One of the main advantages of credit cards is the ability to receive cashback for purchases. Pay with your card actively and return part of the money spent. In Bank Sinara, cashback can reach 15%.
Interest is charged only on the amount of debt
If you go beyond the grace period, the interest rate starts to work. But interest is not calculated on the entire limit, but only on the amount you spent. Compare:
when you take out a loan for 300,000 ₽, you immediately start anhui mobile number database paying interest on the entire amount, even if you spend it in parts;
If you apply for a credit card with a limit of 300,000 ₽, spend 10,000 ₽ and do not have time to repay the debt before the end of the grace period, then interest is charged only on 10,000 ₽. This is an important advantage of the card.
Disadvantages of credit cards
The disadvantages of a credit card are conditional and can almost always be circumvented. Let's describe them in detail.
Interest rate
On average, cards have higher rates than cash loans. For example, Bank Sinara has the lowest interest rate onconsumer loans— 4.5%, and there is also the possibility of applying for “Credit 0%» on special terms. At the same time, credit card rates start from 29.9% per annum.
But it is important to remember that you may not pay any interest on the card at all if you repay the debt before the end of the grace period. And even if you go beyond it, interest is only charged on the amount spent. For example, you spend 30,000 ₽ and manage to repay 20,000 ₽ before the end of the grace period. You will pay interest only on 10,000 ₽, and as soon as you repay the debt, a new grace period will begin for you.