Choosing the best type of credit card. How to choose a credit card

August 2019

The popularity of such a banking product as a credit card is growing rapidly every year. The terms of their use and service are constantly improving due to the fierce competition among companies in the financial sector. Banks, in order to attract more customers, create more and more diverse and attractive loan products. In this article, you can find out which banks present the most profitable credit cards to their customers in 2020, as well as find out their main features.

What should you pay attention to when choosing a card?

Before proceeding directly to the description of the best banking products, you must first decide on the most important criteria, the combination of which will ultimately help you make a choice in favor of the best and most advantageous offer.

When evaluating a particular credit card, you should consider and compare the following characteristics:

Grace period (grace period). This is the time period during which the credit card user can use borrowed funds free of charge, provided that before the end of this period, full repayment debt. As a rule, the grace period is valid for non-cash transactions. However, some banks will present. The average duration of the interest-free period for the bulk of banking products is about 60 days. However, there are now offers on the market with a longer grace period - you can find out about them.
Minimum payment. Represents a mandatory monthly payment in the presence of debt on credit card. Determined by a fixed percentage of the total debt on the settlement date. The monthly payment for most Russian banks is 5% of the total debt.
Cashback. An option that sets a certain percentage of the return on spent funds. Each financial institution has its own percentage of cashback accrual. A huge variety of different credit cards offer a variety of types of such refunds depending on the area of payment (some offer increased cashback for paying with a credit card at gas stations and restaurants, some for buying clothes and shoes, and so on). The minimum cashback is charged for absolutely any purchase (if such an option is provided on the card). A list of the best cashback credit cards in 2020 can be found in the corresponding material.
Payment for the annual maintenance of the card. There are cards both with an annual service fee and without it. However, you should not put this point at the forefront, since other conditions for a credit card with free service can be much worse than for a paid one. Here it is necessary to make a comprehensive assessment of all the main factors.
Commission for issuing cash at ATMs. This item must be taken into account by those who plan not only to pay with a credit card in stores or on the Internet, but also to withdraw money from it. Such people should opt for offers where there are no commissions for withdrawing funds.
Payment for Additional services. Such services include mobile bank, SMS informing, transfers to third-party financial organizations, replenishment of the card balance through the terminals of other banks, and so on.

Which bank has the best credit card?

Now you can go directly to the description of the most attractive credit cards provided by the country's leading banks. Below is a list of TOP-6 financial institutions With the best conditions by credit cards. From this list, you can choose the most suitable and profitable credit card, based on your needs.

Alfa-Bank - credit card "100 days without%"

The highest approval rate!

This card is one of the most profitable for cash withdrawals through ATMs. You can withdraw up to 50 thousand rubles a month from it without commission. It is noteworthy that the grace period for this card is valid not only for paying for goods and services, but also for the amount of cash that was withdrawn through an ATM, which credit cards of most other banks cannot boast of.

The interest-free period, as the name of the card implies, can be up to 100 days. Interest on the loan starts at 11.99%. The maximum amount of credit funds is 500 thousand rubles (for the standard version of the card). Minimum monthly payment equal to 3% of the principal amount of the debt, but cannot be less than 300 rubles.

A year of servicing a credit card from Alfa-Bank will now cost from 1,490 rubles. The price of SMS informing services is 59 rubles per month, starting from the 2nd month of use.

To obtain the desired product, you can fill out online application to a credit card through the appropriate form on the bank's website. You can get an answer within 2 minutes and go to the nearest branch for a card.

Issue a card

Rosbank - credit card for purchases "#120podZERO"

The main advantages of this credit card are large credit limit and grace period. The maximum amount of credit funds can be 1 million rubles, and the length of the grace period is 120 days (applies exclusively to card payments), which is a pretty good result.

The fee for issuing a card is 0 rubles, and the monthly maintenance cost is 99 rubles (you won’t have to pay if the credit card turnover exceeds 15 thousand rubles per month). The mandatory monthly payment is set at 5% of the principal amount. The minimum interest rate is 25.9% per year. The commission for receiving credit cash through any ATM is 4.9% plus 290 rubles.

The SMS informing service will cost 60 rubles per month (the first month the option is free). You can apply for a credit card on the bank's website. It will take no more than 5 minutes to review it.

Issue a card

Raiffeisenbank - credit card "110 days"

Until April 30, 2020, the "Cash without commission" promotion is carried out on the card. If you issue a card before the specified period, then for the first 2 months it will be possible to withdraw cash through ATMs of Raiffeisenbank and partners without paying a commission.

The credit limit on the card is quite large - up to 600 thousand rubles. The interest-free period is 110 days (does not apply to cash withdrawals). The interest rate, if the payment of the debt is not received during the grace period, starts from 29% for non-cash transactions, 49% per annum - for other transactions.

The monthly cost for servicing plastic is 150 rubles (however, if you spend more than 8 thousand rubles a month on the card at the expense of credit funds, the fee is canceled). For using the service of notification of transactions via SMS, you will have to pay 60 rubles per month (starting from the 3rd month of use). The minimum monthly payment is up to 5% of the debt.

Attention, action! Those who apply for a card using the link below before 03/31/2020 will receive a completely free service for the entire validity period of the card.

Issue a card

MTS Bank - profitable credit card MTS CASHBACK

This product is rapidly gaining popularity in the field of credit cards. This is not without reason, because the conditions for this credit card are very tempting, besides, there is a cashback program (5% return for purchases in special categories, up to 25% for purchases from partners, 1% for other purchases).

The interest-free period has a time frame of 111 days (valid only for non-cash payment by card), and the upper limit of the amount of credit funds is 299,999 rubles. The interest rate here starts from 11.9% (the maximum is 25.9% per annum). The minimum monthly payment is 5% of the outstanding amount.

For the issuance of credit cash through a bank terminal, the commission will be 3.9% plus 350 rubles, both through MTS ATMs and through devices of third-party financial institutions. SMS notifications about transactions will cost only 15 rubles per month (the first two months do not need to be paid).

Another factor that speaks in favor of this loan product is that you can get a card from the age of 20 without proof of income. Monthly maintenance of the card is free. You can complete the order via the Internet - the application will be considered instantly and the credit card will be delivered to the required address (you can also pick up the card yourself at the bank office or MTS salon). The one-time payment for the release of plastic is 299 rubles.

Issue a card

Vostochny Bank - profitable credit card "Prosto"

The main feature of this card is the daily fixed size payment in case of card debt, which is 30 or 50 rubles (depending on the credit limit) - this model is ideal for short-term loans. Grace period - up to 1,850 days.

Other characteristics of plastic:

the maximum amount of credit funds - 70 or 120 thousand rubles;
loan rate - 20% after 60 months;
cashback program - up to 40% return on online purchases in partner stores;
the cost of SMS informing - 89 rubles per month;
There is no commission for withdrawing cash from an ATM;
The grace period applies to any transactions.

To get a card, you need to submit an online application. The decision will be made within half an hour, after which you can pick up a credit card at any convenient branch.

Issue a card

Otkritie Bank - a credit card with a large grace period of 120 days

Another card with a very long interest-free period, which applies exclusively to non-cash purchases.

The main characteristics of the credit card are as follows:

length grace period- 120 days;
the maximum limit of the credit limit is 500 thousand rubles;
annual rate - from 13.9%;
withdrawal fee Money- 0% at any ATM (up to 200 thousand rubles per day, up to 1 million rubles per month);
annual service price - from 0 to 1,200 rubles;
the cost of SMS notification services is 59 rubles per month.

You can order a card via the Internet on the official website of Otkritie Bank.

Issue a card

How to get a loan?

To obtain the desired product, you can use two main methods.

Become a universal means of payment not only among the younger generation. Pensioners have already appreciated the convenience of paying with plastic, and are also beginning to actively use it when paying for purchases.

To choose the “right” credit card, you need to pay attention to the conditions and parameters of the lending program connected to it, otherwise you can get into an unpleasant situation caused by the inability to pay debts on time, high service fees.

The product has its own features of functioning. The profitability of the card depends on the terms of the loan (interest rate, limit, grace period) and the additional options and bonus programs attached to it.

Interest rate

The interest rate on credit cards is set above the average for the bank. This is due to the increased risks for the product. On average, the percentage can be from 23 to 50%.

Minimum bet offered payroll clients banks, borrowers who apply to this lender again. The amount of the percentage depends on the availability and status of additional service packages.

Bank offers:

Bank	Map name	Percent
Bank Tinkoff	Tinkoff Platinum	12,0–29,9%
Sberbank	Gold	23,9–27,9%
Renaissance Credit	Credit	24,9–29,9%
City Bank	Citi Ultima,Miles, Ultima	13,9–29,0%
touch bank	"Touch Bank (TP Daily 2.0)"	12,0–39,0%

The lower limit of proposals concerns preferential lending programs, the upper one is for new borrowers. Interest is accrued on non-cash purchases with cards, if the user decides to withdraw cash, the rate increases to 40-50% per annum, an additional commission is charged.

There is credit organizations offering cash withdrawals without commission, for example, Alfa Bank:

Credit limit

The maximum amount of debt that can be on a loan account is called a credit limit. Its value is determined by the selected lending program and is limited by the user's solvency. The minimum threshold is set within 3-5 thousand rubles.

Bank programs with a maximum limit:

New customers will not be able to immediately issue the maximum limit on the card. To qualify, the borrower must meet certain eligibility requirements. For example, in Sberbank, the maximum limit is provided only as part of a personal offer to a client from a bank.

Even in one bank, the maximum credit limit may vary depending on the product; for Sberbank youth cards, it is 200 thousand rubles.

Additional payments and commissions

Unlike consumer loans, in addition to interest for use, the borrower pays the cost of annual maintenance of a credit card. Its value increases the total cost of the transaction, so this should be taken into account when choosing a product.

The cost of maintenance is in the range of 500 r. up to 1500–3000 rubles, depending on the status of the card and the connected service package. Some banks allow free service if the client meets certain conditions (card purchases in the amount of 15–30 thousand rubles per month, if all customer accounts have a minimum balance of 30–50 thousand rubles, etc.).

Expensive cards are Alfa Bank cards (from 1190 rubles per year), Tinkoff Bank All Airlines (1890). Offers from Renaissance Credit, Sberbank Momentum, CITY Bank Prosto Credit Card, etc. are free.

Grace period

The interest-free period of use is one of the key advantages of the service. The ability to use borrowed funds for free attracts many borrowers. When choosing a product, you should find out the conditions of the grace period, which operations it applies to, and the calculation principle.

The maximum period is offered by the following banks:

Requirements for the borrower

A credit card is one of the ways banks provide loans, so the requirements for borrowers are set as for consumer loans. They take into account the level of solvency of the client, his credit history, bank status.

Clients with open overdue loans can only count on receiving credit cards with a minimum limit amount, but with high interest. Such applications are considered by banks on an individual basis.

Standard requirements:

citizenship of the Russian Federation;
permanent or temporary registration;
age from 18–21 years to 60–70 years;
availability of a sufficient source of income or the establishment of a minimum amount of income for the borrower in the region;
experience from 3-6 months.

Credit cards are provided without collateral, the risks of banks are offset by higher interest rates and additional fees.

Minimum set of documents

The minimum requirement is to submit a passport and a second document (SNILS).

For larger limits, proof of income and employment may be required. To confirm their solvency, the borrower can additionally submit documents confirming that he has real estate, a car, cards of other banks, and the level of qualification.

To obtain a credit card, the borrower leaves an application form either on the company's website or at its representative office. In it, he must declare his own income, indicate the place of work, contact information. The decision of the bank to provide the product depends on the correctness of the entered data.

Credit card bonus programs

Bank loan products attract users with additional options that can be connected. They become interesting both for certain categories of borrowers and for a wide range of clients.

When choosing a service, you should pay attention to how much it is necessary for a particular user. High additional options imply an increased cost of maintenance.

The most popular and sought-after programs include the Thank You from Sberbank, Russian Railways Bonus programs from Alfa-Bank, and Air Airlines from Tinkoff Bank.

"Thank you" from Sberbank

Holders of Sberbank credit cards get the opportunity to participate in the loyalty program. Its essence lies in the accrual of 0.5% of the check amount as bonuses for each purchase with a card, which can be used when paying for products and services of partner companies.

If the purchase is made in authorized organizations, the amount of points reaches 20%, 1 bonus is equal to 1 ruble. You can connect to the program using the Internet bank or through a self-service terminal.

Partner companies are more than 300 outlets, supermarkets, restaurants, cafes, etc., so the user can always make a bargain.

RZD Bonus is a product offered by Alfa Bank.

Holders get the opportunity to accumulate points, which can later be spent on trips on long-distance trains and Sapsan. A credit card can be issued in three currencies: rubles, dollars, euros. Grace period up to 60 days, including cash.

The bank offers 3 programs:

To receive plastic, you must have a minimum income in the amount of 9 thousand rubles. for Moscow and 5 thousand rubles. for other regions, the presence of permanent registration, place of residence or work in the territory served by the credit institution.

For registration, you will need a passport and a second document, but in order to increase the likelihood of approval of the application for the maximum limit, you can attach a certificate of income, an account statement, a policy voluntary insurance, confirmation of travel abroad, etc.

Making purchases on a credit card in the amount of 20 thousand rubles. monthly, the borrower can accumulate points for a premium free ticket for 6 months. An increased number of points is awarded when paying for railway tickets at the box office or through the website: 1 point = 3.34 rubles.

Offer for travelers from Tinkoff Bank "Air Airlines" with crediting miles for purchases:

Capabilities:

accrual of 10% points from the purchase for booking hotels and cars;
for the purchase of railway and air tickets 5%;
2% for other purchases;
30% for purchases on special offers;
free insurance for visa;
The accumulated miles can be used to purchase tickets in any airlines.

Credit limit up to 700 thousand rubles, a new user is credited with 5,000 welcome miles as a gift, grace period up to 55 days, interest rate 19.9-29.9%, cash withdrawal 29.9-39.9%, annual maintenance fee 1890

How to use a credit card abroad?

Using the product abroad has its own characteristics:

Only a personalized credit card with a chip should be taken abroad.
The card type must be at least Classic. It is better if these are premium products with additional features.
To avoid double conversion of funds, it is better to issue a card in the currency of the country.
Cross-border fees may apply when the purchase currency is different from the account currency.
When withdrawing cash, a commission of the bank serving the terminal is charged, the bank that issued the credit card will charge its own tariff for cashing out abroad. Amounts can range from 2-3% to 5% of the value of the operation on each side.
Don't need to convert foreign exchange into rubles through POS-terminals, the exchange will be made at the most unfavorable exchange rate for the client.
There are credit cards with the possibility emergency withdrawal cash in case of loss of the card abroad.

All conditions for using the product abroad are specified in the service agreement, which must first be studied and the expediency of performing operations determined.

Answers on questions

How is the card delivered?

The delivery method depends on the bank that issued it:

full online registration is possible with the delivery of the product either by courier or by mail;
through a visit to the representative office of the company to sign documents and receive a card.

Which transactions do not earn bonus points?

Points are awarded when paying with a card for goods and services; points will not be awarded for the following transactions:

cash withdrawal;
bets in casinos, sweepstakes;
buying bonds, lottery tickets;
when transferring funds to electronic wallets;
if the money is transferred to a legal entity.

Conclusion

When choosing a credit card, you should pay attention not only to the conditions and parameters of the program, but also to the availability of additional features and bonuses. If the borrower does not plan to use the options, then it is better to issue classic products with a low annual service.

Credit card is more expensive loan product compared to classical programs consumer lending. Therefore, therefore, it is worthwhile to carefully approach the choice, study all the tariffs and possibilities in order to choose an individual solution.

They are now available to almost everyone. You can even apply online without leaving your home. But ordinary classic cards not so popular anymore. Users prefer to use those that allow them to save and receive additional bonuses.

Grace period

Cards with a grace period are especially popular and in demand. In this case, the borrower has a certain time to fill the limit without any overpayments. Each bank may provide its own period of time for this - you should pay attention to this immediately during registration, since it will not be possible to change this parameter at all. Even if the limit is changed, such parameters cannot be changed.

Also, if the card is needed to withdraw cash, the commission for this operation should be taken into account. Usually, banks charge a fairly large fee for this, but you can choose an option with lower interest rates.

Cashback

Recently, cards that allow you to receive additional discounts for payments are very popular. This implies that for certain types of payments it is possible to receive funds to a bonus account, and then also spend them at specific points of sale and companies. The bonus system or cashback is now offered by many banks, but not everywhere is too actively developed. Therefore, it is better to pay attention to this right away, since the cards can be thematic - for travel, for shopping on the Internet or for entertainment. It directly depends on where exactly it will be possible to spend bonuses.

Rating of profitable offers for credit cards

What to evaluate

Bank rating

For those who choose which bank will have the best credit card, the rating is ideal - the best current offers of 2020:

Tinkoff. Here you can get a card minimum percentage, but the requirements for the borrower are relatively the same.
Alfa Bank. Offers the most interesting conditions - promotional offers with cashback.
VTB. A large selection of loan offers for every taste - a wide range of available amounts and interest rates, depending on whether a loan is issued without proof of income or with a certificate.

The growth of competition in the banking sector contributes to the emergence of a large number of credit cards offered by institutions of the banking sector to the population. Almost every retail bank has several offers in its arsenal that can satisfy the needs of not only those who need credit funds. There are new services and bonuses for cardholders.

What credit card terms are considered attractive

If we briefly characterize all the plastics on the repayable loan market, we can distinguish the following categories, according to which you can choose a product depending on what you want in addition to borrowed funds get client:

Cards with an increased grace period. Now grace - with a period of 50 days, it is already difficult to surprise anyone, therefore offers from banks appear on the market offering an increased limit on interest-free use of a loan of 100 days or more;
Plastics with the possibility of accumulating own funds and receiving a balance on them, comparable in rate to deposit accounts;
Cashback cards. When shopping in stores and on websites, the client has the opportunity to return from 1 to 30% of the funds to the account at the end of the billing period, depending on the selected category of the seller;
Cards with free issue and maintenance;
Free credit cards. The era of cards as a means of payment through terminals is a thing of the past and now many banks offer to use a credit card as an ordinary wallet;
Bonus cards. When buying goods, they receive bonuses that can be spent on purchasing free services from bank partners. Most often, these are miles that can be exchanged for a flight with airlines or additional services from a carrier;
Cards with the possibility of obtaining without providing information on income, the so-called two-document cards;
Additional services, such as urgent issue, free delivery to a specified address, by mail or the possibility of opening a savings account, issuing a free additional credit card.
Installment cards. A special type of credit cards that can be used to make purchases in partner stores, paying off the debt in equal installments without accruing interest for up to 1 year.

The best credit cards of 2017

Tinkoff cards

Tinkoff Bank offers its customers a wide range of cards with the ability to receive cashback up to 30% of the purchase amount. The bank is also loyal to the conditions for granting a loan, when it is not necessary to fill out a certificate in the form of 2-NDFL, but a card is made within 2 days and delivered by courier. The decision to issue plastic is made 3-4 hours after filling out the application. By the way, one more option that was not written about, but is implied by default - all retail banks offer online processing of plastics on websites and use of mobile and Internet banking without commission.

The bank offers interest on a loan from 12.9% per annum, a grace period, the ability to accumulate miles with a Tinkoff Airlines card.

The best among its credit cards, the bank itself positions a platinum card with a service of 590 rubles a year and a limit of 300,000 rubles.

All Tinkoff offers have, as a plus, the possibility of switching, in other words, refinancing a loan from another bank with a reduced loan rate.

100 days without % from Alfa Group

Alfa Bank issued a card for 100 days without%, which means an increased grace - a period during which you can not pay for servicing a loan, including when withdrawing cash. See also: .

It is necessary to read specifically the terms of the grace period in small print, but even a monthly installment of 5% of the debt does not make this card worse. Credit rate from 23%, and the service is very high and depends on the status - from 1 to 6 thousand rubles a year. The loan limit is provided in the amount of up to 300,000 rubles, but depends on personal information submitted by the client.

VTB 24 and its free plastic

VTB 24 issued the Matryoshka card, offering its users a cashback of up to 3% on all purchases, except for mobile payments and other transactions not related to the purchase of services.

The first year the card can be used free of charge, from the second year the same condition is met if you pay 10,000 rubles monthly with the card. Which can be achieved quite elementarily if you buy groceries at the nearest store and pay once numerous utility bills.

The loan rate will be 24%, and the amount of the maximum loan from the bank in the amount of 350,000 rubles can be increased to 750,000 with active use in six months.

The grace period will be 50 days, and the plastic itself is issued by Visa and Mastercard systems.

A loan in the amount of up to 150,000 rubles can be issued according to two documents, one of which is a mandatory Russian passport, and the other is the choice of SNILS, a foreign document, a driver's license or a military ID.

Platinum Benefit from Home Credit

The card with "Platinum Benefit" from Home Credit Bank rightfully takes a place in this honorary list due to the grace period, the opportunity to participate in the bonus funded program Benefit. The loan rate is higher than other offers of 29.9%. And cashing out is provided only nominally, since you will have to pay about 4% of the cashing amount for this option.

A loan is issued without certificates in the amount of up to 300,000 rubles, and the bonus program provides for a refund in the quote 1 point = 1 ruble. You can get 10% cashback by making purchases in partner stores online.

Free wallet from Renaissance

Renaissance credit offers a card with free maintenance.

A preliminary decision is issued within 10 minutes from the moment of registration of the application, and an increased cashback of 10% and the ability not to pay for service without any conditions makes the offer beneficial for those who need a credit card just in case or for a rainy day.

The limit is set within 200,000, and the loan rate is calculated from 24 to 29%.

The plastic product can be picked up at any of the indicated outlets by the customer.

Installment offers

Installment cards. Three credit cards fell into this category at once - "", "Conscience" and an installment card from the same "HK". There are differences between the cards, but there is one fundamental similarity - you can pay for purchases in partner stores, the number of which today reaches 20,000, and then pay equal parts of the purchase, depending on the installment period, without additional commission. In fact, the scheme works like this: they bought a product for 10,000 rubles, and the offer period for the grace period is 4 months, which means that when buying in December of this year, from January to April, you need to deposit 2,500 rubles to your account. There is no minimum amount and commissions, and they arise only in case of late repayment of the debt. There is no opportunity to withdraw cash, but there is a cashback, and since October of this year, the program “10 months for everything” has been launched. That is, all goods purchased in November and December can be paid for 10 months. Cards are delivered by courier, and "HK" offers to visit the nearest branch.

What you need to know about credit cards

Before issuing a plastic credit card, you should carefully study all the terms of the agreement, and if an application is sent via the Internet, then do not be too lazy and print or open all the tariffs. Hidden fees, life insurance contracts that reduce interest on a loan, the conditions for using a free grace period, and the non-expiration period for cashbacks and bonus points are often written in small print or between the lines.

One thing must be remembered: absolutely free loans with the ability to use the card as a settlement, that is, there are no restrictions at all.

You should decide for what purpose you should purchase a card. Whether it will be used as a means of purchasing goods before payday - then perhaps you should opt for a card with free service. If you plan to actively use it simply as a wallet with the function of depositing money, we advise you to consider offers in which the cost of returned cashbacks will cover the service or the conditions under which it will be free will be met.

Wishes, how not to punish yourself financially

Finally, a few suggestions that will help you avoid unnecessary expenses.

Affiliate cashback - can sometimes be a means of attracting network users or retail stores. A 10% benefit may not be as "profitable" if a similar product is 15% cheaper in a nearby store.
Activation of the card can lead to the beginning of its action, writing off the commission for SMS alerts. So if the card was purchased for a specific purpose, such as a vacation, then make it active at the right time.
Check your balance when withdrawing funds. Such a confusing percentage is spelled out in many contracts that it is better to check, maybe then a hasty withdrawal of money in third party bank may be postponed.

Today, more than 50% of the population of our country have credit cards. Such popularity is explained by their convenience and favorable terms of provision. With the growing demand, banks offer a huge list of credit cards of various types and types, which are easy to get confused. How to choose the right credit card, and which credit cards are the best in 2020, will be discussed in the article.

What you need to know about credit cards

Due to the great competition, banks are trying to lure customers by offering to issue a credit card for a super favorable conditions. However, before you agree and use this product, you should learn about it as much as possible. detailed information and get acquainted with the offers of various banks.

A credit card and a consumer loan are two completely different products. Here are their main differences:

To apply for a credit card, you do not need to collect documents and wait for bank approval. It is enough just to come to any branch and inform the employees about your desire to get a credit card;
The credit card is a renewable product. After paying off the debt, the money can be used again almost immediately;
For use consumer credit the client pays interest, for using a credit card, in addition to interest, a service fee is charged, which can be from 400 to 6000 rubles per year;
The credit card has a limit that cannot be exceeded;
Most credit cards have a grace period during which money can be used without interest;
For cash withdrawals from a credit card, the bank charges interest;
There is no payment schedule indicating the amounts and dates of payment. The debt can be repaid in parts at any time convenient for the client within the minimum allowable payment (usually 5% of the debt amount per month). Thus, the amount of payment and the terms of repayment of the loan are set by the person independently.

Interest on credit cards is usually quite high. On average, in the region of 20-30% per annum. Therefore, the ideal option would be to pay off the debt during the grace period. For late and non-payment of credit card payments, interest and penalties are provided, which are prescribed in the loan agreement.

What to look for before choosing a credit card

Before choosing a credit card, you should pay attention to the main terms of the contract. First of all, this is the duration of the grace period. The larger it is, the more profitable it is to use the card. If your goal is to use credit money in short term, then the grace period is the main criterion for choosing a credit card. Now some banks offer cards with a grace period of up to 120 days, which means that you can manage money without interest for 4 months.

Another important indicator that you should pay attention to before choosing a credit card is the cost of annual maintenance. Some banks hold special promotions, offering the first year not to pay for card maintenance. At the same time, other conditions may be less favorable, since the bank does not want to remain at a loss. There are also reverse cases. For example, the bank offers a long grace period and low interest, and the cost of servicing the card is overstated. That is why this indicator must be evaluated in conjunction with all other conditions of the loan agreement.

The next indicator is the credit limit. Usually its size ranges from 200 thousand to 1 million rubles. The importance of this criterion depends on how much you need. If you are planning to use small amounts, the credit limit can be ignored altogether. If you need a substantial amount, choose a card with the highest possible credit limit.

The interest rate is one of the most important criteria that must be evaluated before choosing a credit card. The amount of the overpayment, and hence the profitability of using the card, depends on it. Ignore size interest rate You can only if you plan to pay off the debt during the grace period. However, this does not always work out, so it is better to play it safe and choose a credit card with a low interest rate.

A profitable credit card makes it possible to receive back the amount of interest on purchases. The percentage of cashback and the list of stores and establishments where it is credited is a very important criterion when choosing a credit card. However, you need to be careful when calculating how profitable the cashback system is. After all, partner stores can inflate their prices, and expensive service maps and a large percentage on a loan can cover the percentage of return.

Thus, before choosing a credit card, it will be right to determine for yourself the most important criteria, depending on the purpose of using the card. Then it is worth considering the offers of various banks, based on the most significant indicators for themselves.

Best Credit Cards in 2020

Today, you can get a credit card in almost any credit institution. Moreover, in one bank you can find several types of credit cards with different conditions of use. It is very difficult to make a choice in favor of any one bank or credit card, since it is impossible to calculate all the needs of customers and the nuances that affect the decision.

According to statistics and user opinion, the best credit cards in 2020 are:

A credit card is simple and convenient. It can be used to pay almost everywhere, and the conditions for using borrowed funds are beneficial for the client. Before choosing a credit card of one or another bank, it is worth considering the offers of several institutions and deciding in favor of the most beneficial product for yourself.