Don’t take the minimum income required by the bank so seriously
The most exclusive cards on the market require an income of R$20,000, which can reach up to R$30,000, in addition to bank investments and other requirements that are unrealistic for most people. Does this mean that all people who use such cards have this income? The answer is no. A person can have a proven super income and have the card denied and another, who has a lower income, can have the card approved. But why does this happen?
Instead of considering the client’s income as a decisive factor in issuing cards, banks are giving greater importance to the client’s financial capacity to honor their payments. One of the reasons would be the increasing amount of informal activities carried out by Brazilians. But how do banks analyze a customer’s risk beyond their proven income?
These companies cross data on your financial transactions and level of indebtedness in different databases and classify you with a risk score (the so-called credit score ) for the bank. The higher your ranking on these indicators, the better your chances of having your proposal approved. In other words, the client’s income is one of the different criteria used by the bank, but it is not decisive.
Each one calculates a different score according to the data they have. So, it is normal that there is a difference in the score presented in each portal. It is important to always keep an eye out, as any variation can impact when you apply for credit from an institution. Learn more about bad credit score .
Don’t be loyal to just one bank
I know this tip seems to conflict with the first one, but calm down and I’ll explain. Each bank has a portfolio of credit cards and uses its own criteria so that its customers reach the best ones. If you try on just one bank, you only get one shot at success. Now if you are a customer of more than one bank, your chances increase.
In addition, institutions use different models for assessing customers, and may be more or less aggressive in granting credit. And if you have more than one card and know how to make the most of what each one can offer you, you only have to win.
Currently, I have an account with four large traditional banks (and yes, Banco do Brasil, the old war bank, remains on the list) and I use the best services of each one. And don’t think that half of my salary is used to pay for banking services, as the types of accounts I use are all exempt from this charge. It is easier for you to try to negotiate a high-income version card in a bank when you have already won that same version in another bank. Your manager will want to offer you the same benefits as the competitor so as not to lose you.
There are also digital accounts that have arrived in droves in recent years, most promising income greater than savings, simplicity and transparency. This type of competition is important to encourage traditional banks to offer more affordable packages.
Use a credit card limit as proof of income
In the past, the documents most commonly requested by banks to approve cards were payslips, paychecks and income tax returns. However, most of them now also accept another credit card statement as proof of income.
In such cases, the total amount of the limit whose card you present the invoice is generally considered as your monthly income. That is, having a bulky limit on a card can open doors for you to get a second one. And so on… I myself have managed to issue more than one card using an invoice with a considerable limit as proof. Of course, even so, the bank will consult your CPF in the square and your movements, but it is still a shortcut.
Remember that the card can be requested not only through the bank’s website, but also in person with your account manager (see the importance of the first tip here). A face-to-face conversation with your manager can bring you good results if you manage to express yourself and argue in such a way as to convince him that that product is within your profile.
It is worth remembering that there are already cards on the market being issued without any proof of income (upon bank analysis, of course).
Don’t be afraid of high annual fees on credit cards
After so much effort to finally get that dreamy and desired card, the sad part of the story arrives: the dreaded ANNUITY – it brought tears to my eyes just thinking about it.
We know from the ranking that the more benefits offered by the card, the higher the annual fee, which can reach R$1,500 (in the case of Porto Seguro Visa Infinite or Mastercard Black). But and now? Have we reached the finish line and are we going to give up our prize? None of that! Some banks are adopting transparent policies for exemption or discount on the annuity of our beloved cards. One of the most common policies is for the bank to establish a minimum amount to be spent on the card per month so that the customer is free or gets a discount on the annuity.
In the case of the card I mentioned, from Porto Seguro, if you spend R$ 15 thousand reais per month on the card, you will be exempt from the annuity. Okay, end of story. But then you can say.
If you still can’t exempt your annuity, don’t worry, there’s still hope. We have a post with tips for negotiating your card’s annual fee . It takes patience and persistence to reach the best negotiation possible. I myself am not paying the annual fee for any of the cards that I have active at the moment, and three of them are in the TOP 15 of the Best Destinations ranking.
In addition to these tips, banks are constantly offering promotions with annuity waiver in the first few years, accumulation of double points or bonus points when hiring a new card.
