Olé payroll credit card: advantages and application

The Olé Consignado credit card stands out for being a bureaucracy-free, cost-effective alternative and for offering other benefits to customers.

Do you know the Olé credit card? Do you know what the advantages and benefits are?

+ Request the Olé payroll card directly through the website here

What is Olé consignado?

In February 2015, as a result of a mutual development between Banco Bonsucesso and Santander, Banco Bonsucesso Consignado was born.

Then, in April 2016, this bank changed its name and brand to Olé Consigned.

Thus, the Olé consignado institution has the task of working increasingly to be an option for Brazilians who need credit.

This institution is known for being a brand that generates joy, vibrancy, and the ability that Brazilians have to overcome difficulties and succeed in life.

In fact, while it brings vibrations, it also has an entrepreneurial spirit marked in its history, corroborated by Bonsucesso Consignado and the strength of Santander.

This allows the institution to position itself in the market as an important player and provide the best payroll loan services.

The Olé Consignado institution was born with a credit portfolio of 44 billion, 1.8 million customers, more than 1,000 authorized correspondents throughout Brazil and its own network of 39 stores.

Thus, the impressive numbers achieved in the first year of operation in the market demonstrate Olé's impressive growth potential.

Finally, it aims to increase its share of the payroll loan sector fivefold by up to five, thus reaching a market share of 10%. 

What is a payroll card?

At first, a payroll credit card It is a means that offers some interesting advantages, compared to common cards.

This type of card is generally intended for INSS retirees and pensioners, as well as public servants.

This card has the minimum invoice amount deducted directly from the person's payroll, benefit or paycheck.

As a result, this practice ends up reducing the risk of default and also allows the cardholder to obtain lower interest rates and longer terms for making installment payments.

Furthermore, there is no annual fee for a payroll card and no credit bureau inquiries are required, making it much easier for people with bad credit to get approved.

Related topics:

+Nubank payroll loan: how it works and how to apply

+Personal loan vs. payroll loan: discover the differences

+What is a payroll loan and what is its margin?

What are the differences of this card?

See the differences of Olé credit card:

• There are no costs for issuing the card, or maintenance, and there is no annual fee;
• Fees four times lower, that is, much lower than a conventional card;
• International card, you can use Olé for purchases abroad, in more than 26 million establishments in Brazil and abroad;
• With 5% of extra margin, it will not compromise the payroll loan;
• Monitoring limits, checking invoices and other services, right through the app Olé;
• Apply for a card without leaving your home, bringing convenience and practicality, in a completely digital process;
• You can withdraw your credit limit up to 90% of the total and use it as you prefer.

Olé credit card: fees and APR

See below the fees and average CET (Total Effective Cost) for the card divided by agreement category:

• INSS, rate of 3.0% per month and CET of 3.16% per month and 45% per year;
• Federal, rate of 3.35% per month and CET of 3.52% per month and 51.54% per year;
• State, the average rate is 4.50% per month and CET of 4.71% per month and 73.70 per year;
• Municipal, average monthly rate of 4.00% and CET of 4.19% per month, with 63.72% per year.

Olé payroll credit card: what are the advantages?

The benefits you'll get with your Olé card are concentrated in several exclusive and privileged discounts for Olé customers. See them below:

• 10% discount at Netshoes;
• 15% discount at Zattini;

• 15% special discounts at Esfera;
• Shoestock 15% discount;
• 10% discount at Movida;
• From 5 to 15% discount in Vivara stores;
• 10% discount at Viva Salute;
• 15% to discover in Renner stores;
• 20% discount at Studio Geek.

Who can get the Olé consigned card?

In principle, the Olé credit card is intended for the following situations, in which you must fit;

1. Federal public servant;
2. INSS pensioners;
3. State public servant;
4. Retirees;
5. Municipal public servant.

In this sense, to hire the card you have to check whether your agreement is covered by Olé during the simulation.

The agreement is a partnership between the public agency and Olé Consignado, to provide credit services.

How to apply?

In short, hiring this card is very simple, through your device access the Olé website and start a simulation.

In other words, provide all the requested data and complete the card request.

Olé will then analyze your data and get back to you. 

If you want to make the request through the app, just click on “I want to simulate” and start the simulation by filling in all the information, and once you complete the contract, Olé will analyze and respond to you.

Finally, if you want to track your request, simply access the website or application and enter your CPF and registered password created in your request.

What does a person need to have on hand to request the Olé consigned card?

As is usually the case, the person must have personal documents on hand such as: ID or driver's license, CPF, proof of residence, pay slip and will need a selfie of their face as a photo.

However, if you are retired or a pensioner of the INSS, you will need some information about your benefit.

For example: benefit number, in the case of a public employee, he will have to provide his registration number and salary amount.