Many banks offer credit cards to their customers. But before using them, you need to understand the conditions under which the funds are provided. If you know how a credit card works, it will be very easy to understand all the intricacies of a financial product.
Definition
Credit card - a banking product offered to customers of a financial institution. On it you can take a loan for a certain amount and term. The service is similar to a standard consumer loan, but still has its own differences. How a credit card works, you can find out by the terms, requirements, principles of provision.
Conditions
This is set by the bank. Each institution offers its own conditions. Somewhere they are beneficial to people, but somewhere they are not. How does a credit card work in most banks? She always has a bet, a limited period and amount. Some have a grace period.
The average rate on Russian banks is in the range of 24-35%. Not always a low percentage means benefits, since an additional amount may be taken for insurance. The lending period is usually 3-5 years.
Borrower Requirements
To receive a credit card, a client must meet certain requirements:
- citizenship of the Russian Federation;
- age - from 18 to 70 years;
- good credit history.
These are the basic requirements. For some programs, an income statement is required. Typically, loans are issued without guarantors and collateral.
Getting
How does a credit card work in receiving? Banks issue it by various methods. Often plastic is provided at the bank with a personal visit. It is often sent by mail if the client has already used the services of a financial institution.
There are banks that deliver cards to the house by courier, but usually these services are only available in large cities. To receive you need to apply at the office or online. A convenient delivery option is sometimes offered.
Documents
Depending on the bank, the following documents may be required:
- Passport.
- INN
Sometimes additional papers are needed, for example, when applying for a large loan, a certificate of employment is requested.
Features of work
Understanding how a credit card of a Sberbank or other institution works is very simple. It functions in the same way as the standard salary. You can withdraw funds through an ATM if you need cash. It is also possible to pay in stores for purchases and services.
You just need to know before registration what interest is charged in each case, since the rates for receiving cash and for bank transfer usually differ. It is necessary to pay the debt in a timely manner so that no fines are accrued, because of which a large amount will have to be returned.
Grace period
How does a grace period work for a credit card? This feature is in almost every bank. This is the period during which you can pay debt without interest. Usually it is 50-60 days. If during this period the loan is not paid, then the amount is recalculated at the current interest.
Limit
There is a limit on cards. Usually it is 300-500 thousand rubles. Often its size is set based on customer income. Some banks offer special cards, such as car loans. Then the limit can reach up to 1 million rubles.
The limit is determined by the specifics of the bank, as well as the offer. Why a credit card does not work, you can find out from an employee of the institution. This may be due to various reasons, for example, lack of activation.
How to use?
Will credit cards work to pay for purchases? They are designed for this. Some banks have bonus systems that provide customers with benefits.
You can withdraw money through ATMs. If the device belongs to the bank, then, as a rule, there will be no commissions for such services. If the apparatus of another institution, then there will be a fee, the size of which may be different.
Repayment of a debt
It is necessary to pay the debt in a timely manner so that fines are not charged. You can deposit funds in several ways:
- Through the terminal of any bank - a commission of 2-5%.
- Depositing funds using transfers from other cards.
If you do not deposit funds in a timely manner, then the percentage valid under the contract will be established. It is fixed. Usually, a clear rate is set, specified in the contract, which is signed at the time of loan processing.
Some banks provide a delay if the client does not have the opportunity to pay the debt. Only this must be warned in advance. In case of late payment, credit history worsens. Then in the future it will be difficult to get a loan from this bank.
Pros and cons
Using such programs from the bank has advantages and disadvantages. From the pros, you can distinguish:
- settlement in stores;
- bonuses and accumulations;
- Grace period;
- minimum requirements;
- clearance of large amounts;
- many payment options;
- Internet banking;
- registration of an online application.
Among the shortcomings are high interest rates, instability of the exchange rate (if the dollar card). There is also a commission for cash withdrawals.
Offer from Sberbank
Do Sberbank credit cards work? They are considered the most popular among Russian citizens, therefore they function without interruptions throughout the country. The card has a grace period during which you can use the funds without interest. Sberbank determines this period for 50-60 days.
If it was not possible to return the funds for the grace period, then you need to make a minimum payment. It includes the bulk and interest. If this is not done, then a penalty is charged for each day.
In Sberbank, you can pay a debt in several ways:
- by transfer from an account or card;
- replenishment through terminals and ATMs;
- message to number 900;
- through the Sberbank-online service;
- electronic wallets.
Some methods charge a fee. But their size is different, so you can always find one that is ideal for the card holder. The client has a limit that you can use. Usually its size depends on the program conditions. Amounts in the range of 60-600 thousand rubles are offered for many. If a stable payment is observed, then the limit may increase. The client himself can make such a statement. Then solvency documents may be required. It is also possible to reduce the limit.
Sberbank suggests using the “Thank you” program. The customer pays for purchases with a card, accumulating bonuses. Then they can be spent on paying for goods and services. You can connect to the program through the Sberbank-Online system.
Sberbank customers are offered management through their personal account. To enter, you will need a username and password that provides access to the site. In your personal account there is information about the card. From there you can make payments, send money.
Tinkoff
How does a Tinkoff credit card work ? You can issue it online, without visiting the bank. It is only necessary to leave a request, and after a while a solution will be provided. For borrowers there is a grace period of 55 days. If you pay the debt during this time, you won’t have to return the interest. A credit card is provided without guarantors and collateral.
Internet banking is free. With it, at any time you can get information about the status of the account, pay the debt and perform other operations. The minimum payment is 6% of the amount. The credit limit automatically increases with timely payment and active use of the card.
New customers are set a minimum limit. But then it can increase to 300 thousand rubles. You can use the card all over the world. It proposes the transfer of funds from one currency to another, only a commission is charged for this. It is necessary to pay the loan on time, and then no additional interest will have to be paid.
"Alfa Bank"
How does Alfa Bank credit card work? Customers are offered a grace period of 100 and 60 days. Cards are available from 18 years old. Only a passport and SNILS will be required. For registration, you must have an income of 9 thousand rubles (for Moscow) and from 5 thousand rubles (for other regions).
The interest-free period is 2 types depending on the card. For this period you do not need to pay interest. To do this, you must make a minimum payment every month and pay the card debt before the end of the period. The interest-free period resumes every time after 60 or 100 days. The minimum payment is 5% of the amount owed. You need to make it every month. The billing period is 20 days.
You can pay for purchases with a credit card from Alfa Bank, or you can withdraw funds, but a commission of 3.9-5.9% is set for this. The cash limit is 60-200 thousand rubles. The specific amount is set by the bank individually.
To get a card, you need to fill out an application online and after 10 minutes get an answer. If a positive preliminary decision is received, you need to contact the bank with the documents. There, a card will be issued that can be used immediately.
Credit cards are very convenient because they allow you to use funds immediately after registration. You don’t have to withdraw money right away, but pay for your purchases when necessary. It is advisable to take advantage of the benefits provided, for example, a grace period, and then you will not have to overpay.