The Personal Payday card is an advantageous option for those who need fast cash on hand or want to shop at stores and establishments.
In addition to having one of the best payment terms, interest rates are reduced compared to a conventional credit card.
Learn how payroll cards work and know their differences compared to conventional cards.
Credit card Personal Payday
The Personal Payday-deductible credit card is the non-annuity credit card , exclusive to retirees and pensioners of the INSS, in which the minimum of the invoice is automatically deducted from the benefit each month.
How it works?
With the consigned credit card, it is possible to make purchases in stores and establishments in Brazil and abroad. In addition, you can withdraw up to 95% of your limit at 24-hour ATMs or at your bank.
The main difference between a traditional card and payroll is the fact that the second one is directed to public servants, retirees and pensioners of the INSS, since they are a public that has a fixed monthly income .
The minimum payment for the payroll deductible credit card bill is automatically deducted from the policyholder’s salary or benefit. That is, according to the assignable margin , the paying agency can deduct a maximum of 5% of the applicant’s monthly income for the payment of the portions of the card.
This avoids over-indebtedness of the applicant and ensures that there is sufficient sum for the basic expenses.
Maria used the limit of her card to install a new television for her home. Therefore, considering that Maria’s monthly income is R $ 998.00 , the maximum amount that can be charged for the minimum payment of her invoice is R $ 49.90 . That is, regardless of the total value of the product, only that amount can be deducted from your income.
Differences between traditional and payroll card
Check the comparative table below for the main differences between the traditional credit card and the payroll. This makes it easier for you to make the best choice.
|Benefit||Consigned card||Common Credit Card|
Advantages of Payroll Credit Card
With an international card in hand, you can shop in stores and establishments around the world. In addition, you can make withdrawals of your limit abroad, and, best, without paying any additional fees for it.
Unlike a traditional card, when applying for payroll deductible credit cards, banks do not apply annuity fees . So you save money and do not have to worry about charges for monthly maintenance of your card.
According to data from the Central Bank , interest from a conventional credit card can reach up to 20% per month. That is, payroll taxes are up to 6 times smaller , around 3.0% per month.