MKB "Mzon Bolshe" Credit Card

You can get and use the card for free. You can also reissue the card for free up to two times before its expiration date. For each subsequent reissue, you will have to pay a one-time fee of 299 RUB. The cost of urgent issuance for a new card is a one-time 900 RUB. As an additional service, you can enable transaction alerts. The cost of this option is 119 RUB per month.

If you do not use your credit card for a year, the bank charges a maintenance fee for the inactive card account. The fee equals the account balance, but not more than 150 RUB.

Moscow Credit Bank offers a fairly large limit ranging from 30,000 RUB to 1,000,000 RUB. However, you will only find out the available amount when signing the agreement. This is because the limit depends on several factors, including your credit history, debt load, salary, place of employment, dependents, and so on.

Despite the fact that MKB offers a large credit limit, it is impossible to get the maximum amount right away. Especially if you are not a salary client of the financial institution and do not have a large open deposit. In this case, you will most likely be approved for no more than 50,000 - 100,000 RUB.

In the future, you can increase the available amount if you regularly use the credit card and make mandatory minimum payments on time, meaning no overdue payments.

MKB offers a long grace period of up to 123 days for the "Mozhno Bolshe" card. However, it only applies to purchases. This means the financial institution charges an interest rate for cash withdrawals and transfers of credit funds.

If you do not have enough funds to fully repay your card debt, you can make only mandatory minimum payments. The amount is 2% of the debt, but not less than 100 RUB.

Making mandatory minimum payments is required. If you fail to do so, you will incur overdue payments, and the bank will charge a penalty on the debt amount and report the debt information to the Credit History Bureau.

As mentioned above, MKB does not charge interest only on purchases provided the debt is repaid before the end of the grace period. In other cases, the overpayment on the credit card is:

• from 40.7% to 42.8% on purchases if the debt is not repaid before the end of the grace period;
• from 40.7% to 42.8% per annum on cash withdrawals and credit funds transfers.

As stated above, if you do not have the funds to fully repay your card debt, you can make only mandatory minimum payments. If you fail to do this, the bank will charge a penalty. The rate is 20% per annum of the overdue debt amount. 

The bank will also send information about the overdue payment to the Credit History Bureau, meaning your credit history will worsen.

The advantage of this credit card is that you can withdraw cash without commission. The transaction limit is up to 50% of the credit limit per month. If you exceed this amount, you will need to pay a commission of 4.9% plus 490 RUB.

The card features a simple bonus program. By paying with the credit card, you can receive cashback of:

• up to 5% for purchases in selected elevated cashback categories;
• up to 30% for purchases at partner stores.

The earned bonus points can be exchanged for rubles at a rate of 1 point = 1 RUB.

MKB does not impose strict requirements on its borrowers. To get a credit card, you must meet the following criteria:

• be a citizen of the Russian Federation;
• have registration at a place of residence in the Russian Federation;
• be at least 18 years old;
• have a steady source of income.

There is another important condition. The legal or actual address of the employer must be located in the supported regions of the Russian Federation. This also applies to the registration address of non-working pensioners.

As for documents, you only need to provide a passport of a citizen of the Russian Federation to apply for a credit card. However, if your credit history is not very good or you are requesting a large limit, you will also need certificates confirming your income and place of employment.

Pros:

• free card issuance;
• free card maintenance;
• large credit limit — up to 1,000,000 RUB;
• long grace period of up to 123 days;
• no interest on cash withdrawals for up to 50% of the credit limit per month;
• opportunity to receive up to 30% cashback;
• option to apply for the card with just a Russian passport.

Cons:

• high commission for cash withdrawals and transfers of credit funds when limits are exceeded;
• the bank may request documents verifying your income and employment.