Wide range of lending opportunities allow borrowers to choose the most profitable and comfortable conditions. Any large bank, for example Sberbank, necessarily has in its loan portfolio ordinary consumer loans and the issue of credit cards for various occasions. Which option to choose depends on what is more profitable: a loan or a credit card. This can only be determined after a thorough assessment of all proposed parameters and those conditions required by the client.
Consumer loan
A consumer loan is a non-targeted type of lending that allows you to receive and use money for any purpose. Getting a loan is quite easy, provided you meet the bank's parameters. The loan is especially popular among ordinary individuals, allowing them to solve a financial problem within a short period of time.
Unlike other programs, a consumer loan is issued without collateral, for a short period and within a strictly established limit. If a large amount is required, the loan is issued with additional collateral (collateral or guarantee).
To determine which is more profitable: a consumer loan or a credit card, the main parameters of the loan are assessed, however, in the process of cooperation, the client may need additional conditions - bonuses, discounts, options.
Considering the characteristics of a bank cash loan, the following advantages should be noted:
- The borrower receives funds and can then spend them without additional fees or service charges.
- The amount of debt remains the same, without increasing the limit and re-lending. As a result, the picture of overpayment is quite transparent and is calculated based on the balance of the debt.
- The issued money remains at the client’s disposal, without the risk of unauthorized transactions and fraud common among plastic payment instruments.
- The program provides the opportunity to receive a larger amount than is issued on a credit card.
- The loan rate is usually much lower, which means the final overpayment is lower.
A consumer loan is good to use when active cash payments are expected and the borrower does not need to renew the limit.
When deciding which is better: a credit card or a consumer loan, you should also study the negative aspects that can seriously affect the choice:
- Due to the possible loss of part of the profit, banks are reluctant to allow early repayment, creating additional rules and restrictions that make it difficult to deposit additional amounts outside the schedule.
- Interest begins to accrue as soon as the borrowed funds are issued by the bank. There are no delays in collecting interest overpayments and repayments under the standard terms of the agreement.
- An annuity payment leads to the fact that the borrower first repays interest for the entire period, and the main body of the loan is repaid mainly in the second half of the term.
- The client can only count on the amount agreed by the bank. Reusing the replenished balance is impossible and requires the approval of a new loan agreement.
When the bank offers the borrower both design options, you can choose which is better: a loan or a credit card, by comparing the advantages and disadvantages of the characteristics. A bank card is an excellent alternative to a classic loan when you need not just additional financing, but also a range of banking options.
Moreover, the card holder can become a participant in profitable promotional and affiliate programs, receive increased discounts and even return part of the money spent.
You can save time on issuing plastic by sending a preliminary online request, and issuing requires a minimum of documents (sometimes one passport is enough).
Credit cards have many advantages - they include not only increased comfort in using borrowed funds, but also the opportunity to save on interest overpayments with proper use of the grace period.
The main positive characteristics include:
- The use of a grace period allows you to use borrowed funds for the first 50–100 days without charging interest, i.e. absolutely free. The condition is a full refund within a specified period and non-cash payment.
- A revolving credit limit is available throughout the entire validity period of the card, if the borrower regularly repays all regular payments on time.
- Interest is accrued only on the remaining amount of the debt, i.e. for the funds actually used.
- For active users of goods and services of the bank's partner companies, additional benefits are presented in the form of discounts, as well as cashback with a return of a certain percentage for the funds spent.
- Many banks successfully implement various bonus programs, which can then be transformed into a discount or taken into account when paying for the product later.
When considering which is easier to get, a loan or a card, it should be noted that the plastic instant issue option allows you to receive funds within a matter of minutes.
Despite the increased comfort when using the card, there are also some negative aspects:
- cashing out occurs with the collection of a commission that increases the overpayment;
- the rate and interest overpayment are higher than for a classic loan;
- additional maintenance costs;
- high risk of online fraud, theft from accounts, as well as the plastic itself.
Depending on how you plan to use the borrowed amount and repay the debt in a specific situation, the bank client selects the best option.
So, the situation is such that you need a certain amount, but you cannot fit into your own funds. In a word, you need a loan. Alfa Bank offers several credit products, but the most popular among them are consumer loans and credit cards. What is best and what is right for you depends on many parameters.
Which is easier to get?
If you do not have an offer pre-approved by the bank that it creates for its clients, then there is not much difference in the ease of obtaining a particular product. In both cases, the applicant must provide a passport and a second document from the bank’s list if he receives a salary through Alfa, and supplement this package of documents with a 2NDFL certificate from the place of work, as well as a certified copy of the work book, if not. Both applications undergo a verification procedure, so the process of making a decision takes some time.
As for the amount, it is easier to obtain a larger amount using consumer lending, but the card is an excellent financial tool for small funds (focus on approximately a maximum of 4 of your average salaries).
What is faster?
Alfa Bank transfers an approved consumer loan immediately after approval (the decision is usually made on the day the application is submitted); the credit card account, however, also opens instantly. However, the plastic card itself for issue to the client will arrive at the office within about 5 business days - for those who need money urgently, this is not an option. Only a “fast” card can be issued in 15 minutes at so-called micro-offices, but the interest rate for this product is higher.
Which is more profitable?
Rates on cash loans are usually slightly lower than on cards, but there are a few nuances to consider. Firstly, credit cards at Alfa Bank provide an interest-free period of as much as 100 days. In other words, if you withdraw and repay the debt in full within the specified time frame, the bank will not charge you annual interest. This is especially very convenient when making payments at terminals in stores, salons, and companies providing various types of services, because in this case there is no commission for cashing out. However, when withdrawing funds from ATMs, you will be charged a commission, regardless of the grace period. However, for small amounts such an additional payment in favor of a credit institution is not dangerous; the main thing is not to withdraw money from third-party ATMs.
It must be said that the interest rate is set by the bank at the time the decision is made, and therefore it is impossible to predict all conditions in advance. In case of early repayment, no loan commission is charged, but an application must be written. With a card there is no such concept at all; if you wish, you simply pay the total amount of debt in full, and if necessary, use the limit again. By the way, you can even top up your mobile phone without a commission from a credit card account.
To each his own
Having decided on your goals, you will understand what product you need at the moment.
A credit card and a cash loan are inherently different products. The card is a reloadable, revolving account; you deposit and withdraw amounts within the set limit over and over again.
Plastic– a reusable financial instrument that can be used for many years. We can say that when you receive a credit card, you receive an electronic wallet that will help you adjust your personal or family budget. In addition, co-branded cards provide pleasant bonuses in the form of discounts, accumulated miles, and the opportunity to participate in certain promotions.
Consumer loan– these are bank funds issued to you under certain conditions. Having withdrawn the required amount, you return it in full within the specified time frame and close the account. If necessary, you can contact Alfa Bank again to apply for a new cash loan. The funds issued by the bank can be spent on significant purchases - a car, an apartment, a garage, repairs, training, recreation, household appliances, furniture.
Thus, if you plan to withdraw cash, and even in fairly large amounts, take out a consumer loan. For expenses on small everyday needs with the possibility of non-cash payments using a card, choose a credit card.
Alternative
The card itself, by and large, does not oblige you to anything other than the annual payment; it can easily be in your wallet “just in case.” If you need a certain amount, but at the same time you want to take advantage of the benefits of a plastic card, do not deny yourself this, submit applications for both products. It is better to perform such actions sequentially: first, wait for the approval of the loan that is more important for you at the moment, and then take care of the secondary one. Try to get a card with a small limit; if you fulfill your obligations in good faith, the bank itself can increase the amount of available funds.
By the way, in order not to waste time, fill out an application online on the bank’s website. Please note, however, that you will still need to visit the office to verify your details.
The exception is Tinkoff Bank, where the card is issued and issued remotely
February 2019
A plastic credit card and a consumer loan are the two most popular banking products that are in greatest demand among individuals. But each of these methods of obtaining borrowed funds is not without both advantages and disadvantages. And yet, what is better - a credit card or a consumer loan? As part of today's article, a comparative analysis of these financial products will be carried out.
Credit card or cash loan - which is better?
As a rule, to obtain borrowed funds, most citizens resort to two main options - they take out either a classic consumer loan or a plastic card with a credit limit. To make it easier to make the final choice in favor of one proposal or another, you need to study the most significant strengths and weaknesses of each of them.
Pros and cons of consumer loans
This financial product appeared on the banking market before credit cards, so it’s worth starting the comparison with it. A consumer loan is the receipt of borrowed funds, which are issued on three general grounds - urgency, payment, repayment.
Urgency means that any loan is issued for a certain period, usually from a year or more. Of course, there are lending programs that allow you to receive funds for a short period of time (up to a year), but long-term offers are especially popular, since they have more favorable conditions.
Payment - banking services for providing money are not free. The client will have to pay for using bank funds. This is expressed as a percentage, the amount of which each credit institution sets independently.
Repayment implies that an individual or legal entity undertakes to repay the borrowed funds in accordance with the payment schedule, which is drawn up individually for each client (taking into account the date of receipt of wages or other nuances).
A consumer loan can be obtained not only from a bank. It can also be issued in a store when purchasing any household appliances or other goods. The client receives a payment schedule and enters into an agreement with the banking organization, not directly, but through a store employee.
The loan application is completed by him, and a response is received within a few minutes. Therefore, if you intend to buy, for example, the latest model plasma TV, you do not have to go to the bank. All you have to do is select a product and apply for credit. The vast majority of large retail chains allow this.
The advantages of a consumer loan include:
- A specific amount and exact date of monthly payments - the client sees how much money he has taken and how much it needs to be returned. Also, before his eyes there is a payment schedule for a certain date of each month. It's convenient - no surprises, everything is predictable and transparent.
- The interest rate is lower when compared to a credit card.
- There is no loan servicing fee - there is only one operation and it is limited to the issuance of cash.
- The opportunity to receive up to three million rubles in your hands at the appropriate level of income.
- Inability to “hack” a loan like a plastic card.
In addition to the advantages, there are also some disadvantages:
- Interest is calculated on the entire loan amount - no matter how much of the borrowed funds the client has spent, interest is calculated on the entire debt and is paid in full.
- Fixed repayment period - the borrowed money must be repaid in full by a certain month of a specific year. Delay threatens with an impressive fine, and it is not always possible to obtain a deferment.
- Inability to reuse the money that the client contributed as a monthly payment.
- It is not always easy to repay a consumer loan ahead of schedule, because it is not profitable for banks; they lose interest that the client would have paid for a single year.
Advantages and disadvantages of credit cards
| Conditions | Consumer loan | Credit card |
| Loan amount | up to 4 million rubles | up to 1 million rubles |
| Payment deadline | from 1 to 5 years | card expiry date |
| Interest rate | from 9.9% | from 14.99% |
| Possibility of early repayment | There is | There is |
| Income proof | required | not necessary |
| Registration online | possible, but the decision will be preliminary | Maybe |
| Preferential lending period | absent | up to 100 days |
| Possibility of partial spending | absent | There is |
| Cost of registration and service | for free | from 590 to 6,990 rubles per year |
| Application review period | within a few minutes online | 2 minutes |
Which is easier to get?
It all depends on the number of components of this equation. Undoubtedly, in terms of the ease of the registration procedure and the speed of receiving borrowed funds (especially if we are talking about a small amount), the credit card is in the lead - there are even credit cards with home delivery. It is easier to pass a scoring check for approval of an application with a credit card than with a consumer loan.
However, if the client has an impeccable credit reputation and a high official income, then there will be no difference. Both options will be equally simple. Unless, in order to receive the maximum amount, you will need to collect a complete package of necessary documentation, and this can take a lot of time.
If everything is not so smooth with your credit history and income, then it is easier to get a credit card than a regular loan. Some banks issue credit cards without proof of a citizen’s income, but in this case you should not count on a large credit limit.
Drawing conclusions
It is impossible to answer with any certainty the question of which of the considered banking products is more profitable and preferable to use. But some distinction can still be made:
- If a person plans to buy something really expensive (real estate, a car) or plans to open a large business that requires significant investments, then it is better to take out a consumer loan. The amount is visible, the interest rate is transparent, it is clear how much needs to be repaid.
- If the client does not intend to purchase anything specific, but simply wants to make small purchases using borrowed funds, it is more profitable for him to get a credit card. The cash from the consumer loan will simply lie there and “eat up” the interest, and the funds from the plastic instrument will be spent according to the desire and ability of the borrower. You will receive a notification about your monthly payment. For some time, the loan can be used on preferential terms without paying interest.
To avoid falling into a debt hole, you should take into account your income and monthly expenses. A consumer loan with a requirement to provide proof of income allows a person to understand whether he is able to handle such a debt. If not, the bank will refuse the loan.
There are times when you need a small loan, but you cannot prove your income. Then a plastic credit card can help out. In some cases, you do not need to prove your solvency. It is very likely to receive approval in this case.
A consumer loan, like a credit card, cannot be called a definitely bad or good option. Any financial product is aimed at its client - a person who will be comfortable using it.
It is best to apply for a consumer loan from the bank on whose debit card the client receives wages, because in this case the interest rate is reduced and the size of the desired loan can be increased.
Such privileges are available to salary clients because the bank can see an individual’s transactions and cash flows in his account, which proves the person’s solvency and inspires trust in him.
However, the situation with a credit card is exactly the same - the best conditions will be for those who already use the services of a particular bank. The interest rate will be minimal, as will the cost of annual maintenance.
Video on the topic
Consumer lending, along with issuing credit cards, are the most popular and in demand banking services. Credit institutions regularly issue increasingly tempting offers in the struggle for a “place in the sun.” The client can choose not only a more favorable interest rate, but also the form of receiving borrowed funds. All that remains is to decide which side has more advantages and what is more profitable: a convenient credit card or a consumer loan.
Purposes of obtaining a loan
Both of these methods of obtaining borrowed funds are aimed at satisfying consumer needs, and the purposes for using cash can be completely different in both cases. That is, in essence, a credit card is the same consumer loan. However, getting a credit card based on your goals is much easier. Its discovery does not imply any specific need; the future owner will be able to use it virtually at his own discretion.
As for a consumer loan, the purpose of obtaining it is one of the important components of approval. So, if your intentions to receive cash seem very dubious to a credit specialist, the loan may be denied.
In addition, banks often provide different consumer programs (mortgage, car loan, etc.) depending on the client’s needs, and the package of documents in some of them differs significantly.
Form and terms of the loan
When applying for a consumer loan, money is issued to the borrower for a specific period, at a set interest rate, on pre-agreed repayment terms. In the case of issuing a plastic card, limits and interest rates are also set, but subject to certain conditions they can be changed in favor of the client. Thus, many credit institutions launch all kinds of promotions, in which you can significantly increase your credit limit on a card if you make purchases for a certain amount within a specified period. A similar program operates, for example.
Consumer loans have a certain validity period, most often this is a short period of time - from two to five years. Having repaid the money borrowed from the bank, the borrower can again apply for a new loan, but he will have to collect the entire package of documents again and wait for the bank’s decision.
If we talk about the period of use of the card, then it is practically unlimited; you can use borrowed funds as often as you need it. And after the credit card expires, if the card was canceled on time and without any delays, you can issue a new one to replace the old one and continue to use it without collecting documents.
Receiving cash in hand
As for cashing out, the difference between a loan and a credit card is noticeable here. So, in the first case, you can receive the approved amount in cash or to a bank account, and then withdraw it easily and without interest. This is convenient if you have plans to make a major purchase in the near future: real estate, a car, etc.
In this regard, a credit card is not intended for cash withdrawal; you can use it to pay for any purchases, and if you need cash, you will have to pay a fairly large percentage.
Terms of Use
In the case of a loan, from the moment the client receives funds, he becomes a debtor. The bank calculates the amount of debt that must be repaid by the end of the loan term, including interest and dividing the received amounts into equal payments for monthly debt repayment. Now, on the specified date of each month, the client is obliged to make annuity payments (in equal installments).
The principles of using credit cards are somewhat different; its mere presence does not make the borrower a debtor. The credit period for the card begins to count only from the moment it was first used.
In addition, credit cards have a so-called grace period when no interest is charged on the loan. Its duration ranges from 50 to 100 days. And some banks are ready to offer even more. If the client managed to repay the debt on time, interest on his use of funds will not be accrued at all.
In addition to the standard conditions, some financial institutions may also offer additional exclusivity, rewarding a good borrower. Thus, it offers to repay any existing loan from another bank with a card absolutely without interest and not pay interest for 4 months.
Undeniable advantages of a credit card
Of course, there are a number of other advantages of applying for a card before obtaining a consumer loan, for which the lending conditions may differ significantly. Thus, the following points can be additionally highlighted:
Obvious disadvantages
Along with the advantages of using a card, there are also a number of disadvantages. Among them:
Benefits of a consumer loan
Consumer lending is also endowed with a number of other advantages over issuing a card, but in fairness it is worth noting that there are certainly much fewer of them. This includes:
- Larger amount. Despite the much wider list of documents and certificates provided, when applying for a targeted loan, you can get much more money than a credit card allows.
- Lower percentage. Another important advantage. Interest rates on a loan can be very attractive, and in the case of providing collateral or having guarantors, the percentage can be even lower.
- No additional costs. As a rule, when receiving a consumer loan, the client does not need to pay for additional services or operations. The funds are spent at the discretion of the borrower for his needs, and there are no obstacles to interest-free withdrawal of cash and receiving it in hand.
Disadvantages of a targeted loan
There are also disadvantages to taking out loans. These include the following nuances:
- No delay. If for some reason you cannot repay the loan on time, there is no deferred payment as such.
- Early repayment. Another not unimportant minus. If you suddenly decide to close the loan ahead of the deadline specified in the agreement, in most credit institutions this will be impossible to do.
- Strict schedule. Unlike a credit card, there is no respite. The borrower is required to pay the loan every month without interruption.
- Overpayment. It can be significant, significantly exceeding the amount originally taken, especially if the loan was issued for the maximum possible period.
Comparative characteristics: consumer loan or credit card
To summarize the characteristic features of each of the lending methods and show how they differ from each other, we bring to your attention a small comparative table with the main criteria.
| Characteristics | Consumer loan | A plastic card |
| 1) Loan rate | Flexible interest rate with attractive conditions, depending on the term, history of the borrower’s previous lending, goals and other related factors. | Increased interest if the grace period of the loan has ended. |
| 2) Annual maintenance | Depending on the chosen credit institution. | The service fee is charged every year; each bank may have its own fee. |
| 3) Possibility of early repayment | Early repayment is impossible in most banks due to the lack of obvious them benefits. |
Yes, early repayment is possible at any stage. |
| 4) Cashing out | The borrower receives funds either in cash or by transfer to a bank card. In addition, in the case of a mortgage or car loan, the client immediately receives the purchased real estate for his use. | For cash withdrawals, a fairly high, very unprofitable interest rate may be charged. |
| 5) Package of documents | A fairly large volume of documents provided, including certificates from the place of employment, in order to confirm solvency. | There are no strict requirements; for some cards you may even need . |
As a conclusion, I would like to note how many people there are, so many options for solving this issue. The difference between a traditional loan and a credit card can be significant in many ways, and each has its own advantages. What is better is something everyone decides for themselves. To make the right decision, you need to weigh the pros and cons, starting from the ultimate goal of lending and other subjective parameters.
Loans and credit cards are two main banking products available to most of the population. Their essence is the same: issuing funds at interest for a certain period, but in practice there is a significant difference between them. The differences concern almost all aspects: the cost of the loan, the procedure for use and repayment. Which is better: a cash loan or a credit card depends on several factors.
Comparison of banking products
The procedure for applying for a credit card or consumer loan is practically the same: submitting an application, reviewing the application form, and if approved, visit the bank and receive money or the card itself. In private, the production of “plastic” may take longer - about 2-3 weeks, but some banks reduce the service period. Applying for a loan in this regard is faster, but it is easier to get a card. Many companies even offer to deliver it by courier or by mail.
When applying for a loan, money can be issued in cash or transferred to a debit card. If the borrower receives a credit card, the funds will be stored in her account.
It should also be noted that maximum consumer lending limits are usually higher, and therefore banks may require a guarantor. Proof of solvency depends on the policy of the financial institution and is not tied to the form of the product. These can be documents that directly or indirectly indicate the level of income (2-NDFL or a foreign passport with marks of travel abroad during the last year).
The procedure for obtaining a car loan and mortgage is slightly different. The borrower first chooses a car or apartment, and the bank transfers the money to the seller. In the case of purchasing a vehicle, CASCO insurance will be added to the cost of the loan; in private, personal protection will be added. Pledge agreements require the preparation of an extended package of documents, and the period for consideration of the application can last up to 10–14 days.
Interest rate difference
One of the most important factors that can influence your choice is the interest rate. There are no specific standards in this matter: one bank can offer a loan at 10.4%, another at 24.9%, and a third - a credit card at 12.9%. Here the priority points will be:
- Credit history: the better it is, the more favorable the conditions.
- Having a salary card or deposit means banks are more loyal to existing clients and create special offers for them.
For analysis, you can compare the conditions of popular banks. The table shows the most profitable options for cash loans and classic cards available to new and regular customers.
| Credit card | Credit | |||
|---|---|---|---|---|
| Bid | Limit, up to | Bid | Limit, up to | |
| "Tinkoff" | 12,9–29,9% | 300,000 rub. | 12–24,9% | 1,000,000 rub. |
| "Opening" | 19,9–32,9% | 300,000 rub. | 11,9–20,9% | RUB 2,500,000 |
| "Alfa Bank" Classic Gold Platinum | From 23.99% | 300,000 rub. 500,000 rub. 1,000,000 rub. | 11,9–24,9% | 1,000,000 rub. |
| Sberbank of Russia MC Standard | 23,9**–27,9% | 600,000 rub. | 12,9*–19,9% | 5,000,000 rub. |
| VTB | 26% | 5,000,000 rub. | 12,5–19,9% | 1,000,000 rub. |
| "Home Credit" | 29,8% | 300,000 rub. | From 14.9%*** | 500,000 rub. |
| "Pochta Bank" | 27,9% | 500,000 rub. | 12,9–24,9% | 1,000,000 rub. |
** Minimum rate only based on a pre-approved offer from the bank.
*** For bank clients – from 12.5%.
As you can see, a cash loan is cheaper. However, installment cards (, installment credit card “Home Credit”) were not included in the comparison table. They are subject to a number of restrictions, but in some cases they will be more profitable than all other options.
Profitable non-cash transactions
If you carefully study the terms of bank agreements on cards, you will note that most of them are only beneficial for non-cash payments. Moreover, this does not include operations for transferring money to card accounts of other banks and unique transactions, for example, quasi-cash. This is expressed in several factors:
- Privileges in the form of cashback when paying by card.
- The presence of an interest-free grace period when the bank’s money can be used for free.
- High rates and commission charges when withdrawing cash from credit. Moreover, sometimes banks impose an additional fee on the issuance of even their own savings deposited into the account.
Consequently, the borrower can purchase a certain product and, by returning the money during the grace period, do not pay interest. Considering that the grace period can last a relatively long time, it is possible to regularly “borrow” funds from the bank with a minimal overpayment, which will only include annual maintenance and SMS notifications.
Credit cards are very beneficial for large but short-term expenses, such as purchasing household appliances. In addition to the grace period, you can receive cashback, which fully or partially compensates for the fee for servicing the card account.
Another advantage of the cards is a revolving credit limit, including a grace period. After the debt is completely closed, the borrower can again use the bank’s money without charging interest.
What's better if you need cash?
If you need cash, a regular personal loan will be the best solution. When receiving funds from a classic credit card, a commission is charged (on average, 2–6% of the amount plus 290–490 rubles). The rate then increases to 30–50% per annum, which is 2 times higher than the terms of standard lending. An alternative option is to apply for one of the special cards for withdrawing cash.
Consumer lending does not involve charging fees. Even if the money is transferred to the card, the borrower is given the opportunity to cash it out without additional fees.
For example, Tinkoff Bank has a Cash Loan product. Funds in the amount of the approved limit are on the card, they can be withdrawn at any ATM: over 3,000 rubles - no commission, for smaller amounts - 90 rubles for each operation. Cashing out does not affect the interest rate, contract terms, or monthly installment.
When deciding whether to take out a credit card to get cash, it is useful to familiarize yourself with the fees.
Credit limits
When choosing between a credit card or a cash loan, the borrower needs to decide on the amount of financing. This is not the most key factor, but in cases where large expenses are expected, there will be few options with credit cards.
Consumer loan programs can be divided into two groups:
- Simplified. A small set of documents is required, the maximum amount is up to 300,000 rubles.
- Standard. The bank needs to check whether the client is solvent, so income certificates are provided, as well as guarantees in the form of collateral, and the involvement of guarantors. The credit limit reaches 1,000,000–2,500,000 rubles.
By taking out a loan secured by property, a borrower can receive up to several million rubles.
The conditions for the card will depend on its level:
- Classic/Standard – up to 300,000–600,000 rubles.
- Gold/Platinum – up to 600,000–900,000 rubles.
- World Black, Ultima, Infinite, Elite, Signature – over 900,000 rubles.
Secondary factors
In addition to financial benefits, you can consider less significant points. For example, the loan repayment procedure will be easier because the bank initially creates a payment schedule, and the borrower always knows exactly how much to pay next month. In the case of a card, everything is a little different: the monthly fee is variable and depends on the amount of spending transactions, or more precisely, on the actual debt.
The validity period of a consumer lending agreement is strictly defined and most often is 3–5 years. At the end of this period, if the obligations undertaken are fulfilled in a timely manner, the relationship between the borrower and the bank is terminated. The card account has a renewable limit and you can use the money for several years. The bank changes the “plastic” itself once every 3-5 years, in most cases - free of charge. The benefit of the card here is that you can use it for a long time and always have money on hand for unexpected expenses.
Credit cards with cashback deserve special attention. When certain debit transactions are completed, the bank will return part of the money to the owner. The percentage of remuneration is 1–10%, privately it can reach up to 30%.
The only caveat is that you cannot connect many bonus categories to the card, but only issue it with a suitable theme or with the most attractive loyalty program. However, you can choose a product of almost any direction: Aeroflot, Pyaterochka, Russian Railways, M.Video, gaming, there is even such an option as “Heat” from the Orient Express Bank - a credit card with a 5% return for payment for housing and communal services, communications, travel transport. A basic return of 1–3% on all purchases is included in the tariffs of almost all cards.
Each banking product has its own advantages and disadvantages - these are the factors you need to focus on when choosing the best financing option. It would be useful to make a preliminary calculation and find out which product will be cheaper. If necessary, bank employees will always help with this - approximate figures can be found by calling the call center or in person at the lender’s office.