Did you know that it is possible to apply for a credit card for pensioners? In addition, there are credit cards with benefits that can be of great help to those looking for this category of credit card, as they are specifically aimed at this population.

Today, we're going to discuss the benefits, features, how to do it and market possibilities. Read to the end!

How does the pensioners' card work?

Finding a suitable credit option can be a little more difficult for retirees. This is due to the fact that, when you retire, your resources are restricted to the amount you receive from your pension, as well as other factors that are considered in the analysis.

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That's why a credit card designed specifically for seniors is perfect and can offer a variety of benefits and features.

With it, all the functions of a standard credit card are possible. The difference lies in the payment of the bill, which is deducted immediately from the user's paycheck or benefit, in this case. It also works essentially as a kind of bank loan.

Consequently, you can use your card for standard purchases, withdrawals and payments, as well as for other purposes.

However, are you aware of the retirement possibilities available to you? There are several options, and we'll discuss them below!

What benefits are there?

As credit card companies in this category don't communicate with the credit protection agencies, there are no restrictions for people with a negative credit rating. In addition to providing a variety of services, such as cash withdrawals and installment purchases, the company also offers a variety of other services.

It is also worth noting that many establishments accept credit cards from pensioners.

And the annual charge is usually significantly cheaper or non-existent, apart from additional fees which are usually free. In addition, several cards in this category provide points-earning schemes with the opportunity to earn exclusive discounts.

Credit cards for the elderly: learn about the alternatives

Personal loans, financing, consortium loans and payroll loans are the types of credit most used by pensioners.

The payroll card, however, offers the same functionality as a credit card. That's why we'll discuss this mode in more detail below, with the card alternatives.

BMG credit card

The credit card BMG is an alternative card for pensioners that is easy and unbureaucratic to apply for.

The card works as follows: the invoice amount is automatically deducted from the employee's salary and can be purchased up to 5% of the benefit. In addition, the card has no annual fee and allows cash withdrawals.

You must have a minimum wage to apply for the card.

Caixa Simple payroll credit card

O card Caixa Simples consignado offers several benefits, such as no annual fee, low interest rates and no need to consult your CPF.

In addition, the bill is automatically deducted from the salary earned, which can be up to 5% of the income. In addition, a minimum wage income is mandatory.

PAN credit card

O PAN is a complementary bank that offers payroll services to pensioners. The card has no annual fee and can be used for cash purchases, installments and withdrawals.

It has a maximum of up to double your salary and is also a great alternative for those who are unemployed, but it requires an income of one minimum wage.

Inter Consignado credit card

The payroll credit card Inter Bank has an international payment option and no annual fee.

In addition, no credit protection agencies are consulted and withdrawals of up to 90% of the credit limit are allowed. You need to have a minimum wage to get it.

How to get a credit card for a pensioner

After carrying out a thorough investigation and selecting the best company that offers credit cards for people with a negative credit rating, it's important to know how to submit the application.

The application can usually be made on the website through a quick and unbureaucratic registration process.

However, this will depend on the institution you select, as in certain situations you may have to apply in person.

However, the documentation and prerequisites are generally the same, regardless of the school.

Important documents

When registering, the primary documents you need to submit are quite simple. Normally, to obtain the benefit, you need a photo ID, CPF, proof of address and payslip.

The minimum income is another stipulation, as seen in the previous letters. The applicant must have a fixed income and receive at least one minimum wage benefit in this case.

How to choose the ideal alternative

There are several companies that provide credit cards for retirees, and you may not be sure how to choose the right one.

To make an informed decision, you should evaluate the costs, interest rate, services provided and advantages of each card, as well as their characteristics and requirements, such as fees and APR.

Also, don't forget to analyze whether you want a traditional institution with physical branches or whether you prefer the internet environment.

Select your financial institution and submit your credit card application.