The Best Credit Cards for People Facing Financial Hardship

Just because you have a negative credit history doesn’t mean you have to settle for low credit limits. Here are five card options that offer substantial limits, even for those with credit issues, with some reaching R$ 10,000 or more.

1: Nubank Secured Card – Up to R$ 50,000 Limit

Nubank’s secured card allows you to use your deposit as your credit limit, revolutionizing access to credit.

How Nubank Secured Works:

• Control Your Limit: Deposit from R$ 1,000 to R$ 50,000

• Guaranteed Approval: No SPC check required

• Earning Potential: Your deposit can earn interest

• Full Card Benefits: Functions like a regular credit card

Nubank Secured Advantages:

• Immediate High Limit: Deposit R$ 10,000 = R$ 10,000 limit

• Build Your Credit History: Positive payment reports

• Path to Regular Card: Opportunity to upgrade later

• Bank Security: Your money ensures payment

Real Examples:

• Entrepreneur: Bad credit, deposited R$ 20,000

• Freelancer: R$ 5,000 deposit = R$ 5,000 limit

• Pensioner: Used R$ 15,000 in savings for limit

• Timeline: 6 months for potential upgrade

2: Carrefour Card – Retail Advantage

Major retailers often approve higher limits based on shopping history, ignoring negative credit records.

Retail Card Advantages:

• Alternative Assessment: Shopping behavior takes precedence

• Initial Limits: Commonly R$ 1,000 to R$ 5,000

• Quick Limit Growth: Can surpass R$ 10,000

• Visa Conversion: Store card can become a full Visa

Carrefour Strategy:

• Build Purchase History: Start with cash purchases

• Use the Carrefour App: Increases approval chances

• In-Store Applications: Higher success rate than online

• Holiday Promotions: More lenient criteria

Success Stories:

• Frequent Shopper: R$ 3,000 limit despite bad credit

• Promotional Period: R$ 5,000 limit granted

• Long-Term Use: Achieved R$ 12,000 after one year

3: Banco Pan Card for Pensioners – Assured Approval

Banco Pan focuses on retirees and pensioners, providing higher limits regardless of credit status.

Banco Pan Special Features:

• Pension Guarantee: Secured by INSS payments

• High Limits: R$ 3,000 to R$ 15,000

• Age Inclusivity: Welcomes applicants over 60

• Income Focused: Negative status is overlooked

Banco Pan Requirements:

• Income Proof: INSS statement or pension documentation

• Stable Income: Must have received benefits for 6+ months

• Consigned Option: Direct payment deduction available

• Fast Approval: Typically within 48 hours

Typical Limits:

• Minimum Pension: R$ 3,000-5,000 limit

• Average Retiree: R$ 7,000-10,000

• Higher Benefits: R$ 15,000+ attainable

4: Inter Credit Builder – Prepaid to Credit

Inter Bank’s system enables users to build credit limits over time by starting with a prepaid card.

Inter Bank Evolution Path:

• Begin with Prepaid: No credit check needed

• Build Usage History: 3-6 months of prepaid use

• Algorithmic Offers: Credit invitations based on usage

• Growing Limits: R$ 500 to R$ 8,000+

Maximizing Inter Bank:

• Frequent Loading: Add R$ 2,000+ monthly

• Regular Bill Payments: Demonstrates financial responsibility

• Daily Transactions: Maintain consistent usage

• Diverse Spending: Helps build a positive profile

Real Progressions:

• Months 1-3: Prepaid usage only

• Month 4: Offered R$ 1,000 credit

• Month 8: Increased to R$ 3,500

• Year 1: Achieved R$ 5,000-8,000

5: PicPay Credit Card – Bill Payment Focus

PicPay leverages your bill payment history to provide access to credit with surprising limits.

PicPay Unique Model:

• Payment History Utilization: Based on utility payments

• No SPC Check: Uses internal scoring only

• Quick Limits: R$ 1,000 to R$ 5,000

• Cashback Benefits: 5% on bill payments

Building High Limits:

• Pay All Bills: Utilities, phone, internet

• Monthly Volume: R$ 2,000+ in bills

• Perfect Payment Record: Essential for growth

• Time Commitment: 6 months for higher limits

Typical Journey:

• Active User: 6 months of consistent payments

• First Offer: R$ 1,500 credit line

• Continued Usage: R$ 3,000 at month 9

• Maximum Potential: R$ 5,000-7,000 achievable

Strategies for Individuals with Credit Challenges

Immediate Options:

• Secured Cards: The fastest way to higher limits

• Retail Cards: Utilize shopping loyalty

• Pension-Based Cards: If eligible for benefits

• Investment Backing: Use savings for guarantees

Building Over Time:

• Start Small: Accept initial offers

• Perfect Payment History: Crucial for future growth

• Diversify Applications: Explore multiple options

• Keep Documentation: Maintain payment records

Alternative Solutions

Creative Approaches:

• Family Addition: Become an authorized user on a relative’s card

• Business Cards: Sometimes easier with a CNPJ

• Prepaid Loading: High volumes can build trust

• Payment Apps: Help build alternative credit profiles

What to Avoid:

• Loan Sharks: High-interest risks

• False Promises: Beware of unrealistic approvals

• Multiple Applications: Can harm credit further

• Cash Advances: Often worsen financial situations

Reality Check

Understanding “High Limit”:

• Credit Challenges: R$ 5,000 is often considered high for those with issues

• Time for Improvement: Expect 6-12 months for growth

• Secured Cards: Offer the quickest path but require initial capital

• Patience is Key: Gradual growth is sustainable

Conclusion

While high limits can be elusive for those with negative credit histories, these five options provide real opportunities for accessing R$ 5,000 or more in credit. By leveraging secured deposits, retail relationships, or creative credit paths, individuals can work towards financial recovery with the right strategies and persistence. Choose the method that aligns with your current situation and focus on building a solid credit future.