Will PIX in installments take the place of a credit card? See which option is best
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PIX arrived with everything and won over Brazilians like nothing before, but now it has everything to grow even more. The already mentioned PIX installments, as the name suggests, makes the payment tool a strong competitor to the credit card. Even with many advantages, you need to be careful with installments.
Banks and other financial institutions now allow you to pay PIX in up to 24 installments. It's like a personal loan, as customers ask for an advance on the requested amount to pay them in installments, but of course the modality also adds interest.
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PIX installments and credit card
The dynamics of this PIX still leave many consumers in doubt. Unlike what happens with a credit card – where the transaction costs are borne by the seller –, the interest is indicated at the time of contracting in the case of PIX in installments. Therefore, it is the customer who is responsible for payment.
This is why the resource has to be used with caution. Furthermore, it is necessary to observe how much each bank or institution charges to divide the amount in question.
The period for paying the amounts also has an impact on the total cost of the service, that is, the more installments, the higher the interest must be.
See below the amounts charged by some banks and institutions:
- Santander: from 2,09% per month;
- Mercado Pago: from 2,5% per month;
- PicPay: 3,99% per installment.
Due to all these factors, some experts believe that PIX installments are not considered a credit card competitor. Therefore, it becomes another payment alternative that may make more sense for certain people. For those who don't have access to a credit card, for example.
Will the PIX post in installments take the place of the credit card? See which option is best appeared first in Edital Concursos Brasil.