Payday Loans: What is Payday Loans?

Who has never used cards or so-called “plastic money” to make everyday life easier? But what almost nobody knows is that in addition to the common options of debit, credit and prepaid there is another: the paycheck-deductible credit card .

But after all, what is paycheck card and how to benefit from its advantages?

Payroll credit card is one in which the minimum amount of the invoice is automatically deducted from the paycheck or INSS benefit . By having the minimum payment already discounted, it has rates up to 5x lower than traditional credit cards

This type of card can be used to make and install purchases. In addition, it is also possible to cash withdrawals (in 24 hour networks, when this option is available). 

So knowing how this credit modality works can help make better choices.

How does the Consigned Credit Card work?


Like other cards, the consumer receives a credit limit from the bank to spend and to pay their expenses.

Then, the amount of debt is paid monthly to the bank, by the credit invoice. What changes is how this payment is made.

credit Card loan 

When set aside, part of the invoice amount is automatically debited from the paycheck. Thus, at the maturity date, the amount of 5% is deducted directly from the INSS paycheck or benefit .

The payable margin of the payroll deductible credit card is 5% of the net monthly income . This margin is an additional margin of 30% that is used for loans.

That is, the margin of the card of 5% is exclusive, so even those who have already committed the entire margin for loan, can acquire the card.

Check out this handy example to understand how the payment of the credit card bill can be made.

Therefore, if the amount spent has been higher than what was debited from the account, the customer can make the additional payment in the amount you wish, paying the invoice bill, until the date of its expiration, in any bank.

The holder can also choose to keep only the monthly consignment. If you make this option, the balance difference will be added to the total of the next invoice.

The card limit value can also be withdrawn and deposited into the account holder. The minimum amount (5%) is discounted in the same way, monthly, and the balance paid returns as credit limit.

See who can hire the consigned card and take advantage of its benefits.

Who can make a Credit Card?

Who can make a Consigned Credit Card?


Who can hire a paycheck credit card?

Although it is a more accessible personal credit line, paycheck card can only be requested by some groups. So find out if it is recommended for you!

The payroll deductible credit card is intended for Retirees, Pensioners of the INSS and Public Servants, as well as Military of the Armed Forces and Workers of private companies .

To hire you, the interested party need only have a source of fixed income that has an agreement with one or more banks that do this type of operation.

The documents required for the payroll deductible credit card application are:

  • RG or CPF;
  • Proof of residence;
  • Proof of income.

Retirees and Pensioners INSS, can only contract the card in the State of receipt of the benefit and in banks agreed .

Federal Public Servants – SIAPE, must issue the Authorization of Consignee in SIGEPE, to have access to the card.

Another rule is that it is only allowed the issuance of a card consigned by CPF or holder .

What are the limits and interest of the Card?


The limit granted to INSS beneficiaries is up to 25 times the margin value of the card. For Federal Public Servants (SIAPE) , the value can reach 27 times.

The rates charged by banks and financial institutions revolve around 3.00% to 4.5% per month. Even the revolving credit rate is much lower, averaging 3.50% per month. Amount well below the interest of the overdraft or the conventional credit card.

And the differences do not stop there! Check out the 10 differences between the payday loan and the conventional credit card.

10 differences between the Consigned Credit Card and the Credit Card


Much is talked about credit card options. So it’s worth comparing them to find out what is most advantageous for your pocket or need.

1) Average interest rate

The average interest rate on credit cards can cause the initial debt to increase greatly.

  • Conventional credit card : from 12.00% to 15.00% per month;
  • Paycheck-deductible credit card : from 3.00% to 3.50% per month;

The fees can vary depending on the policy of each bank and depending on the type of card.

2) Payment method

The invoice of the purchases or withdrawals made from these cards are carried out differently:

  • Conventional credit card : via invoice or automatic debit;
  • Payroll deductible credit card : minimum value of 5% discount on payroll or INSS benefit. The remaining balance can be paid via ticket.

3) Monthly payment amount

The installments or monthly installments can be paid in full or in part:

  • Conventional credit card : payment of full or minimum amount (minimum payment subject to revolving credit rates);
  • Paychecked credit card : payment of the minimum amount of 5% discounted directly from the paycheck. The unpaid additional balance is automatically added to the next month’s invoice (subject to revolving rates).

4) Payment date

There are also differences from the date allowed for debt payments.

  • Conventional credit card : It is possible to pay out of time (extras will usually be added on the next invoice);
  • Payroll-deductible credit card: minimum amount discounted at maturity. Payment of the surplus balance can be paid after expiration (accruals will usually be added on the next invoice);

5) Conditions for releasing credit

Unlike the conventional card, the paycheck-deductible credit card can be issued to retirees, pensioners or public servants, even if they are denied.

  • Conventional credit card : credit blocked for negatives;
  • Paycheck credit card: credit released for negatives ;

6) Deadline for payment

Some card options offer grace and extended deadlines.

  • Conventional credit card : on average 30-35 days;
  • Paycheck credit card: can arrive up to 50 days (variable condition depending on the policy of each bank or card issuer);

It is important to remember that whenever a debt is not repaid in the original term, it is subject to interest.

7) Installment option

In addition to the payment installments, the invoice can also be split again, in both cases. The conditions may vary depending on the credit policy of each institution.

  • Conventional credit card: payment of invoice can be paid in up to 48 months;
  • Paycheck credit card: payment of the invoice can be paid in up to 72 months;

The longer the payment term, the higher the interest rate.

8) Annuity

Annuity is usually a common rate of credit cards. However, this rule changes with the consigned:

  • Conventional credit card: charged, in most cases;
  • Paycheck credit card: exempt, in most cases;

9) International card issuance

Seen to an advantage, international flag cards often make life easier for travelers.

  • Conventional credit card: yes;
  • Paycheck credit card: yes;

10) Cash withdrawals

In some cases, the credit card limit can also be used for cash withdrawals.

  • Conventional credit card: yes;
  • Paycheck credit card: yes. Withdraw up to 96% of the limit granted, depending on the bank.

But in the end, which one is better? The answer to this question will depend on your need. However, the two types of credit have advantages and disadvantages, which should be evaluated.

Advantages and disadvantages


Like any loan, the consigned card has advantages and disadvantages. Understand what they are.


  • Minimum amount of the installment is deducted directly from the salary or benefit;
  • Without consultation with SPC / Serasa;
  • Rates starting at 3.00% am
  • Accepted in several establishments (depending on the flag of the card);
  • Cash withdrawals (variable condition depending on the policy of each bank or card issuer);
  • Loyalty program (variable condition depending on the policy of each bank or card issuer).


  • The minimum payment of the invoice is automatically deducted from the salary or benefit (it is not possible to cancel the debit);
  • Interest greater than the payroll loan;
  • Some carriers may charge card issuance fee;
  • Higher debt risk if not controlled.

Another important assessment to be made by those who are looking for credit and money in the short term is the comparison between credit card and payroll loan.

What is the difference between the Consigned Credit Card for the Consigned Loan?


Although they are similar in some respects, there is even a difference between the appropriations earmarked.

For example: with the card, part of the credit available is for the payment of the invoice. Already in the consigned loan the money can be used in the way that the consumer prefers.

In practical terms, we can say that because of this difference, in the loan the amount granted is higher. The installments can be worth up to 30% of your income or monthly benefit.

And is it possible to use both at the same time?

The answer is yes. Provided the consignable margin does not exceed 35% of the ceiling allowed . Respecting, in this way, the 5% for the consigned card, which is the maximum limit for expenses and withdrawals.

So is it worth making the paycheck credit card?

This card is an interesting option compared to ordinary card and other credit lines. One of the reasons, as already mentioned, is that the other modalities present higher interest rates.

But it is important to remember that even if interest rates are lower, any credit should be used consciously.

Thus, using the consigned card in cases of real necessity, it is possible to have access to all the benefits, without harming the budget.

Want to make a paycheck credit card?

Want to make a paycheck credit card?