What is the differential of the Payroll Credit Card?
First of all, the operation of payroll credit card is similar to that of any other type of card. Your carrier imposes a credit limit, you make the necessary purchases, and have a date set to pay off the accumulated debt for the previous month.
The difference is that the payroll, as the name suggests, is linked to your salary, his payment is already deducted from your payroll. You do not have the option to pay before or after the due date or to pay the minimum invoice amount, for example.
Who Can Make a Payroll Credit Card?
To get a payroll-deductible credit card, you need a business / benefit and bank agreement, which ensures payroll discounts, as with loans.
Check out the conditions:
- Be retired or pensioner of the INSS;
- Work with signed wallet;
- Be a civil servant;
- Be military.
Difference Between Payroll Credit Card And Payroll Loan
In payroll-deductible loans, already known to most Brazilians, you immediately receive the amount requested and then pay the installments that are deducted directly from your paycheck.
The payroll credit card works a little differently, the amount paid will be the invoice payment amount for the month’s spend.
One of the good points is that almost always, the payroll credit card limit is higher than conventional credit cards.
What are the advantages of Payroll Credit Cards?
– The main advantage of this credit model is that it does not allow indebtedness, as it is not possible to go unpaid. With the partnership between your company or benefit agency, the amount is deducted directly from the payroll, as well as the payroll loan.
– It is not possible to pay the minimum amount of the bill, as with conventional credit cards, which generates higher interest later.
– Annuity is free, many credit cards charge high annuity fees, plus very high interest on the invoice amount.
– To make the card is not necessary to make an appointment with the SPC and SERASA, so you can get even with the dirty name, since the bank does not risk you not paying the debt.
– Payroll credit cards offer much lower interest rates than regular credit cards.
– In relation to fee collection, payroll is cheaper than the conventional card.
What are the disadvantages of Payroll Credit Cards?
One disadvantage is that the payroll deductible credit card compromises a good portion of your paycheck. Payroll cards usually have a much higher limit value than regular cards. So be very careful not to spend your entire salary on the payroll credit card.
Payroll-deductible credit cards are usually limited to 20% of salary, but can double depending on the bank.
The loan can charge even lower interest rates than payroll loans. Among the types of credit, it is the most advantageous than the card.
Both the card and the loan can be combined, with a 35% payroll limit, with a 30% split for the loan and 5% for the card.
Is it payable to opt for Payroll Credit Card?
Of course, everyone should evaluate each point for himself, but in general this mode has many advantages over the traditional card.
Payroll avoids debt and you will have a much lower invoice amount than with conventional card.
Between the payroll-deductible credit card and the traditional loan, one has to evaluate. For those who need the money now, the payroll loan is better because the money already falls into full account after approved.