions inherent to the credit for informative and comparative purposes.

Card replacement
Replenishment is free twice a year. In other cases, it costs $150 MXN (plus VAT).

At NOVACARD, your privacy and the protection of your personal data are our priority. We comply with national laws, such as the Federal Law on Protection of Personal Data Held by Private Parties (LFPDPPP) and the Federal Law to Prevent and Identify Operations with Resources of Illicit Origin (LFPIORPI), to protect the information you provide us.

We collect personal data solely for the purpose of complying with current regulations and processing your credit line requests. The data requested includes identification information (name, date of birth, gender, identification documents), contact data (address, email, telephone numbers), asset and financial information (income, expenses, credit reports), sensitive data (biometrics). , GPS location), and device details.

All information collected is handled under the principles of legality, consent, quality and purpose, and is used solely for the evaluation of your credit line capacity.

Privacy notice for customers:
You can consult our privacy notice at the following link: https://www.novacard.mx/aviso-de-privacidad/.