How does the bank's credit card work?

Many banks offer their customers credit card processing. But before using them, it is necessary 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 subtleties of a financial product.

Definition

A credit card is a bank product offered to customers of a financial institution. On it you can take a loan for a certain amount and time. The service is similar to a standard consumer loan, but still has its differences. How a credit card works, you can find out by conditions, requirements, principles of providing.

Conditions

This is set by the bank. Each institution offers its own conditions. Somewhere they are beneficial for people, and somewhere - no. How does a credit card work in most banks? She certainly has a rate, a limited time and amount. In some, there is a grace period.

The average rate on Russian banks is in the range of 24-35%. Not always a low percentage means a benefit, since an additional amount can take up insurance. The crediting period is usually 3-5 years.

Requirements for borrowers

To receive a credit card, the 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 it is necessary to submit a certificate of income. Usually loans are issued without sureties and collateral.

Receiving

How does the credit card work in the issue of receipt? Banks issue it in different ways. Often plastic is provided in the bank with a personal visit. Often, it is 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 such services only operate in large cities. To receive, you must apply in the office or online. Sometimes a convenient delivery option is offered.

Documentation

Depending on the bank, the following documents may be required:

1. Passport.
2. INN.

Sometimes you need the availability of additional securities, for example, when a large loan is requested, a certificate of employment is requested.

Features of work

To understand how the credit card of Sberbank or another institution works is very simple. It functions in the same way as the standard wage rate. You can withdraw funds through an ATM, if you need cash. Also it is possible to pay in stores for purchases and services.

Only you need to know before registration what percentages are charged in each case, since the rates for cash withdrawal and for non-cash settlement are usually different. It is necessary to pay the debt in a timely manner so that there will not be penalties charged, because of which it will be necessary to return a large sum.

Grace period

How does the grace period of a credit card work? This function is available in almost every bank. This is the period during which you can pay the 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 established on the basis of the client's income. Some banks offer special cards, for example on auto loans. Then the limit can reach up to 1 million rubles.

The limit is determined by the specifics of the bank's work, as well as by the proposal. Why the credit card does not work, you can find out from the employee of the institution. This can be due to various reasons, for example, with the lack of activation.

How to use?

Will credit cards work to pay for purchases? They are meant for this. Some banks have bonus systems that provide benefits to customers.

You can withdraw money through ATMs. If the device belongs to the bank, then commissions for such services, as a rule, will not be. If the apparatus of another institution, there will be a collection, 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 make funds in several ways:

1. Through the terminal of any bank - a commission of 2-5%.
2. Depositing funds using transfers from other cards.

If the funds are not paid in a timely manner, the percentage that is valid under the contract will be set. It can be fixed. Usually a clear rate is set, specified in the contract, which is signed at the time of registration of the loan.

Some banks are granted a deferral if the client does not have the opportunity to pay the debt. Only this must be warned in advance. When untimely payment deteriorates the credit history. Then in the future it will be difficult to get a loan from this bank.

Advantages and disadvantages

The use of such programs from the bank has advantages and disadvantages. Among the advantages can be identified:

• Settlement in stores;
• Bonuses and savings;
• Grace period;
• Minimum requirements;
• Registration of large sums;
• Set of payment options;
• Internet banking;
• Registration of the online application.

Out of the shortcomings high interest rates, instability of the exchange rate (if the dollar card) are allocated. There is also a commission when withdrawing cash.

Offer from Sberbank

Do Sberbank credit cards work? They are considered the most popular among Russian citizens, therefore they operate without interruptions throughout the country. The card operates a grace period, during which you can use the funds without accrual of interest. Sberbank determines this period for 50-60 days.

If you can not return the funds for the grace period, then you need to make a minimum payment. It includes the main part and interest. If this is not done, then a penalty is charged for each day.

In Sberbank, you can pay the debt in several ways:

• Transfer from an account or card;
• Replenishment through terminals and ATMs;
• Message to number 900;
• Through the service "Sberbank-online";
• Electronic wallets.

In some ways, fees are charged. But their size is different, so you can always find one that is perfect for the cardholder. The client has a limit that you can use. Usually its size depends on the program conditions. For many, the amount is offered in the range of 60-600 thousand rubles. If there is a stable payment, then the limit may increase. With such a statement, the client can also turn. Then, documents on solvency may be required. There is also the possibility of reducing the limit.

Sberbank proposes to use the "Thank you" program. The customer pays for purchases with a card, accumulating bonuses. Then they can be spent on payment for goods and services. You can connect to the program through the Sberbank-online system.

Sberbank's clients are offered to manage through their personal account. Login requires a username and password that provides access to the site. In my account there is information about the card. From there you can make payments, send money.

"Tinkoff"

How does the "Tinkoff" credit card work ? You can register it online, without visiting the bank. It is only necessary to leave the application, and after a while a solution will be provided. For borrowers there is a grace period of 55 days. If during this time to pay the debt, the interest will not have to be returned. The loan is provided without guarantors and collateral.

Internet banking is free of charge. With its help at any time you can get information about the state 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 suggests the transfer of funds from one currency to another, only for this commission is charged. It is necessary to pay the loan on time, and then no additional interest will be paid.

"Alfa Bank"

How does the Alfa Bank credit card work? Clients are offered a grace period of 100 and 60 days. Cards are available from the age of 18. It will take only the passport and SILLS. For registration it is necessary to have an income of 9 thousand rubles (for Moscow) and from 5 thousand rubles (for other regions).

The interest-free period is 2 kinds depending on the card. During this period, you do not need to pay interest. To do this, every month, make a minimum payment and before the end of the period to pay the debt on the card. The interest-free period is renewed every time after the expiration of 60 or 100 days. The minimum payment is 5% of the debt amount. Make it every month. The payment period is 20 days.

Credit card from "Alfa-Bank" you can pay for purchases, and you can withdraw funds, but for this commission is established - 3.9-5.9%. The limit of cash is 60-200 thousand rubles. A specific amount is set by the bank individually.

To receive the card, you must fill out the application online and receive a reply in 10 minutes. If there is a positive preliminary decision, you need to contact the bank with the documents. There, and will be issued a card that can be used immediately.

Credit cards are very convenient, because they allow you to use the funds right after registration. You can not withdraw money at once, but pay for them when you need it. It is advisable to use the benefits provided, for example a grace period, and then you do not have to overpay.