Banco Nu Colombia joins the reduction of its cards to 25% - Business

The interest rate reduction will take effect at the end of March.

The company had details of its decision and from when it will begin to apply the change.

nu colombia, one of the largest digital financial services platforms in the world, announced that it will reduce the interest rate of its credit card, “La Moradita” to 25 percent for clients with a quota approved by Nu of up to 3 million pesos.

The company points out that this measure will positively impact 50 percent of the company’s customers and will be applied to all types of national and international purchases of any category.

In a statement, they stated that This initiative is added to other benefits that the platform offers its clients since the beginning of its operation in Colombia. For example, zero handling fee, zero issuance or replacement charges, zero interest paying for purchases in one installment.

“We believe that Colombians deserve more and better offers of fair, simple and transparent financial services, especially in the face of the challenges of the current macro scenario. That’s why, we announce this new action with a significantly lower interest rate, which added to a value proposition of zero fees and a 100 percent digital experiencemakes Nu one of the best cards on the market”, said David Vélez, CEO of Nu.

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The reduction of the interest rate It will come into effect on March 27.according to the characteristics of the company.

This is not the only company that made this type of decision, for example the Falabella Bank announced a couple of days ago the reduction of its interest rate of 45.99 percent to 25 percent from March 15 in purchases in supermarkets, drugstores, health services and education.