Today, every bank offers a credit card with a grace period . But most of them provide 60 days for interest-free use of the loan. However, there are products on the market with more interesting terms of service. One of them is a “100 days without interest” credit card. Alfa-Bank offers interesting conditions for customers.
Grace period
Credit cards provide a period of time during which the client can use borrowed funds without paying interest if certain conditions are met. The main one is to close the debt before the end of the grace period. Otherwise, the bank will deduct interest.
It is also important to pay attention to which operations the grace period applies to. Usually we are talking only about cashless payment for goods. In case of withdrawal of cash from the card, the grace period is reset.
Terms of use
The calculation algorithm is also of great importance. A grace period of up to 120 days does not mean at all that the client can use the entire amount today, but return the debt in three months. The exact period depends on the date on which interest calculation begins. The grace period does not cancel the borrower's obligation to make a monthly payment.
Features
Let us consider in more detail how the Alfa-Bank card “100 days without interest” differs from other similar products on the market.
The grace period applies to all types of operations, including cash withdrawals from ATMs. A three-month deferment in interest payment is given only on traditional credit institution cards. This condition does not apply to co-branding and cards that support contactless payment technology. For such payment instruments, the grace period will be 60 days.
The card provides for a mandatory payment of 5% of the debt, but not less than 320 rubles. You need to transfer money to the account every month during the payment period. It starts from the date of conclusion of the contract and lasts 20 days.
The interest-free period starts from the day after the first purchase. After 100 days, you need to pay off all debts to a penny. If this requirement is violated, then interest will be calculated and the next grace period will not begin.
Alfa Bank: 100 Days Credit Card
Terms, interest, credit card "100 days", let's take a closer look:
- Type: Visa Classic.
- Issue: instantly.
- Technological features: 3D Secure.
- Interest on personal balance: none.
- Release Fee: None.
- Rate: 19% -32%.
- Maintenance fee: 1290 rub.
- Cash withdrawal fee: at any ATM: 6.9%, min. 500 rub
- Cashing limit: 60 thousand rubles. per month.
- In case of violation of the deadlines for payment of the minimum payment, a penalty of 1% is charged on a daily basis.
Where is the "100 days without interest" card issued? Alfa-Bank offers customers to issue a regular or preferred card at branches of a credit institution. How to do it:
- Fill out the form by providing up-to-date information and contact details.
- Wait for the response of the loan manager after 5 days.
- If the application is approved, contact the department to get a card.
Additionally, the following services can be connected:
- life insurance at AlfaStrakhovanie LLC - 0.8% monthly;
- Alfa-Chek - SMS notifications about all movements of funds in the account - 59 rubles.
Borrower Requirements
Alfa-Bank card with a grace period of 100 days is issued to customers over 21 years old. A potential borrower must have a monthly income of 9 thousand rubles. and work at the last place of work for at least 3 months. He must also have a local registration.
The interest rate is calculated separately for each client and depends on the documents of the borrower and credit history. The presence of a certificate of employment, a passport for a car, a passport with a note on a recent trip abroad, the VHI policy significantly reduces the percentage. An application for a credit card is issued if there are at least two documents, one of which must be a passport of a citizen of the Russian Federation.
Scheme of work
To better understand how Alfa-Bank’s “100 days without interest” credit card works, let’s take a closer look at the following scheme.
Suppose a contract with a client was concluded on November 22. Monthly, the 22nd date will be the reporting date. After 6 days, i.e. November 28, the customer paid for purchases in the store with this card. The grace period starts at 29 and will last 100 days, that is, until March 9.
In a month - December 22 - the client will receive an SMS notification in which the amount spent will be indicated. The next 20 days are allocated in order to make a mandatory payment (until January 11). Suppose the funds were credited to the account on December 28, but they only covered part of the amount owed to Alfa-Bank CJSC. Visa card with a grace period of 100 days continues to operate on preferential terms. If the client manages to pay off all debts before March 9, then one grace period will end and another will begin. If the entire amount of the debt is not paid on time, then interest will begin to accrue.
Where and how to find out the amount, date of payment? You can find out the amount of debt at any time from the statement received in the Internet bank, through the mobile application, in the department of the credit institution, from the employee of the call center.
Advantages and disadvantages
Having examined in detail all the nuances of using plastic, let’s summarize, do you really need a “100 days without interest” credit card? Alfa-Bank offers an interesting payment instrument. Three months of preferential use apply to all types of operations. Advanced users can manage the account directly through the Internet bank: check the balance, see the statement, transfer funds, repay the loan. Those who are “on you” with the Internet can activate the SMS-informing service and receive the same account statements directly to the phone.
There is another great advantage that the card “100 days without interest” has. Alfa-Bank offers its customers several ways to repay their debts: by wire transfer from any account, cash deposits through the bank's cash desk, ATMs, Eleksnet terminals, CONTACT, Rapida, and Gorod systems. To complete the transfer you only need to indicate the card number and name of the recipient.
There is only one drawback that the card “100 days without interest” has. Alfa-Bank charges monthly fees for SMS and online banking. Most lending institutions provide these services for free or for a nominal fee.
Other offers on the market
The maximum delay in interest payment (up to 200 days) is offered by Avangard with Visa and MasterCard credit cards. Any new client can get it, as well as one that has never used an overdraft. Monthly payment is 10%. If the account will be in arrears by the 19th day of the seventh month after the withdrawal of funds, then interest will be charged for all days of using the loan at an increasing rate of 24%. The maximum limit is 150 thousand rubles.
Promsvyazbank on the Supercard offers 145 days of preferential use of plastic. The offer is relevant only for new customers and only for the first transaction. All subsequent ones will be calculated based on 55 days. The grace period starts from the moment the card is issued. Upon completion, the rate increases to 34.9%. The maximum credit limit is 600 thousand rubles.
Up to 65 days
All further considered cards are provided with a grace period of less than 100 days. But each of them is interesting to the client in its own way.
Rosbank issues an iGlobe card, which provides for 62 interest-free days. Using this payment tool, you can book travel services through iGlobe service without reference to airlines. The credit limit ranges from 300 thousand to 1000 thousand rubles.
The Lukoil-Uralsib card not only provides for a grace period of 60 days, but also the first year of service is provided as a gift. When refueling at Lukoil gas stations, a loyal system of discounts is applied. The standard rate is 24%.
A deferment of 55 days in interest payment is hardly surprising. But each of the following sentences is unique in its own way.
The credit card of Yar Bank is valid for free for the first year. After 55 days, 17.5% is credited to the balance. The maximum credit limit is one million rubles.
Inveterate gamers can appreciate the Kanobu Tinkoff Bank card. In addition to the renewable limit of 700 thousand rubles. plastic holders receive a 10% discount on the Kanobu website. The client will have to pay 5% for cashing out funds. At the end of the grace period, the rate for using money will be 23.9%.
Binbank has developed a special offer for tourists. The Whole World Card gives you the opportunity to accumulate and spend miles in affiliate networks. The renewable limit ranges from 50-100 thousand rubles. A rate of 22% is provided for the use of credit funds, and 2.5% (minimum 250 rubles) for withdrawing money from an account. Additionally, customers can activate the SMS informing service for free.