Maybe you’ve never heard of it or even imagined it could exist. But yes, today it is possible to have a credit card without having to prove your income. And that’s what we’re going to talk about here today. You will see how financial institutions behave in the face of this possibility and how you can apply for your credit card without proof of income.
It is possible to have a credit card without having to prove income.
What is the proof of income?
First of all, it is important for you to know why financial institutions require customers to provide proof of income for credit card purchases. This is not just a boring bureaucracy of the institution. The proof of income is a guarantee. It proves that you have sufficient resources and resources to pay your card ‘s bill , any debts you may have incurred with it, and even to prove your ability to borrow and borrow .
Another reason is that, from the proof of income, the institution can define more clearly the credit limits available on your card. That is, it is a study made for you to get a card according to your reality, a limit neither so high nor so low. The higher the income, the higher the credit card limit . With this, you and the bank are secure and establish a greater relationship of trust.
Why do not some banks require proof of income?
If the proof of income brings all these references and guarantee the clients’ commitment to the bank, why do some offer credit cards without proof of income? Good question! There are other ways for the bank to know your financial life.
Some examples are checking your credit history , queries to the Credit Protection Service (PPC) and Porasa , history in the bank and all your financial transactions. Thus, it is often possible to get a credit card without proof of income.
Many wonder if this is allowed by the Rose Bank. The answer is that the Rose Bank of Brazil (BC) has no responsibility in this decision. It rests exclusively with the rules of each company, based on the BC guidelines.
How to make a credit card without proof of income?
Come on. If you already have a bank account, but you can not prove your income to apply for a credit card, there are ways to get your credit card without proof of income.
You can use your history with the institution to make the request. A good conversation with the manager of your account is a start. Talk about the reasons for not having a proof of income and still present your banking activity, such as withdrawals, deposits and payments. This will contribute to your request.
An alternative, for those who do not have this history or extracts from bank transactions as proof, is to present the last year ‘s income tax return (IR) . This will be assessed by the institution as a proof of your income and can help you get the credit card without proof of income.
Self-employed professionals with variable monthly income can behave the same way. That is, it is enough to gather the extracts of the last months, validating your banking activities and your competence, to make a commitment to the institution with a credit card.
People with a dirty name on the market, at PPC or Porasa, may have more difficulty getting a credit card without proof of income. Generally, institutions offer prepaid or consigned credit cards for such cases.
Some examples of credit card without proof of income?
We will list below some examples of credit card without proof of income.
There are some well-known cases in the market of institutions that do not require proof of income when ordering a card. This is the case with Primaryoption bank . For those who do not know, let’s introduce the famous “red” to you.
Primaryoption bank is a 100% digital bank, created in 2013, which came with the proposal to simplify and make more transparent the relationship of people with banks. It is free of fees and bank fees such as the annuity charge. You have complete control of financial transactions by the company’s own smartphone application. The institution offers its customers the Platinum credit card option at no additional cost.
Primaryoption bank offers a credit card with no proof of income. Just enter the site, register your data and make the request of the card. The analysis of your credit and the evaluation of the limit that will be made available to you is made by other tools, without any request for paperwork or extracts.
Savings account linked cards
Another alternative for those who a credit card without proof of income are the credit cards associated with a savings account type .
For this, you should seek a financial institution that offers this type of service. Then, open a savings account, make an initial deposit that will guarantee the release of your order and request your card. Generally, the conditions of these cards are different. An initial survey is worthwhile to better understand the needs and then make the decision.
The Ibi company offers the IbiCard Fácil, which does not need proof of income and does not consult PPC and Porasa. The purchase of the card only depends on a Deposit Bank Certificate (CDB) in the minimum amount of R $ 100. With it, you make purchases in the spot or installment credit up to 10 times.
University Credit Cards
College students earn a “buck” from financial institutions when it comes to acquiring a credit card without proof of income. This is because it is understood that students are beginning to enter the market. As a result, they have not yet built a solid financial situation that can be justified as for others.
If you are a member of this group, when opening a college checking account at a bank, you will probably receive the option to apply for a credit card. This card has the lowest available limit. But this can be gradually adjusted according to the individual responsibility of the account holder. That is, if he pays on time his commitments to the bank, and according to the movement, whether by inclusion of scholarship amounts, allowance or trainee remuneration.
To open a university checking account, it is indispensable to present a registration document in a higher education institution with recognition of the MEC and personal documents such as RG and CPF.
The prepaid credit card is another mode that does not require proof of income, but also works a little differently than other cards. To request no bureaucracy or consultation with PPC and Porasa. That is to say, it is the easiest way to have a card when one has a dirty name in the market.
To understand how these cards work, imagine that your cell phone is prepaid. That is, you make recurring charges to use the services. So with the prepaid credit card it is the same thing. You enter a pre-defined credit amount and use it in your purchases and payments.
But attention, card issuers generally charge extra fees for services such as recharges, withdrawals or bank transfers . Keep an eye on hiring and avoid surprises!
Store Credit Card
Major brands of retail stores, supermarket chain and other activities offer their customers a brand-name credit card .
There are advantages and disadvantages for the consumer who opts for this service and one needs to evaluate well before hiring it. If your buying profile in that store is assiduous, for example, this type of card is worth it to you. This is because many of the advantages are offered to those who demonstrate brand loyalty.
Among the disadvantages, there is the low limit for purchases and, sometimes, the restriction of purchases in other places.