What is the Payroll Credit Card? Payroll Credit Card is a Card with the same functions as a normal Credit Card, however, it is deducted directly from the customer's payroll if the customer does not pay the bank slip. It has the lowest interest rates among all credit cards due to the almost zero risk of default, since the customer, not paying the bill, compulsorily deducts from his salary before it goes to the account. Although the rates are the lowest among Credit Cards, they are higher than the payroll loan. In the case of total withdrawal of the card, it can happen, it is very common, the interest to be discounted to be close to, equal to or greater than the 5% discount of the salary, thus creating a long-term debt.

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Who can or is entitled to take out the Payroll Credit Card?

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In the case of this card, it is available to Retired Persons, Pensioners, Public Servants in general, whether they are active or not, or even Pensioners and workers with a formal contract. The latter must have a bank affiliated company with the credit and payroll card product available in their account. Unlike other audiences, in the vast majority of cases, almost all of them must be account holders. Civil servants without stability, such as commissioned workers, government-controlled companies or those hired under the CLT regime, have little or no offer from the banks. And those that make it available to the latter audience, have peculiar rules that greatly restrict access and part of this audience.

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Can I contract consignable products even with dirty or negative names (with restrictions, for example, in the SPC or Serasa)?

For payroll loan products, there is no query for a person with a dirty or negative name. In other words, there is no consultation with bodies such as SPC and Serasa

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What is the margin for payroll loans and payroll credit cards?

The rules are for the most part the same in this situation, but there may be differences, as each of them is governed by different sources. For example, the INSS is governed by the legislature or by a provisional measure of the executive. Governments are governed by their legislative assemblies. But, as a general rule, it is 30% for a payroll loan (credit) and 5% for a Payroll Card. This amount is calculated on top of the Salary after deducting some essential expenses. It is almost always calculated on the net amount received from the potential payroll customer.

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What is the value of the payroll credit card installments?

The value of the installments on the consignable credit card is in accordance with your spending on it. If it is paid in installments and the installment is less than 5%, you can choose to pay the bank slip and the debt will not be deducted from your salary. If it is greater than 5% of the consignable card margin, you can also choose to pay in full and it will not be deducted from your salary. In both cases, if it is not paid, it will be deducted from the card margin. If it is higher, a maximum of 5% will be deducted from the salary and the rest will add the debt next month. If the interest is greater than the discount, the debt can become very long-term debt.

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What is the consignable credit card limit?

This limit will depend on some factors, such as the customer's paying agency (agreement) and the selected bank. As a general rule, the limit is calculated from 20 to 27 times the value of 5% of the card margin.

About the Payable Credit Card Withdrawal, how does it work? Do banks reserve part of the limit for withdrawals on the Consigned Card? Previously, a percentage of 90% of the Payroll Credit Card limit could be withdrawn. Currently, this limit has changed in some agreements and/or bank. It went from 90% to 70%.

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What are the advantages and disadvantages of the Payroll Credit Card? The main advantages are:

- Lower interest rates compared to other Credit Cards. Compared to other cards that are close to 15% am (per month), those of the Payroll Credit Card are around 3% to 4% per month.
- No annual fee
- Without consulting the credit control agencies for those who have a "dirty" name or negative as SPC or Serasa
- Discount directly on Salary (can also be seen as a disadvantage).

The disadvantages are:

- Discount directly on the salary (it can be an advantage, it is a disadvantage when the customer creates a debt where the 5% portion of the Payroll Credit Card margin is greater than, equal to or close to the interest charged on the debt. This happens, in general, when the customer makes the total withdrawal or purchases with interest divided in or in a few installments.

What are the deadlines for payment of the Payroll Loan? For Federal Servers (Siape) , they can be done in up to 96 months. For INSS Retirees and Pensioners, up to 84 months. Governments have different maximum terms, which usually range from 60 to 96 months, as does the city hall. The same is true for private employees, who have a reduced maximum term, from 24 to 60 months in general. The armed forces are also different.

What is the maximum term for the Payroll Credit Card? There is no deadline. It extends to the full payment of the debt. We draw attention to the amount of the debt and the interest charged, as the term can be very long, and may even exceed 96 months.

What is required in terms of documentation to take out a credit card or payroll loan?

- Identity document recognized in the national territory (RG, CNH, New Work Card, among others as a professional registration card in an official body);
- Payment and/or loan statement;
- Proof of address;
- CPF if not in the RG;
- Proof of Income (payslip), in the case of a public company employee.

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Where can the payroll deductible credit card be withdrawn?

At Banks of the Banco 24 Horas network.

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What is Consigned Credit annotation?

It is when the credit card installment or margin is committed within the customer's paying agency (agreement). In the case of the loan installment, a bank endorses and will have the right to discount until the end of the debt. Many banks can register several installments until reaching the limit of the consignable margin of the consigned loan. In relation to the Payroll Card, only a bank can register the margin of the Payroll Credit Card by benefit or paycheck. The registered margin is all 5%. Even if the customer does not consume anything on the payroll card, the margin is linked to that bank for a possible discount in case of consumption (purchases or withdrawals).

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Can I change my Payroll Credit Card to another bank? Yes. However, if there is an outstanding debt, you can only cancel with the current bank and change banks when the debt is extinguished.

What is a payroll loan?

It is a loan for INSS retirees and pensioners, public servants and pensioners from federal, state and municipal agencies, military personnel and Armed Forces pensioners, in which the installments are deducted directly from their payroll.

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What is the maximum amount of the Payroll Loan installment?

The maximum amount of your monthly installment (consignable margin) is defined according to the loan, and cannot exceed the consignable margin limit.

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What is the interest rate on the Payroll Loan?

Fees vary depending on your paying source:

State, Municipal or INSS Federation. And also according to the table chosen in the chosen bank.

What is credit portability?

Federa Estadual, Municipal It is the possibility of the customer who has a credit operation in a Financial Institution to transfer it to another, provided that the value and term of the operation in the new Institution is not greater than the debit balance and the remaining term of the operation of credit carried.