Building credit in Colombia after acquiring a Cedula de Extranjeria

How to start building credit in Colombia

The easiest path towards starting a credit history is getting a postpaid cell phone plan. It could also be an option to ask your bank for a low-credit credit card, or you can apply for one in department stores like Falabella or Exito.

But the best advice I can give you, although it will take some time, is to start saving. You can keep a fixed portion of your salary in your savings account or apply for a trust and deposit a fixed amount each month without withdrawing any of that money.

As soon as the bank notices your saving habit they will contact you to offer you a line of credit.


HEA Consulting Colombia is one-stop-shop for foreigners looking to do business in Colombia. We can help with everything from company formation through to tax structures and even legal or visa considerations. If you found this article interesting and would like more , or if you have any further questions, then please don’t hesitate to get in touch so we can help.