The news of the new Credit Card pleased many INSS insurance customers. The information is according to the official Caixa Econômica website, but there are rules for this new card, find out more below.
Caixa Econômica Federal is eyeing a potential market of 33 million customers, which is why it launched its payroll credit card. Initially, the product will be aimed only at INSS beneficiaries and will only be available at branches in Brasília. The goal is to expand the offer to the rest of the country, including Rio, by June 2020.
The new Caixa card has a pre-established limit of around 1.4, which is equivalent to the proportional value of the benefit. There are many advantages to this new card, especially for INSS policyholders. Check out more information below.
New Caixa Credit Card – check out more information about fees and interest
Here's an example: a retiree who earns around R$1,000 will have access to a credit limit of R$1,400. When he applies for his credit card, he will have the option of receiving the entire amount in a current account, as a loan, or leaving the branch with the card to use for purchases.
Another great advantage of this new credit card is that the installment amount cannot exceed 5% of the benefit. According to information from Caixa, the rate is higher than the average for a payroll loan, which is 1.8%. If the customer pays only the minimum amount discounted from their payroll, they will pay off the debt in 60 months.
The launch of this card is part of the public bank's strategy to increase the range of products it offers to its more than 100 million customers.
Anyway, for more information about Credit Card? Click here and check it out the options.