Building credit from scratch can be daunting, especially in Brazil, where the financial system may seem complex.
However, getting a credit card can be an excellent first step in establishing your credit history.
Fortunately, several banks and fintech companies offer credit cards tailored for those with no credit history.
This article will guide you through the top five recommended credit cards in Brazil for individuals starting their credit journey.
5 Recommended Credit Cards with No Credit
Nubank Mastercard
The Nubank Mastercard offers a range of features that make it an appealing choice for many users. Here’s a closer look:
Features
- No annual fee: You won’t have to worry about paying an annual fee for this card, which is a great way to save money.
- Digital banking services: Nubank provides a range of digital banking services through its app, making it easy to manage your finances from your smartphone.
- Combo card functionality: This card works both as a debit and credit card, giving you flexibility in how you make purchases.
Pros
- Low fees: Besides the lack of an annual fee, the card generally has low fees compared to other options.
- Easy application process: Applying for the Nubank Mastercard is straightforward, which simplifies the process of getting a new card.
- Comprehensive digital banking services: The digital services offered are user-friendly and efficient, ideal for managing your account online.
Cons
- No rewards program: Unlike some other credit cards, this one doesn’t offer rewards or cashback for your spending.
- Monthly fees: For some users, the monthly fees associated with the card can be relatively high, which could offset some of the benefits.
Usage tips
The Nubank Mastercard is particularly useful for everyday purchases and online transactions.
Its intuitive mobile app makes it a good fit for those who are comfortable with digital banking.
To make the most of this card, use it regularly to build your credit score, but be mindful of any fees that might apply.
RappiCard
The RappiCard is designed to offer cashback rewards but comes with certain trade-offs.
Here’s a detailed look at its features, pros, cons, and tips for using it effectively:
Features
- 1% cashback on all purchases: You earn 1% cashback on every purchase, which means you get a small percentage of your spending back as a reward.
- No annual fee: You won’t have to pay an annual fee, which can be a significant cost-saving feature.
- High monthly fee: While there’s no annual fee, the card does come with a high monthly fee, which could impact your overall savings.
Pros
- High cashback rate: The 1% cashback rate is relatively high, making it a good option if you can leverage it with significant spending.
- Simple application process: Applying for the RappiCard is straightforward and user-friendly, making it easy to get started.
Cons
- High monthly fee: The high monthly fee is a notable downside, which could diminish the benefits of the cashback if not managed properly.
- Requires significant spending: To fully benefit from the 1% cashback, you need to spend a significant amount each month.
Usage tips
The RappiCard is ideal for frequent shoppers who can make the most of the 1% cashback on their purchases.
To get the best value from this card, ensure that your spending is high enough to cover the monthly fee and still enjoy the cashback rewards.
It’s particularly useful if you frequently shop through Rappi or other partnered merchants, where the cashback can add up quickly.
Inter Mastercard
The Inter Mastercard offers a range of features aimed at providing a practical and low-cost banking solution.
Here’s a detailed overview of its features, pros, cons, and usage tips:
Features
- No annual fee: You don’t have to pay an annual fee for this card, which helps save money.
- Digital banking services: It comes with comprehensive digital banking services, allowing you to manage your finances easily through a mobile app.
- Combo card functionality: This card functions as both a debit and credit card, giving you flexibility in how you use it.
Pros
- Low fees: The absence of an annual fee and generally low fees make this card cost-effective.
- Combo card option: The dual functionality as both a debit and credit card adds convenience, allowing you to use it for a variety of transactions.
Cons
- No rewards program: Unlike some cards that offer cashback or points, this card does not have a rewards program.
- High monthly fee: Despite having no annual fee, there is a high monthly fee that could offset some of the benefits.
Usage tips
The Inter Mastercard is ideal for those seeking a straightforward, affordable credit card.
It’s best used for routine expenses and for building a consistent payment history.
The robust digital banking services from Banco Inter make it convenient to manage your finances on the go, enhancing the overall user experience.
Next Mastercard
The Next Mastercard is designed to cater to those who value a digital-first approach to banking.
Here’s a detailed look at its features, pros, cons, and tips for making the most of it:
Features
- No annual fee: This card doesn’t come with an annual fee, which helps keep your costs down.
- Digital banking services: It offers strong digital banking features, allowing you to manage your account conveniently through a mobile app.
- Combo card functionality: The card serves both as a debit and credit card, providing flexibility for different types of transactions.
Pros
- Low fees: With no annual fee and generally low fees, this card is cost-effective.
- Combo card option: The ability to use it for both debit and credit transactions makes it versatile and convenient.
Cons
- No rewards program: Unlike some cards that offer rewards like cashback or points, this card doesn’t provide any rewards.
- High monthly fee: While there’s no annual fee, the monthly fee is relatively high, which could be a drawback for some users.
Usage tips
The Next Mastercard is perfect for individuals who prefer managing their finances digitally.
It’s well-suited for daily purchases and leveraging the digital tools offered by Banco Next can help you monitor your spending and payments effectively.
Regular use and timely payments with this card can also help improve your credit score over time.
C6 Bank Mastercard
The C6 Bank Mastercard offers a straightforward and budget-friendly option for managing your finances.
Here’s a breakdown of what you need to know:
Features
- No annual fee: You won’t have to pay an annual fee for this card, which helps keep costs low.
- Digital banking services: It provides comprehensive digital banking features, making it easy to manage your account through an app or online.
- Combo card functionality: This card can be used for both debit and credit transactions, giving you flexibility.
Pros
- Low fees: The card is generally affordable, with minimal fees.
- Combo card option: The dual functionality of debit and credit is convenient for various types of spending.
Cons
- No rewards program: Unlike some cards that offer cashback or points, this one doesn’t provide any rewards for your spending.
- High monthly fee: Although there’s no annual fee, the monthly fee is relatively high, which could be a consideration.
Usage tips
The C6 Bank Mastercard is ideal for those seeking a simple, cost-effective card. You can use it for both everyday purchases and larger expenses to build your credit history. The card’s digital services make it easy to keep track of your finances and manage your account efficiently.
Additional Tips
When applying for credit cards like those mentioned, here’s a detailed overview of what you need to know:
Application Process
To get started with one of these credit cards, you’ll typically need to gather a few important documents.
This usually includes:
- Proof of identity: Documents like your CPF (Cadastro de Pessoas Físicas) and RG (Registro Geral) are required to confirm who you are.
- Proof of residence: This could be a recent utility bill or bank statement showing your current address.
- Proof of income: Some cards might ask for proof of income, though this is not always necessary.
- Online application form: You’ll need to fill out and submit an application form online.
The criteria for approval can vary.
These cards are generally designed to be accessible, even for those who may not have an extensive credit history.
Fees and charges
While these cards don’t charge an annual fee, they do have monthly fees which can be on the higher side.
It’s also important to watch out for other potential charges, such as:
- Foreign transaction fees: These fees apply if you use your card for purchases outside your home country.
- Interest rates: Be aware of the interest rates that apply to any outstanding balances, as these can vary by card.
Digital Banking Services
All the cards mentioned come with digital banking services.
This includes:
- Mobile apps: These apps allow you to check your balance, track your spending, and make payments conveniently from your phone.
- Online banking platforms: These provide access to your account from a computer, offering similar features as the mobile app but with a broader interface.
Using these digital tools helps you manage your finances more efficiently and keep track of your transactions.
Customer support
Reliable customer support is key.
Most credit card providers offer support through:
- Mobile apps: Many have built-in support features.
- Phone lines: Call centers are available for assistance.
- Email: For less urgent inquiries or issues.
Choosing a card provider with good customer service ensures you have help when you need it, whether it’s for resolving issues or answering questions about your account.
Final Thoughts
Starting your credit journey in Brazil doesn’t have to be complicated.
With the right credit card, you can build a solid credit history while managing your finances effectively.
Whether you choose Nubank, RappiCard, Inter, Next, or C6 Bank Mastercard, each offers unique benefits to suit different needs and preferences.
