Pay attention to the contract
The credit card is perhaps one of the most technologically advanced products for banking customers. This is due to the fact that its main parameters are determined by the payment behavior and habits of citizens, as well as the ability of credit institutions to make credit cards not only attractive, but also convenient for registration, repayment, interest-free. economist Andrei Barkhota, period etc.
For this reason, it is necessary to pay attention to the debt limit, grace period and card service fee determined by the bank when applying for a credit card.
Spend a month and pay for three
Many banks position credit cards as the most successful financial solution precisely because of the rather long grace period: 100-180 days. At the same time, most of the market leaders give free well-maintained credit cards, as the customer may not use the card limit for a long time and in this case it seems like a service with a maintenance fee imposed.
Tatyana Rychkova, head of the credit card department at Transcapitalbank, explains that a grace period is a period when a customer can use a credit card without paying interest. It can be of different duration and depends on the conditions of the bank. The grace period is important for customers as it allows them to use their credit cards at no additional cost. However, it should be borne in mind that interest is accrued on the use of loan funds after the end of the grace period.
According to Alexander Kalinkin, general manager of the Customer’s Wallet division, today all major banks offer credit cards, competing during the interest-free period. “Here you must carefully and thoughtfully choose which bank to issue a card with. We followed an honest path when creating our card and immediately set a long 120 days interest-free, renewable every month. The card is suitable for any occasion if you need money. A credit card is a spare wallet. I note that it is most profitable to pay by card when shopping in stores and on the Internet.
Interest rates
“Credit Sbercard’s interest rate is 25.4%, known in advance and always the same. We understand our responsibility, since Sber customers are all over Russia, we have a special rate of 9.8% for purchases in the Health category, as well as in the SberMarket online store, where you can find all the products you usually buy, – added Kalinkin.
In order not to remember information about the loan, the client can use the Sberbank application online and find out the duration of the interest-free period and the amount of the payment (both for the whole period and for months). In addition, the customer will receive an SMS with a reminder to pay to avoid delay. Thanks to the clear and convenient interface of the SberCard debt screen, customers always know the mandatory payment amount and the total amount of the debt and can predict the repayment period.
According to experts, banks can make promotions depending on a particular situation or category of borrowers. But all discounts expire sooner or later. Therefore, if the customer is going to use the credit card for a long time, it is better to rely on the fact that there are lasting benefits.