If a sed consciously, the credit card can be an exit when it is not possible to pay that required purchase at sight. Among the modalities offered by financial institutions, the payroll-deductible credit card is a viable option, but, like the conventional card, it has advantages and disadvantages.
Here is some interesting information to help you understand how the payroll credit card works. Keep reading and find out if this is the best option for your needs.
Who can have a payroll credit card
Unlike traditional models, payroll-deductible cards are intended for consumers eligible for payroll-deductible credit, which is, those that are directly discounted on payrolls.
To have access to the card, it is essential that you fit in one of the following profiles:
- retirees or pensioners;
- employees with a formal contract;
- municipal, state or federal public servants;
- or even police of the armed forces.
It is worth noting that, in the case of professionals registered in the portfolio, it is necessary to consult if the company has a partnership with the card administrator, as this is what enables the payroll discount.
How does the card work?
The payroll card works similarly to the loans of this type. Based on your benefit amount or monthly salary, a credit limit is available that can be used for merchant purchases, withdrawals and bill payments.
Unlike the conventional card, the payment of the payroll credit card is linked to the receipt of your salary or benefit: the amount of the invoice is directly deducted from the payroll. .
It is important to know that the payable margin (ie the maximum amount of your income that can be committed with payroll loans) is 35% and only 5% can be used for payroll card spending. .
If the invoice amount exceeds 5%, the remainder must be settled by means of an extra slip, called the complementary payment slip, on the informed due date.
The interest rates charged by the payroll card are much more attractive when compared to the common credit cards, being in the range of 5% and, in the case of withdrawals and pensioners, 2.34%. The interest rate applied to ordinary cards exceeds 14%.
What are the main advantages and disadvantages
The great advantage of the payroll-deductible credit card is that it does not refer to the credit protection agencies, precisely because the payment is guaranteed with the payroll discount. There is also the absence of the issue, maintenance and annuity fees, besides the low interest rate.
As for the disadvantages, the main one is the commitment of part of the salary in an uncontrolled way. Before using the credit card or even applying for a payroll loan, you need to analyze the current need for use. This is the best way to avoid unnecessary debt resulting from unconscious use of the credit.
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