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In recent days, the Nubank is shaking up the financial market when it comes to cards. This is because the fintech has announced a new card for the unbanked and those with bad credit. The new feature also allows customers to add a limit and choose how much they want to spend.
In addition to the excitement of those who were waiting for this moment, the information made available about the card raised several questions. The biggest question is whether the card is prepaid, debit or another type. With that, Nubank had to clarify the criteria for the new tool.
New Nubank card is not prepaid
The new card works as follows: the customer deposits an amount into the tool to use as a limit for installment purchases or subscriptions, without the need to make other top-ups. The new functionality is similar to the CDB + Credit Limit, offered by Banco Inter. Therefore, it is not a prepaid card.
The digital bank offers a card with an initial limit of R$1,000, which will change according to the amount of the deposit made by the user, to be used for credit purchases. If the customer wants to spend R$1,000, an equivalent deposit is required in the Nubank account, for example.
Regarding the difference between the prepaid card and the new Nubank card, it is the possibility of installments during transactions, in addition to the withdrawal of the previously deposited amount, which was not used. Therefore, the amount included in the tool works as a limit instead of a balance, similar to prepaid cards.
According to Cristina Junqueira, the co-founder of the fintech, the card will allow even those people who have a low score or bad credit to have access to credit again, in a conscious way and be able to increase their debt in the market.
“We want to give these customers who are not currently fully integrated into the financial system the chance to have a payment experience in installments with less risk of debt,” explains Cristina. “After a few invoices and knowing more about this customer’s credit habits, we will be able to offer pre-approved credit limits until they reach an amount that meets their needs.”
