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What is the Payroll Card?
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To facilitate cash purchases and withdrawals, cards were invented. There are several types, debit cards (which immediately put the money into your bank account), credit cards (which generate an invoice for you to pay on a certain date of the month, prepaid cards (credit cards that you add a cash amount so that there is a limit to be used as a credit card - but it has the same mechanism as the debit card, the expense is immediately deducted from the existing credit on the prepaid card.) Here we are going to deal with credit cards. payroll and its differences from other cards, in addition to the super advantages.
Anyway, what is the Payroll Credit Card and its advantages?
The main feature of the Payroll Credit Card is that the minimum invoice amount is automatically deducted from the paycheck or INSS benefit. As payment is already guaranteed, its rates are 5 (five) times cheaper than other conventional cards.
Payroll Credit Cards can be used to make purchases or purchases in installments. Also, it can be used to withdraw from networks 24 hours a day (when this option is available).
The Payroll Credit Card can be used for purchases in installments, cash purchases or cash withdrawals.
The Discount is automatically made on 5% of the monthly bill, directly on the paycheck.
Payroll Credit Cards are those in which the minimum invoice amount is automatically deducted from the employees' paychecks or from the INSS benefit. The characteristic of having already deducted directly at the source, before the money goes to the beneficiary's account, the rates are up to 5 (five) times cheaper than traditional credit cards, BUT ARE HIGHER THAN THE PAYROLL RATE LOAN .
How does the Payroll Credit Card work?
Like other cards, you get a credit limit to spend or installment your bills. In this way, the amounts of expenses are paid monthly to the banks, through the Payroll Credit Card invoice. The difference is how this payment happens.
In the payroll-deductible mode, part of the invoice amount is automatically deducted from the INSS paycheck or benefit. So, the value of 5% is straight from the paycheck (servers) or INSS benefit.
The maximum amount to be deducted from the invoice is a maximum of 5% of the net monthly income , which we know as the Consigned Credit Card's consignable margin is 5% of the income from the paycheck or INSS benefit. There is another margin of 30% of the salary of both civil servants and INSS retirees and pensioners, in this case it is 30% and its purpose is exclusively for loans.
Check the example below to understand how the payroll credit card bill payment can be made.
total invoice
BRL 3,000
-
5% automatic discount on the paycheck for the consignable margin
BRL 150.00
=
Remaining balance of invoice
BRL 2,850
The remaining amount of the invoice can be paid via bank slip. If the difference amount is not paid, this amount will incur interest, which is the lowest in credits, which will be added to the following month's billing and so on. In the following periods, if the card is used, this amount will also be added to the following invoices.
It is worth considering that if the amount of the expense is greater than the amount debited from the account, the Payroll Credit Card customer may make the additional payment in the amount they choose (partial or total), paying in the payment slip received by the due date, THIS IN CASE OF WITHDRAWAL OF THE ENTIRE WITHDRAWAL LIMIT, WHICH WE DO NOT RECOMMEND, MAY BECOME A DEBT TO BE SETTLED FOR A LONG TIME.
In addition to purchases, the Payroll Credit Card limit can be withdrawn and deposited in the customer's account. Likewise, the minimum discount amount is 5% and the balance paid is returned as a credit limit.
Who can hire the Payroll Credit Card?
Who is eligible to take out a Payroll Credit Card?
Not everyone can enjoy the cheapest credit card on the market. Which is also one of the only ones that don't have an annuity. See the list of groups of people who can hire:
INSS retirees and pensioners
public servants
Military personnel of the Armed Forces (Army, Navy and Air Force)
Private company workers (CLT)
If you are interested in contracting, you must have a fixed income that is agreed with one or more banks that do this operation.
The documents required to apply for the payroll credit card for Retirees, Pensioners, Public Servants and Armed Forces (Army, Navy and Air Force):
RG or CPF;
Proof of Residence (address);
Proof of income.
It is worth remembering that retirees and pensioners can only contract a payroll-deductible credit card in the state in which the benefit is received and in affiliated banks. Regarding federal servants, they must issue consignee authorization at SIGEPE (federal servants system).
In all cases, it is only allowed to issue a credit card consigned by CPF.
About limits and interest on the Payroll Card
The payroll card limit is generally 20 to 25 times the payroll credit card margin. If a person earns R$1,045.00, for example, the payroll credit card margin is R$52.25, multiplying by 20 or 25, depending on the bank, you will have a limit, respectively, of R$1,045.00 in the first case it is R$1,306.25.
The current interest rates (01/23/2021) on the Payroll Credit Card are much lower than other cards and around 30 to 40% higher than the payroll loan. AVOID THE WITHDRAWAL.