A credit card is something that makes life easier for many people, even though it is too complicated for many Brazilians to access this facility. This is because at the time of approval, things get complicated. Financial institutions tend not to accept low-income people, who do not have a financial history and especially those who are not passive (known as sloppy).
Nubank decided to look at this audience that is being ignored by most banks. The institution offers a card that helps the user to build a positive relationship with the bank. The card will allow a person to make purchases in virtual and physical stores.
According to the co-founder of Nubank, one of the advantages of the card is that it allows for in-person or online purchases.
“This must be my first experience with a similar product Credit card traditional, which allows purchases in any type of in-person or online establishment,” he explained.
The tool should act as a gateway for those who did not have a credit card before. One of the advantages is the fact that passive people have access to the card and the ability to buy with credit, achieving a pre-approved limit.
What is the new Nubank card for passive people?
When you sign up for a new Nubank card, you receive a pre-approved unlimited utility. For this, the customer will need to “withdraw” an amount from his account and apply it to the card through the “Add more limit” option. Everything is done by the digital bank app.
Take an example: If you want to use R$200 to be used in the credit function, it will be possible to transfer R$200 from your account to the card limit. This amount is immediately released to be used as credit. If you make a R$150 purchase, a portion of the funds will be separated and your new limit will be R$50.
This way, at the end of the month, you pay the card bill with money from your account and the cap comes back to R$200 – that is, if you don’t change the amount you set aside to use as a maximum, that person will always get R$200, to be able to add more.
The bank tells you that you can deposit as many times as you want and as much as you want – the limit varies according to the amount of money deposited in your account. Nubank launched its new digital bank credit card in February 2021.
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If you no longer need the balance and want to refund the transferred funds, you will need to request a refund to your digital account. Remember that the card operates in a credit function, and is different from the prepaid card model.
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