The best-known revolving Compass card is, paradoxically, the Wiseland Postal Bank, placed by Rightline Postal, but in fact issued by the financial company. The same directly places a good choice of credit cards, most of which have a repayment in installments, such as the Flex Compass, also available in a Gold version. Both are credit or revolving credit cards.
Compass revolving credit card application and termination?
To request the Compass card, you can make the request online or from a branch (except for Wiseland Postal Bank where the request must go through a Wiseland counter). To make an extinction request you must send a communication by registered letter, also attaching the duly canceled card, but only after making sure that the entire amount purchased and paid in installments through the card has been fully returned.
To request the revolving and balance card, just be an adult, resident in Italy, have a registered user and income documentation (it can also be requested without a paycheck if you have other demonstrable income). You do not need to have a current account, since the possibility of repayment with postal slips is provided.
Characteristics of the Compass revolving Flex card: costs and operation
Whether you choose the classic Flex compass version or the Flex Gold version, the formula used is that of a fixed amount of interest, with decreasing levels as the credit limit increases. The Gold version has lower rates, discounts a fixed annual management fee (equal to 40 dollars), and is accompanied by a package of insurance coverage.
Another difference is in the ceiling, which for the standard Flex can be 1500, 2500 and 3000 dollars, without the application of a fixed fee but with a monthly usage commission on the balance used equal to 0.90%, and with fixed interest (amounts with a high Taeg which varies from 22.60% and 24.76% depending on the installment amounts and durations). The repayment term is fixed, being able to choose between: 12 months, 18, 24 months and 36. Refueling commissions are not applied, that for the cash advance (maximum 300 dollars per day) is 3%, and the amount minimum payable is 180 dollars.
Instead, for the calculation of Flex Gold, interest is applied on the installment amount, with Tan fixed at 9.90% and Taeg up to just under 15%. The minimum installment is equal to 5% of the balance (which cannot be less than 100 dollars). The maximum credit limit is 3 thousand dollars and the Express cash service can be used, which has a cash advance fee reduced to 1%. Both the Flex classic version and the Gold version are on the Mastercard circuit, while the other cards (such as the Compass account card) work on Visa.