Magazine Luiza Card- Benefits, How to Apply, Interest Rates

Magazine Luiza, a well-known brand renowned for its technology product retail store, now has its credit card. Going for the Magazine Luiiza credit card would be best because of this brand’s network. Magazine Luiza boasts a network of over 800 stores nationwide.

The company captured the attention of consumers through its solid online presence. Intrigued by its offerings, I have tried to determine the advantages of the Magalu card for regular and occasional customers. If you are also the one who is interested in the Magazine Luiza card, then be with us till the end. We are going to uncover the benefits of the Magazine Luiza card.

The guide is filled with valuable information, including:

  • Advantages of the Magalu card
  • Differences between the Gold and National modalities
  • How to apply for Magazine Luiza
  • Luiza Card Application
  • Details on fees and charges
  • Call Center and Store Locations

Advantages of the Magalu card:

Magazine Luiza offers two types of cards: National and Gold. Both provide up to 10% discounts on in-store and online products and allow payment in up to 24 interest-bearing installments.

The National and Gold cards are affiliated with the Mastercard brand, allowing customers to participate in the “Buy 1, Get 2” program. Also, the company has established partnerships with companies such as Netshoes, Shoestock, Época Cosméticos, and Zattini so that cardholders can enjoy exclusive discounts when purchasing from these brands.

Overall both cards offer advantageous features. Though Gold cardholders enjoy additional benefits, the question remains: is it worth it? Let’s find out.

Distinguishing Features of Gold and National Modalities:

While Magalu’s cards provide special benefits to their users, there are certain distinctions for Gold cardholders. Gold card customers don’t need to pay annual fees (zero annual fees); they can also access exclusive programs annually.

In addition to the standard 10% discount, Gold cardholders can enjoy even greater promotions at physical stores.

Gold cardholders must make at least five purchases on the website or in-store within three years. Also, the purchases must be a cumulative value of at least R$2,200 with a maximum payment delay of 30 days.

Flexible Invoice Installment Options:

In addition to the previous benefits, the Magazine Luiza card allows users to pay the bill in up to 24 fixed installments.

Customers with personal credit can fund their accounts within 48 hours if the credit is approved. Special payment and instalment conditions further enhance the card’s appeal.

The Magalu Deals Club:

Customers can enjoy various benefits within the Magalu Deals Club by downloading the Clube da Lu app. These benefits can reach up to 70% discount on selected products. Additionally, cardholders can receive an additional 10% discount within the Club (conditions apply).

Furthermore, every purchase made with the Magazine Luiza card at Época Cosméticos e Perfumaria grants customers a 10% discount. Customers earn 1 point for every purchase, regardless of the amount. You can easily redeem the points while spending on various options, from restaurants to clothing.

Step-by-Step Application Process:

Applicants with certain requirements can get their National card, and the requirements are listed below:

  • Applicants must be at least 18 years old.
  •  The applicant’s income must be equal to or greater than R$800.
  •  Applicant must have personal identification documents.
  •  Although having a negative credit history does not prevent an application, it significantly reduces the chances of approval.

You can apply for the card either from the Magalu website or at a nearby physical store.

Here are the steps for online application:

  • Visit the Magalu website.
  •  Locate the New Application menu.
  •  Fill in the details like your primary source of income, full name, CPF, and Email address.
  •  Submit the application.

After the approval, the applicant will receive his card within 15 days at the registered address.

Luiza Card Application:

A perfect place where you can manage your expense is the Luiza Card application. Users can check their balances, review invoices, and track purchases and payments.

Because of security reasons, the virtual card expires shortly after each purchase. Furthermore, the platform provides a real-time, chronological timeline of card expenses, facilitating easy monitoring. Another noteworthy feature is the ability to make mobile phone instalments, simplifying negotiating purchase values.

User Ratings:

The platform maintains an average rating of 4.3 stars.

The Cartão Luiza app is free for download on the Google Play and Apple Store platforms.

Although, some Android users have reported issues when paying bills at banks other than Itaú. Users have criticized the app for lacking flexibility, with certain individuals having experienced difficulties using their Nubank account for payment.

In response, the developers reacted that they constantly try to improve and enhance the application’s overall performance.

Card Interest Rates:

In the event of delayed payments, the interest rate charged is 16%. However, the company still needs to disclose the exact credit card interest rate.

The annual revolving credit rate was reported to be 210% of Itaú’s in 2017.

Additional charges associated with the Magazine Luiza card include a 12-installment annual fee of R$9.99, R$5.50 for SMS services, and a withdrawal fee of R$12.00 per transaction.

Charges for the duplicate card are around R$ 9.90.

Magalu Loan

Magazine cardholders and regular customers can apply for a loan at the Grana Extra store, exclusive to physical Magazine Luiza stores. You will need your CPF, RG, proof of residence, and proof of income to apply. The interest rates, loan amounts, and available plans will be provided personally.

Similar to the card application process, loan applications are subject to credit analysis, and the conditions may vary for every applicant based on the customer’s profile and financial behavior.

If you are a Magzine cardholder, the loan will be taken as personal credit, and payments will be made using the Magazine Luiza card.

Call Center and Store Locations:

If you prefer not to use the application, you can unlock your card by contacting the call centre at 3003 3030 (for capital cities and metropolitan regions) or 0800 720 3030 (for other locations). The call center operates from Monday to Saturday, between 6 am to 10 pm.

Lastly, you can locate the address of the nearest Magazine Luiza on their official company website. You can visit one of their physical stores for further clarification and assistance.

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