Top 10 Credit Card Tips

Popular vote - which credit card is better?
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Alfa-Bank, "100 days without interest"

Tinkoff, Platinum

Home Credit Bank, "120 days without%"

Raiffeisen Bank, "110 days without interest"

Promsvyazbank, "100+"

Total voted: 5

Vote results

See how much money the bank offers. Of course, the limit is determined individually for each client, but this indicator will help you quickly navigate and find the best option. Based on the proposals for 2021, the bank can approve a loan from 10,000 to 3,000,000 rubles. The final amount is primarily affected by solvency - the higher your official income, the higher the loan threshold will be. Also, the decision may be affected by the history of cooperation with the selected bank. If you have an account, deposit, salary or regular card there, then you will probably be treated more loyally and the loan will be larger.

It should be understood that the credit limit is not constant and can be increased. To do this, you just need to regularly use a credit card and return the money in a timely manner. However, even if you immediately received the maximum amount, you should not relax and lose vigilance, as there is always a risk of exceeding expenses and getting into debt.

Unfortunately, banks do not issue funds free of charge, and you will have to pay for using the money. Although, of course, if you fit into the grace period, then you can do without overpayments. However, if you do not have time to return the spent amount on time or make transactions that do not fall under the grace period, then interest will accrue on the balance of the debt. That is why it is better to assess the risks in advance and find out how much you will have to overpay in case of delay and for what. To date the interest rate for individuals ranges from 11.9 to 19%. For cards, it is usually higher than for ordinary loans for consumers or for certain purposes.Here you overpay for convenience: after all, money will always be at hand.

At first glance, everything is simple with the interest rate: the lower it is, the less the overpayment and vice versa. But not everything is so simple, as often high costs for issuing a card or its maintenance are hidden behind a low rate. However, there is a pleasant moment: some banks provide for the possibility of lowering the rate for solvent customers with a good credit history.

When choosing a credit card, it is also worth considering that the bank may evaluate different transactions differently. According to the agreement, the rates for card purchases and other actions may differ. Often, special conditions apply to cash withdrawals and transfers. The bank regards such transactions as risky and imposes higher interest rates. Overpayment for cashing out can be 20-30%, and some cards reach 49.9%. If you do not plan to withdraw cash or transfer money to other accounts, then be guided by the conditions for purchases.

Credit cards can be an effective and even profitable financial tool if used wisely. Each of them has a so-called interest-free grace period, or otherwise a grace period, when you can use the money for free for a set time. Interest will only accrue at the end of this period.

Average grace period is 50-60 days. Although there are more generous offers. For example, Alfa-Bank offers as much as 100 days, and Home Credit Bank all 120. When the funds are returned in full, the free period will restart. Such updates can be made an unlimited number of times.

So, consider which grace period is more convenient for you - short or long, depending on the situation. For example, if you plan to occasionally borrow money from the card, "intercepting before payday", and almost immediately return them, then the long grace is not so important. Then you should pay attention to other credit cards, as their conditions may be more profitable, even if the interest-free period is short.

If you are planning a large purchase, for which you can only pay for a few months, it is better to consider cards with a large grace period. However, no matter how impressive the term may be, experts recommend not to abuse it, since in case of delay, you will also have to pay rather large interest. In addition, it is worthwhile to study the conditions in advance and find out which transactions are not subject to interest. Most often, the option applies only to card purchases, although some banks allow you to easily withdraw cash.

It is also worth considering that during the grace period, you still have to top up your account, albeit for small amounts. Usually, 1-10% of the amount owed is sufficient. This is necessary, rather, simply to confirm your solvency and to remind you of obligations. At the same time, the minimum payments do not exempt from paying the entire debt, and before the end of the interest-free period, it is necessary to return all the funds spent. If you regularly make payments and comply with all the conditions, then the bank can show loyalty and get rid of the minimum contributions.

The cost of annual maintenance affects the overall value of a credit card. With minimal spending, the costs may not pay off. There are three options: paid content, free or near-free subject to conditions, and just free.

Paid card content. At the moment, the amounts range from 550 to 1890 rubles per year. Payment can be charged in different ways - some organizations write off everything at once, some split payments into 12 parts and charge monthly.

Free or almost free service subject to certain conditions. Some banks do not charge a fee for the maintenance of a credit card or charge, but insignificant, if you spend a certain amount specified in the contract. Usually for this it is enough to make purchases for 7000-10000 rubles. per month. Such conditions will be beneficial if you plan to spend a certain amount monthly, and not keep a credit card for a rainy day.

Just free map content. There are credit cards for which you do not have to pay extra. Such offers can boast, for example: Sberbank, Raiffeisenbank and Otkritie Bank. This is ideal if you don't plan on spending much, but just want to have a cash reserve.

Before issuing a credit card, carefully study the documents, because even if the offer seems profitable in advertising, the contract may contain many pitfalls associated with additional costs.For example, in addition to the annual service, the bank may ask you for money for cash withdrawals and transfers.

For cash withdrawal. This is due to the banal benefit. If you pay in cash, the bank does not receive anything. But when paying with a card, and any, credit or debit, the store deducts funds for a non-cash transaction, that is, acquiring. So it is elementary more profitable for the bank that you pay with a credit card. The commission can be charged as a percentage or a fixed amount. Usually it looks something like this: commission for cash withdrawal is 3%, but not less than 300 rubles. This means that if you withdraw a small amount, say 500 rubles, then a maximum of 800 rubles will be debited from your account.

If you still plan to sometimes use cash, you can find quite advantageous offers. For example, it is allowed to withdraw money from the “100 days without interest” card from Alfa Bank without commission at all. True, up to 50,000 rubles per month, but on the other hand, the preferential 100 days for these funds will operate in full and will not be reduced in any way.

For transfers. Banks regard these operations as suspicious and impose additional interest. In the end, in their opinion, a credit card is needed to make purchases, so it is better to refuse such manipulations.

Informing about the state of the account. For their customers, banks offer convenient services that greatly facilitate the use of credit cards and allow you to see the status of the account and control expenses at any time. To always be aware of events, it is worth connecting SMS-informing or Internet banking. Also, some organizations boast mobile applications for smartphones that allow you to instantly receive information about the state of the current account and see the amount of the required monthly payment.

Insurance. The bank offers the opportunity to use insurance services to each client. This is not a mandatory action and can be omitted. Insurance is necessary in case you lose your ability to work or for some other reason cannot repay the loan. For the service, a certain amount will be debited from the account every month. Its size is calculated based on the approved amount of funds.

Special options. Different banks also offer personal services. For example, Alfa Bank allows you to pay for housing and communal services with a credit card. And Home Credit Bank pleases with its loyal attitude to mandatory payments and, if necessary, gives its borrowers the opportunity to skip the loan installment one-time or even take “Credit Holidays”, when you can forget about payments for 2-6 months.

Card status. Certain privileges also depend on the "status" of the card itself. Banks offer three options: Classic, Gold and Platinum. At the same time, gold and platinum credit cards boast a lot of "goodies": a longer grace period, reduced interest on cash withdrawals and transfers, discounts on purchases in certain categories, interest on the balance, etc.However, with all the pluses, their service often costs 2 or even 3 times more than classic credit cards, so the conditions should be studied in advance. The choice of "status" as a whole depends on you and how often you will use a credit card, whether you need these additional privileges or whether the basic "settings" are enough for you.

Bank service. Other things being equal, the company's policy and attitude towards customers also affect the convenience (but not the benefit) of using the card. Not all organizations can boast of friendly service and competent support service. After all, it is much easier and more comfortable to spend money if you were told in detail what, how and why, they helped to resolve the problem, if interest was written off unreasonably, etc. etc. So when choosing a bank, pay attention to reviews - this will help you evaluate the level of service.

Some banks offer their customers additional benefits in the form of cashback. It can look different: somewhere, a part of the funds is returned in rubles, somewhere as bonuses or miles that can be spent on new purchases. It all depends on your lifestyle. If you often travel around the country and regularly visit abroad, then it will be beneficial to take a card with a bonus program from the railway company and air carriers.

Shopping lovers you should pay attention to discount programs in stores and cashback.So you can save a lot on food, clothes, equipment, etc. Usually, cashback is credited for certain categories of goods. Another option is shopping at partner stores. You can usually return in this way from 0.5 to 33% of the amount.

For car owners a credit card with bonuses from gas stations or car dealers is suitable. Almost all banks offer such bonus programs today.

Also, sometimes additional privileges are received by a borrower who actively uses the card and spends no less than the established limit. At the same time, remember that points and miles can not be spent everywhere and each bank offers different programs, so you should first study the conditions.

This is especially true for those who live in small towns or villages, where from ATMs there is one ten-year-old Sberbank terminal. If this is your case, then paying off a loan in cash is not a good idea. In addition to the fact that every time you have to get to the place, you will also need to pay a commission if you have a credit card from another bank. To avoid such inconveniences when choosing a card, pay attention to the ways to repay the debt. Many banks allow you to transfer money from regular and salary cards, as well as from savings accounts. Others have a mobile application or Internet banking for this, so if you have a smartphone and stable internet, then this is the best option. In addition, it should be borne in mind that a loan may simply not be approved if you are registered in a territory where there is no office of the selected bank. Therefore, it is worth contacting a large company where they work with borrowers living in any settlements.

The list of documents determines the maximum loan amount, the cost of annual maintenance, interest, and sometimes the very possibility of card approval. In addition to the passport of a citizen of the Russian Federation, in order to receive funds, you will need:

Copy of work bookcertified by the employer. If the book does not contain exhaustive information, you can refer to the portal of the State Service. There you can get a statement of your full length of service. Usually, to approve a loan, it is enough to have an experience of 1 year and work at the last place of work for only 3-4 months.

Statement of monthly income. Usually it is enough to present a 2-personal income tax certificate, but it is relevant if your entire salary is “white”. If the official part of the salary is not enough for you to get a mortgage or a car loan, you will have to confirm the full amount of income in the form of a bank. This document records the unofficial income of the applicant, from which he did not pay taxes. Although There are banks that only need to provide a passport. For example, Promsvyazbank can approve a loan up to 100,000 rubles. without proof of income.

If you work in the office and freelance at the same time, then you can confirm additional income through a bank statement or electronic wallets (QIWI, YuMoney, WebMoney). This method is also relevant for self-employed persons who receive informal payment for their work.

There are also special requirements for pensioners. To confirm their income, they will need to present a pension certificate and a certificate from the Pension Fund on the pension paid in the last month.

Information about other loansif they are not currently redeemed.

To increase your chances of success, you can provide information about real estate, personal property, rental income, or investment income. In some cases, even a copy of a foreign passport with notes on trips abroad during the past year, a voluntary medical insurance policy or CASCO can help.

Getting a credit card is not as easy as it might seem at first glance, and you need to meet a number of requirements, so consider the offers of banks for which you are suitable as a borrower. Requirements may vary depending on the financial institution.

Age. For most organizations, the ideal borrower is a person between 21 and 65 years old. Although these restrictions are introduced by the bank itself and in some, young people from the age of 18 (as, for example, at Home Credit Bank) and pensioners under 85 years old (as at Sovcombank) can get a loan.

Registration in the territory where the bank's offices are located. This does not apply to large organizations that work with borrowers living in any locality.

Stable income. Before applying for a loan, you must work at your last job for at least 3-4 months. At the same time, the size of the official salary must correspond to the required minimum so that you can pay the debt to the bank. For some, the overall experience is also important - usually it is enough to work out only 1 year. Some organizations issue loans without proof of income, but in this case, the cash limit will be small. The maximum amount that can be approved does not exceed 300,000 rubles.

For the bank, “status” is also important - Individual entrepreneurs and self-employed people are reluctant to give loans. If we talk about the self-employed, then, as a category of borrowers, they appeared in Russia not so long ago and banks still do not have a clear scheme of action. In addition, from a financial point of view, the situation looks quite risky, because such an employee is not listed in any particular company and it is not so easy to check the stability of his work. However, there are certain advances in cooperation with such clients, and money is being given out, but the frequency of money transfers, the total amount of income, and how long you have been working in this format are important here. Unfortunately, one statement from a bank account or electronic wallets will not work.

It is also not easy for an individual entrepreneur to get a loan and for this you will have to provide a maximum of documents confirming solvency. Also, a lot depends on the life of the IP - if it is less than six months, then you should not count on a positive decision, since it is still not clear whether the business will survive or close. To obtain approval, it is desirable to work for more than 1 year.

Cleanliness of previous lending transactions also affects the success of loan approval. If in the past you violated the terms of the loan, the bank has the right to refuse to provide you with funds.