Source: ACODECO and bank websites

Credit cards in Panama: cashback, annual fee and real rate

Which card gives most back for your spending and what it really costs to hold. Calculator with your profile, data from ACODECO and each bank.

Verified Apr 13, 2026· source: Autoridad de Protección al Consumidor y Defensa de la Competencia

Cards compared

from 7 banks

Top supermarket cashback

Multibank Mastercard Black

System average rate

22.07%

nominal annual, SBP December 2025

Net cashback calculator

Net per year is the sum of cashback by category on your spend minus the annual fee. If you pay interest, the rate matters more than any reward.

Your monthly spend

Move the sliders and the table recalculates net cashback (rewards minus annual fee).

Supermarket$400

Fuel$150

Restaurants$200

Travel$100

General$300

Streaming$50

Credit cards in Panama sorted by net annual cashback
Card	Net per year	Annual fee	Nominal rate	Reward	Min. income
Mastercard Black Multibank, Mastercard Black Best net	+$552	$90 free from $800/month	15.50%	Supermarket 6%Fuel 4%General 3%	$5,000/mo
Visa Infinite BG Banco General, Visa Infinite	+$366	$90 free from $800/month	15.90%	Supermarket 3%Fuel 3%General 3%	$4,000/mo
Mastercard Cash+ Multibank, Mastercard Gold	+$351	$30 free from $250/month	22.50%	Supermarket 4%Fuel 3%General 1.5%	$1,000/mo
Visa Platinum Credicorp Credicorp Bank, Visa Platinum	+$283	$50 free from $450/month	18.50%	Supermarket 2.5%Fuel 2.5%General 2%	$1,800/mo
Mastercard Platinum Banistmo, Mastercard Platinum	+$264	$60 free from $500/month	18.00%	Supermarket 2.5%Fuel 2%General 2%	$2,000/mo
Visa Platinum BG Banco General, Visa Platinum	+$240	$60 free from $500/month	19.90%	Supermarket 2%Fuel 2%General 2%	$2,000/mo
Mastercard Gold Banistmo, Mastercard Gold	+$211	$35 free from $300/month	22.00%	Supermarket 2%Fuel 1.5%General 1.5%	$1,000/mo
Visa Gold BG Banco General, Visa Gold	+$192	$30 free from $300/month	22.90%	Supermarket 1.5%Fuel 1.5%General 1.5%	$1,000/mo
Visa Clásica GB Global Bank, Visa Clasica	+$168	Free	26.50%	Supermarket 1.5%Fuel 1%General 1%	$500/mo
Visa Clásica BG Banco General, Visa Clasica	+$144	Free	26.90%	Supermarket 1%Fuel 1%General 1%	$600/mo
Mastercard Clásica BAC BAC Credomatic, Mastercard Clasica	+$144	Free	27.00%	Supermarket 1%Fuel 1%General 1%	$500/mo
Mastercard Clásica Banistmo, Mastercard Clasica	+$144	Free	27.00%	Supermarket 1%Fuel 1%General 1%	$500/mo
Mastercard Clásica CA Caja de Ahorros, Mastercard Clasica	+$144	Free	24.00%	Supermarket 1%Fuel 1%General 1%	$500/mo
Visa Platinum BAC BAC Credomatic, Visa Platinum	$-55	$55 free from $500/month	20.90%	1.5 miles per $, ConnectMiles	$2,000/mo
Visa Platinum GB Global Bank, Visa Platinum	$-55	$55 free from $500/month	19.50%	1.5 miles per $, LifeMiles	$2,000/mo
Visa Signature BAC BAC Credomatic, Visa Signature	$-75	$75 free from $700/month	16.90%	2 miles per $, ConnectMiles	$3,500/mo

Mastercard Black
Multibank, Mastercard Black
Best net
Net per year
+$552
Annual fee
$90
free from $800/month
Nominal rate
15.50%
Reward
Supermarket 6%Fuel 4%General 3%
Min. income
$5,000/mo
Visa Infinite BG
Banco General, Visa Infinite
Net per year
+$366
Annual fee
$90
free from $800/month
Nominal rate
15.90%
Reward
Supermarket 3%Fuel 3%General 3%
Min. income
$4,000/mo
Mastercard Cash+
Multibank, Mastercard Gold
Net per year
+$351
Annual fee
$30
free from $250/month
Nominal rate
22.50%
Reward
Supermarket 4%Fuel 3%General 1.5%
Min. income
$1,000/mo
Visa Platinum Credicorp
Credicorp Bank, Visa Platinum
Net per year
+$283
Annual fee
$50
free from $450/month
Nominal rate
18.50%
Reward
Supermarket 2.5%Fuel 2.5%General 2%
Min. income
$1,800/mo
Mastercard Platinum
Banistmo, Mastercard Platinum
Net per year
+$264
Annual fee
$60
free from $500/month
Nominal rate
18.00%
Reward
Supermarket 2.5%Fuel 2%General 2%
Min. income
$2,000/mo
Visa Platinum BG
Banco General, Visa Platinum
Net per year
+$240
Annual fee
$60
free from $500/month
Nominal rate
19.90%
Reward
Supermarket 2%Fuel 2%General 2%
Min. income
$2,000/mo
Mastercard Gold
Banistmo, Mastercard Gold
Net per year
+$211
Annual fee
$35
free from $300/month
Nominal rate
22.00%
Reward
Supermarket 2%Fuel 1.5%General 1.5%
Min. income
$1,000/mo
Visa Gold BG
Banco General, Visa Gold
Net per year
+$192
Annual fee
$30
free from $300/month
Nominal rate
22.90%
Reward
Supermarket 1.5%Fuel 1.5%General 1.5%
Min. income
$1,000/mo
Visa Clásica GB
Global Bank, Visa Clasica
Net per year
+$168
Annual fee
Free
Nominal rate
26.50%
Reward
Supermarket 1.5%Fuel 1%General 1%
Min. income
$500/mo
Visa Clásica BG
Banco General, Visa Clasica
Net per year
+$144
Annual fee
Free
Nominal rate
26.90%
Reward
Supermarket 1%Fuel 1%General 1%
Min. income
$600/mo
Mastercard Clásica BAC
BAC Credomatic, Mastercard Clasica
Net per year
+$144
Annual fee
Free
Nominal rate
27.00%
Reward
Supermarket 1%Fuel 1%General 1%
Min. income
$500/mo
Mastercard Clásica
Banistmo, Mastercard Clasica
Net per year
+$144
Annual fee
Free
Nominal rate
27.00%
Reward
Supermarket 1%Fuel 1%General 1%
Min. income
$500/mo
Mastercard Clásica CA
Caja de Ahorros, Mastercard Clasica
Net per year
+$144
Annual fee
Free
Nominal rate
24.00%
Reward
Supermarket 1%Fuel 1%General 1%
Min. income
$500/mo
Visa Platinum BAC
BAC Credomatic, Visa Platinum
Net per year
$-55
Annual fee
$55
free from $500/month
Nominal rate
20.90%
Reward
1.5 miles per $, ConnectMiles
Min. income
$2,000/mo
Visa Platinum GB
Global Bank, Visa Platinum
Net per year
$-55
Annual fee
$55
free from $500/month
Nominal rate
19.50%
Reward
1.5 miles per $, LifeMiles
Min. income
$2,000/mo
Visa Signature BAC
BAC Credomatic, Visa Signature
Net per year
$-75
Annual fee
$75
free from $700/month
Nominal rate
16.90%
Reward
2 miles per $, ConnectMiles
Min. income
$3,500/mo

16 of 16 cards

Verified Apr 13, 2026· source: ACODECO and bank websites

Miles cards show $0 cashback: the value of a mile depends on how you redeem it (Copa ConnectMiles, Avianca LifeMiles). Rates are nominal annual per ACODECO, February 2026.

Cashback or miles?

Cashback is money on your statement. Miles are worth more per dollar only if you fly often (Copa ConnectMiles, Avianca LifeMiles) and redeem off-season. If you do not fly, cashback wins.

The rate matters more than the cashback

A $2,000 balance financed at the system average rate (22.07%) costs about $440 in interest a year, more than the cashback of any card at that spend. Pay in full every month or choose by rate, not by reward.

Frequently asked questions about credit cards

What is the nominal annual rate and how do I compare it?

It is the yearly interest the bank charges on the financed balance, before compounding and fees. ACODECO publishes the rates of every card; the system average per the SBP is 22.07%. If you do not pay in full each month, that rate decides more than the cashback.

How is the annual fee waived?

Most banks waive it when monthly spend exceeds a threshold (for example $500 a month on a Platinum). The table shows it next to the fee. If your spend is below, a classic card with no fee usually comes out ahead.

What minimum income do they ask for?

From $500 a month for classic cards to $4,000 or $5,000 for Infinite and Black. It is the provable income the bank requires, not a recommendation.

Cashback or miles?

Cashback if you do not fly or want simplicity. Miles if you fly several times a year with Copa or Avianca and redeem early; a mile is usually worth 1 to 2 cents depending on the redemption.

Where does the data come from?

From ACODECO's Credit Card Comparative Study (February 2026), SBP averages (December 2025) and each bank's page, verified in April 2026. The date sits on every table.

Before the card, the account

An emergency fund in an account at 4% avoids financing surprises at 22%. Compare savings accounts with the same calculator.

Compare savings accounts See brokers