The consigned credit card is the one that unites the functionalities of the traditional credit card with the characteristics of the payroll.
That is, you can use it to make purchases and install them, both in physical stores and online. In addition, the Personal Payday Card has low interest rates and can be released to anyone who is negatived in the market.
Understand better what is the consigned credit card !
How does the Card work?
The Card consigned card has the same basic features of the common credit cards. However, the difference between them is that the Card can be requested exclusively by public servants, retirees and pensioners of the INSS, since they are people who have a monthly fixed income .
This is an important requirement, since it is related to the payment of the card, since the Personal Payday Card installment amount is automatically deducted from your salary / benefit. This debt is limited to up to 5% of your monthly income, according to the assignable margin.
Before the automatic discount is made, an invoice with the amount used on the card is sent to your address. You have the option to pay the full amount of the invoice, which eliminates interest rates. But, if payment is not made, the amount will be deducted from your monthly income.
Consignable Margin : It is the maximum limit of monthly income that can be used for the payment of the card and the payroll loan. To know more information, see the post: Margin Consignable: What is it and how does it work?
The Personal Payday Card interest rates reach about 3.0% per month and up to 5 times smaller compared to traditional credit cards. This is because the bank has a greater guarantee that the installments will be paid, since the amount is automatically charged to the customer’s monthly income.
The Personal Payday Card allows you to transfer up to 95% of your card limit to the account in which you receive your benefit. It is important to say that you can request as many transfers as you wish, without paying additional amounts for the service. In addition, you can withdraw money at any ATM in the 24Hours network.
To know more about how the transfer of the consigned card limit is made, check the post: Complementary withdrawal: What is it and in what situations do I request it?
Can Negatives Request the Personal Payday Card?
Yes. Those who are denied can request the Personal Payday card, since the value of the invoice is deducted from the salary / benefit of the customer. Therefore, it is not necessary to consult the SPC / Serasa, which also reduces the bureaucracy of the operation.
When applying for the Personal Payday Card, you can include the Lender Insurance, which guarantees the settlement of the remaining portions of the card in case of death or disability of the client.
It is important to say that the Lender Insurance is not something obligatory, the client has the option of hiring him or not. If requested, the fee will be charged once a year, directly on the Personal Payday Card invoice.
The Personal Payday Card also has the international function , being possible to use it in establishments abroad and in international sites. In addition, you can withdraw the card limit at 24-hour Cirrus Network ATMs available worldwide and use whatever amount you prefer.
Personal Payday Card My Time
Personal Payday Card My Time is a service that allows you to customize the card with the symbol of your soccer team. With it, you have access to discounts for purchasing licensed shirts from your team. When you use 50% of your card ‘s limit on purchases or withdrawals, you receive an official team shirt.
Mastercard Program Astonishing
Surprise Mastercard is a program in which you earn points when you make purchases with your Personal Payday Card. Each purchase equals one point and you can redeem them for products in stores such as Avon, Outback Steakhouse and Habib’s.
To participate in the program, simply register on the website of Mastercard Surprise and register data such as full name, email, CPF, zip code and Personal Payday Card number.
I want to know more
Now that you know what the Personal Payday Card is, it is important to use it carefully because even if interest rates are low, they increase the final value of the loan.
In addition to Personal Payday, other banks offer payroll deductible credit cards. Find out the best in the post: Find out now which is the best Consigned Online Card!