New DNI - What's next? How to build credit?

[Jakoval]

Thank you. @Jakoval can you explain the process for signing up for that Coto discount card program? I asked my girlfriend but she didn't have one. I'd love to ask her to sign up for that. If you can walk me through the process I would appreciate it.

It's pretty straightforward, go to https://www.comunidadcoto.com.ar/comunidad/acceso.jsf

Click, Registrate.


Fill out all info. Actually, in Tipo de Documento, it gives you a choice of Passport also. So, try that if you don't have a DNI. I didn't realize that you can probably use your passport to register too till now and I never tried it with my passport prior to having my DNI. But if it doesn't work, I guess you will need a DNI to register. So after you complete Paso 1-3, you will have their membership card called Coto Comunidad. When I go to Coto, I give the cashier my DNI for them to key in my Comunidad for discounts or you can just verbally tell him your DNI/Pas number. You don't need to hand them the actual Comunidad card.

 

[Digital Nomad]

It's pretty straightforward, go to https://www.comunidadcoto.com.ar/comunidad/acceso.jsf

Click, Registrate.
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Fill out all info. Actually, in Tipo de Documento, it gives you a choice of Passport also. So, try that if you don't have a DNI. I didn't realize that you can probably use your passport to register too till now and I never tried it with my passport prior to having my DNI. But if it doesn't work, I guess you will need a DNI to register. So after you complete Paso 1-3, you will have their membership card called Coto Comunidad. When I go to Coto, I give the cashier my DNI for them to key in my Comunidad for discounts or you can just verbally tell him your DNI/Pas number. You don't need to hand them the actual Comunidad card.

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Thank you!

 

[Oatmeal]

If she is unemployed and not declaring any income she probably won't want to use her bank account too much. No bank will likely give her a credit card if she has no declared income. There is no credit system for the most part in Argentina as others told you @Oatmeal. Forget about this concept.


Many banks will will likely close down an account for a foreigner that does not have any declared income. See the other thread about the bank notices from the bank. AFIP the tax authority here will start to see if your girlfriend has a lot of spending in her account where she is getting the money. Before they did not care but the new President wants to try to increase tax revenue.

See this-

New banking restrictions for expats living in Buenos Aires? Did anyone else get an email from their bank? (UIF Resolution 14/2023)

I just got an email from my bank saying I need to formally register with AFIP. It is citing UIF Resolution 14/2023 which seeks to prevent money laundering and financing of terrorism. It says they need to better understand my financial situation and origin of my income. It says if I don't...

www.expatsba.com

Thanks for the info. I notice that post about the banking restrictions. It was suggested my gf, regardless of employment status still pay into the system (pay some taxes), as her long term go is citizenship in 2 years. This might be something they will review at that time and it would be beneficial to do so.

 

[Oatmeal]

If she is unemployed and a foreigner it is doubtful that she would get a credit card especially considering she just got her DNI. Stores I am not aware have credit cards. Here in Argentina credit cards are with the bank. People use them to buy things with the payment plan but bank usually is the one that offers that and more and more they are seeing what income you make.

It is probably doubtful a bank would give credit to an unemployed foreigner with no DNI. Which country is your girlfriend from?

She is from Venezuela, and goal is to obtain citizenship for more flexibility to travel. She has a valid passport and was able to get an extension last time, but who knows what will be like in the future.

 

[Digital Nomad]

She is from Venezuela, and goal is to obtain citizenship for more flexibility to travel. She has a valid passport and was able to get an extension last time, but who knows what will be like in the future.

Argentina passport is definitely stronger than Venezuelan passport. There are a lot of Venezuelans in Argentina. A very big community.

 

[Flamingo]

Thanks for the info. I notice that post about the banking restrictions. It was suggested my gf, regardless of employment status still pay into the system (pay some taxes), as her long term go is citizenship in 2 years. This might be something they will review at that time and it would be beneficial to do so.

That would probably be a good idea for Citizenship in the future. The judge will want to see some ties to Argentina. That could be job, property ownership, marriage, etc. If she is unemployed she wouldn't pay any taxes here. But it might be wise to set her up so she is paying some taxes into the system. She can self declare monitrubuto and pay a little each month. Many follow that strategy. Good luck.

 

[fetch rover]

It's pretty straightforward, go to https://www.comunidadcoto.com.ar/comunidad/acceso.jsf

Click, Registrate.
View attachment 3953

Fill out all info. Actually, in Tipo de Documento, it gives you a choice of Passport also. So, try that if you don't have a DNI. I didn't realize that you can probably use your passport to register too till now and I never tried it with my passport prior to having my DNI. But if it doesn't work, I guess you will need a DNI to register. So after you complete Paso 1-3, you will have their membership card called Coto Comunidad. When I go to Coto, I give the cashier my DNI for them to key in my Comunidad for discounts or you can just verbally tell him your DNI/Pas number. You don't need to hand them the actual Comunidad card.

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Why would someone not sign up for this? Is this just akin to people using coupons or lack of it? This seems like a no brainer. Is Coto a major supermarket there? I didn't see any while I was in Buenos Aires.

 

[earlyretirement]

Why would someone not sign up for this? Is this just akin to people using coupons or lack of it? This seems like a no brainer. Is Coto a major supermarket there? I didn't see any while I was in Buenos Aires.

There are several Coto supermarkets across Buenos Aires. You can see the red pins on the map. These savings plans are a no brainer to sign up. My mother in law lived right next to one and she was retired and got great savings on each purchase. I think she had to show her DNI each time however.

 

[Jenn]

Yes, we do buy things with the credit cards. For example, Coto always has daily discounts on different bank cards, be it debit, cash or credit. See the charts below. Each day of the week the discount is offered on different banks and cards, etc. Also, different stores (if the prices are high) normally offer payment in installments either 3 or 6 cuotas. I haven't seen the 24 months of payment but I guess it has to be something very expensive for you to pay in such a long stretch. Mostly I've seen only either 3 or 6 cuotas e.g. a few days ago we bought two pairs of hiking shoes that cost a little over 300,000 pesos and the store offered 0% interest in 6 cuotas.

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Once you sign up @Jakoval do they give you some card to scan? Or how do you get the discount? Is it possible for me to ask my local friend there that has a DNI to sign up for me and can I use her account? Or do they ask you for your ID to verify it is your account? Any way I can save money will help. Prices look like they are going up there as some things just a few months ago I see higher now.

 

[Jakoval]

Once you sign up @Jakoval do they give you some card to scan? Or how do you get the discount? Is it possible for me to ask my local friend there that has a DNI to sign up for me and can I use her account? Or do they ask you for your ID to verify it is your account? Any way I can save money will help. Prices look like they are going up there as some things just a few months ago I see higher now.

I think the membership is tied to your DNI so unless you are able to sign up with your passport, which is also an option but I never tried, I don't think you can use anyone's DNI to sign up but your own. I don't know if they will send me the actual membership card but I can print out the card on paper which is unnecessary because I normally just hand them my DNI instead.

 

[Jenn]

I think the membership is tied to your DNI so unless you are able to sign up with your passport, which is also an option but I never tried, I don't think you can use anyone's DNI to sign up but your own. I don't know if they will send me the actual membership card but I can print out the card on paper which is unnecessary because I normally just hand them my DNI instead.

OK I will try it. So to activate the discount do you just tell them you have the discount card and they ask your DNI/Passport # and they give you the discount?

 

[Jakoval]

OK I will try it. So to activate the discount do you just tell them you have the discount card and they ask your DNI/Passport # and they give you the discount?

Sometimes the cashier will ask you if you have Comunidad but you can just tell them that you have the Comunidad and here's the number.

 

[Billy Goat]

Sometimes the cashier will ask you if you have Comunidad but you can just tell them that you have the Comunidad and here's the number.

Yes I just tell them I have the card and show it. Every bit adds up for savings. Things are getting so pricy now.

 

[James Bond]

Thanks for the suggestions on the bank. What it sounds like to me is store cards/credit cards are just not worth it? Unless it is 0% 12 month and we want to spread our payments?

@Oatmeal did you ever get any credit for your girlfriend? Is she declaring any income? Lately it seems like banks are giving out credit cards or if you have a credit card they are increasing the limits. My girlfriend's sister and brother all have had their credit card limits increased. Even her mum who has a credit card but barely uses it got her credit limit increased. It seems banks are eager to give out credit.

Her sister went from $1k USD limit to $8k USD limit. Her brother up to $10k USD limit. And banks reaching out to them to see if they are interested in a mortgage. First time they said that has ever happened to them their entire life. I thought that was very interesting.

 

[Vince]

@Oatmeal did you ever get any credit for your girlfriend? Is she declaring any income? Lately it seems like banks are giving out credit cards or if you have a credit card they are increasing the limits. My girlfriend's sister and brother all have had their credit card limits increased. Even her mum who has a credit card but barely uses it got her credit limit increased. It seems banks are eager to give out credit.

Her sister went from $1k USD limit to $8k USD limit. Her brother up to $10k USD limit. And banks reaching out to them to see if they are interested in a mortgage. First time they said that has ever happened to them their entire life. I thought that was very interesting.

@James Bond the same thing with my wife's family. All of them are getting offers for increased lines of credits and calls from the bank if they are interested in getting mortgages to buy property. They all own their own homes already but the banks are very eager to give out loans now that they need to put money to work. Mortgages are jumping up from nothing to a good % of the market now. That will probably go up as time goes on and things stabilize.

 

[LLL]

This is true. I have declared income here and have had a few credit cards. Previously very low limits and now equivalent of $10k dollar limits. I am not sure if this is for everyone but if you have income it seems like banks are eager to lend out.