How to cancel the Payroll Credit Card?
Are You Retired, Pensioner or Civil Servant? Need to cancel payroll credit card and don’t know how? Find out if this is really the best way out of your financial relief and what to evaluate before applying for a permanent card cancellation so you don’t run out of credit.
What do you need to check before canceling your Payroll Card?
Requesting card cancellation is very easy, as is your membership. But before you decide to cancel the credit card on your behalf, make sure that:
1 – The outstanding balance was fully paid
It is not possible to cancel the credit card without first having paid off the entire balance due. It’s simple, if you still have an open debt, you’ll need to pay off that amount.
The outstanding balance can be paid from the monthly invoice (slip). Thus, in addition to the automatic monthly discount, which is limited to 5% of the payable margin, the holder can choose to pay the additional amount and settle the debt at one go. Otherwise, the remaining balance will be added to next month’s invoice until its full settlement.
To have the amount of balance due you need to contact the bank directly.
2 – There is no new installment debt
If the purpose is to settle the outstanding balance, the payroll credit card can only be canceled if there is no new installment payment, ie a new installment purchase paid with the card.
It can often happen that a purchase has been made and not considered. As long as this value is not paid, cancellation cannot be requested. An alternative is to negotiate the open value with the lender bank.
3 – No cash withdrawals have been made
Similarly, the card can only be canceled if no cash withdrawal payment is pending. Regardless of the amount of the withdrawal, it must also be paid.
Just remember that the withdrawal compromises the available credit limit, which in turn is understood as a new debt that must be paid in the conventional (and on time) or negotiated. Now, if the card is already settled and not used again until the date of cancellation, simply contact the issuing bank. The cardholder should have his own card and also confirm some information for security reasons.
What is required to cancel the Payroll Credit Card?
The cancellation of the payroll credit card is final. That is, it is not possible to issue a new card after its cancellation. This is because the consignable margin of 5% is for exclusive use and can only be used once, on card membership.
Federal Public Servers (SIAPE) issue the consignee authorization that can only be used once as well. It is precisely for this reason that canceling your credit card should be a very well thought out decision. As well as the use of credit itself, to avoid debt. It is also worth remembering that the payroll credit card is generally exempt from the annual fee and other monthly fees, failing to use it the holder is already free of payment of any invoice.
The payroll credit card can also be considered as a financial reserve
Therefore, when in doubt, it is recommended to block its use. Thus, when necessary, the pre-approved credit limit can be reused if it is re-approved and released. To block the card you do not need to inform the bank. Just don’t use it anymore for installment purchases or cash withdrawals. This way, the credit limit will be reserved. . That is, only available when the holder needs it. If the problem is high debts, prioritize card use only in cases of real need. This will prevent unwanted debt and will leave and compromise the monthly income. See now the top questions about canceling your payroll credit card.
5 Common Questions About Payroll Credit Card Cancellation
Enjoy reading these Q&A about canceling your credit card or not, how to cancel, how to recover, and more.
1 – Can the canceled Payroll Card be reactivated?
No. Only if it is locked for use. If it has already been canceled, you must confirm directly with the bank if it can be reactivated and under what conditions. As a rule, the canceled card cannot usually be reissued.
2 – Can the 5% margin be used again when ordering a new card?
No. Because the margin card is exclusive and linked to a single payroll-deductible credit card, you cannot apply for a new card.
Payroll card endorsement is performed in the name of a single financial institution, other than the payroll loan.
3 – If I cancel my card, will the additional card also be canceled?
Yes. In cases where the cardholder has an additional card, all will be canceled. Therefore, also make sure that there are no debts on this card before requesting cancellation.
4 – By blocking the loan benefit, will the card also be blocked?
INSS beneficiaries may apply to block their benefit for new loans. In this case, the payroll credit card will also be blocked, meaning it cannot be requested. The unlocking will occur when the Retiree or Pensioner makes the release with the INSS.
5 – If the full margin is not used, can the card be canceled?
No, the 5% margin takes into account all monthly expenses. Then, if the amount spent in the month is lower, the holder will still have the margin difference for new installments or supplementary withdrawal. If used in full the margin cannot be increased. That is, it will always represent 5% of the holder’s net personal income.
If you are considering canceling your payroll credit card, reevaluate. This will not always be the best solution to your financial problems. Better to better manage and maintain your credit than to run out of credit when you really need it.
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