How to use a credit card
It has been enjoying well-deserved popularity in Russia for more than 10 years. Each bank seeks to attract as many customers as possible and regularly introduces changes in the rules for using a credit card. Sometimes - profitable for customers, sometimes - not so much. They should be guided, since each of the cards can be designed for specific purposes.
If you bring all the favorable conditions to a single list, they will look like this:
- interest-free period up to 120 days;
- the maximum available limit is up to 500,000 rubles;
- free release and maintenance;
- there is no commission for cash withdrawal;
- annual rate on the body of the debt from 20 to 30%;
- the possibility of using installment payment;
- automatically revolving credit line;
- the minimum set of documents for registration;
- cashback up to 5% on all purchases.
However, meeting all these conditions in one credit card is unrealistic. Below we will consider the main list of rules and conditions for the use of such a banking product. Additionally, credit cards from banks will be compared:
- KIWI.
- Kviku.
- Eastern Bank.
- home credit.
- Sovcombank.
- VTB Bank of Moscow.
Vostochny customers have access to a limit of up to 300,000 rubles. The application is considered within 5 minutes from the moment of its submission on the bank's website. The card is issued immediately after approval. With the active use of a credit card, the rate per year will be 29.9%. Additionally, there is a promotion from the bank's partners, in which customers who make purchases at the adopted time can get back up to 40% of their value. Shares can be tracked in your personal account located on the official portal of Vostochny Bank.
"Credit Multicard" allows you to receive up to 10% cashback from purchases. At the same time, there is a restriction on refunds only for the “Restaurants” categories. The maximum refund amount cannot exceed 15 thousand rubles. There are no restrictions for other categories.
The card provides an extended credit limit of up to 1,000,000 rubles. Grace period up to 50 days.
All the cards discussed above allow not only making profitable purchases in stores and paying with credit cards in restaurants, but also earning money on such operations. With active use, customers can return funds to their account in the amount of up to 10%. This is quite profitable and allows you to save a lot per month from each purchase.
Use any credit card wisely and profitably
The terms of use for each of the cards considered in the article are almost the same. Credit cards are considered an active banking product. This means that when you receive a card, it is better to pay with it at least once a month.
Don't just keep the card. It was created for the purpose of making small purchases. Therefore, such a large percentage is charged on the body of the debt in comparison with an ordinary consumer loan. This is explained by the fact that by providing small limits, the bank strives to earn as much as possible from each operation and at the same time not ruin the client.
Making purchases of up to 50,000 rubles a month and then paying for them throughout the year will be much more profitable than immediately using the entire provided limit of 300 or 500 thousand rubles. As a result, the client will have to pay almost 2 times the amount received for expenses.
How can you save on interest?
An important element in saving each card is the grace periods. They are made specifically to increase activity and the use of borrowed funds. If you manage to pay off the entire amount of the body of the debt within the prescribed period of the preferential loan, then the annual interest rate will not be charged on it.
But it is worth remembering that basically such limits apply to purchases on credit for up to 50-60 days, in a rare case up to 100-120 days. During this period, it is necessary to correctly calculate all future payments in order to have time to pay off the debt on time.
It is better to pay by card in small amounts. This practice will allow you to quickly repay the loan without overpaying the established interest on it.
Key rules for using installment cards
Installment cards are slightly different from classic credit cards. They offer their customers the possibility of interest-free repayment of funds used for the purchase for up to 1 year.
With such credit products, users can only pay for purchases. You cannot withdraw cash from these cards. At the same time, the installment terms are different; they depend on whether a particular store is a partner of the bank.
1. Banking product "Conscience"
