Credit card continues to pique interest in several individuals
First and foremost, it’s important to remember that like any other tool, a credit card requires a minimum amount of knowledge and good judgment.
In this way, when used correctly, the credit card not only facilitates budgeting but also helps organize and control finances.
Credit card with payroll deduction
The payroll deduction card is very similar to a traditional credit card. However, unlike conventional options, payroll deduction has a specific target audience: retirees, INSS pensioners, and public servants.
The main advantages of the credit card with payroll deduction are: reduced interest rate (2.7% per month) and the minimum invoice amount deducted involuntarily from the salary or in favor of retirees, pensioners, and public servants.
Credit card: why apply online
Currently, there are various options for those looking for a credit card, especially with the emergence of fintechs (digital banks) that have brought convenience to the sector.
Companies like Nubank, Neon, Inter, for example, offer customers the opportunity to join a digital account and obtain a credit card.
The procedures are generally simple and fast. However, it’s important to consider that institutions always conduct risk assessments before issuing the card and setting its limit.
Credit cards with no annual fee
One of the main points regarding credit cards is the annual fee.
The annual fee, as the name suggests, is a fee paid by the customer every 12 months. However, most of the time, the amount is divided monthly.
Why opt to pay the card’s annual fee?
The annual fee values for the card can vary or even be waived, depending on the financial institution and the type of card contracted. Therefore, it’s worth researching before applying for a new credit card.
The card’s annual fee is a maintenance fee that covers the costs of the service.
Financial educators recommend that credit card holders contact financial institutions to negotiate the annual fee values.
Competition in the sector has provided customers with a wide variety of cards, many of them without an annual fee. Therefore, it’s important to research and understand the characteristics of each card.
Why can’t I get a card?
As mentioned earlier, the credit line follows risk assessment criteria.
It’s crucial to have a history of timely payments and not be listed in credit protection agencies, namely SPC and Serasa, for those seeking a credit card.
Why was my card declined?
Credit card declines usually occur when the available credit limit is exceeded. It’s important to regularly monitor available amounts and create a financial plan before making any purchases.
Why use the credit card
Expenses made with the card are paid later, only on the due date of the invoice. It’s possible to make a purchase and make the payment up to 40 days later, in some cases. This depends on the closing and due date of the invoice.
Normally, expenses made between five and ten days before the due date are charged in the following month’s invoice.
Consider the following situation:
If the due date is on the 20th and the invoice closing date is on the 10th, a purchase made on the 9th will be charged on the 20th of the same month, while a purchase made two days later, on the 11th, will only be charged on the 20th of the next month.
If you have doubts about the invoice closing date, it’s recommended to contact the Customer Service of your card.
Credit card for people with name restrictions
Although most credit cards require a rigorous applicant evaluation, it’s possible to find cards that waive consultation with SPC and Serasa.
Some institutions offer credit to people with funds in their checking account, conditioning credit to the available amount.
It’s always necessary to thoroughly research the conditions before agreeing to the subscription of any financial service.
Rules of the revolving credit of the card
When you pay only a portion of the invoice (an amount below the total but equal to or greater than the minimum payment required), the outstanding balance is transferred to the next month.
This way, it becomes a short-term personal loan, the revolving credit.
With the new credit card rules (starting from April 2017), revolving credit can only be used once.
When the customer can’t pay the total amount of the subsequent invoice, the company can offer another line of credit.
This happens because the National Monetary Council (CMN) requires banks to transfer this debt to installment credit, which has lower interest rates.
The average revolving credit rate is published monthly by the Central Bank.
It’s important to note that people often seek excuses to avoid responsibility when they make mistakes, and this happens quite often with credit cards.
The credit card will never make a purchase by itself unless there is some kind of fraud. In that case, it’s important to remain vigilant about the invoice and purchases. Otherwise, it’s the cardholder who decides to enter the PIN and make the purchase.
Therefore, remember to plan your purchases and value paying in full whenever possible, negotiating a good discount whenever you can.