Instructions for beneficial use

Having understood exactly how a card with a grace period works, each consumer will be able to assess whether it will be beneficial for him to use this type of loan. And here there are many points to consider.

Firstly, it would be absolutely wrong to assume that the conditions for using all credit cards with a grace period in different banks are the same. Yes, they are similar in many ways, but still each bank has several important nuances that greatly influence the final cost and return date of such a specific one. And here we strongly advise against relying only on the explanations of the specialist who issues you a card at the bank, since, as practice shows, they themselves often do not fully understand the algorithm of the grace period configured in the program of this particular bank. And for the mistakes of others, and for conditions that you yourself misunderstood (including conditions that were completely overlooked), only you and no one else will pay in rubles.

Therefore, in each bank we recommend that you independently read the terms of the agreement, the Rules for working with the card (if they exist separately from the agreement), and the Collection of Tariffs, trying to fully understand every phrase there. Pay attention to when loan interest begins to accrue, when and how much loan funds need to be repaid, especially if you regularly pay with a credit card and do not use the loan once during the grace period.

Secondly, it is very important to correctly correlate the dates of receipt of your own income (salary, advance payment, business income, etc.) with the date of repayment of the card debt. That is, if you receive a salary only once a month on the 30th, then you are unlikely to be able to use a loan in an amount greater than your monthly income for free for all 50-55 days, since 50-55 days of the grace period is still less , than 2 months. But if you hope for 0% benefits, then you will have to repay the debt to the bank 5-10 days earlier than you receive your salary.

• If you want to enjoy an interest-free rate for as long as possible, it is better to use credit funds in the first days of the month;
• Don't use more than your household income for one month, even if you can spend more. For example, when calculating a comfortable loan amount, take into account the necessary expenses of the current month for food and other obligatory payments (rent, taxes, transport, etc.). Do not take out more than 50-80% of your total family income on a card loan (each family has its own calculation). Or have an additional source that will allow you to “intercept” some amount for a few days;
• Pay off the loan in full on the day you receive your salary, then after a couple of days you will be able to “get into debt” again, but without paying interest on the loan;
• Eliminate or minimize the loan amount during vacation, because when you go back to work, you will most likely be given a full salary in 1.5-2 months;
• Make your own plan, where: fix the day you receive your salary, equate the debt repayment day to the same date, mark the best days to take out the next loan (preferably 1-3 days after repayment of the previous one), keep in mind that your salary may be delayed by several days, and the date of crediting funds to the loan account at the bank does not always coincide with the date of making your payment through payment systems (purely technologically, there may be gaps of 1-5 days).

In the banking market today, most often there are cards whose grace period is announced as “up to 50” or “up to 55” days. Pay attention to the prefix “before”, which means that, for example, if you used credit funds on April 1st and April 20th (two different amounts), then you will need to repay them before the 25th May (i.e. the next month), as will be stated in the contract. Those. in this case, the benefits last 55 days for the first amount and 36 days for the second, if you decide to repay both of them at once on May 25, although this can also be done earlier. As a rule, the grace period begins on the 1st day of any month, regardless of the date on which you started taking out loans. Although other conditions may also occur.

Less often, but you can still find cards with a grace period of a maximum of 60 and even 100 days. At first glance, this is better than 50-55 days. However, here it is important to evaluate the regularity of your salary receipt for these two or three partial months and the accuracy of the crediting of your repayment payment to the bank’s loan account no later than the date set by the bank, as discussed above. In other words, if the regularity and amount of your total income is the same for both 50 days and 60 days, then there is no difference for you. Also, when calculating the frequency of receiving your salary, keep in mind that almost always two adjacent months give a period of 30+31=61 days. In addition, as a rule, the longest interest-free periods are established in Gold or Platinum class cards, whose annual service rates do not fall below 3,000 rubles, and are often much higher. Or only VIPs with above-average income can become status card holders.

Now let’s look at it in detail - how the end date of the grace period is usually calculated, beyond which you would not want to “go beyond”, so as not to pay credit interest at all, which, by the way, is very high in this type of loan. At first glance, everything is simple - this date is clearly stated in the contract, for example, as the 25th day of the month following the month in which the purchases were made on credit. But, as they say, “the devil is in the details.” In order not to miss, here you need to carefully read, as they say, “all the letters” of the contract and the Rules, if they are an integral part of the contract. There may be several options. Unfortunately, banks do not have clearly defined terminology for naming the options, which makes it even more difficult for their clients to understand the difference in conditions, and contracts are sometimes written in such language that not every financier will immediately understand the nuances. Let's look at the two most common options.

Let’s say you spent the loan funds throughout April or only on April 20th, it doesn’t matter. At the beginning of May, on the 5th, you again fell into debt. By what date is it advisable to repay a loan taken in installments, moreover, in different months? Let’s agree that the contract specifies a grace period of up to 55 days and a repayment period of up to the 25th.

Option No. 1. In this case, before May 25, you need to repay the bank for everything that was used in April, and before June 25, you need to repay everything that was used in May. Moreover, you can repay debts the next day after receiving the loan, immediately borrow again, but by the 25th you can “break even” on all debts of the previous month alone. It is important that you meet the credit limit (amount limit) of one month (from April 1 to April 30 or from May 1 to May 31), which is also called the settlement or reporting period. In this case, 25 days of the next month can be called (according to the terms of the agreement) a payment period.

Option #2. Here, all debts incurred from April 1 to May 25 fit into one credit limit and must be repaid “to zero” by May 25 inclusive. And only after resetting to zero on the 25th, you can again “climb” into the new credit limit without fear that interest will be charged. Despite the simplicity of the description, experienced cardholders call such conditions “dishonest”, because money borrowed even on May 24 must be returned on May 25 (if there were also expenses in April), and the remaining five May days (from 26 to 31) are included in the next grace period, thus shortened to 30 days. But for it to be long, you need to pay off the debt “to zero” long before the 25th.

Let us remind you that the tips described above are good for avoiding the bank charging you lending rates. If you still fail to comply with the grace period for repaying the debt, the bank charges interest for the use of borrowed funds. Moreover, even if you managed to pay 99 out of 100 borrowed rubles by the 25th, you did not clear the debt completely and remained a debtor. Therefore, from the 26th, you are already charged interest, which is calculated for all days of actual use of borrowed money for all 100 rubles, starting from the moment when they were actually spent, and not from the 26th. Because on the 26th, only the process of calculating credit interest to the debtor begins, but not the actual loan period.

In case of violation of preferential grace, the debt period is divided into several parts, depending on how many times you used the credit card, how much and in what amounts you repaid the debt, in order to calculate interest accurate to the day. For this case, special conditions may be prescribed, for example, a minimum monthly payment amount.

Other fees and conditions on which the total cost of the loan depends

Such subtle details especially need to be understood when you consider that the operation of withdrawing cash from banks is always paid when it comes to a credit card with a grace period. This commission is very significant and amounts to approximately 3-7% of the withdrawal amount. This rate is different for each bank, and even if you withdraw 100 rubles, you will most likely have to pay a certain minimum of 150-250 rubles. Please note that this commission also applies to non-cash transfers to other accounts or to another bank. The only exception may be non-cash payments by card at retail and service points (via a card reader at the store checkout), incl. in the Internet.

Details of the collection of the above commissions should be found in the bank's tariff book, in the section relating to your card, even if this document looks like a thick ledger. These commissions are fixed for all clients. But the bank calculates the exact loan rate that will be charged specifically to your person, as well as the maximum credit limit, for each person individually, based on the person’s solvency. The minimum rate on a credit card that can currently be found on the market is 19%, however, the maximum level can go beyond 60% per annum.

Experienced credit card users, firstly, carefully study all the conditions of a particular bank, and secondly, use a card with a grace period only for regular payments in stores, even in small amounts, and do not withdraw the entire credit limit at once at an ATM. Otherwise, the whole point of the grace period is lost, since the cost of servicing the loan increases incredibly, becoming too expensive and therefore unprofitable, especially compared to the terms of a regular consumer loan.

Among those points that you should definitely pay attention to, because they change the benefits of using this type of credit card, we will name: possible insurance, SMS notification, auto payment, reminder of the expiration date, card issue and maintenance fees, use of the Internet banking, a fine for late payment in the event of overdue debt (not to be confused with exceeding the grace period). Some of the above may be free. By the way, some banks allow you to store your own funds on the card, in addition to credit funds. But it often happens that for withdrawing cash even from your own funds, the bank charges the same commission as for cashing out credit funds.

Banks often provide such a service through your personal Internet banking, as a debt repayment schedule. You can also find out the total debt and the date of the next payment through an SMS request or a call to the call center. Remember that the repayment payment is not credited immediately, but in most cases the next day (option without the participation of a payment intermediary). Therefore, in order to quickly use the loan again, it is advisable to make sure that the previous amount is credited to the loan account, which is not the same as the card account.

Commission fees when repaying a loan deserve special attention. If you deposit money directly into a bank cash desk or from another account in the same bank via the Internet or mobile banking, then most likely (but not a fact) the operation will be free for you. But the presence of a third-party intermediary in this chain (payment system, another bank, payment terminal) will result in additional costs, and sometimes quite noticeable ones, not to mention the fact that the money can end up in the desired account of your bank in 1-5 calendar days.

Our last secret will help you turn your credit card into a profitable one. Look for a card with a cash-back function, in which part of the funds (0.5-3%) is returned to the client’s card if he pays for purchases in certain stores. But you will have to familiarize yourself with their list in advance so that your expectations are truly met. By the way, some bank clients skillfully transfer part of the credit funds to a deposit or a piggy bank card, if there is no commission for the non-cash transfer of credit funds (which, we note, is very rare). True, in any case, you will still have to regularly repay the debt, fitting, in the best case scenario, within the interest-free grace period.

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Under credit for 50 or 55 days We understand the grace period, which we previously wrote about in the material “?”.

It would seem, what differences might there be in the grace period in different banks? Pay with a credit card in a retail chain, withdraw cash from it - and repay the loan within 50 days without interest or commissions!

But not everything is so simple - and each bank has its own secrets and pitfalls interest-free loan for 50 - 55 days. Let's look at these features using specific examples of several of the most famous banks in Russia.

Bank "Uralsib"

The grace period for the card in this bank provides for payment for goods using the card in one month and full repayment of the loan without interest until the end of the next. The “end” of the next month is considered to be the last working day.

Let’s say that on January 20 you used a credit card to make several purchases in a retail chain in the amount of 10,000 rubles. Do you want to repay your loan without interest? Then pay the full loan amount before February 27 (since the 28th falls on a Saturday).

To prevent the card from becoming overdue, you need to deposit 10% of the loan amount into its account within 40 days after the end of the reporting period (month) in which the purchase was made.

For the convenience of its clients, Uralsib generates two types of statements for clients every month:

1) the minimum amount of payment and the deadline for making it;

2) full repayment during the grace period.

Preferential transactions in this bank include all card transactions. The average annual rate is 21%, and the maximum loan size is half a million.

Raiffeisenbank

Grace period at Raiffeisenbank (50 days) is calculated according to a completely different scheme: reporting period (from the seventh to the seventh day of each month) + 20 days.

Why is this bad for the credit card owner? Let's look at a specific example again.

Let's take the month of March. If you used credit funds on March 18, you fell into the reporting period “from March 7 to April 7.” This means that you can repay the loan without interest until April 27 (7 + 20 days). By the way, if April 27 is a day off, then the grace period is extended until the coming Monday.

But if you resorted to using a credit card on March 4, then you fell into the reporting period “from February 7 to March 7.” And you will need to close the loan completely without interest before March 27, that is, 23 days after receiving it.

To avoid defaulting on your credit card, you need to repay at least 5% of the debt during the grace period. And, by the way, the grace period at Raiffeisenbank does not apply to cash withdrawal operations from the card.

The average annual interest rate on the card is 27%, the maximum possible credit limit is 360 thousand rubles.

Bank "Avangard"

The grace period on the card is a maximum of 50 days. The duration of the “benefits” is calculated more simply than in the previous case. You just need to repay all debt to the bank by the twentieth day of the month following the reporting month.

If you paid with a credit card on March 3, pay off the debt without interest until April 20. If you used the loan funds on March 28, the grace period will remain the same (until April 20).

With this scheme for calculating the grace period, it is clear that it is more profitable for the borrower to use a “plastic loan” at the beginning of the month - there is more time left for interest-free repayment.

In order not to fall behind, you need to deposit at least 10% of the debt into the card account by the end of the next month (in our example - until April 30) + accrued interest + fines and penalties (if any).

At Avangard Bank, the grace period does not apply to many card transactions: cash withdrawals, payments for housing and communal services and electricity.

The loan rate directly depends on the repayment period: from 15% per annum in the first month of repayment to 24% in the sixth. In other words, the faster you pay off the debt on such a credit card, the less you will overpay in interest.

OTP Bank

Grace period is 50 days, with the first day of the reporting period depending on the card activation date. The grace period is calculated as 30 days of the reporting period + another 20 days.

For example, you activated your credit card on May 3. Now your reporting period will always look like “from third to third”. We add 20 days to this figure and we get the end date of the grace period.

The scheme is similar to the Raiffeisenbank system. The only difference is that in OTP Bank the start date of the grace period may differ for different clients (depending on the card activation date), but in Raiffeisenbank it is always “from the 7th to the 7th”.

The minimum payment on an OTP Bank card is 5% of the debt balance, the annual interest rate starts from 17% per annum, the maximum credit limit is 150,000 rubles.

Bank interest is traditionally charged for cash withdrawals.

Promsvyazbank

(The bank was noted by us in the material “” in the mortgage section).

The grace period in this bank is calculated more or less clearly: from the first to the first of each month + 20 days. In other words, whenever you use credit funds, you can pay them back without interest until the 20th of the next month - in my opinion, this is quite convenient and understandable for everyone.

If you cannot repay the debt in full within the grace period, you will have to make the minimum payment by the 27th, along with accrued interest for all days of using the loan funds.

Roughly speaking: if you invested during the grace period, you paid back the entire amount of the debt without interest. There is not enough money for the full payment - the grace period is cancelled.

The good news is that absolutely all types of card transactions fall under the category of “preferential transactions” at Promsvyazbank.

The maximum loan size is 350 thousand rubles, the rate varies between 27-29% per annum.

The grace period for VTB 24 credit cards is calculated in the same way as in the previous case (reporting period from 1st to 1st + 20 days) and applies to all transactions without exception.

The minimum payment is 5% of the outstanding balance. It must be deposited into the account no later than the 20th day of the month following the reporting month.

After the end of the grace period, the annual interest rate on the loan is 21-28% per annum for each day of use of earthly funds from the very first day the debt arose.

The maximum loan size is 600 thousand rubles.

Citibank

The grace period cannot exceed 50 days. The reporting period automatically starts from the date of the first transaction on the card, but it can be changed if desired.

To take advantage of the grace period, you must pay off all card debt within 20 days of your last bank statement.

The grace period does not apply to transactions that are in any way related to cash, as well as to all transactions under the “Pay in Installments” program.

The monthly minimum payment depends on the type of credit card. Typically, this is 5% of the card balance shown on your last statement plus all interest, fees, past due balances and regular installment payments.

If the last day of the grace period falls on a weekend, it is automatically extended until the next working day.

Alfa Bank

The grace period for this card is valid for 60 days from the date of the first use of the credit card, which “opened” a new debt to the bank.

For example, the borrower used a credit card on March 10. Accordingly, all transactions on the card that will be carried out before May 10 are subject to the grace period. To ensure that interest on all these transactions does not accrue, you must fully repay the entire debt. Moreover, this must be done no later than the next day after the end of the grace period (in our example, this is May 11).

Another condition for the grace period is that you need to make a minimum payment to the card account every month (10% of the total debt, but not less than 320 rubles).

The interest rate on a credit card depends on the currency of the credit card and the set of documents provided and can reach 29% per annum. The maximum credit limit is 450 thousand rubles.

Sberbank of Russia

The grace period can last up to 50 days and is tied to the date the card is issued to the client (it is impossible to change the date later).

Grace period does not take into account transfers and cash withdrawals.

The minimum payment is 10% of the debt + interest on the principal amount + penalties and commissions. The annual interest rate is 23-24% per annum.

UniCredit Bank

Grace period - 55 days. The reporting period is the time from the first to the first of each month. Thus, you can completely pay off your card debt without interest until the 25th day of the month following the reporting month.

The minimum payment on the card is ten percent of the outstanding balance. Grace period does not apply to cash withdrawal transactions.

Annual interest rates on the loan range from 26.9% to 29.9% per annum, the maximum credit limit on the card is 400 thousand rubles.

Svyaznoy Bank

Grace period - 55 days, and at the time of receiving the credit card, the client can choose the dates of the billing period from three options:

— from the 16th to the 15th;

— from the 21st to the 20th;

- from the 26th to the 25th.

Depending on the option chosen, you will need to fully repay your credit card debt without interest by the 5th, 10th or 15th of the next month, respectively.

The grace period applies only to non-cash card transactions in trade and retail chains.

The minimum payment on the card depends on the chosen tariff and can be two, three or five thousand rubles until the end of the payment period. Loan rates can be as follows: 24%, 36% or 48% per annum.

The largest loan amount is 100,000 rubles.

"Russian standard"

In this bank, Grace period on the card is 55 days. Its validity period is calculated as follows:

— start: the next day after the card transaction is reflected;

— end: 25 days after issuing the invoice statement.

For example, on February 4, a bank client made a transaction using a card, and on March 4, he received a statement on it. In order not to pay interest to the bank, the borrower is obliged to repay the entire debt within the next 25 days - that is, until March 29 inclusive.

The grace period does not apply to cash withdrawal transactions.

The minimum required payment is 3-4% of the debt (depending on the chosen tariff). This payment must again be made within 25 days after the statement is generated (in our example, before March 29).

Credit card annual interest rates range from 12% to 36% per annum.

Tinkoff Credit Systems

The grace period is 55 days. The countdown starts from the day the purchase is made using the card. In order not to pay interest on the loan, you need to repay the entire amount of debt that is indicated in the statement (the client receives it monthly).

The minimum payment on the card is 6% of the debt amount (but not less than 600 rubles). The maximum loan size is 300 thousand rubles. And don't forget to check out.

Marina Dunaeva,

personal lending specialist

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Today I will tell you what it is grace period for lending, how it is calculated, what it is, and how to use it in a way that benefits you and not the bank. The grace period is associated only with lending through, I have not yet heard of it being used in any other credit products. So, let’s look at what it is, why it’s interesting, and what “pitfalls” it is fraught with.

What is the grace period of the loan?

The grace period for lending is the period for using an overdraft on a bank card, during which the borrower does not accrue interest on the loan.

This parameter did not appear immediately, but as a result of the competition for customers between banks issuing credit cards. It is also worth understanding that the grace period of the card is a well-created advertising ploy that attracts wide sections of the population to use this product. Of course, who wouldn’t want to use the bank’s money for free?

How is the credit grace period calculated?

The grace period for a card can be calculated in several ways; let’s look at the most common ones.

Method 1. Grace period + billing period. In this case, the grace period of the loan consists of two parts:

1. Direct grace period (usually 1 month, 30 days or until the end of the current month);

2. Billing period – the period during which it is necessary to repay the loan taken so that interest does not accrue (usually from the 1st to the 25th of the next month).

This method of calculating the grace period of a card is the most common at the moment. In this case, the grace period is up to 55 days (up to 30 days grace period + up to 25 days billing period).

For example, a bank declares a grace period for card lending, calculated using this method, up to 55 days. The person used the loan money on April 1. This means that he will have a grace period until May 25. If he used the loan money on April 30, the grace period will also be until May 25.

Method 2. Counting from the day of the first transaction with credit funds. In this case, the credit grace period is counted from the day of the first transaction with a credit card and does not depend on the duration and timing of the billing period. In other words, the grace and billing periods in this case coincide.

For example, a bank declares a grace period for lending, calculated using this method, as 30 days. The person used credit money for the first time on April 5. This means that he will have a grace period until May 5. If he partially used credit money on April 5, April 10, April 20, April 30, then in order to avoid interest charges, he must repay all these amounts before May 5.

Method 3. Counting from the day of each transaction with credit funds. With this method, the grace period on the card is counted for each transaction separately from the day it was completed. Only when using this calculation method will the duration of the grace period for each transaction be the same.

For example, the bank declares a grace period calculated in this way as 30 days. A person took out a loan of 1,000 rubles on April 5, 2,000 rubles on April 10, and 500 rubles on April 20. This means that in order for him not to accrue interest on 1000 rubles, he must repay this amount before May 5, in order not to accrue interest on 2000 rubles, he must repay them before May 10, and in order not to accrue interest on 500 rubles, he must close this amount before 20 May.

Banks may use other methods to calculate the grace period for lending. In addition, a grace period may be applied, for example, only when making payments by card in a trade and service network, but not when withdrawing cash, sending money transfers, transferring funds to other client accounts, etc. Why is that? Everything is very simple: when paying with a card in a trade and service network, the bank receives a certain commission from the store for acquiring, that is, it still has some income from the money issued.

In any case, the exact algorithm and rules for calculating the grace period must be indicated on the bank’s website, in the agreement on the use of a credit card or in the tariffs.

What is the grace period for lending?

If we talk about the length of the grace period for lending, it can be different, based on the methods of calculation and the policy of the bank. Most often you can find a grace period on the card of up to 55 days (with the first payment method), 30 days (with the second and third payment methods). It can also be different, for example, 50 days, and in some cases it can be up to 90 days.

How to properly use the grace period of the loan?

If you correctly approach the use of the card’s grace period, then you can actually get it, and in different ways, and not only for a short, but also for a long period (more about this in the link).

But much more often, people simply buy into the big words “grace period”, not understanding how it is exactly calculated and how to use it correctly, so in fact they do not have any benefits, but pay for the loan what the loan agreement stipulates.

Banks are, of course, not charitable organizations, so they think through the conditions for using the grace period so as not to “offend themselves.” In particular, in the vast majority of cases (and maybe even always) the following principle applies:

In order for interest not to accrue after the grace period, the loan must be fully repaid during this period. If even a small part of it remains outstanding, after the end of the grace period, interest is accrued on the entire amount of the original debt and for the entire past period. In addition, some additional fees may apply.

All this is stipulated in the terms of the contract and tariffs, so it is necessary to study them most carefully!

For example, a person takes out a loan on April 1, the grace period is until May 25. A person repays the loan in full on May 26, and he is accrued interest not for 1 day, but for 56 days of using the loan.

Another example: a person takes out a loan of 1000 rubles on April 1, the grace period is until May 25 inclusive. On May 25 he repays 990 rubles. On May 26, he is accrued interest on 1,000 rubles for the entire period from April 1 to May 24, and interest begins to accrue on 10 rubles from May 25.

There are several important rules that should be strictly followed when using a card with a grace period.

Rule 1: If you are not 100% sure that you will be able to repay the loan during the grace period, do not take it. This is quite logical, if you act on the principle of “I’ll take it and see what happens,” you will be constantly in debt and with a huge additional burden on you.

Rule 2: Do not leave repayment until the last days of the grace period. In this case, the payment may not be credited directly to the card, and you will still be charged huge interest for using the loan.

Rule 3. Don't withdraw cash from your credit card. Even if there is a grace period, you will immediately be charged a large commission for issuing cash, and you will already pay too much to the bank, even if no interest is charged on the loan. In addition, be aware of the list of transactions that provide for a grace period - these may not be all transactions.

Rule 4. Repay your loan using free methods. It may well be that the card has a grace period for lending, but when repaying the loan (i.e. when replenishing the card), a considerable commission is charged. In any case, it will be charged if you deposit money, for example, through payment terminals or other banks. Therefore, exclude paid and expensive repayment methods, repay the loan directly from the bank that issued the credit card.

Rule 5. Sometimes a credit card with a grace period is less profitable than one without one. It is worth paying attention not only to the cherished words “grace period,” but to all the conditions together. And calculate which option will be more profitable for you. For example, if you plan to use credit money throughout the year, then a card without a grace period at 20% per annum on the balance of the debt will be more profitable for you than a card with a grace period of 55 days at 25% per annum on the balance of the debt.

You can read more about this topic in a separate article:

Now you know what a credit grace period is, what it can be, and how to use it correctly. The site takes care of increasing your financial literacy. Join the ranks of our regular readers and learn to manage your personal finances competently and effectively. See you again!

Instructions

In order to determine the procedure for using a credit card, it is necessary to clarify how exactly the grace period is determined. After all, in fact, promises that the credit limit will last 50, 60 or 100 days do not mean that the money will need to be returned within 50, 60 or 100 days, and not earlier.

Any credit card has a so-called settlement and payment period. In the billing period, the cardholder spends money, and in the payment period he pays off debts. The meaning of the grace period is that you can pay with credit money using a card and not pay interest and commissions for it, you just need to meet the deadline set by the bank.

The settlement period is determined differently in each bank. As a rule, its duration is the same everywhere - 30 days, but the starting point is different. This could be the date the card was received, the first day of each month, or the date of the first transaction (activation) on the card.

Then the payment period begins, during which the entire amount of the debt must be repaid. If the debt is not repaid in full, interest will be charged on the entire amount. The duration of the payment period can be 20, 30 or even 70 days. This period, together with thirty days of the billing period, constitutes a grace period of 50,60 or 100 days.

After the end of the first monthly billing period, the second billing period begins. Its duration is also 30 days. In this case, the same month can be both billing and payment. For example, you have a card with a limit of 50 thousand rubles. You paid with your card for purchases on January 1 in the amount of 20 thousand rubles. If the grace period is set within 55 days, then the debt must be repaid by February 25. Moreover, in February you can also make a purchase within the credit limit (30 thousand rubles). But this amount must be repaid before February 25, otherwise interest will be charged for using the loan funds.

Sometimes banks have a fixed payment period, for example, the 25th of each month. This means that if you spent money on June 20, your grace period will be only 5 days. The debt will have to be repaid by June 25. If you made a purchase on June 26, then you have a month to pay off the debt.

Less common is a grace period scheme, in which the debt must be repaid within 30 days from the date of purchase. For example, you made a purchase using your card on June 30, and a second purchase on July 15. Accordingly, you need a debt by July 30, and a second one by August 15.

If you do not have time to pay off the debt during the grace period, you must pay it off with minimum payments. Their size is individual for each credit card. It could be 3%, 5% or 10%. For example, with a debt of 20 thousand rubles. it is necessary to pay monthly from 600 to 2000 rubles. If the minimum payments are not made on time, the bank may impose a fine on the borrower, and information about the delays is transmitted to the credit history bureau.

note

The grace period may not apply to all transactions. Thus, according to the conditions of most banks, only transactions for non-cash payment for goods and services are included in the grace period. And for cash withdrawals, in addition to commissions, interest will be accrued based on the established rate.

Helpful advice

Try not to withdraw cash from a credit card, because... in this case, you will still have to pay a penalty fee.

Map- a drawing of the earth's surface made to a certain scale. This is a thing that travelers, pilots and military personnel cannot do without. The more accurate the map, the more accurate the size of the objects shown on it will be, and the more accurately you can measure the distances between them. But cards are different.

Instructions

A topographic map depicts those objects that you can see directly - buildings, vegetation, roads, rivers and seas. The detail depends on the scale of the map, which reflects how many times the size of an object plotted on the map is smaller than the size of the same object measured in reality. The higher the ratio, the finer and lower the detail. For example, if a topographical diagram with a scale of 1:500 displays all buildings, then a diagram with a scale of 1:5000 shows only those whose area exceeds 1000 sq.m. Such schemes are used for construction and reconnaissance work when a small area is being explored. Typically, these include diagrams at scales of 1:50000 and larger.

To study large areas, small-scale maps are used, which allow one to get an impression of entire regions, states and the whole world. The most popular are maps that display the location of settlements, highways, railways and terrain, the boundaries of regions, districts and states. This, as close to reality as possible, reflecting territories and water areas, serves as the basis for the creation of other thematic maps. The scale of such maps ranges from 1:5000000 to 1:20000000.

These thematic ones include, for example, a political map that shows countries, the shapes of their borders that correspond to real ones, as well as information about their state and political structure. When the status of a state changes, its political system, borders, and names of capitals change, appropriate changes are made to the political map.

The purpose of the map is to provide the most complete information on the issue to which it is devoted. There are maps of the road network, geological, economic, political-administrative, soil, vegetation maps and even density maps. All of them represent for everyone who studies the territories depicted on them.

Video on the topic

Many of us are already actively using credit cards or are seriously thinking about getting one. Credit card holders are familiar with the terms of the grace period (graceful, interest-free period for using the card) and the rates and commissions at their bank. But even an experienced user of credit products can suddenly discover a new charge from the card that he did not even suspect. What can we say about newcomers? So how can you get a credit card and make purchases with it painlessly for your wallet?

The main advantage of a credit card is that you do not have to go to the bank every time for another loan - the money is available at any time. In this case, credit cards are issued to individuals without collateral or guarantors, as required by ordinary consumer loans. Also, a big advantage of the cards is the grace period that the bank sets - as a rule, this is from 50 to 100 days from the date of use of credit funds, during which the card holder can repay the loan without any interest.

How are credit cards issued?

A credit card, like any credit product, requires consideration of the application by the bank. A pleasant feature has recently become the ability to issue a card via the Internet, and this procedure will be no different from the usual registration at a bank with a manager. To apply for a credit card, you just need to fill out a special form and leave all the necessary personal data, including your income level and place of work. Your credit history will, of course, also be taken into account. After reviewing the application, the bank makes a decision or requests additional information. If the card is approved, you can receive it from the bank or by mail (if the bank has such a service).

Features of use

Like any other bank cards, credit cards require a service fee. The basic cost, as a rule, does not depend on servicing debit cards, but may vary depending on the denomination of the card (standard, gold, platinum, etc.), features of the credit program and other special conditions of the bank. This amount is charged to the credit card either monthly or annually. There are also credit cards with free service. There are no tricks to this - the bank makes money on interest accrued on the credit line, on deductions from payment systems used by the client, for example, in stores, or on interest on cash withdrawals.

However, be careful in cases where the card is a limited-time special offer from the bank. Most often, the bank offers one year of free service, but after this period “forgets” to warn the client and completely legally charges the card for the next year, even if the holder did not intend to use the card further.

Let's return to the main advantage of credit cards - the ability to pay with bank money and not pay interest on the loan. In good, transparent banks, the grace period is not tied to any dates and begins the moment you start spending the loan funds. That is, you received a credit card with 100,000 rubles in your account. A week later, you spent 100 rubles from the card - your grace period for repayment begins from this day. As soon as you have repaid the loan and a day has passed, then when you spend funds from the card again, your grace period begins again.

Some banks offer less friendly conditions for interest-free loan repayment, tying the beginning of the grace period to a certain date of the reporting month. Then, depending on what day of the month you started using credit funds, the period of preferential lending will be determined. That is, the stated, for example, 60 days in this case is only a formal maximum.

In addition, when concluding an agreement, banks often do not tell clients that even if the loan is repaid on time, a fee is charged for its use. If, as a loyal customer, the bank has offered you a card with free annual service, be all the more careful - probably, instead of a service fee, the bank will charge interest on any amounts borrowed, despite the grace period. Also, some banks do not give a grace period if you withdraw money from an ATM.

Remember that you can use a credit card to make cashless payments for goods and services, but you cannot transfer funds to other accounts from this card. You can withdraw cash from a credit card at an ATM, but there is always a fee for this - usually from 2 to 5%.

What does a loan consist of and how much should you pay for it?

The most important question that worries everyone who uses credit cards is how much will they ultimately have to pay for it? Essentially, your payments have three main components.

Credit card rates are some of the highest.

If we talk about interest rates, then everything depends on a number of factors that the bank’s program provides for - the amount borrowed on credit, the period of its use, the account currency, etc. If the credit funds on the card are not used, then no interest is accrued.

Paying off credit card debt is done in one of several ways. You can deposit money either yourself in any amount or use direct repayment - when money from regularly received income (for example, salary) automatically closes the debt.

It is important to note that if with consumer lending you need to pay interest on the entire amount issued by the bank, in the case of a credit card only interest is paid on the funds actually used. Let us remind you once again that the accrual of interest on the loan begins only if the grace period has ended and the loan has not been repaid. That is, if you have 95,000 rubles left from 100,000 rubles at the end of the grace period, then you will be charged interest (according to your rate) on the remaining 5,000 rubles in your account.

Please note that even during the grace period, you must make a minimum loan payment in the amount of 5 to 30% of the funds actually spent by a certain date of the reporting month. This will definitely be specified in your agreement with the bank.

Features and advantages of credit cards

In addition to the grace period, which makes life much easier when repaying a loan, banks are constantly developing additional bonuses for their clients. This could be cash-back - accruing interest on spent funds back to the account, or reducing interest rates for regular customers, or affiliate loyalty programs.

The most popular are loyalty programs that make it possible to accumulate so-called “miles” for flights with certain airlines, as well as for any card transactions and spend them on air tickets and airline services. There are also co-branding programs that allow you to accumulate bonuses and spend them on certain goods or services, including mobile communications or even utility bills.

There is no question about the advisability of using credit cards - of course, they are worth using - it is convenient and safe. But, as with everything, you need to be careful, pay attention, read the agreement with the bank in full and do not hesitate to ask any questions. In addition, do not forget about proper planning of your family budget and do not buy something that you cannot pay for even with credit. If you use the loan carefully, remember the deadlines and make the necessary payments on time, then there are no risks, and you are in no way threatened by a debt trap.

The grace period (sometimes called the “grace period”) allows you to use credit on the card for free. The grace period applies to transactions for paying for goods and services using a credit card, including those made via the Internet, as well as transactions for paying for utilities. As a rule, it does not cover cash withdrawal operations through a cash register or ATM, transfers to electronic wallets of any payment system, transfers to other accounts, or payment transactions for the services of gaming houses and casinos.

Obviously, since such a service exists, it should be beneficial to banks. It is no less obvious that the service should also be useful to clients. In this case, banks are counting on the fact that you will not be able or want to repay the debt on time. As a result, interest will be accrued for the entire time from the moment the debt arose, and this is not to mention the fines that appear if you fail to make the monthly minimum payment. On the other hand, with a competent approach to the grace period, you will be able to use the bank’s money for free, while your own funds can gradually generate income on the deposit.

Most banks divide the grace period into two parts: 30 days, when you can make a purchase on credit, and the following 20-25 days, when the debt can be repaid. Thus, the maximum grace period for the loan can be up to 50-55 days, depending on the date of purchase.

Grace period = calendar month +

The grace period scheme described below is the most common. In accordance with it, the grace period is equal to the number of days before the end of the month plus 20-25 days following it. In this case, the minimum grace period will be 20-25 days, the maximum - 50-55. If by the 25th day of the calendar month following the billing month you do not repay the full amount of the debt indicated in the monthly statement, then interest is charged on the entire amount of the debt from the moment it arose. Moreover, in order to continue using the credit card, you need to make the minimum payment indicated on the statement (usually it is 5-10% of the amount owed). Otherwise, penalties will be applied.

Example:

March 1: a refrigerator in a retail chain worth 20 thousand rubles is paid for with a credit card.
April 1: You will receive a monthly card statement showing this amount.
March 1 - April 25: Your grace period will expire.

You can continue this example, based on the assumption that you suddenly did not repay the debt on time.

April 25: The bank charges interest for the entire term of the loan. If we take the average rate on cards with a grace period (25% per annum), then the amount of interest will be 753 rubles.

Sravni.ru advice: Don’t limit yourself to the minimum payment. Pay the full amount of the debt, otherwise interest cannot be avoided.

Grace period = billing period +

As you use your credit card, you will receive invoice statements that indicate all transactions carried out during the reporting period, as well as debt indicators calculated for this period. In some banks, the settlement period is not tied to a calendar month. Then the duration of the grace period for you will directly depend on how much the date of purchase lags behind the date of receipt of the last statement.

Example:

The bank statement arrives monthly on the 3rd.

March 1: you pay with a credit card for a refrigerator in a retail chain worth 20 thousand rubles.
March 3: the bank issued an invoice statement.
March 1 - March 23: Your grace period.

Sravni.ru advice: Carefully monitor the dates of statements and count the “grace days” from them. Do not tie the grace period to the dates of card transactions.

Grace period = calendar month + next

When applying this scheme, the grace period can be up to 60 days. The first month you make purchases using your credit card, but the next month you are required to pay for those purchases in full. The caveat is that if you have an outstanding debt for the previous month, you will not be able to use the grace period in the next month.

Example:

March 1 - April 1: you made purchases with a credit card for 20 thousand rubles.
March 1 - May 1: grace period during which you must pay the bank in full.

If, for example, on April 5 you spend 10 thousand rubles from your card, then the grace period will not apply to this amount. It will be possible to “turn on” only from May, having fully repaid the entire debt in April (i.e. 20 thousand rubles for March and 10 thousand rubles +% for April).

Sravni.ru advice: Set reminders on the last day of each month to repay your card loan on time. And in order to avoid unwanted interest when repaying a loan, always check the amount of your debt with a bank employee.

Grace period = date of first purchase on credit +

In some banks, the grace period begins to operate not from the beginning of the reporting period or calendar month, but from the moment the card transaction is completed. The period lasts on average up to 50 days: 30 days is the billing period, 20 days is the payment period.

Example:
March 14 - April 16: you made purchases for 20 thousand rubles.
March 14 - April 26: grace period.

To prevent interest on the loan from accruing, you must pay the full amount of the outstanding debt any day before April 26 inclusive.

Sravni.ru advice: Do not forget that despite the length of the grace period, the minimum payment must be made monthly.

Fixed grace period

A fixed grace period is set for each purchase separately. As a rule, its duration does not exceed 30 days. This scheme is typical for inexpensive cards.

Example:

March 1: you paid for groceries in the supermarket in the amount of 3 thousand rubles.
March 1 - March 30: Your grace period.
March 4: you purchased a cell phone for 15 thousand rubles using your card.
March 4 - April 3: your grace period for telephone debt.

Sravni.ru advice: Remember the dates of your card purchases in order to meet the deadline set by the bank. Otherwise, high interest rates cannot be avoided.

Remember that the grace period is a double-edged sword. Careful study of the terms of the loan agreement will help you turn the benefits to your side. Read the product description, understand which grace period scheme applies to your card. Always be careful and repay your card debt on time.