Check out the main information about the current payroll credit card. Learn all the details about how it works and see briefly how to apply for yours.
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At first glance, a payroll credit card looks like a regular credit card. Therefore, you can use it to make installment purchases, cash withdrawals and online payments as usual.
The minimum invoice amount is deducted directly from the customer's payslip or bank account. However, the debt cannot be greater than 5% of the remuneration.
In other words, if you receive a retirement pension of R$$5,000.00, you cannot deduct more than R$$250.00 from the benefit. Certainly, You might be wondering, but how do I pay the remaining invoice balance?
Well, as we mentioned, this modality is very similar to a normal credit. However, only the minimum amount of the invoice is discounted from your salary.
Therefore, you can pay off the outstanding balance as you wish.
Another point to highlight is the interest rate. Because there is less risk of default, they are cheaper. But they are still charged!
Furthermore, the product is offered by financial institutions to public servants, INSS retirees and pensioners and, in some cases, workers with a formal employment contract.
We have selected excellent payroll credit card options for you to choose from and make the most of this advantage! Check it out!
What is a payroll credit card?
At first, a payroll credit card is very similar to the regular card we are used to, however there are some particularities.
After all, this type of card is only intended for the group of INSS pensioners/retirees, public servants, members of the Armed Forces and, in some cases, employees of private companies with a formal employment contract.
Furthermore, the minimum amount discounted directly from the payroll cannot exceed 5% of the remuneration. In this way, the credit limit released is linked to the individual salary of each consumer, always respecting the rules provided for by law.
Another difference is the functionality of making cash withdrawals using the released limit and more affordable interest rates, as we will see throughout this article.
The best options for payroll credit cards
1 – BMG Card International Credit Card
The first product indication is the BMG Card International. This option is exclusively intended for INSS retirees and pensioners and public servants.
The BMG payroll credit card has no annual fee and also does not check the SPC and Serasa. In other words, this means that You can have your approval even if you are negative.
Along with these benefits, the customer still has the opportunity to be able to withdraw cash up to 70% of the card credit limit. However, there are fees, which currently correspond to 2.7% per month.
In advance, Banco BMG has been present in the financial market for over 90 years. B
how they are pioneers when it comes to payroll loans and today have one of the largest networks of banking correspondents in the entire country.
How do I apply for the BMG Card Internacional credit card?
First of all, you need to open a current account with the institution.
This procedure can be done at home, using only the mobile app. Then, fill in the personal data and information requested.
After that, wait until the analysis is complete. If the answer is positive, your card will arrive at your home by mail. There is no need to go to a physical branch.
2 – Agibank Mastercard
The option of a payroll credit card Agibank It is only available to INSS retirees and pensioners.
The financial product is from Mastercard and you can use it to make national purchases in physical and online stores.
Interest rates are among the lowest on the market and there are no annual fees or TAC (Registration Opening Fees).
At the same time the client can also withdraw cash up to 90% of the limit of the card. The procedure can be carried out at any Banco 24 horas ATM.
How to apply for the Agibank credit card?
Well, first of all, to make the request the client must first open a APP digital checking account. Then, in the options menu, simply select the mode.
Another option is to go to a physical store closest to your home, as there are several banking correspondents of the institution distributed throughout Brazil.
3 – Banco Pan Credit Card
At first glance, this Banco Pan modality is available, even for those with bad credit, without bureaucracy. Furthermore, the card limit can reach up to 2 times the salary amount.
The interest rates for late payment cases are much lower when compared to a regular card. The hiring procedure is done online and the card arrives directly at your home.
This way, you can safely make everyday purchases, either in installments or in cash. What makes it different from another payment option? credit card for people with bad credit, like prepaid for example.
Also read Good prepaid credit card options
The minimum invoice amount is deducted directly from the payroll.
Like BMG, the Banco Pan loan option is available to INSS retirees and pensioners. It also extends to public servants.
How do I apply for this card?
The application for this type of credit can be made directly online. First of all, go to official website of Banco PAN and do an online simulation.
After that, just accept the proposal sent by the institution and provide the requested data for the procedure. Finally, the card arrives in the comfort of your home by mail.
4 – Cetelem
Banco Cetelem has endless options for banking products. Therefore, this would be no different when it comes to payroll loans. The payroll card Cetelem there is no annual fee.
However, the version is only available to the group of retirees and INSS pensioners. With approval, the customer can make cash withdrawals using the credit limit.
Furthermore, The banking institution offers discounts of up to 20% when you make purchases at any partner store in the network.
THE Cetelem card It is also accepted in thousands of establishments throughout Brazil.
The minimum payment of the invoice is debited directly from the payroll. The customer can pay the outstanding balance using a bank slip and, in addition to controlling the entire invoice, website or application.
How to apply for the Cetelem payroll credit card?
The card application is made in a very simple and straightforward manner. All you need to do is simulate the contract. The process is carried out by WhatsApp on number (11) 98928-0733.
5 – Olé Consigned – Santander Group
In advance, the Olé Consigned Card is part of the Santander Group. Currently, this type is available to public servants, both federal, state and municipal.
Retirees and pensioners of the INSS can also join. However, agreement in both cases must be met by the banking institution. This option has no issuance fee or annual fee.
The procedure is completely digital and the customer can withdraw cash whenever they need. Use your balance however you want without needing to justify it.
Another important detail is that Olé Consignado is international. Use your card with peace of mind in Brazil and abroad.
There are more than 20 million of establishments in the surrounding area. In addition, You get special discounts on purchases made through the Santander partner network.
How do I apply for the Santander Olé Credit Card?
The order can be made completely digitally, by website of the institution or via the mobile app. After accessing, simply run a simulation, providing the necessary data.
Right away, the bank carries out an analysis to verify the veracity of the information. The card arrives at your home directly by post without any fees.
6 – Simple Box
As the name suggests, applying for a Caixa payroll credit card is very simple!
However, you must fit into the following group of people: INSS beneficiaries or Federal Public Servant. In both cases the client cannot be over 75 years of age.
That Box option is National and International. In other words, you can make your purchases anywhere in the world! As well as, carry out cash withdrawals from 20% to 70% of the card limit.
To use this financial product you do not need to pay annual fees. However, there is a small fee for issuing the card. This amount can be divided into up to 3 installments, if desired.
In fact, the bank does not consult the SPC and Serasa. Therefore, even if your name is on the blacklist, it is still possible to have access to the credit card approved.
With the aim of providing even more convenience and exclusivity to its customers, when you sign up for the card you also have access to certain services:
- Wifi Link;
- Basic Residential;
- Emergency Vehicle II;
- Installation and fixing;
- Elo Mania Club.
How do I apply for a Caixa Simples credit card?
Cool, right? Then place your order right now! If you are already a Caixa Econômica Federal customer, The request can be made using WhatsApp directly on number 0800 726 0104.
However, if you do not yet have an account with the institution, you can only apply for the card at a bank branch. Look for the one closest to your home!
7 – Help Credit Card
In advance, the Help credit card in the consigned modality is exclusively intended for retirees, INSS pensioners and public servants in general.
The institution does not check SPC and Serasa. Another benefit of Help is its ease of use. There are no annual fees for the cardholder and the card is international.
You can make your purchases in installments as well as use the limit to make cash withdrawals.
The minimum invoice amount is already deducted directly from the payroll. To pay off the outstanding balance, the customer can pay using the mobile application.
It is worth mentioning that the Help, in case you haven't heard of it yet, is a company of Banco BMG and has over 90 years of experience in the market.
There is certainly a financial solution for every need. After all, There are more than 800 Help stores spread throughout Brazil.
How to order?
The card request can be made by phone or at a nearby partner store. official website of the institution You can find the authorized establishment closest to your region.
8 – Bradesco Bank Credit Card
The eighth suggestion and one of the best offers is the product of Banco Bradesco. If you are retired or a pensioner of the INSS, approval is practically certain!
Invoices are discounted directly from the benefit and interest rates are among the cheapest on the market.
Bradesco bank does not charge an annual fee, but It is necessary to have a minimum income of 1 minimum wage in force.
9 – Mercantile Bank
First of all, the Banco Mercantil payroll card is only available for INSS retirees and pensioners who receive at the Bank.
In other words, the customer must have an active account and receive the benefit from the financial institution.
Just like the other options mentioned above, this card also has no annual fee. Furthermore, The minimum balance of the invoice is discounted by the INSS directly from the salary on the 12th of each month.
Benefits
Once approved, you can immediately count on all the benefits of being a Mercantil loan client, such as:
- Free annual fee;
- Pre-approved credit;
- Possibility of paying bills with card;
- 40 interest-free days to pay the invoice;
- Participation in Visa offers and promotions.
How do I apply for a Banco Mercantil credit card?
Application procedures are carried out directly at the Banco Mercantil branch.
10 – Banrisul Mastercard Consigned to INSS
Finally, our tenth and final suggestion for good payroll credit card options is Banrisul Mastercard. Both account holders and non-account holders can make the request.
However, to be approved the client must meet two important requirements.
The first is to have age less than 75 years and the second is regarding hiring. This can only be done in the state where the consumer receives the benefit.
Here are just a few advantages:
- There is no annual fee;
- Reduced interest rates;
- The customer can make cash withdrawals of up to 70% from the card limit;
- Mastercard flag accepted in thousands of establishments;
- There is no consultation with SPC and Serasa;
- The deadline for payment of purchases made is up to 45 days.
A small disadvantage of the card is the issuance fee, currently this amount is R$15.00.
Furthermore, for just R$3.90 the customer can purchase the optional loss and theft protection service.
How do I apply for the Banrisul Mastercard Consignado INSS?
To request this card, simply visit a Banrisul branch closest to your city.
What is the limit on the payroll credit card?
As stated before, the financial institution has the right to deduct only 5% from the customer's salary directly from the payroll. The credit card limit depends on each person's remuneration and the limit of the assignable margin multiplied by 25 to 27 is used as a basis.
Let's say, for example, that today Carlos, a civil servant at the São Paulo city hall, has a salary of R$$2,000.00 and requested a credit card with Banco Z.
In the case mentioned above, Bank Z cannot deduct more than R$$100.00 from Carlos' benefit. Normally, the amount debited corresponds to the minimum invoice, calculated directly by the financial institution.
Taking Carlos as an example again, to get an idea of the limit released, we will multiply the consignable margin of R$100.00 by 27. Thus, the credit limit in this hypothesis will be approximately R$2,700.00.
What is an infinite debt credit card?
Infinite credit card debt is an abusive practice adopted by some financial institutions, in which the consumer receives the card instead of the actual loan.
Most of the victims are public servants and INSS beneficiaries whose credit limit for loans has been exhausted.
Thus, the bank uses the 5% of the exclusive credit card limit as a “form of loan”, without explaining that it is in fact a withdrawal of the credit card limit with higher interest rates.
As the customer thinks that the installment is being discounted normally from their salary and is not aware of the remainder of the outstanding invoice, the result becomes an infinite debt.
In most cases, the cancellation of this criminal act depends on legal action in which it is possible to obtain the refund of the amounts with compensation.
How to apply for a payroll credit card?
The first step to applying for a payroll credit card is to check whether you meet one of the main requirements:
- INSS retiree or pensioner;
- Public Servant;
- Military personnel of the Armed Forces;
- Workers with signed employment contracts.
The next step is to gather the necessary documents, such as ID, CPF, proof of address and proof of income. Then, select the financial institution that best suits your needs and submit your simulation.
Another way is to go in person to a physical branch, such as CAIXA, AGIBANK, BMG, ITAÚ, BRADESCO, MERCANTIL and BANCO DO BRASIL.
For easier approval, our team recommends that you first look for a payroll credit card directly at the institution where you receive your benefit.
Advantages
The payroll credit card accepts those with bad credit
One of the main advantages of the payroll deduction card option is the possibility of accepting people with bad credit. After all, banks do not check the SPC or Serasa.
Cash withdrawals
Another advantage of the card for INSS beneficiaries and public servants is the flexibility to withdraw up to 70% of the available limit. This feature is widely used by customers who have exceeded their credit limit and need a loan.
But be careful with scams and see if it's worth it, since the interest rates are higher than those for payroll loans. Therefore, before signing any contracts, always analyze the final amount.
Exemption from Credit Opening Fee
There is no TAC (Credit Opening Fee) charged on a payroll credit card. Therefore, the consumer only pays the amount of the installments and other charges present at the time of contracting on the invoice.
Cheaper revolving interest rates
While the revolving interest rates for conventional cards are around 12%, the payroll credit card has a maximum rate of 2,70% per month for INSS retirees and pensioners.
After all, the loan has a guarantee of payment of the debt, since the minimum discount of the invoice is automatically made in the consumer's salary or benefit.
Disadvantages
Increased risk of debt
Easy credit and a high limit may sound good to us at first. However, consumers need to be even more careful not to increase the risk of debt and end up unbalancing their personal finances.
Furthermore, it is important to be careful when paying the bill, since only the minimum amount will be deducted from your salary. The rest of the debt must be paid by the due date of the bill to avoid being charged. revolving interest on credit card.
The card is only available to a specific group of people
The second disadvantage of the payroll credit card is in relation to availability. Only civil servants, INSS beneficiaries, members of the Armed Forces and, in some cases, CLT employees with a signed employment contract have the right to hire one.
Final Considerations…
In short, this is the main information you need to know before placing your order. In fact, the products mentioned in this article are an excellent option, as the customer does not pay high interest rates.
However, once your card arrives avoid paying only the minimum invoice amount. After all, this attitude results in interest charges, even if cheaper.
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