Credit card withdrawal is a cash amount made available by the bank to those who need extra income to make purchases or make payments.
It is the solution for those who need money for some emergency and can not wait until the date of deposit of the next payment or benefit.
Learn more about this type of service!
Credit card withdrawal
The credit card withdrawal allows the user to withdraw the available value at the limit of their card, which is set based on their monthly income .
Generally speaking, credit cards allow you to make withdrawals at ATMs from the 24 hour network available at different points in Brazil. That is, regardless of the bank or the region in which you are, you can make the withdrawal and have money when you need it.
Conditions of withdrawals?
The interest rates applied on the withdrawn amount vary according to the bank to which your card belongs, being equivalent to the interest rates of the revolving credit, but with much more interesting values. That’s why it’s important for you to evaluate the rate applied by your bank before making withdrawals.
Therefore, the total amount of the payment of the draw consists of the combination of:
Is it worth performing credit card withdrawal?
Traditional credit card withdrawal is more indicated when you do not have another credit option available. This is because the interest rates applied can be very high, depending on the bank to which you are accredited.
However, if the withdrawal is made with the payroll deductible credit card , this transaction is carried out under much more favorable conditions, both with regard to rates and the term.
Benefits of Consigned Cash
The advantages of payday loan payday loans go far beyond low interest rates. Check out the main ones:
Regardless of the value of your withdrawal, discounts are made directly from your payroll in small installments, without exceeding the minimum invoice value of 5%. That is, the discount is small and does not interfere with your financial planning.
Imagine that your limit is $ 4,000 and the minimum amount discounted on your invoice is $ 150. From this limit, you have drawn $ 1,800 to make a purchase. Payment of this amount will not be made in full. That is, you divide in small installments and pay little by little .
The withdrawal process is not bureaucratic. To carry out the transaction you only need to have the Payday credit card and limit available to withdraw. Simply request the release to the issuing bank of the card at any of several points of service: bank, stores, website or applications.
Low interest rates
The interest rates applied on payday loans are lower than the rates applied on traditional credit card withdrawals. While on the payroll, they are staying at 3% per month , in traditional cards they fluctuate close to 20% per month, according to statistics from the Central Bank of Brazil in February 2019.
As you can see, Payday deductible credit card offers more advantageous conditions for those who need money.
Want to know more about this type of credit? So check out our post: Credit card for retiree: what are the advantages?