Anyone who has a bad name and is looking for a credit card to call their own could find themselves in hot water. After all, the granting of credit in this case is limited.

Including a consumer's name on the Banco de Portugal blacklist can generate a series of negative consequences and further disrupt their finances.

So, continue reading and see what card options are available, as well as other financial solutions. Next, check out tips for clearing your name again.

The answer is no. Anyone who has their name registered on Portugal's black list faces barriers to obtaining credit.

Therefore, it is not possible to obtain credit cards or new loans. They are only available to those who are up to date with their debts, not late.

Because Banco de Portugal imposes credit restrictions on those with outstanding debts. Consider that these consumers pose a risk to the market.

Signing up on the blacklist already indicates, in itself, that that consumer is not a good payer. Or, at least, that at the moment they are unable to pay their debts.

Therefore, when there is this registration, it prevents access to credit. No bank will take the risk of granting credit to anyone with a bad name.

Not necessarily. This will depend on whether the debt in question is related to the card or the bank that manages it or not.

When the debt is unrelated to the banking institution or does not refer to the overdue card bill, it should not be blocked.

Rare exceptions refer to the provision, in the card contract, of blocking or canceling it in the event of your name being denied for any reason.

However, in general, a debt that is not related to the bank or card does not affect you. So, you can continue using it normally, as long as your invoice is up to date.

As we have seen, there are no credit card options for those with a bad name. Citizens can only keep the card they already had before their name was blacklisted.

On the other hand, this does not mean that there are no financial solutions for consumers with outstanding debts. They also have some options.

Continue reading and see in the items below what these solutions are and how they work. Afterwards, check out tips to regularize your name and get rid of debt!

The first solution for those who have a bad name and are looking for a credit card is a prepaid one. It is a simple option, but it can help you.

Prepaid cards do not have a credit limit granted by the financial institution. In this case, making purchases depends on the presence of an account balance.

Therefore, it is up to the consumer to deposit amounts that will become a limit for credit purchases. They are paid in cash and there is no invoice at the end of the month.

However, this is interesting because it allows the card to be used abroad, for example, as long as it has an international brand and a balance for purchases.

Although you need to have cash available to use the card, it is an immediate alternative.

Another financial option for those who have a bad name and cannot get a credit card is to use debit cards. Today there are several of them that are international.

With Mastercard and Visa brands they can also be temporary solutions. Just like the previous option, they also only work in cash and if there is a balance in the account.

Anyone who has not been able to pay their bills and is in arrears may be penalized by having their name added to the Banco de Portugal blacklist. 

This can generate a series of negative consequences, such as limiting access to credit. Therefore, it is extremely important that the consumer seeks to resolve the situation.

If you are unable to pay the outstanding amount immediately, be sure to contact your creditor. If possible, contact him before the installment is due.

This way it is possible to negotiate the debt even before it is due and thus prevent it from becoming due, delaying it and leading to being placed on the blacklist.

Negotiation is also possible for debts that have already matured. Look for conditions with the creditor, but only accept a solution that really fits your budget.

Otherwise, there is a good chance that your name will soon be on the Banco de Portugal blacklist again.

Finally, remember to always keep an eye on your budget. Seeking extra income and cutting unnecessary expenses is a great way to regain financial balance.

Yet another option is credit consolidation. It consists of combining several credit debts into one. This reduces the number of fees and charges for each operation.

Therefore, it is common for this type of operation to promote savings of up to 60% in the value of monthly credit debts. However, you need to have a clean name to hire her.

If you want to know more about the subject, we have a complete article that tells you everything about consolidated credit. Check it out below!