Many people still don't know, but lately, the Nubank made available in its application a new function that guarantees to help people in case of any kind of emergency. However, this new feature has generated quite a bit of controversy among consumers. This is a mechanism that allows the user to carry out transactions that exceed the limit available on their credit card.
Therefore, if users want to make a purchase that is greater than their available limit, it will be possible, in a much easier way with this new function. Follow the rest of the text and learn more.
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How does this credit limit work at Nubank?
Before, in the same situation as the one described in the introduction, the person would have to request a limit increase from Nubank and wait for approval. This takes much longer and there is still the risk of not having the limit approved. By doing so, the person was left without buying what he wanted.
In most institutions that have this service, fees are charged to customers to release the limit, while Nubank says that this functionality will be free.
In addition, to get this credit, the person will need to undergo a type of evaluation, which there is no guarantee that it will be approved. In this test, factors will be considered to determine whether additional credit can be given to the user. Therefore, the request can also be denied.
This novelty was initially controversial among people, as people believed that Nubank could release more credit, instead of carrying out an emergency assessment to grant an extra limit just in that situation specific.
This function, which is called “Purchases Above the Limit”, is available in the company's application, in the card menu. Therefore, if someone needs to carry out a transaction greater than their limit, they can simply request the increase and carry out the evaluation.
Nubank also reported that the novelty is being gradually released to its customers.