Interest-free credit cards: application terms + top 5 most profitable cards

Advantages and disadvantages of bank cards with a grace period

The 100 Days Without Interest credit card issued by Alfa-Bank, as well as credit cards from other banks, are in particularly high demand. Despite this popularity, they have not only pros, but also cons.

Main advantages:

• The ability to quickly obtain cash to purchase goods or pay for services.
• The availability of a long grace period of 100 days or more, allowing you to purchase expensive goods.
• Revolving credit with timely payments.
• The availability of a cash-back option, which allows you to get money back from every purchase. The cashback amount depends on the banks' tariffs. On average, it ranges from 1 to 5%.
• Additional services: internet banking, free or paid SMS notifications for plastic card transactions.
• Holders of gold and platinum cards receive bonuses, great discounts, and an increased limit.
• Simplified application process. You can apply for a zero-interest credit card online without leaving your home.
• Delivery is available via courier or Russian Post. Alternatively, the client can pick up the payment instrument in person by visiting the financial institution.
• Fast processing of the banking product. Depending on the chosen method, it takes from 1 to 14 days. Once activated, the card can be used as needed.

Regarding the drawbacks:

• Not all banks offer a long grace period. It is usually 50-55 days.
• High interest rates for late repayments. Each bank has its own tariffs.
• A fee is charged for cash withdrawals.
• The interest-free period does not apply to all transactions. Benefits may not apply to cash withdrawals, utility payments, or other banking operations.

The fact that the interest-free period does not apply to all transactions is a "trap" for many cardholders. For example, Valentina Mikhailovna received a 50-day interest-free credit card and paid her utility bills with it. She was surprised to be charged interest at the end of the month. After carefully studying the agreement, it turned out that the benefits only applied to cash withdrawals and goods purchases.

Under what conditions can you get a credit card

The conditions for obtaining an interest-free credit card vary by bank, but are generally similar.

• Credit cards are issued to citizens of the Russian Federation aged 23 to 65.

Please note! It can be either decreased or increased depending on credit history and the requested limit.

• Registration within the country is required.

In certain cases, banks issue credit cards to citizens with registration in a specific locality.

• Individuals with a valid passport, an active mobile phone, or an email address can get a credit card.

A message regarding the approval or rejection of the applicant's request is sent to their mobile phone or email inbox.

Note! Banks are reluctant to work with individuals who have a criminal record. They rarely issue payment instruments to them, and if approved, the credit limit on the card is usually small.

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Top 5 credit cards with a profitable grace period of 100 days in 2022

We have prepared a brief review to help you understand which bank offers the best interest-free credit card.

Bank	Card	Limit (thousand RUB)	Grace period (up to)	Cashback (up to)
Alfa-Bank	Visa Classic 100 days interest-free	500	100	—
T-Bank	Platinum	300	365 (at partner stores)	30%
Sovcombank	Halva (installment card)	Calculated individually	18 months	6%
Sberbank	Premium	3 million	50	30%
VTB	Multikarta	1 million	101	10%

The credit cards presented above will help you cope with temporary difficulties, and you will feel the financial benefit. Each banking product has its own competitive advantages, so we will not recommend one specific product over another. When choosing a card, the applicant should consider the parameters that matter most to them and make their choice.

4 ways to top up your credit account on time

According to the terms specified in the agreement, your interest-free credit card requires regular top-ups. Depending on the chosen method, deposited funds do not appear on the account instantly. To avoid overdue payments, you should top up the card in advance.

1. Via self-service terminals. They are installed in almost all cities. A small fee set by the bank is usually charged for the service.
2. Bank cash desks. Making a payment at the bank that issued the card gives the owner certain advantages: instant crediting of funds to the account and no commission.
3. Post office branches. A suitable method for individuals living in small settlements. Funds arrive in the account within 5 business days.
4. Internet. To make a payment, you will need access to your Personal Account. The procedure is done online and takes a minimum amount of time — 5-10 minutes.

When applying for an interest-free credit card, ask the teller about other ways to top up the card.

Did you know? The world saw the first general-purpose credit cards in 1950. They had a small limit of 300 USD. These paper cards were intended for paying for restaurant dinners. Two years later, the banking product became more widely accepted in flower shops and hotels.