Today, there are many credit card options. The means of payment is also increasingly accessible, with broadcasters focusing on digitizing processes and breaking down barriers to entry. One of the examples of this new wave is Banco Digio. But is the Digio card any good ?
We’ll show you details of how the Digio credit card works, with its advantages and disadvantages. We’ll also see who this method of payment is worth. Come on?
Contents [ hide ]
- 1What is the Digio Card and how does it work?
- 2What are the advantages?
- 1There is no fee and annuity charge
- 224-hour chat
- 3Purchase notices
- 4Specific benefits
- 5International Visa Flag
- 3What are the disadvantages?
- 1Delivery time
- 2Does not offer miles or points
- 3There is no revolving credit
- 4Does not have certain benefits of common cards
- 4Is the Digio card good?
What is the Digio card and how does it work?
Digio is one of the participants in the wave of neobanks . As a digital bank , it seeks to facilitate the population’s access to banking services and does not require physical branches or paper contracts. Digio emerged from Banco CBSS, managed by the holding company Elopar (which has shareholders such as Banco do Brasil and Bradesco).
The launch of the Digio credit card took place in 2016 . To request it, the user must fill in their data and request an invitation through the website . Then, it undergoes a registration and credit analysis that can take up to 15 days. Digio does not require proof of income, but sets a limit, which can then be increased.
The answer comes by email, as well as the activation code to start using the Digio mobile app. The card arrives at the registered address within another 15 days and can be activated by the app (Android or iOS).
What are the advantages?
In large part, the benefits of Digio are those seen in other digital banks, such as the exemption from some payments. This credit card, however, also has exclusive advantages.
There are no fees and annual fees
The card is exempt from membership fees, issuance of the first card and annuity , monthly fee and revolving interest. In this way, users see immediate savings over traditional banks.
Digio monetizes itself through fees received from merchants with each purchase. Although it does not cover revolving interest, it earns through withdrawal fees and other interest embedded in financing and installment payments. Even so, late fees are often lower than those of mature financial institutions.
24 hour chat
Digio operates completely digitally through a smartphone app. The user checks invoices, activates or deactivates their card and talks to attendants at any time through the app itself. There are no fixed times or lines for this service, as would happen in a physical agency.
Purchase notices
Digio also allows you to control your daily expenses through its app. Neobank sends reminders about the due date of invoices and allows access to duplicates. It also lets you check the statement of purchases and sends an SMS to the holder for each credit card transaction.
Specific benefits
Digio has a feature called digioCash. It allows you to transfer up to 40% of the card limit to the digital account . This advance falls within one business day and can be paid in 12 installments with interest, as well as the card bill.
Another benefit is the digioStore. The exclusive channel for digital bank customers allows you to buy credits from companies like Google Play and Uber. Another feature is the indication of friends . With each approval, the user can earn R$15 .
International Visa Flag
Digio is an international card under the Visa brand. In addition to enabling purchases abroad and in more than 24 million stores in total, it gives access to the acquirer’s benefits and promotions. One example is Vai de Visa, a program that offers discounts and rewards.
What are the disadvantages?
Most of Digio’s disadvantages are also common to other digital banks, especially when we talk about neobanks that were recently released. The delay in delivery and the lack of a frequent flyer program are examples.
Delivery time
Delivery time is a disadvantage of Digio. As we wrote above, there are 15 days for approval and another 15 days for sending the card. Therefore, the entire process can take about a month.
Does not offer miles or points
Digio does not have its own miles or points program. It currently offers a partnership with the Livelo points club. The user accumulates points and exchanges for products or travel discounts.
There is no revolving credit
As we also mentioned, Digio does not offer revolving credit, which is usually granted automatically when there is no balance on the account. The only emergency loans available are the advance of the card limit and the payment of bills in installments. In view of the high interest charged on the rotary , however, some see it as an advantage not to allow only a minimum to be paid on invoices.
Does not have certain benefits of regular cards
Finally, Digio lacks some of the advantages offered by traditional credit cards. Some examples are car rentals and health and travel insurance .
Is the Digio card good?
The Digio is especially worthwhile for those who value a completely digital experience , especially the smartphone. Another attractive point is to obtain an internationally valid card without having to prove income and pay an annual fee . Finally, having Banco do Brasil and Bradesco behind can provide extra security for those who value the history of financial institutions.
But there are relevant disadvantages, such as not being able to take advantage of our own frequent flyer programs. Another problem is the lack of services associated with credit cards, such as financial applications or insurance . Until October 14, 2020, the digital account yields 130% of the CDI . Those who want more income options on their equity should look for another financial institution, at least for the time being.
Digio is a popular credit card, especially among those interested in the neobank movement. The payment method has advantages and disadvantages common to digital banking products. Thus, the Digio card is good for those looking for a completely virtual experience or saving money in exchange for some income. Now that you know Digio, learn more about what a payment account is !
