Zona Ciega
All articles
Every article we have published, newest first. Each one takes one money decision and shows the part that isn't in big print, with every number linked to its source.
- Same 42% rate, twice the cost: what the interest rate doesn't tell youTwo loans of 10,000 pesos, both at 42% a year. Banxico works out that one really costs 77.1% a year and the other 147.8%. The difference is how the interest is charged, and the rate alone won't show it.
- What happens when you only pay the minimum on a Mexican credit card?The minimum is set by a Banxico formula, and on 88.8% of cards that carry a balance it is 15% of what you owe or less. A quarter of those cardholders pay exactly that amount.