S7 — T-Bank Premium credit card from T-Bank

The bank does not charge a card issuance fee — you can get it for free. However, credit card maintenance is paid. The cost is 1,990 RUB per month. The bank charges this fee monthly on the statement date. You will not have to pay maintenance fees for the first statement period following your first purchase transaction. 

Credit card maintenance can be free if the following conditions are met:

1. If you maintain a minimum balance on your deposit, savings, card, or brokerage account of 3,000,000 RUB or more per month.
2. If you maintain a minimum balance on your deposit, savings, card, or brokerage account of 1,000,000 RUB or more per month and make purchases totaling 200,000 RUB or more per month.
3. If you receive a salary of 400,000 RUB or more per month credited to the card.

As an additional service, you can connect transaction alerts for deposits and withdrawals. This option is always free. You can also optionally purchase financial protection for the funds on your credit card. This is a paid service costing 0.89% of the debt amount per month.

The credit limit here is significantly higher than on the classic "S7 — T-Bank" card, ranging from 15,000 to 2,000,000 RUB. You will only find out your available amount after the card is approved.

However, we should note that getting the maximum credit limit right away is almost impossible, especially if you are not a payroll client of T-Bank. If you are applying to the financial institution for the first time, you will most likely be approved for a small amount, ranging from 15,000 to 100,000 RUB. In the future, you will be able to increase your available limit by regularly using the credit card and making required payments on time.

The grace period on the premium card is the same as on the classic card. It is up to 55 days for regular purchases and from 2 to 12 months for purchases at T-Bank partner stores.

In the first case, the length of the interest-free period depends on the day of the month you make your purchase. In the second case, the installment duration depends on the specific store's terms.

The minimum payment on the "S7 — T-Bank Premium" card is no more than 8% of the debt amount, but not less than 5,000 RUB. That means even if you spend only 15,000 RUB during the billing period, your mandatory payment will be 5,000 RUB.

The interest rate on the premium card is significantly lower than on the classic one. Thus, if you fail to fully repay the credit card debt before the end of the grace period, T-Bank will charge:

• from 12% to 27.9% per annum on purchases of goods and services;
• from 25% to 39.9% per annum on cash withdrawals, borrowed funds transfers, and equivalent transactions.

If you do not repay the debt before the end of the grace period and fail to make the required minimum payment, T-Bank will charge a penalty. It is 20% per annum on the overdue debt.

The terms for cash withdrawals and borrowed funds transfers here are standard. The advantage of this card is that you can not only use it to pay for goods and services, but also send money to other people. The limit for free transactions is 50,000 RUB per month. If you exceed this limit, you will have to pay a fee of 1%, but not less than 390 RUB.

You can also withdraw cash from the card for free. The cash withdrawal limit for the credit card is 100,000 RUB per month. The fee for exceeding this limit is 2%.

By paying with this credit card, you can earn profitable cashback on purchases:

• 2 bonus and 2 status miles for every 60 RUB spent on regular purchases;
• 4 bonus and 4 status miles for every 60 RUB spent on purchases with S7 Airlines;
• 18 bonus miles for every 60 RUB spent on purchases at partner stores under T-Bank special offers.

In addition, you can receive 20,000 gift miles if you make a purchase of 600,000 RUB or more in the first three months from the credit card activation date.

You can spend bonus miles on airline tickets, extra baggage, seat selection, and cabin class upgrades. You can also send bonuses to friends or donate them to charity. You can spend status miles to upgrade your status in the S7 Priority program.

In addition to classic cashback, having a premium credit card provides the following benefits:

• access to airport business lounges worldwide;
• a dedicated support line;
• round-the-clock concierge service;
• the ability to pay with the card abroad (in Abkhazia, Belarus, Vietnam, Kazakhstan, Cuba, Tajikistan, and South Ossetia);
• free mobile communication throughout Russia;
• extended travel insurance.

T-Bank does not impose strict requirements on its clients. You can get a credit card if you meet the following criteria:

• have Russian citizenship;
• have permanent or temporary registration in the Russian Federation;
• at least 18 and no older than 70 years old.

The only document required to apply for a credit card is your Russian internal passport. However, if you are requesting a large credit limit or do not have a very good credit history, we also recommend preparing certificates confirming your income and place of employment.

Pros:

• free card issuance;
• free maintenance subject to conditions;
• long period for using borrowed funds — up to 12 months;
• high credit limit of up to RUB 2,000,000;
• no interest for cash withdrawals up to 100,000 RUB per month;
• no interest for transfers of borrowed funds in the amount of up to 50,000 RUB per month;
• profitable bonus program for those who use S7 Airlines services;
• ability to apply for a credit card with a single document.

Cons:

• paid maintenance if conditions are not met;
• high commission for cash withdrawals and transfers if conditions are not met;
• the bank may request certificates confirming income and employment.