Amount to maturity in the grace period. What is grace period on VTB Bank credit card?

A grace period on a credit card represents a certain time period during which you can return borrowed funds without paying interest. When using a credit card with a grace period, it is important to know how to correctly calculate, calculate the amount due and when it expires.

Grace period - what it is and how it works

Each credit card implies the opportunity to spend money within the credit limit allowed for a particular client. Like any loan, they must be repaid taking into account the assigned interest rate. In recent years, credit cards with a grace period issued by almost all financial institutions have become widespread.

Grace period is called preferential or interest-free. During the grace period, reduced rates apply or no surcharge is charged at all. If payment does not occur at this time, interest is accrued to the amount of debt (usually an order of magnitude higher than for cards without a grace period or for consumer loans).

The credit card does not contain hidden fees or other pitfalls. The issuer's profit is formed due to cases when borrowers do not have time to repay during the grace period and are forced to pay an increased cost for using the loan.

There is a grace period for all amounts of expenses incurred with a credit card: payments in retail stores, in the Internet space, transfers in favor of companies or individuals. A cash withdrawal operation may be included in the grace period, or it may include an increased rate applicable from the first day of withdrawal. Each organization defines this parameter individually.

Duration and ending in different banks

Knowing how to calculate correctly and when the grace period ends is most important for borrowers who want to use loans without overpayments. The length of the grace period for a credit card varies with credit organizations, and on average is in the range of 50-60 days. With such a period, Sberbank, Raiffeisen, Bank of Moscow, Russian Standard, Renaissance, Avangard, Tinkoff, VTB 24, Alfa-Bank, UBRIR, Probusinessbank, Rosbank, URALSIB, UniCredit Bank and others offer credit cards.

However, the proposals may vary greatly:

• Alfa-Bank: up to 60 days, on cards 100 days - up to 100;
• Mail Bank: up to 120 days on the card Element 120;
• VTB 24: up to 50 days;
• Tinkoff: up to 55 days;
• Sberbank: up to 50 days;
• Asia Pacific Bank: up to 92 days;
• UBRD: up to 60 days;
• East Bank: up to 56 days, on the card Simply - up to 60 months (for the entire duration of the action).

Some organizations offer extended grace periods on certain types of credit cards. In this case, pay attention to the interest rate:

• Alfa-Bank: from 23.99%;
• Post Bank: 27.9%;
• VTB 24: from 24.9%;
• Tinkoff: from 15%;
• Sberbank: from 23.9%;
• Asia Pacific: 33%;
• UBRD: 27%;
• Eastern: from 29.9%, 0% by Simple.

As you can see, the longer the grace period on the card, the higher the amount of overpayment upon repayment after the deadline. When considering conditions, consider the nuances. So, a credit card for Just Vostochny Bank offers an unlimited interest-free period and 0%. But for this product you need to pay 30 rubles a day, if there is a debt. In the end, you get a debt in excess of the amount of the initial loan.

The procedure for calculating the amount and term

Having found out that this is a grace period, it is necessary to clarify how to correctly calculate it - when it ends. The grace period is always indicated before. This is due to the fact that the time period varies depending on the date of purchase.

Grace period includes two required values:

• Reporting period: equal to one month and starts from the day the card is activated.
• Billing period: lasts until the specified date (25 days with a grace period of 55).

If a credit card is received on the 15th day and the first purchase is made on the same day, all 55 days (or another established tariff) will be paid off. If you make the purchase on the 30th, respectively, and the grace period will decrease by 15 days for this loan.

If the payment is made on the last day of the reporting month, only 25 days remain (at 55 days), if earlier, all days remaining until the end of the billing period. The end of the grace period for each case varies due to the time of payment.

The difficulty in calculating the grace period is that they overlap each other. So, the time for payment for the first month is already a reporting period for the next.

Some institutions do not allow the use of borrowed money until the client settles on previous obligations. Others charge fines to outstanding debts and allow the formation of new debts.

Features of credit card repayment

At the end of each month, the client receives an extract (or it is formed in the Personal Account), where it is indicated:

• Amount payable in grace period - the amount of funds used from a credit card per month;
• The end of the interest-free period for repaying a loan without overpayments;
• Interest rate at the end of it;
• The minimum payment to be made if payment of obligations in the grace period is not obtained;
• Fines, penalties and other debts for previous periods (if any).

You can pay by credit card from the first day of the generated debt, without waiting for an extract. At the same time, it will show which part of the obligations has already been paid by the end of the month.

To comply with the rules of using a credit card, it is necessary to make a mandatory payment in the grace period, if all is not possible to pay. It is assigned within 3-8% of the amount spent. If they are not paid, then fines are applied that significantly change the amount of debt. After payment of the required amount, the application of the tariff begins.

Conclusion

To use credit funds from the card without overpayment, it is necessary to return them to the grace period. When it happens and what it is, the end of the grace period depends on the conditions of the organization. On average, the interest-free period lasts 50-60 days, in some cases - up to 120 or more. The interest on a credit card is usually quite high, and begins to apply after the end of the grace period.

In the article:

The main difference between a credit card and a regular loan is the provision of the so-called grace period for the use of borrowed funds. This means that the money issued by the bank to a private person is allowed to spend at its discretion a certain number of days. And during this period no interest will be calculated. This period is called the VTB 24 credit card grace period.

What is VTB 24 credit card grace period?

A grace period or grace period (from the English word grace - period) is a certain number of days during which interest on the amount spent is not charged. For different banks, the duration of the period varies from fifty to one hundred days. But the conditions for using such a period vary quite a lot.

What is a grace period by credit card. How to calculate the grace period

Grace Period Conditions

Cash and bank transfer on the card

The borrower should remember that a credit card differs from a debit one not only in the presence of a grace period and interest accrual. Credit card - and this applies to absolutely any bank! - Designed for use in cashless payments. When withdrawing cash from a credit card, a fairly serious commission will be charged, and the grace period is not taken into account.

Interest on the withdrawn amount is calculated from the first day of cashing a credit card. This is the reason that the terms and conditions of the grace period apply to those amounts of money that were spent by bank transfer - for example, at gas stations, in boutiques and restaurants, shops and supermarkets. In a word, at any retail outlets accepting plastic cards for payment.

Loan payments

When using credit cards, special countdown dates apply. At VTB Bank, the 20th countdown date is traditionally considered the 20th day of the month. If expenses were made in the previous month - if the client paid by the card several times - then in order to avoid interest calculation it is necessary to pay the amount proportional to the spent by the 20th day.

For example, having received a credit card on March 1, a customer made several purchases totaling 12,000 rubles during March and April. Before April 20, he needs to deposit this amount on a credit card if he does not want to pay interest. The amount may be paid in full, one-time, or in installments.

In the absence of such an opportunity, it is worth remembering that after April 20, interest will be calculated on a credit card, and they must be paid. In this case, the interest will be calculated on the balance of the debt - of course, if at least part of the money spent was deposited on a credit card.

Grace Cancellation

If, within thirty days, the amounts spent with a credit card were not returned to it, in this case the benefit will be canceled.

Money is not credited instantly, but takes a certain amount of time. Therefore, to pay off debt, you should think long before the 20th day.

Conclusion

Plus, there is such a nuance as a method of making a payment. If the borrower deposits money on the 20th of the day in the VTB24 branch, then in this case you can not worry about the delay - the amount deposited will reach quickly enough.

But if the borrower prefers to use other banks or third-party payment systems, then you should take care to make the payment in advance, because the transfer of finance between banks can take two or three days.

In addition, if the reporting date falls on a weekend or holiday, you should be aware that the payment date will shift to an earlier date. Do not expose yourself to the risk of interest. After all, the grace period on the VTB 24 card is an effective way to use borrowed funds.

When choosing a credit card, the main criterion is the duration of the grace period. It is believed that the longer it is, the better. But in reality this is not always the case.

In the article, I not only talk about the features of the grace period and give advice on its beneficial use, but also give an overview of the best credit cards with grace.

What is a grace period for a credit card, and how does it work?

In simple words, a grace or grace period is a certain time interval during which interest on the use of borrowed funds is not charged to the credit card holder. Some banks charge a fee during this period, but at a lower rate. In other words, you can use borrowed money for quite a long time, and then pay off the debt without interest.

The main condition for the provision of grace in almost all banks is that before the end of the spent amount must be returned in full. Otherwise, interest will be withheld at the standard rate. It may also be agreed that the next grace period will not be granted until the debt for the previous month is paid off.

Important! Using grace does not eliminate the need to pay minimum payments. For example, on an Alfa-Bank card, 100 interest-free days are provided only if a certain part of the debt is paid monthly.

In most banks, the grace period lasts up to 50-55 days, but some financial institutions offer 100 days or more.

Often, grace applies only to non-cash transactions, while often “preferential” spending is limited to a certain list. Almost always, without interest calculation it will not work:

• withdraw cash;
• transfer money to friends or relatives;
• transfer money to the company by details;
• top up an electronic wallet;
• pay for mobile communications through your personal account;
• replenish your account, etc.

But some banks still provide the opportunity not to pay interest for all transactions made on the card, including cash out and money transfers.

The main trick of banks is that grace does not start from the date of purchase. That is, simply adding 50 or another number of days to it will be wrong.

For each credit card, the conditions for providing an interest-free period will be different. But there are general calculation rules that can be applied to most banks.

To analyze the most common scheme for calculating the grace period, you need to parse 2 concepts:

1. Settlement period - the time period during which the client spends funds. It is usually 30 days, but does not always start on the 1st of the month. The starting point can be the date of activation of the card or the first transaction on the account, and the bank sometimes sets a certain number itself. Each month on the indicated date, a new billing period will begin.
2. Billing period - a period of time during which the client must deposit the money spent. Almost always, it begins immediately after the end of the billing period; its duration is set by the bank.

There is also the term “amount to maturity” - the amount of money that must be paid before the end of the payment period for using the grace. If you pay it only partially, then the opportunity to use money without interest will not be provided.

Example

On the map of Anatolia, the billing period begins on the 5th day of each month and lasts until the 5th day of the next. Grace at its rate is up to 55 days. Of these, the settlement period lasts 30 days and 25 the payment period.

Anatoly made the following expenses:

• May 6 - 12,000 rubles;
• May 16 - 10,000 rubles;
• June 6 - 5,000 rubles.

After June 5 (the last day of the billing period), Anatoly will have 25 days to pay the amounts spent. That is, he must pay 22,000 rubles by June 30, otherwise interest will be charged on these operations.

Anatoly spent another 5,000 rubles in the next billing period, which lasts from June 5 to July 5. This amount and all subsequent expenses for this period of time must be paid by July 30.

Please note that some banks do not open a new grace until the full refund of all amounts spent during the previous one.

The example above shows not only the principle of calculating the grace period. He also explains why banks write “up to 55 days” - you can use money as long as possible without interest only when making a purchase on the first day of the billing period. In other cases, the duration of the grace may be different. For example, if Anatoly makes a purchase on June 4, then interest-free use of money will last only 26 days. In this case, it is better to wait and transfer the spending to the new billing month.

Dishonest and honest grace - what is it

The scheme described above is familiar - it is it that is used more often and for the longest time. For its designation, the philistine term “honest grace” is used.

But there is another calculation option. However, it is not dishonest or incorrect, it is just different.

Some banks use the following scheme:

• the date of the first purchase is fixed after the credit limit is restored;
• from this moment begins the counting of grace days;
• all subsequent expenses will need to be returned before the specified date.

For clarity, I will give an example.

Semen had a credit card with a grace period of 100 days. On August 1, he spent 5,000 rubles, and then completed another 10 operations within 100 days. He must return all the money spent during this time until November 8 (August 1 plus 100 days).

This scheme is usually used on cards with a grace period of 200 or 100 days. “Dishonesty” is that the client may have very little time to pay off certain operations. If Semyon, for example, makes a purchase on November 5th, then without interest, he will be able to use the amount spent for only 2 days.

With this calculation scheme, almost all banks require monthly payments in the amount of 5-10% of the outstanding amount.

Best Grace Period Credit Cards

The example above shows that it is not always the card with the largest grace period is better than others. When choosing a credit card, attention should be paid to a set of factors - the cost of annual maintenance, remoteness and office hours, fees for cash withdrawals and others.

I analyzed the market and chose 5 credit cards that deserve your attention. Installment cards (for example, Halva from Sovcombank) are not considered in this review.

For clarity and convenience, their basic conditions are summarized in a table.

Vostochny Express Bank and Alfa Bank deserve special attention. Their product line includes both cards with an “honest” grace of up to 56-60 days, and credit cards with the ability to use borrowed funds without interest up to 100-180 days.

Note. The table shows the main tariff plans offered by one or another bank. Many credit organizations offer other cards, but in most cases the features of calculating the interest-free period are similar to those listed above.

Due to the fierce competition between banks in our country, each of them, in order to attract customers, offers the most advantageous offers. To the extent that at the moment the most sought-after banking product is a credit card, and it is the interest-free use of borrowed funds that attracts users. Therefore, lenders offer credit cards with a grace or grace period that can last from 50 to 200 days, depending on the conditions of service. What is a grace period on a credit card and how to calculate it correctly, we will consider further.

What it is

Grace period is a period of time determined by the loan agreement during which the borrower can return funds to the account without additional overpayment.

At the end of the grace period, the bank begins to accrue interest on the balance of the debt. According to this condition, credit card users can use them almost for free, paying only for annual services and additional services.

Many may assume that this condition is disadvantageous for the bank, but this is not so. Firstly, not all customers are able to timely return the money spent in full. Secondly, the loan rate is quite high,   usually over 30%  which allows the lender to make a profit. Thirdly, on many credit cards, the grace period applies only to settlement transactions on the card, or, in other words, it does not apply to cash withdrawals.

Grace Period Calculation Schemes

So, for many users, the difficulty lies in correctly calculating the period of time during which it is exempted from paying interest. To begin with, it should be noted that this same grace period can be calculated in several ways:

1. The validity period of the grace period starts from the date of purchase.
2. The starting point is a fixed date, whether purchases were made by card or not.

Many banks work according to the second scheme, that is, the start of the grace period is the date of activation or receipt of the card.

The grace period is conditionally divided into two periods of time: settlement and payment. During the billing period, the borrower can make payment transactions with the card, and during the billing period it must fully cover the expense. In this case, interest on the loan will not be charged.

Calculation of the grace period

So, suppose that according to the loan agreement, the grace period is 55 days. Accordingly, during the first 30 days you can make purchases or withdraw cash if this operation is provided for by a loan agreement. After this time, the bank generates an account statement and gives the borrower 25 days to fully repay the borrowed funds. At the same time, the user starts again the countdown of 30 days, during which he can again spend money, for which the bank will generate a new report after this period of time.

In fact, the user has only 25 days, provided that the grace period on the credit card under the agreement is 55 days to pay the loan. If he does not, the bank will oblige the client to make a minimum payment of 5-10% of the amount spent. But not all credit card users understand that the minimum amount on a credit card is mainly interest, so if it’s in your interests to pay the creditor faster, make payments several times more.

How to calculate the grace period from the date of the first settlement transaction

Today, banks rarely use this scheme, and its essence is that the countdown from which it begins to operate grace period, starts from the moment when the first purchase was made.  Although this is a more convenient way for a client, if only for the reason that it will be easier for him to control the dates of returning funds and control his budget.

So, for example, the purchase was made on March 19, despite the fact that the card was received or activated much earlier. So, after this date, a report will be generated within 30 days, until April 18, and before May 13, the debt will need to be paid off.

Just do not rely on your mathematical abilities, you should definitely consult with the bank regarding the date of payment, if he himself has not notified about it.

Calculation of a fixed grace period

Grace period popular credit cards

Needless to say, there is a grace period for each individual credit card, that this is an individual offer that determines the benefit for the client from using borrowed funds. It is quite difficult to review all the cards that banks offer today, so consider only a few quite popular options.

Alfa Bank

Here are the most advantageous offers on credit cards, and this is true, because not only does the grace period last 100 days, it also extends to cash withdrawals from ATMs. So, here the client is given 30 days from the moment of receiving a credit card to make purchases and 70 days to pay a debt without interest.

Tinkoff Bank

According to the terms of the loan, the grace period is 55 days; it is valid only when making payment transactions with the card. The starting point is not the date of activation of the card, but from the moment of the first purchase on it. That is, regardless of when the first settlement operation was, the countdown starts from this date, and after 30 days a report is generated. Further, the user has 25 days to pay the full debt without interest.

Sberbank of Russia

In this financial institution, the grace period is 50 or 51 days. The countdown is considered the date of issue of the card, and the user has 30 or 31 days, depending on the number of days in a month, to pay for goods and services with a card, and after the report 20 days for full repayment of debt.

In a word, regardless of the duration of the grace period, the client can spend borrowed funds for a month before calculating the countdown, after which they can be returned to the credit account of the card at a certain time.

Calculation of the grace period on the card of Sberbank

Before you go to the bank and sign a loan agreement, carefully study the terms of the loan, consult with a loan specialist of the bank. When choosing the best option, determine why, in principle, you need a card, if in order to receive cash, then a credit card is not the best option, because in this case there is no talk of a grace period in most offers. Although Alfa-Bank, for example, allows users to withdraw cash with a grace period, a rather high commission of at least 500 rubles is charged for this operation.

At the end of the billing period, it is wise to contact the bank and ask for an extract report on the card to know the exact amount to be paid. By the way, be sure to check with the bank employee for the date of obligatory payment and methods for replenishing the credit account. By the way, for any loan, it’s better to pay in advance, because terms of payment can vary from a few minutes to 5 days.

To track your spending and control the dates and amounts of payment, use remote services, mobile applications or Internet banking.

So, the grace period is beneficial for the client only if he correctly understands how to use this opportunity. Accordingly, be sure to read the loan agreement and check with the loan officer all the nuances of using the grace period. If you do not pay the debt in a timely manner, be prepared to pay a fairly high percentage.

Everyone heard about the grace period on the card, however, few people understand all the intricacies of this convenient banking option. On the one hand, the grace period on a credit card helps financial institutions attract customers to their loan products, and on the other hand, it gives borrowers the opportunity to use credit card money while avoiding interest payments.

What is this preferential option? What are the principles of action? What are the “pitfalls” and advantages of this banking offer?

What he really is?

The grace period on the card is called the length of time during which you can use credit bank money without paying interest on them. Indeed, a very favorable condition, given the fact that the minimum duration of such a period is 20 days. This period is currently offered by almost all well-known banks in Russia.

Credit Multicard VTB 24

The Grace option on a credit card is quite attractive and beneficial for borrowers. Thanks to her, you can pay for any large goods and services without saving your own money for a long time.

Long term preferential services allows you to wait for a salary, and return the money to a credit card without paying a single percentage. But it should be remembered that the free use of credit money requires accurate calculation of own funds.

Benefits:

• quick and free solution to a financial problem. This credit service is very convenient for those who are often delayed at work or who need a small amount for a short period for an urgent purchase or payment;
• renewability. With the full repayment of the previous credit card debt, you can again use the money, with the "removal" of which the "grace" starts again;
• opportunity to earn. The client can put his own money into the savings account, and live with credit card money until the next salary. Then pay off your credit card debt by getting paid. And after paying off the debt, you can again use credit funds, as The grace period on the map is re-counted.

At this time, own money is in the savings account and “earns” you money.

Is it possible to successfully use the grace period?

The psychology of modern people is such that they do not believe in the opportunity to receive such an advantageous banking offer. They believe that even a grace offer is what banks earn on. And after all, they really earn money, but not on the “grace” option itself, but on the lack of discipline of customers. Grace is one option to attract borrowers. And it is really beneficial for customers who regularly monitor their spending and return money to the bank on time.

The average duration of grace periods by credit card is about 55 days, this is exactly what banks offer in most cases. It is much more convenient to borrow money from a bank for a month than to run around relatives and friends. The difference is that the bank will accrue large interest for late repayment, and you will ruin your relationship with relatives and friends. To avoid problems and interest, it is necessary to show responsibility for the debt obligations.

Gold Credit Card Aeroflot Sberbank

Before you spend money on a credit card, you need to correctly calculate the amount and time for which you can return them. In 55 days of the grace period, you will manage to get two salaries. That is, you can easily manage to return money to the banking organization equal to the whole of your salary and avoid accruing interest.

The key to success using the grace option is the correct calculation and disciplined return of debt before the end of grace periods.

What do you need to remember?

Grace period in financial organizations is provided on various conditions:

• someone has a different duration;
• other banks set limits on the amount of credit card or cash transactions that the client can use from the card during a given time;
• in most banks, the grace period expires when cash is withdrawn from the card;

Even before signing the contract, it is necessary to clarify all the nuances of the provision and use of the grace period. Before making this option, be sure to calculate the amount that you can return to the card without a significant blow to the budget. Since at the end of the grace period and non-return of funds to the account, the bank will automatically calculate your interest. You should be aware that interest is accrued not from the moment this service is completed, but from the moment the card was paid. In addition to interest, some banks may also charge penalties for not having time to deposit money before the end of the grace period.

When the grace period is canceled:

1. when cashing out;
2. when transferring funds to other cards and electronic wallets;
3. when calculating a credit card on the internet.

How to calculate the real duration of the preferential option?

Financial institutions calculate this period in several ways. What exactly is the method for your credit card, you need to check with the bank staff or re-read the terms of the contract.

VTB Visa Debit Card

Of course, it is more convenient to learn in advance about the methods for calculating the grace period and choose a bank that provides the one you need.

The first option: dividing the grace period into grace and settlement

This calculation option is the most common in the financial sector and averages 55 days.

The grace period is 30-31 days and it is counted from the 1st of the current month. The estimated term is the remaining 25 days, during which it is necessary to close the debt to the bank, otherwise interest will be calculated.

At the end of the grace period 30-31 days, the bank generates an account statement and sends the following information to the client:

• the amount of debt is indicated;
• minimum payment;
• final settlement day.

According to this calculation option, it is more profitable to borrow money from the bank in the early days of the month. If you make a purchase, for example, on April 25, then your grace period will end on April 30, and on May 1, the settlement period will begin. And if you use a credit card on April 1, then the payment period will be the same - until May 20.

Second option: countdown from the number when the very first card transaction was completed

In this case, the length of the grace period on a credit card is on average 30-31 days, depending on the number of days in a month and is counted from the first purchase in this period. For example, if a client made a purchase on a credit card on June 5, and then on June 8 and June 29, then he must return the money for all 3 transactions before July 5. In case of delay, interest will also be charged on the entire amount of the debt starting June 5.

Third option: countdown from each payment

This method is convenient for those who spend small amounts during the month. In this case, he will have to return the same amounts within 30-31 days. Moreover, each debt has the same grace period.

Aeroflot Credit Card Signature Sberbank

For example, a client paid 500 rubles. for the purchase of September 1, the second waste on a credit card of 1000 rubles. he made it on September 10, and on September 20 he paid off with credit money in the store again, spending 3,000 rubles. That means that he should not accrue interest, he must have time to pay off 500 r. until October 1, 1000 p. Until October 10 and 3000 p. Until October 20th. Very convenient, isn't it?

These are the three main methods for calculating preferential services used by banks. However, there are banks that come up with their options. In any case, before applying for a grace period on a credit card, carefully read the terms of use to avoid interest.

How to repay debt in the presence of preferential conditions?

With a competent approach to the grace period, you can really use the money and not pay any interest. True, banks are not charitable organizations and can take small commissions for non-cash payments and by credit card. Unpleasant, but this is possible.

In order to use bank money without interest, it is necessary to repay the entire amount of the debt before the grace period expires.

If you repay part of the debt, then in this case the bank will still charge you interest for the entire period of using the money. All situations are stipulated by a bank agreement.

1. The customer’s grace period ended on June 5th. He made the money on June 6th. In this situation, interest will be calculated for the entire grace period, and not for 1 day of delay, as some people think.
2. The grace period for the client ends on June 5th. He owes the bank 3,000 rubles. On June 4, he contributed 2,990 rubles, and on June 6 the remaining 10 rubles. In this case, interest is accrued on 3000 rubles for all days of the grace period. And 10 rubles additionally accrued interest starting from June 5.

Instead of a total

People who have been using bank money for several years free of charge without paying interest to financial institutions identify several rules for “free” lending.

VTB Troika Debit Card

1. If there is even the slightest doubt that you do not have time to return the debt to the credit card on time, then do not touch the bank money from the card. If you act according to the rule "spend, and there it may turn out to be returned", then in 90% of cases you will get interest.
2. Pay off your debt 5 days before the end of the grace period or come pay it directly to the bank where you were issued a credit card. Otherwise, there is the possibility that your money will “linger” on the road and will go to the card account after the grace period has ended.
3. Never withdraw cash! The most common condition for having a grace period is to conduct only non-cash credit card transactions. When cashing, the grace period is automatically canceled.
4. Look for free ways to pay debts. For replenishment of credit cards, terminals, ATMs and third-party financial organizations charge considerable fees. Why pay this money if you can go to the bank where the credit card was issued and avoid unnecessary expenses?
5. Not always a credit card with a grace period is more profitable than a regular loan. When choosing a credit card, be sure to read the terms of the contract. Calculate in advance the conditions of the grace period and your ability to pay off debts on time.

It’s possible to use the money of financial institutions for free if you have a grace period! The main thing is to know exactly the date when the debt should be repaid, to remember the operations due to which the grace period can be canceled and be disciplined, and responsible. Observing these usual rules, you will be able to use bank loans all your life without paying a single penny for interest.

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