- - credit card;
- - credit agreement.
In order to determine how to use a credit card, you must specify how determined grace period.After all, in fact, it promises that the credit limit will last 50, 60 or 100 days does not mean that you need to return the money will be for 50,60 or 100 days, and not before.
on any credit card has a so-called settlement and payment period.The billing period the card holder spends money, and the payment is calculated on the debt.The meaning of the grace period is that you can pay by credit card with money and do not pay interest and commissions, only need to have time in the allotted period of the bank.
settlement period is determined by each bank on its own.As a rule, the duration is the same everywhere - 30 days, but the reference point - different.This can be the date of recei
pt of the card, the first day of each month, or the date of the first operation (activation) on the map.
Then begins the billing period in which to repay the full amount of the debt.If the debt is repaid in full, the entire amount will be charged interest.The duration of the billing period may be 20, 30 or even 70 days.This period in conjunction with the thirty days of the billing period and a grace-period 50,60, or 100 days.
After the first month's billing period starts the second billing period.Its duration is also 30 days.In this same month can be calculated, and payment.For example, you have a card with a limit of 50 tys.r.You paid card purchases on January 1 $ 20 tys.r.If the grace period is set within the 55 days, you have to repay before 25 February.In February, you can also make a purchase within the credit limit (30 tys.r.).But this amount is necessary to have time to pay off until February 25, otherwise be charged interest for the use of credit facilities.
Sometimes banks have fixed pay period, for example, the 25th day of each month.This means that if you have spent the money on June 20, your grace period will be only 5 days.Debts have to be repaid by June 25th.If you made the purchase on June 26, then you have a month to to repay.
less common scheme of the grace period in which you need to repay within 30 days of purchase.For example, you make a purchase using the card on June 30 and the second - 15 July.Accordingly, until July 30, you need to pay off the first debt, and before August 15 - the second.
If you do not have time to pay off the debt within the grace period, you must extinguish its minimum payment.Their size is different for each credit card.This may be 3%, 5% or 10%.For example, when the debt of 20 tys.r.you must pay each month from 600 to 2000 r.If late payment of the minimum payments the bank may impose a penalty on the borrower, and the information is passed on delinquency to credit bureaus.
grace period may not extend to all operations.Thus, under the terms of most of the banks included in the grace-period operation only non-cash payment for goods and services.And for cash withdrawals, in addition to commissions, interest will accrue on the basis of the established rate.
Try not to withdraw cash with a credit card, becausein this case, still have to pay a penalty fee.