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Looking for credit cards with no annual fee even if you're unemployed? Using the American example as a guide, the number of unemployed people in Brazil could rise dramatically in the coming days. Job losses in the midst of the crisis could contribute to an increase in defaults among Brazilians.
At the end of 2019, the number of people with a negative credit rating on the credit protection agencies SPC and SERASA exceeded 63 million. It will be more difficult for these individuals to pay in instalments and make online purchases.
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If you belong to this category and didn't know it was possible to apply for a credit card even with a bad credit score, we offer four possibilities for consumers with restrictions that don't charge an annual fee.
" Read also: Credit card approved instantly and online? Discover 6 options!
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4 credit cards with no annual fee for people with credit card debts
1. Simple Caixa Credit Card
The Caixa Simples Card is a payroll card for pensioners and beneficiaries of the INSS. As well as having no annual fee, this card also has low interest rates.
By using a portion of the benefit as collateral, the card's fees are up to three times lower than those of standard cards, according to Caixa.
You can also withdraw 95% of the credit limit in cash without incurring any fees when using this card.
As well as enabling online purchases and instalments, lower rates can be an alternative to more expensive debts, meaning that it is advantageous to use part of the credit card limit to pay off past obligations.
Order now (here)
2. Trigg card
Trigg is a credit card obtained directly via an app and managed entirely by the mobile device. The card application and approval process is completed within a few minutes of the request.
As well as being easy to accept, the card offers its own rewards programme, where customers who use the card to make purchases receive up to 1.3% of the transaction value back.
For people in a hurry to make a certain purchase, the virtual card feature is still available before getting the physical card.
Trigg includes NFC technology that allows users to make purchases by approaching the card, as well as a Member Gets Member system that compensates users for each invited friend who starts using the card.
Order now online (here)
3. PagBank Card
We previously produced a short article on prepaid credit cards. Suitable mainly for individuals who need to make one-off purchases and have received a poor rating.
The biggest benefit of the PagBank account card is that you can use your account balance as a credit card without having to apply for a prepaid card or pay the typical issuing fees associated with this form of payment.
In addition to conventional options such as online shopping and subscription services, you can choose how to use your credit or debit balance.
Get it now (here)
4. Credit card with digital account Banco Next
The bank, which emerged as a project by Banco Bradesco to democratise banking services, also offers a payroll discount card for account holders who receive a salary.
The significant difference is that the Next card is not limited to pensioners and civil servants. Private sector employees who receive a salary from Next under the CLT regime can apply for a payroll deduction card without consulting the SPC or SERASA.
Order yours (here)
The bank says it carries out an internal credit study and, based on the results, may or may not provide the card to people with negative credit, although it is an option for those who are not INSS pensioners.
In general, credit cards for pessimists can help the family budget breathe and overcome a difficult situation. However, it's important to remember that credit card debt is the main cause of default among Brazilians.
The ideal solution is to reorganise your finances, as cards for holders with negative credit can charge higher interest rates.
