The BMG Card is a financial product exclusively for public servants, retirees and INSS pensioners. Its interest rates are much lower than those of regular cards, and you can get other benefits.
As the name suggests, it is issued by Banco BMG, a well-known Brazilian financial institution. The card is Mastercard-branded and all its signatories can make purchases in Brazil and abroad.
One positive aspect of this financial solution is that it is linked to a dedicated app so that cardholders can easily manage their expenses. To learn more about the card and how to use it, keep reading.
BMG Card: how it works
In short, the BMG card works like a traditional credit card, but it has a much fairer interest rate. With the Mastercard brand, you can make purchases in cash or in installments in more than 30 million stores.
It is important to clarify that this card can only be purchased by Banco BMG account holders, and the available limit is up to 1.6 times your benefits. The minimum payment for expenses incurred will be deducted from your payroll each month.
The card also features contactless technology, so that its holder can make approximate payments quickly and easily. To do this, the agency simply needs to have properly compatible machines.
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Advantages
Although it is a basic financial product, it can be very interesting for everyday purchases. Anyone who chooses to purchase it will be able to count on several advantages, such as:
- exemption from annual fees;
- international acceptance;
- the possibility of making emergency withdrawals;
- by contactless payment;
- You can customize your card according to your team;
- And others.
→ Apply for a high limit credit card! Click here to see cards with no minimum income requirement!
The BMG card is classified as a basic card, however, the advantages offered are considered enormous, especially considering that it is a payroll discount product and has a completely free annual fee.
Surprise Mastercard
Mastercard Surpreenda, Mastercard's benefits program, is free for all BMG cardholders. This way, you can accumulate 1 point for each purchase, regardless of its value.
These then accumulate and can later be redeemed for a range of benefits. The more points you accumulate, the greater your chances of exchanging them for special offers that will surprise you.
To participate, simply access the official Mastercard Surpreenda website and briefly register your card. It will take a while and your purchases will start generating points that can be managed on the website itself.
Is it worth getting a BMG card?
The payroll card is the most favorable on the market, as the interest rate is much fairer, at just 2.70% per month. A regular credit card has an annual interest rate of around 298.6%.
Although it is basic, there are good reasons to purchase it, and one of the main ones has to do with the free annual fee. In addition, customers will be able to purchase nationally and internationally at millions of institutions around the world.
By carefully analyzing everything this financial product has to offer, it can be said that it is worth it and should be formally considered by everyone who wants to avoid abusive interest and annual fees.
→ Apply for a high-value credit card! Click here to see, no minimum income requirement!
About the issuing bank
As highlighted several times in this article, the issuer of the BMG card is Banco BMG. The financial institution was founded in Belo Horizonte in 1930 and is currently headquartered in the city of São Paulo.
The company's main focus is to promote financial solutions in Brazil, being a pioneer in offering payroll loans, democratizing access to credit with the fairest interest rates on the financial market.
The bank gained fame soon after the launch of its digital account, which serves thousands of consumers in several Brazilian states. Banco BMG is also known for having the largest network of banking correspondents in the country.
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