In addition to the more conventional uses such as installment purchases and cash withdrawals, it is also possible to pay credit card bills. Find out now what types of accounts can be paid with the payroll credit card.
Accounts that can be paid by Payroll Credit Card
Key accounts that can be paid by payroll-deductible credit card include:
Billets or barcode accounts
Generally, accounts in the name of an individual and the same cardholder can be settled by this means. Even if the ticket has not been received, for example, payment can still be made with the bar code. Besides allowing the payment of those accounts that can be paid with the payroll credit card, in some banks it is still possible to install this payment.
Installment conditions may vary depending on the total debt amount, the outstanding balance and the payroll card limit. It is therefore advisable to check the conditions first to see if they are really worthwhile.
Other Bank Credit Cards Invoice
If the cardholder has more than one credit card, they can pay with the payroll card. The main rule is that the account cannot be from the same bank.
Thus, those who have a payroll-deductible BMG card can pay off an Itaú credit card bill, for example. The caution in this case is to pay attention to the use of both cards simultaneously. Remember that despite being different credit limits, any debt will compromise personal or family monthly income. See now which accounts cannot be settled by this payment method and understand why.
Accounts that CANNOT be paid by Payroll Credit Card
Some accounts cannot be settled by card. Common examples are:
Same Bank Credit Card Invoice
The analysis for clearing a financial institution’s global credit limit considers several factors. One person may have more than one card in the same bank, however, only one payroll card.
And the emission of one is not conditioned to the other. Also, the payroll card only serves some audiences, as determined by law. Also read: How Does Payroll Credit Card Work? The use of the payroll card to pay a bill card from the same bank is prohibited, simply because this operation is considered a “debt refinancing”.
Billets issued in the name of legal entity
Personal and business accounts should be handled in isolation. Except, of course, if a partner has a corporate credit card. However, the payroll-deductible credit card is only issued to individuals, the recommendation is to manage these expenses and payments individually. Therefore, its use is not permitted for this purpose.
How to pay bills with Payroll Card?
Credit card bills are usually paid via internet banking or a bank application. Thus, only those people who have access to the digital account of the bank where it is an account holder can authorize this transaction.
Given this, the step by step may vary from bank to bank. However, the user should look for the “payments” option, enter the bar code of the invoice or invoice and choose the “credit card” payment option. Then simply consult the payment terms and authorize it. If the card has already been used in any online transaction, this information may be filled in automatically. Otherwise, the cardholder must fill in the fields with the card number, month and year of validity and the security code.
If the alternative to paying by credit card is not available, you will need to contact your account manager. Although less common, some banks also offer the option to pay by phone. To do this, just follow the step by step informed in the call center.
Advantages and disadvantages of paying card bills
But is it really worth paying off credit card bills?
Good question And a good suggestion is always to put this account on the tip of the pencil, for a better evaluation. Understand what are the main advantages and disadvantages of its use.
Paying off payroll card debts can be an alternative for those who are out of cash. Credit is easy and available for when the holder wishes, but it will also require certain care.
Another advantage besides the easy credit is the possibility of paying the bill only with the bar code. Thus, depending on the type of account there is no risk of having the service interrupted or canceled, due to the receipt of the ticket.
Accounts that can be paid with the payroll credit card should be guaranteed. Just remember that payment from any account will consume the available credit limit. In addition, banks may charge additional fees and charges (interest and IOF) on each transaction. As the credit card is considered a personal loan, when using it to repay another debt, what you do is only postpone your payment, as explained by financial advisor Haroldo Pereira:
Remember that one day the bill card that was used for this payment will also arrive. Therefore it is very important to have a financial planning Another important point is that credit card billing interest is higher than a bill for another type of arrears account. And once again the recommendation is always to assess each situation and need to see if it is really worth it.
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