Nubank launches feature to increase credit card limit from collateralized investments

São Paulo, April 24, 2023 – In response to customer requests for credit card limits, Nubank has just added a new feature to its portfolio of financial services: Nu Limite Garantido. The new feature, which is gradually being released to the client base in Brazil, proposes to transform different types of investments into more credit card limits instantly and practically.

In this first version of the new function, customers will be able to increase the card’s limit using the money saved in the “Caixinhas” – a feature for organization and financial planning available in the Nubank app – while the amount continues to earn money from Nubank’s RDB (Bank Deposit Receipt). The user can choose the amount to be reserved as a limit and increase it from R$ 1.

“Nu Limite Garantido is an innovation that makes the customer’s money work much harder for them, serving as more purchasing power, with the instant limit increase, and with the Caixinha income. This is a first step to offer even more collateralized credit options using financial assets as collateral in a practical and secure way within our app,” says Rusen Baragiola, Nubank’s card area leader.

To start using the feature, go to the Limit Adjustments screen within the credit card area of the Nubank app. The Nu Limite Garantido button is located at the bottom of the screen. After that, in a few clicks, the user will create the new dedicated Caixinha for a limit increase and deposit the amount they want to save, which will be applied automatically from the digital account balance and start growing daily. Today, Nubank’s RDB (Receipt of Bank Deposit) behind this Caixinha delivers a yield of 100% of the CDI and immediate liquidity.

“Here at Nubank, we see the credit card as another tool for people’s financial planning, for example, to concentrate the month’s financial expenses in an organized manner. With Nu Limite Garantido, the proposal is to transform different types of investments into more credit card limits in an instant and practical way for the consumer,” adds Rusen.

Immediate liquidity of the amount saved in the new Nu Limite Garantido Caixinha is available as long as the amount has not been used for purchases with the additional credit card limit. To release the total amount saved in the Caixinha, simply pay the outstanding bill. In unforeseen situations where the customer cannot pay the minimum of his bill, the same money saved will be used to pay the amount outstanding on the seventh day of delay.