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Nubank releases limit of R$5MIL on credit cards. Find out how to use
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Nubank introduced a feature that allows you to automatically increase purchasing power. It is therefore worth highlighting that the digital bank uses a credit analysis algorithm to better adapt to each customer's profile.
Therefore, new analyzes are constantly being carried out to allow customers to increase their limits, for example.
How does the Nubank card limit work?
If the customer is eligible to receive the card, the institution first creates a forecast of that person's spending, a risk analysis, the customer's usage profile and also checks external data such as the score (score used by Serasa to indicate the probability of someone delays payments.
This is all done to set a safe initial loan amount. This way, an algorithm performs this process, analyzes all the data and defines an initial limit for each customer.
How will the card limit tool work?
Several Nubank customers are struggling to get approval for a higher limit. With this in mind, the digital bank provided a tool that reserves part or all of the account balance as a credit limit.
So, if the user needs R$ 500 for a purchase, they simply pay this amount and reserve it as credit on the card. This way, the amount is available for use in completing the transaction. Once payment has been made, the customer has the credit back and can choose to leave it as a limit, leave it in the account or withdraw it.
According to Nubank, this tool allows you to use up to R$ 5 thousand in credits in the resource. In addition, the user also has the option of making national and international purchases, in person or online.
However, it should be noted that if the customer does not pay the invoice by the due date, the bank may charge the amount to ensure that the invoice is paid. There are also additional fees, penalties and interest.
How to increase your Nubank card limit
Find out how to increase your Nubank card limit using the application below:
- Access the application;
- Tap the reservation amount as the limit;
- Choose the desired value;
- Read and accept the Terms of Use;
- Confirm the selected value with your four-digit password;
- Done.
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About the author / Tiago Menger
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