This Wednesday (24) Nubank has launched a feature that allows you to convert a portion of your credit card limit into cash in your account. The new feature will be rolled out gradually to customers starting today.
Changing the card balance limit is done through the application itself and the amount appears in the account immediately, without the need for analysis. This process can be paid in 12 installments with an interest rate of 8.5% per month.
According to the virtual bank, while testing the new feature, it was observed that some customers were opting for this new feature instead of creating Pix via credit. Those who made multiple PEX transactions on credit end up replacing them with the method because they pay interest and taxes on the money transferred to the account and not on each PEX.
The product of converting part of the card limit into credit is gradually being launched for Nubank customers (Image: Disclosure / Nubank)
Nubank explained in a statement that, as is the case with other installment products, – It is possible to pay in installments in advance to obtain the discount.
“The goal is to provide more security to our customers in times of account balance shortages and in institutions that do not accept credit payments, providing another alternative and expanding financial possibilities,” said Livia Chanis, the new CEO of Nubank in Brazil.
How to add balance to your Nubank account using card limit?
- Open the Nubank app and access the card area;
- Select the “Pass everything on credit” option and click “Add Account Balance”;
- Choose the card limit value that will be converted into an account balance and enter the number of installments you intend to pay for the transaction;
- Confirm the operation, and that's it, the money will be in the account.
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