Renaissance Bank 2-Year 0% Credit Card

Card issuance, as well as re-issuance due to expiration or at the bank's initiative, is always free. Renaissance Bank also charges no fee for card usage during the first year. 

Additionally, you can opt in for transaction notifications. The cost of this service is 199 RUB per month. You can also purchase voluntary insurance. Its cost is:

• 1.99% of the credit card limit when signing a personal life and health insurance agreement;

• 199 RUB per month when signing a cash protection insurance agreement;

• 1.99% of the credit card limit when signing an involuntary job loss insurance agreement.

The credit limit on the card is up to 600,000 RUB. It is determined for each borrower individually.

For purchases made in the first month of service, a 2-year grace period applies. From the second month onward, the standard interest-free period is up to 200 days. It applies only to purchases.

The minimum monthly payment on the credit card is 3% of the debt amount, but not less than 300 RUB.

The bank does not charge interest on purchases made within the grace period. Outside the interest-free period, the interest rate is applied as follows:

• 27.9% per annum is charged by the bank on purchases made outside the grace period;
• 69.9% on cash withdrawals and transfers made outside the grace period.

If the minimum payment is missed, the bank charges a penalty of 20% per annum on the overdue debt amount.

For cash withdrawals, you will need to pay a fee of 5.9% of the transaction amount plus 590 RUB. For transfers, you will also need to pay 5.9% of the amount plus 590 RUB.

By paying with your credit card, you can earn cashback on purchases at Renaissance Bank partner stores of up to 50% of the amount spent.

You can also receive discounts of up to 50% at Renaissance Bank partner stores.

Borrowers who meet the following requirements can apply for the credit card:

• are citizens of the Russian Federation;
• have permanent registration within the territory of Russia;
• aged 20 to 70 years old;
• have a permanent source of income.

To obtain the credit card, you only need to provide a Russian passport. However, the bank may additionally request documents confirming your income and employment.

Pros:

• free card issuance;
• free card maintenance;
• high credit limit — up to 600,000 rubles;
• long grace period — up to 2 years;
• cashback accrual of up to 50% of the purchase amount;
• возможность получить карту в 20 лет;
• can be applied for with just one document;
• home delivery of the card by courier.

Cons:

• high interest rate outside the grace period — up to 69.9% per annum;
• high fees for cash withdrawals and transfers;
• the bank may request documents confirming income and place of employment.