Credit Card and Special Check can be a danger for those who don't have a good financial education, but rest assured because here at Digital Seguro you stay on top of all the details on this subject.
Yes, it can be a big challenge to understand how credit card revolving interest and overdraft interest work, but nowadays we have the internet that can make all of this easier, without you having to go to the bank to ask to your account manager.
Check below everything you need to know about how credit card revolving credit and overdraft work.
Credit card revolving, overdraft and its changes
In 2019, the revolving credit card had a change of 33.5%, reaching 318.9% per year, against 285.4% in 2018. This increase made the interest rate on the revolving credit card currently one of the highest among Brazilian banks .
Regarding the minimum payment, at the end of 2019, the registered mark was 287.1%, an increase of 19.1% when compared to the 268.0% per year at the end of 2018.
Non-regular revolving interest rate – understand
This is when you haven't made the minimum invoice payment, it ended 2019 at 339.6% a year, against 297.7% a year in 2018, an increase of 41.9% in just one year.
But after all, what about the Overdraft?
Overdraft is perhaps one of the worst rates, the overdraft rate was 312.6% at the beginning of the year, however, to the surprise of many, it ended at 302.5% in December, a reduction of 10.2%. In addition, the rule created by the Central Bank at the end of November imposed a limit of 8% of interest per month on the overdraft.
Anyway, were you still in doubt about these fees and interest rates? Click here and check other exclusive materials that will certainly help you understand how these values work in practice.
