After all, how does Construcard work? Let's start in a very brief way: the Construcard Caixa Card is a type of real estate credit for the purchase of construction materials at partner stores. If you already own a property and want to renovate it, it is worth knowing this option.
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WHAT CONSTRUCARD IS AND HOW IT WORKS
This is a specific credit line for the purchase of construction material. After approval, it must be used within 6 months through a specific card (the Construcard Card) in stores accredited by Caixa Econômica Federal. During the purchase period, the interest applied will be proportional to the amount used.
And how does Construcard work in practice? With it, you can purchase both basic and additional building materials to redesign your home and make it more modern and with your face. Some examples:
- Bricks
- Paints
- Roof tiles
- Flooring
- Frames
- Solar Heaters
- Solar energy devices
- Water tank
- Pool
- Lighting
- Planned cabinets
It is important to highlight that, according to how Construcard works, it is not used to pay for labor. It covers construction inputs exclusively.
The use of credit is the first phase of Construcard, followed by the amortization of the amount due. After 6 months of contracting Construcard - the period in which the policyholder makes all his purchases -, it is necessary to start paying the outstanding balance.
There is no maximum limit for the value of Construcard. It is defined according to the customer's payment capacity and profile analysis, as explained by Humberto Magalhães, then director of Caixa Econômica Federal, in the video below:
See Humberto Magalhães explain to us how to access Construcard financing
The amount is automatically debited from the checking account and the installments are defined according to the Price Table - that is, the amount is the same from beginning to end.
The financing term can vary between 1 and 240 months (20 years).
HOW TO MAKE THE CONSTRUCARD CARD
First, it is necessary to fulfill the prerequisites of Caixa Econômica Federal. Are they:
- Be over 18 or emancipated
- Have a checking account at the Cashier
- Pass credit history assessments
The required documents are the following:
- RG and CPF
- Proof of address
- Proof of income
- Guarantee documents, if applicable (fiduciary alienation of movable property and deposit guarantee or financial investment result in better conditions)
- Proof of ownership of the property
Once these components are in order, there are 3 steps to follow:
- Visit a Caixa branch with your documentation in hand
- Go through registration survey and credit risk analysis
- After approval: sign the financing contract and receive the Construcard card (by mail or at the agency)
Then, just unlock the card, check which stores are affiliated and buy what you need within 6 months of releasing the money.
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COMMON QUESTIONS ABOUT HOW CONSTRUCARD WORKS
WHO ACCEPTS THE CONSTRUCARD CARD?
There are tens of thousands of stores that accept the Construcard Card. Caixa maintains a page dedicated to accredited establishments, which you can consult here.
CAN I USE FGTS IN CONSTRUCARD?
Although your FGTS can be used in real estate financing (learn more about this in this post!), the amount contained therein is not applicable to settle Construcard's debit balance.
HOW TO DECLARE CONSTRUCARD IN THE IRPF
The Construcard is a line of credit offered by Caixa. As such, according to information from the bank, it must be declared in the Debt and Real Charges form, as well as any other credits and active loans.
It is possible to obtain the income tax statement on the Caixa website , through online registration.
AFTER ALL, IS CONSTRUCARD WORTH IT?
Construcard's financing option was created to give credit to those who dream of remodeling and need help to acquire the necessary construction materials. Like any financial product, however, it is necessary to evaluate its use on a case-by-case basis.
The biggest disadvantage of this model is that money can only be used for one purpose: the purchase of materials. If you are unable to pay the service providers or any architectural projects, for example, it makes little sense to have access only to the materials and not to the execution of the work itself.
