Credit cards are already part of our lives as they are a quick and convenient way to shop and even honor our bills.
There are numerous advantages to owning a credit card. Not making larger withdrawals, time to make purchases and many facilities to pay the bills are among them. However, attention needs to be paid to times of economic crisis, to avoid overspending to keep the accounts under control. The payroll credit card is a great option for those looking for secure credit.
What is a payroll credit card?
It is a credit card where the minimum invoice payment is automatically deducted from the paycheck, or the benefit of the user.
And what does it mean? This means that the interest rate on this capital which is automatically deducted from the benefit is up to 5 times cheaper than a normal credit card.
How does this card work?
You have a credit card, but at the end of the month instead of paying the bill, this amount is automatically deducted from your benefit. The payroll credit card has all the features of a regular credit card, such as purchases, payments, withdrawals, etc. With a pre-set credit limit, where you make the payment in installments on time stays every month.
What if I spend more than my benefit leaves? You can let it roll around at about 3.6% and pay in just another month, or you can take the ticket and pay. The minimum of the card will be discounted.
Payroll Loans and Payroll Credit Cards?
Although both are payroll-deductible and have discounted loans. The basic difference from payroll deductible loans and payroll deductible credit cards is that in payroll deductible loans or payroll deductible loans you receive cash in your checking account.
In the case of deductible payroll credit card, the money is in the card for you to pass and use.
Conventional and payroll credit card?
Both are credit cards. The difference is that the regular credit card gets the bill every month for you to pay. In payroll credit card the minimum bill is already deducted from your benefit.
What are the prerequisites, advantages and disadvantages
Not much different from other credit strands, there are some criteria this is true, but in general it is the same with other lines of credit.
If you are considering acquiring a payroll-deductible credit card, here are some criteria, you will need to be a formal contract worker, public, municipal, state or federal employee, retired, INSS pensioner or military officer. It is accepted as a conventional credit card in almost all trades throughout Brazil, and you can even automatically participate in promotions that are offered by the card’s banner.
When it comes to payroll card one of the advantages is the interest which is lower than a normal credit card.
No annual fee and upkeep, details that make the payroll credit card cheaper than the conventional one. Another relevant detail is that you can get a payroll credit card even if you have a negative name. This card is without consultation, to purchase just fit the criteria already mentioned above.
To be sure, the biggest disadvantage of payroll deductible credit cards is that their paycheck is compromised as it is directly deducted from the payroll. Your purchase should be carefully planned so that your finances do not get out of control without compromising your family budget.
Is payroll credit card the same thing as a loan?
This may be the question of many people, so let’s clarify here, the answer is NO, it’s not a loan.
When it comes to the loan the borrowed amount is deposited or transferred at one time in your account, and the installments can be for long months according to the contract. With payroll credit card, it is optional whether or not you make purchases during the month, the amount to be discounted will only refer to what was spent.