Today we'll share some information about the best no-annual-fee credit cards on the market. You might be wondering if this is actually possible, but we'd say: Yes! There are no rules or plausible explanations for credit card approvals; they often vary by company.
The first great card we recommend is Digio. We can say that there are indeed cases of people with bad credit getting approved, and often with good limits. While many people with clean credit have their cards declined.
Be careful: it's very important to say that there is no perfect recipe for approval, so if you have a bad credit history, apply for the Digio card, as it is possible to be accepted.
Why do financial institutions accept people with negative SPC status?
The main revenue from no-annual-fee credit cards comes from bad debtors, who accumulate revolving interest on the card. Therefore, those with bad credit are usually welcome.
Typically, the company believes this person's chances of delaying an invoice, paying interest, and generating more profit are high! This leads to a positive response to negative responses.
Credit cards generally don't want to default on payments and put the person's name on the SPC or Serasa credit rating system. That's where the thorough evaluation comes in.
Where can you find your entire purchase history using your CPF? Are you in debt? Have you missed a lot of payments? Are you in debt to several companies?
Santander Free Card with no annual fee
The most important thing is to always pay your bill on time. Over time, the bank will understand that you're a good customer and that you need a higher credit limit, as you're not causing any losses.
Tips for using your card without an annual fee
It's important to remember that the more you use your card, the more you'll use up your limit. You won't leave it idle, and consequently, you won't run the risk of having your limit reduced. Yes, this also happens due to lack of use. Therefore, try to concentrate all your expenses on your credit card. This will consequently increase your credit limit over time.
It's important to use your card for international purchases. We can't guarantee this, but it's an additional feature the bank may consider when increasing your Santander Free card limit.
To conclude our tips on cards with no annual fees.
Another helpful tip is to request a limit increase through the app at least twice a month. Always try to request at least double your current limit. You'll notice, over time, that the limit increases naturally.