Credit cards have certain conditions, which are put forward by the bank in an individual solution. Limit credit card- this is the maximum available amount on the card, which the borrower can realize for the purpose of purchases or as cash. Wherein banking organization may set limits on the credit limit or introduce additional commissions to manage credit card spending. In this article, we will look at what a credit limit on a card is.
Card types
Bank card products can be divided into several types that are applicable in certain situations. Often turning to a bank for a specific service, you can find that a banking organization is ready to issue additional card on favorable terms.
These are cards that do not have a credit limit. You can use only those funds that are placed by the client himself or by third parties. Such cards are most often used in payroll projects.
The accounts to which the plastic is linked receive wage. You can withdraw it from ATMs or pay for goods directly with a card. After the limit of received funds is exhausted, it will be impossible to pay for goods by card.
Any client has the right to issue such a product for his own purposes. The benefit of using debit cards is that the funds in the account can earn interest comparable to the deposit. Also, for purchases using plastic, the client receives rewards in the form of cashback, i.e. a refund of part of the costs. Cashback can vary from 0.5 to 30%.
Commissions may be charged for service, for transfers and withdrawals of money - both in their own and in ATMs of other banks. Additional services may be insurance products or SMS informing services, which are not mandatory.
it debit cards, but with which you can "go into the red." Such cards are used as ordinary debit cards, they can also be participants in a salary project. But there is a certain credit limit.
As a rule, an overdraft in standard cards is connected to a small one. “In the minus” you can go no more than 15,000 rubles. It works like this:
- a certain amount of money is placed on the card own funds, say, 15,000 rubles;
- the client withdraws 18,000 rubles from the bank;
- this means that 15,000 r. debited from the card account in the form of a debit transaction, and 3,000 according to the overdraft rules.
This means that the cardholder has a debt to the bank for credit conditions. Interest rates are set by the bank, and they are specified in the contract. As a rule, these are standard interest rates for using a loan in the amount of 20-30% per annum.
Thus, until the money is credited to the account, interest will be charged for the use of credit funds. And, moreover, there are certain repayment periods when the amount should be credited to the account. Usually no later than the 20th day of the month following the month in which this overdraft was applied.
If the money is not received on time, then a fine may be charged based on the terms of the contract. Usually 0.1% of the amount of overdue debt. The overdraft service is voluntary, so the client can disable this feature.
But setting an overdraft may not be applicable for the current tariff plan. Such available limit may be convenient for those who use debit cards and do not have credit cards.
Most often, the credit limit is characteristic directly for credit cards. Now you can find bank offers with a lending limit of 300,000 and even 1 million rubles. Credit cards are special kind non-purpose loan. Since the set limit is renewable.
If during the execution of the usual consumer credit a one-time financing is made, as a result of which the borrower is given a repayment schedule with terms and percentages of payment, then on credit cards the loan is carried out in a different way.
After making a positive decision on the possibility of lending banking company assigns a line of credit. This is the maximum available amount that the client can use. Moreover, by spending, the borrower can return the amount of the debt, and these actions will lead to the fact that the available amount will be restored.
For example, the credit limit on a Sberbank card is 50,000 rubles. The borrower spent in October 20,000 rubles. And in November he returned the amount of money. At his disposal again 50,000 rubles.
This type of loan does not have a repayment schedule. For credit cards, billing and billing periods apply instead. And depending on the amount of debt during the payment period, the client must make a minimum contribution, which the bank will appoint at the end of the billing period. As a rule, this is 5-8% of the amount owed.
For this type of loan, the limit is assigned on an individual basis. It consists of current solvency and credit history. At the beginning of the relationship with the bank, the company sets a minimum limit. For new customers, the bank approves cards with an available amount of 15,000–50,000 rubles.
It is possible to change your credit limit. But this decision is made by the banking organization in unilaterally. The limit increase is possible in the following situations:
- payment deadlines are met;
- the card is actively used within the framework of the current offer;
- there has been an improvement in the solvency of the borrower, which he confirms with documents;
- the client uses the contract for at least 6 months.
The bank will independently change the amount of available credit. At the same time, it can be both reduced and increased. The company is obliged to notify the borrower of these changes by means of SMS informing, through Personal Area, by phone call or otherwise.
In the previous materials of the School of Life section "Credit and debit bank cards", we examined in detail all the design features and correct use credit bank cards.
Making out a credit bank card, usually rarely anyone thinks:
When will this credit card expire?
what to do when a credit card expires;
what will happen if you do not take appropriate measures at the expiration of the credit card.
Due to ignorance of the answer to all these questions, a credit card user may unexpectedly:
incur additional credit card charges, and
ruin your credit history.
To avoid such negative consequences, even when applying for a credit bank card, if you have already decided to use it, you should carefully understand all the features of the concept of “credit card expiration date” or, more briefly, “credit card term” inherent in credit bank cards.
And so in this article we will deal with the following questions:
what determines the validity period of a credit card;
what should a credit card borrower do when the credit card expires;
How to reissue a credit card after it expires.
What determines the expiration date of a credit card
If you carefully read the agreement on the issuance and maintenance of a credit card, and this must be done in without fail, so as not to get into an unpleasant situation later, you can see that:
the credit card issued to you is not your property, but the property of the bank and
that it has a certain period of validity, while you are only its holder.
A credit bank card is not issued for life use, but only for a very specific period.
This period is set bank independently and in practice can range from several months to 5 years.
The most common credit card validity period in our country is from one to three years:
The Bank of Moscow, Svyaznoy Bank and Vozrozhdenie Bank issue credit cards with a validity period 2 years;
Sberbank and Raiffeisenbank issue credit cards with a validity period 3 years,
VTB24 Bank - issues credit cards with a validity period from 1 year to 3 years;
Russian Standard Bank issues credit cards for a period of 5 years.
After this period, the credit card is subject to withdrawal and the bank issues a new one for the next period to replace the obsolete card.
Periodic replacement of credit bank cards is necessary due to its physical wear and tear, as well as due to the possible demagnetization of the magnetic strip.
expiration date credit card is indicated on its front side next to the name of the owner, usually in the format MM / YY, sometimes - DD / MM / YY.
For example, 12/12 means that the credit card is valid until 23:59 on December 31, 2012. At the end of this period, it is prohibited, and even impossible, to perform any transactions using this credit card.
The expiration of a credit card does not mean that the account of this credit card is closed and a new one will have to be opened. A credit card is just a tool that allows you to manage the borrowed funds of the bank. Therefore, the new credit card will have the same credit score as the previous credit card. Only the expiration date of the credit card will change. new term, and in some banks the PIN-code of the card sometimes changes.
What happens when a credit card expires
Many credit card users who have not carefully read the loan agreement on a credit card believe that when the credit card expires, the bank ceases to provide relevant services on this card.
What is really happening?
As we know, a plastic bank card (credit and debit) and a bank account used by the cardholder are not the same thing. Thanks to a plastic bank card, its owner can receive funds that are on the account of this card. However, the owner of this bank account has the opportunity to get cash from this account at the bank's cash desk, without using plastic card.
When replacing a credit card, when it expires, only the plastic card is replaced, and the unique credit card number assigned to it during its initial registration remains unchanged. Thus, a credit card account does not expire when a credit card expires.
In accordance with the loan agreement, upon expiration of the credit card, the bank automatically issues new map, while withdrawing in some cases from the credit card account some funds for servicing and issuing a credit card.
If the owner of the credit card, after the expiration of its validity, wishes to terminate the agreement with the bank, then it is worth stipulating this possibility in advance even at the conclusion loan agreement to avoid possible misunderstandings. If this was not done in advance when applying for a credit card, then you can notify the bank employees of your desire to close the credit card account in writing.
Attention:
it is appropriate to recall once again that before signing a loan agreement, it is necessary to carefully study all its clauses in order to avoid overpayments and misunderstandings later;
special attention should be paid to the size lending rates, the presence of commissions and additional payments.
Quite often, important information for the owner of a credit card is written in small print, which he does not pay attention to when issuing a card, which is used by bank employees.
What should the owner of a credit card do when it expires?
If you do not plan to use a new credit card after it expires, be sure to notify the bank about this.
This must be done for the following reasons:
Typically, a credit card loan agreement provides for auto issuance of a new credit card, if the client has not received an application to refuse this service. No action is required from the credit card user;
credit card re-issuance is paid, a fee for annual maintenance is also charged. If you just get a credit card and don't use it, you still have to pay for it.
Usually, information about the planned reissue of a credit card after its expiration date is written in the loan agreement.
An application for refusal to use a credit card must be submitted to the bank in advance, and not on the last day of its validity.
For example:
- VTB Bank accepts an application for refusal to reissue a credit card at least 45 days in advance,
- in Stroybank - 60 days before the credit card expires.
On the last day of credit card activity, its user must visit a bank branch and go through the account closing procedure - sign all necessary documents.
Some banks practice the service of notifying credit card users that their card is expiring. This message comes to mobile phone in SMS format.
Procedure for issuing a new credit card when it expires
The procedure for issuing a new credit card at the end of its validity period is determined by the bank and prescribed in the loan agreement. In most cases, when a new credit card is scheduled to be issued, a written application to the bank is not required. A month before the expiration date of the credit card, if the client has established himself as a conscientious credit card payer, the bank will automatically issue a new card.
The Bank reserves the right to refuse to issue a new credit card in the following cases:
there are no funds on the card account of the credit card;
the credit card holder allowed delays in repayment of mandatory payments;
the credit card user has an outstanding debt;
the customer did not use an expired credit card.
As already mentioned, some banks charge a fee for issuing a new credit card:
in Raiffeisenbank - 300 rubles;
to most other banks, including Privatbank, TCS Bank, Svyaznoy Bank, Binbank - free of charge.
Where can I get a reissued credit card
The method of delivery of a reissued credit card to its user is specified in the loan agreement. It could be:
obtaining a credit card directly at a bank branch;
delivery by mail to the address specified when concluding an agreement for opening and servicing a credit card account;
delivery by courier or bank employee.
Upon receipt of a credit card at a bank branch, it must be picked up within the time period established by the agreement - usually no later than a month after the expiration date of the old credit card. Unclaimed credit cards during this period are usually destroyed. If the client subsequently expresses a desire to use credit account, he will have to contact the bank and pay for the production of a credit card.
If you do not plan to use a credit card, then it is advisable to notify the bank in writing 1.5 - 2 months before the expiration of its validity. The bank won't issue a new credit card, and you won't have to pay for services you don't need.
Remember that expired credit cards must be returned to the bank or destroyed.
What should a credit card user do if the credit card is expiring and the loan has not yet been repaid?
It is not necessary to repay the entire amount of debt on a credit card by the date of its expiration:
if the credit card expires and the loan is not repaid, all debt on the credit card is stored on its account and is linked to a new credit card;
however, the credit card limit is usually maintained, and some banks may even increase it.
Summary.
If a credit card has expired, its user simply needs to get a new credit card and continue using it as usual.
After receiving a credit card, you must activate it by inserting it into an ATM and entering a password.
Grace period is a grace period during which the borrower can use credit funds without paying interest.
A card with a grace period (grace period) is a convenient financial product that allows you to borrow money from the bank on favorable terms with a competent approach.
The only necessary condition concessional lending is absolute financial discipline borrowers. You must carefully track all expenses and scrupulously keep records of both debited and credited funds to the card.
Get a credit limit of up to 1 million rubles and use credit funds free of charge for 65 days under the program "Card with a grace period of 65 days"!
This card provides you with 24/7 access to funds anywhere in the world:
- Card of the international payment system VISA
- Revolving credit limit from 30,000 to 1 million rubles
- The validity period of the credit limit is 2 years
- Grace period of crediting: 0% per annum 65 days for using credit funds
- Interest rate on the loan (in case of non-repayment of debt during the grace period): 28% per annum
- Payment without commission for goods and services in Russia and abroad, including via the Internet
- Discounts in stores within the framework of joint programs with payment system VISA, as well as with the Bank's FRIENDS CLUB
- Free connection and maintenance of iBANK Internet Bank/Mobile Bank service
- Free connection and maintenance of the SMS informing service
Terms of the loan program
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Loan currency |
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Grace period for lending (grace period) |
established by the Bank the crediting period during which no interest is accrued on the amount of the formed and fully repaid debt. Start condition grace period is the absence of debt obligations |
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Operations covered by the grace period |
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Credit limit expiration date |
2 years from the date of issue of the card (equal to the validity of the card) * |
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Annual Interest Rate |
During the grace period of lending - 0% In the absence of full repayment of debt during the grace period of crediting - 28% |
* Renewal of the contract for a new term is carried out automatically without mandatory provision documents on the terms and conditions in force on the date of renewal, provided that there are no debts, incl. overdue, on the date of renewal and provided that during the term of the credit limit, the overdue debt arose no more than 3 times and for a period of no more than 5 calendar days for each case
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Value ranges full cost consumer credit | |
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Penalties for violation of the terms of the loan agreement |
In case of non-fulfillment or improper fulfillment by the Borrower of obligations to repay the Bank the loan amount and / or to pay interest for using the loan, the Borrower additionally pays the Bank a penalty accrued on the amount of overdue debt under the Agreement, including the amount of the overdue principal debt and the amount of overdue interest accrued for the period of violation obligations, in the amount of 20% per annum for each day of violation of obligations. |
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The procedure for obtaining a loan |
On a separate plastic Visa card Classic or Visa Gold(service is carried out according to the tariff specified in the Tariff Book for cash settlement services provided by individual clients at LLC Bank Orange) A credit limit of 50,000 rubles or more is provided for a Visa Gold card. |
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Card service fee |
In accordance with tariff plan collection of tariffs for settlement and cash services provided to individual customers in LLC Bank Orange |
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Pay period |
From the date of the first transaction using the funds of the credit limit (from the date of debiting the amount from the account). |
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Minimum payment |
If on the end date of the grace period for lending, the debt on the loan is not fully repaid - 5% of the amount of debt as of the date of the end of the grace period / the last working day of the month and the amount of interest accrued from the day following the day the debt was formed / the date of payment of interest in previous month before the date of actual payment minimum payment. Paid no later than the last day of the month following the month of the end of the grace period / the last day of each next month |
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Possible at any time without commission |
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Terms of interest |
Interest is calculated daily on the balance of the actual debt |
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Security |
Without collateral |
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Information about other agreements that the Borrower is obliged to conclude, and (or) other services that he is obliged to receive in connection with the Consumer Credit Agreement |
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Decision time |
No later than two business days |
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Validity of the decision |
30 calendar days |
Bank cards
Credit, income and debit cards with Cash-Back function Cards Visa Classic with the optimal set banking services and low maintenance cost
- payWave contactless technology
- secure chip and 3DSecure protection technology
- mobile and internet banking
Frequently asked Questions
What is the validity period of a credit card with a grace period?
2 years from the date of issue.
What is a grace period for loans?
The grace period of crediting allows you to use credit funds free of charge within the approved credit limit for you within 65 calendar days (maximum) from the moment of making a transaction using a card (payment for goods/services or cash withdrawal). This grace period is a maximum of 65 calendar days. If you fully repay the debt on the card no later than the end of the grace period, the Bank does not charge interest for the use of credit funds.
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Why do I need a grace period for a loan?
Situations often arise when you need additional funds to pay for your expenses, both planned and unexpected. A card with a credit limit and a grace period allows you to make any purchases without incurring any additional costs (in case of debt repayment within 65 days from the date of payment).
When does the grace period start and end?
The start of the grace period is any day calendar month, in which the first provision of credit funds took place (inclusive), and the end is the date falling on the 65th calendar day from the first day of the grace period (inclusive). The grace period is calculated in calendar days. Upon full repayment of all debt (including interest and commissions, if any), the grace period is restored and begins again at the first subsequent use of credit funds.
If all the debt is not repaid before the end date of the grace period (inclusive), then interest is accrued for the grace period for using credit funds at the rate specified in the lending program.
How can I find out when the grace period ends?
For your convenience, you will be informed about the date of occurrence of the first debt under the grace period of crediting and the duration of the grace period via SMS to your mobile phone.
What transactions are covered by the grace period?
The grace period applies to:
- transactions for payment for goods/services using a card, incl. committed over the Internet;
- money transfer operations from the card account;
- cash withdrawal from the Bank's ATMs, as well as ATMs of third-party banks.
Is there a grace period for cash withdrawals from ATMs?
Yes, the grace period applies, among other things, to withdrawing funds from ATMs and cash desks of banks, both in Russia and in any country in the world. If the full amount of the debt is repaid during the grace period, interest for the use of credit funds (including those received in cash) is not charged.
How can I pay off my card debt with a grace period?
You can repay the debt in any way convenient for you:
- at the Bank's cash desk to the card account.
- Deposit cash without commission through the CONTACT money transfer system.
- Top up card account bank transfer from a third party bank. The commission is charged in accordance with the tariffs of the bank from which the transfer is made.
- Deposit cash through the terminals of the QIWI system. Commission in the amount of 1.6% of the payment amount (min. 50 rubles).
- Deposit cash - no commission
All commissions are paid on top of the payment amount.
What is the minimum payment under the grace period of a loan?
If the debt is not repaid by the end date of the grace period, a minimum payment, which includes 5% of the debt as of the end date of the grace period and the amount of interest accrued for the actual days of using credit funds from the beginning of the grace period, which are payable no later than the last day of the month following the month the grace period ends.
In the future (if the entire debt is not repaid), on a monthly basis, starting from the month following the month of the end of the grace period, as of the 1st day of the month, a minimum payment is formed, amounting to 5% of the debt, as of the 1st day of the month and interest payable no later than the last day of the month following the month of data generation.
If the minimum payment, accrued interest (for the period from the start date of the grace period / from the date of the last payment of interest to the date of the next deposit of funds) and commissions are not repaid within the specified period, a penalty will be charged from the amount of the overdue payment for each calendar day of delay. In the event of an overdue debt, the unused limit on the card is blocked.
To determine the exact amount of repayment of the minimum payment - on the day of the operation, receive an extract or contact the Bank's client manager.
Will I be able to re-use the terms of the grace period?
Yes, after the full repayment of the debt on the card, the very next day you will be able to use credit funds with the possibility of a new grace period for lending, since your credit limit is renewable. Please note that in the event that after the deposit of funds on the same day there will be expenditure operations on the card within the credit limit, the repayment of the debt and, in fact, the end of the grace period will not be fixed.
Credit card limits are intended to reflect how responsible the issuer considers cardholders. To determine credit limits, issuers look at everything from past payment history to how much an applicant is paying for their rent or mortgage.
But in reality, the issuer is complying with the established credit card limits, which have nothing to do with the probability of paying. In any case, the result may be the same. Too much low limit may dampen any enthusiasm for spending on a new card or derail a large balance transfer, while a surprisingly high credit limit may encourage a borrower to spend more than usual.
Each issuer has its own criteria for determining card limits and may weigh the individual components of a credit profile. It is better to find a way to increase the chances of a high credit limit to make sure your account is in good shape.
Why do you need a limit on the card
One of the most important things about a bank card is the maximum outstanding balance that is not penalized. Managing this criterion is important in card transactions, both to stay out of debt and to build a good credit score.
To find out what is the credit limit for the card, you need to check your payroll. To do this, you can call the bank support service.
The limit of the possible loan provided by the bank allows the borrower through a line of credit. The limit itself is set from information about the borrower. Bank analyzes credit rating the borrower, his financial income and success in repaying the loan. If the credit line is backed by collateral, the lender takes into account the value of the collateral.
What determines the balance sheet
The issuer determines the limit when a person first applies for a credit card by evaluating their income, debt level, and financial history. If the history is new, low income, past due payments, or high level debt, it may be approved for a low balance.
It is impossible to know what the maximum balance will be until the application is filled out and the card is approved.
The exception is a secured card, where the maximum balance corresponds to the amount of the security deposit.
If the lender is dissatisfied with the maximum possible amount of the balance that he received, then he has the right to request a larger one. The maximum balance can remain the same all the time. If he uses his card wisely and makes his monthly payments on time, he may be approved for periodic credit limit increases. Similarly, the credit limit may be lowered if the borrower's payment habits are lagging or their debt increases to a level deemed risky by the issuer. When a borrower applies for a credit card, the issuing bank will consider the following factors when determining the line of credit:
- Credit rating.
- Monthly income (self-report).
- Monthly rent or mortgage payment (self-reported).
- Existing credit lines and leftovers.
- Employment history.
- Address history.
Credit score and monthly cash flow are the most important factors when determining the credit limit on a new credit card. Two people with the same credit scores can get very different lines of credit depending on their income and expenses.
For the most part, the more money a borrower earns, the more loans the bank will provide. Credit usage refers to the amount used by a customer compared to their total credit.
Credit card issuers may consider general use credit for individual lines when determining the size of the limit. If the borrower plans to apply for new card after a few months, the payment of some existing balances may increase his maximum balance.
If the lender regularly and monthly pays bills and does not maximize the card, then it will increase financial reputation and maximum balance.
The borrower can make purchases up to the credit limit, but he will not be able to exceed it, especially if he did not make a bet on the processing of transactions in excess of the limit. Exceeding the borrower's allowable amount will result in exceeding the limit and may trigger a penalty rate.
It's worth checking your credit card agreement to find out if your account is subject to a credit limit penalty.
Card limit terms
With a longer credit history, issuers get more data to predict how a borrower is going to use a loan. Lenders will help improve the borrower's chances for a higher limit if his credit history is positive.
If he has never missed a payment for more than twenty years of using the loan, this will help him get approved with a higher credit card limit. If its credit history is shorter, it is more difficult for issuers to predict how the borrower will use the credit line.
Low credit limit on the card
Credit history- one of the factors that issuers of bank cards use to determine the limit on the applicant's card. A person with a credit management history will be more likely to be approved for a credit limit increase. However, the new credit card user has no history of using bank cards. His credit card issuer does not know how many loans he can pay, and so the limit will start from the low limit. If it turns out that the borrower is not quite ready for a loan, then he can only rely on what the bank determines.
Why the bank may reject an increase in the credit limit
Limit increases can be rejected for several reasons:
- The borrower's account may be too new - it may be too early after last change credit limit.
- Income does not qualify for a raise or the borrower may have Account that does not include an increase in credit limit, such as a secured credit card account.
- Negative information in your credit history can also result in your request to increase your credit limit being rejected. In this case, the borrower will receive an adverse action explanation letter explaining factors such as recent delinquencies or high credit card balances that influenced the decision to increase the credit limit.
- If the request is not approved, you should pay attention to the reasons given in the adverse action letter. It's worth trying to improve your credit in these areas, wait a few months, and then try again.
How to increase the card limit
It is better to start small until the borrower has used the entire loan:
- Pay your bill on time and refrain from maximizing your credit card. Then you can get more loans through certain time. Some card issuers automatically increase the credit limit after several months of timely payments. Others increase the credit limit only upon request. It is worth waiting until credit card payments are made on time: at least six months before asking for an increase in the credit limit.
- You can get a higher credit limit by cooperating with someone: a parent or spouse who already has a financial reputation for credit and good earnings.
- If the borrower applies for a secured bank card, then he has the right to choose his own maximum balance by setting a collateral of maximum limit which he wants.
- Regardless of the maximum limit balance, there is always a chance for an increase: if the lender does not spend too much, makes his monthly payments and manages the rest of his loan well.
- When a borrower requests a credit limit increase, the credit card issuer will check their account history, credit report, and current monthly income. If these three factors are favorable, the borrower has a good chance that his request for a credit limit increase will be approved.
Upon careful reading of the card service agreement, the client may notice that it remains the property of the bank and has a limited working life.
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A credit card is provided to the borrower for use, he is its holder. But it is not given to him for life. The expiration date of different cards is different.
The maximum period is 5 years. But, as a rule, this period does not exceed 2-3 years.
Such restrictions are due to the fact that plastic, magnetic tape and credit card chip fail after certain period time. That is why the cards have their own “expiration date”.
When it expires, the client loses the opportunity to dispose of the funds stored on the credit card. At the same time, the account linked to the card is not frozen, but continues to operate.
Issuance conditions
Credit cards are provided under different conditions. Different banks develop their own features for credit cards. For example, reduced interest rate or longer. This is done to attract customers.
Consider the approximate conditions for lending with a card:
- Credit limit- Approved individually when considering the application. Usually this amount does not exceed 300-500 thousand rubles. Some credit organizations offer larger size limit up to 1-2 million rubles.
- Interest rate - from 15%. It is also approved individually for the client. Despite the fact that banks are very active in advertising minimum rates for credit cards, in practice the amount of overpayment is higher than for conventional loans.
- Grace period - the time during which the client uses the money without paying interest. This period can be from 50 to 60 days. Alfa-Bank offers interest-free use of funds. AT different banks unequal conditions for the use of money during the grace period.
Basically, credit organizations only allow non-cash transactions, but some banks also allow.
Requirements for the borrower
In order for the client to meet the requirements of the bank. Again, credit organizations put forward unequal conditions.
Some banks check for official work, while others issue credit cards only with a passport.
Consider the requirements for potential clients, which are most often put forward by banks:
- citizenship of the Russian Federation;
- age limit (achievement of 21 or 23 years);
- the presence of permanent registration in the subject of the presence of the bank (not always required);
- solvency of the client and the presence of official work (not always required).
To check compliance with these requirements, the client is asked for documents (passport, income statement, copy work book etc.).
Terms of Use
The client can use the funds placed on the card at his own discretion. This money has no purpose.
The owner of a credit card can withdraw funds from the card, transfer them to another card or account, and also pay in non-cash form for purchases or services.
Pay attention to the rates approved for a particular credit card.
As a rule, the bank writes off a commission for withdrawing cash from ATMs. Its size can vary from 1 to 7%. The bank also approves withdrawal limits (daily, monthly).
If you plan to withdraw funds from the card, then by all means pay attention to these terms of its use.
Concerning grace period, then it usually does not apply to such operations. Only some banks are ready not to take interest during this period if the client withdraws money.
Credit card expiration date
A credit card has a limited lifespan. This is due to the fact that the plastic itself is subject to wear and can work intermittently.
It is for its replacement that the validity period is limited. As a rule, it is equal to 2-3 years. But some banks offer an extended validity period - up to 5 years.
The "expiration date" of the card itself indicates directly on it near the name and surname of the owner.
It is written in the form of two double-digit numbers, where the 1st is the month, the 2nd is the year. Thus, if 09/18 is indicated on your card, then it will be valid until September 30, 2019.
What it is?
The validity period determines the moment until which the card will be active, that is, with its help it will be possible to make payments, transfers, etc.
If this period has ended, it will be impossible to manage funds from a credit card.
Some owners think that after the expiration of this period, the funds stored on the card will disappear. Actually it is not.
At the time of issuing a credit card, it is linked to the borrower's account. All operations that he carries out using the card are recorded on it.
Thus, a credit card is only convenient way for calculation. You can withdraw funds that are stored in the account at the bank's cash desk using your passport.
When the card expires, it is replaced with a new one. This prevents the possibility of demagnetization of the credit card.
The account itself does not change. After replacing the credit card, the client can continue to use the money.
What does it depend on?
The expiration date for different cards is different. We have already mentioned this before. But how long will the period of operation of a particular card be? It largely depends on the materials from which the credit card is made.
Different banks claim different working period. For example, in Bank Vozrozhdenie, cards are issued for 2 years, in Sberbank - for 3 years, Russian Standard - for 5 years.
In addition, the "shelf life" of a credit card is determined by its type - standard, gold, platinum.
How to find out?
To find out the expiration date of a credit card, just look at it. The expiration date is indicated next to the owner's name. It consists of two numbers (month, year) separated by a fraction.
Please note that the card is valid until the last month inclusive. If a credit card has 3 months, it will remain valid until March 31.
What to do if it ends and the debt is not repaid?
Does the expiration of the card mean the end of credit agreements between the client and the bank? If so, then the debt must be repaid.
However, we have already said that the map is only a tool. If the relationship does not end, then it is not necessary to close the debt in full.
The amount of the debt is stored on the account to which the card was linked. After its reissue, the client receives a new credit card for use.
How to get a new card
What should I do if my credit card expires? Some credit institutions automatically reissue cards when their term of operation expires.
The borrower does nothing. He is informed about the possibility of obtaining a new card and he only needs to appear at the department.
Please note that some credit organizations reissue cards to those customers who have used them for the last 3 months.
