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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?

Interest rate

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.

Limit transfer

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.

Lender Insurance

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.

International Card

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!

Credit Analysis – How Does It Work?

July 2, 2019 | Credit | No Comments

When you lend your money to a friend or family member you do not get to do a credit analysis, but always expect to receive it back. Right?


With the Banks and Financials works the same way … The difference is that usually these companies do not know the person who is borrowing money. Therefore these financial institutions perform a process called by credit analysis.

Credit Analysis – How is it done in banks and financial?

The credit analysis usually has 5 phases:

1) Application for Cadastral Data: Normally, your registration data begins (as you are the one who is borrowing money). The most important at this time is to truthfully inform all requested data. In addition to your identification data such as Name, RG and CPF, date and place of birth, name of the father and mother, companies that are giving the credit need to know their contact information (telephones, email and address), data about their how to earn money (occupation, income and employer) and data about your spouse when you are married. Some personal and professional references will be required for your primary data to be confirmed. Other information on the possession of some goods and means of payment are also common in the registration forms.

Analysis of restrictions on your behalf

2) Analysis of restrictions on your behalf : Based on these data the financial institution starts the credit analysis and verifies if there is any payment pending both with the institution itself and with other creditors by consulting for this the famous negative records of Serasa, SCPC or others.

3) Analysis of your credit profile : In addition to this analysis, the institution assesses if your credit profile fits the profile expected by the financial through a statistical technique called Credit Score (score your data).

Analysis of the commitment of your income

4) Analysis of the commitment of your income : If everything is correct, the next step of the credit analysis will be the evaluation of your ability to pay where it is usually checked if the requested loan amount “fits in your pocket.” For this, banks and financiers generally consider that the installment can not exceed a percentage of their salary. This proportion varies between institutions and sometimes between person-to-person within the same institution, but is usually between 20% and 30% of the sum of their income.

5) Analysis of your documents : Finally, the institution will request your identification documents (RG and CPF) and proof of income and residency, and you can also make some cadastral checks with the proponent and his references.

In other words, to increase your chance to have your Personal Loan approved, Good Credit suggests that you provide your information correctly, use credit wisely and always be sure that you can honor your commitments.

Want to do your credit analysis without cost and without any hiring commitment? Then click the button below and start now!




Avoid Problems with Financing

May 6, 2019 | Credit | No Comments

Many people are familiar with the lines of real estate and car financing, but nowadays several additional lines of financing are offered by financial institutions, it is now possible to finance the college through student financing, to finance plastic surgery, to finance the purchase of equipment accessibility, such as hearing aids and prosthetics, in order to finance the most diverse types of goods and services.

Research among the various institutions in the market

It is very important to evaluate the costs involved in the operation, deadlines and guarantees that will be requested to effect the financing, there are many options for institution in the market, so research well before closing the deal.

Evaluate your income

One of the biggest reasons for refusing a loan is lack of sufficient income, whether you actually have the financial condition to take over the operation, if any, financial planning and increase the entry so that the amount financed will decrease. It is also important to consider unforeseen, if you have any problem with your current salary, is there any plan to honor the funding?

Simulate the situation

One of the best exercises is to simulate how your financial situation would be in the last few months with the payment of a portion in the amount that you want to contract the financing. If you’re not in a hurry, simulate in the next 3 to 6 months by making a financial application exactly the portion of your funding, see how that affects your budget, and take the test to build up a reserve and increase your income.

Extra costs

Often in contracting the financing we only evaluate the installments, but when financing a real estate, for example, we have several other costs involved, such as contractual elaboration, inspection of the property, registry in registry, besides taxes.

Do not stay in default

Default in a financing is one of the worst situations that can occur, especially if you allow to accumulate installments in arrears with more than 90 days. This is the period that the bank can execute the contract and initiate the arrangements to “take” the good that was used as collateral.

Evaluate the clauses of the contract

Always review the clauses of cancellation and termination of the contract, in case of unforeseen circumstances such as unemployment, or something that affects your income in an unpredictable way, you must know how to act with the financial institution in order not to increase the loss.

Credit card, when used consciously and with financial discipline, can be a great ally for you to carry out your projects.

When the credit card invoice arrives it is important to check all the postings to check if there are no charges for undue amounts, be aware of the payment deadline for not having interest charges, among other items that need attention.

What to do when ripping your invoice envelope

Due date

Prioritize the day-to-day payment of your bills, especially your credit card, as it charges you a considerable amount for delays.

Check invoice ownership

Check the name of the cardholder described on the invoice, as receiving the invoice from another customer by mistake and paying is not so uncommon in the list of complaints from the operators.

Check your previous invoice payment

Invoices invariably have a field labeled “Credit” to identify the payment for the previous invoice. If something is incorrect, check with your service provider.

Review the purchases listed on the invoice

Analyze purchase by purchase, check dates, values ​​and purchase installments. Even if it is something complicated, it is necessary to avoid problems.

Did you pay the minimum on the invoice?

This is always a bad deal because interest is expensive. Even so, take the time to check the interest collection calculations and try to get rid of the interest rate as quickly as possible.

What is Revolving Credit?

The revolving credit is the modality most associated to the use of the credit card. Every time the invoice is not paid in full, the remainder of the debt goes to the next month. This results in consumer interest because it is credit that has been hired.