Major banks massively worsen conditions on credit cards

Banks are making their credit cards less and less profitable - at the beginning of 2025, this trend has only worsened. The other day MTS Bank announced that from February it will reduce the grace period for all transactions from 111 to 51 days for MTS Cashback cards, according to the official message of the organization. The changes will affect cards issued from December 5, 2021 to March 22, 2022, as well as until September 7, 2021.

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In addition, Sovcombank has changed the terms of one of its main products - the card "Halva": it can buy goods in installments in stores-partners of the bank, but for other outlets it works as a regular credit card. Since January 12, for the withdrawal or transfer of borrowed funds from customers will be charged a fee of 399 rubles even with the options "Halva.Ten" + "All and Everywhere". This follows from the official message on the Bank's website. Previously, such transactions were subject to commissions only in users of the card without subscription.

In addition, Gazprombank in recent days reduces the limits on its credit cards - this was reported by users of the forum "Keep Money!" and the People's Rating "Banki.ru". They stated that the maximum amount of borrowing could be reduced many times, but in most cases to a symbolic 10 thousand rubles. At the same time, the reduction of the limit did not depend on the frequency of use of plastic.

Banks are worsening conditions on credit cards because of the rising cost of funding - the key rate is at a high level (21%), explained analyst of Freedom Finance Global Vladimir Chernov. Against the background of the growth of the key rate, market participants are offering higher and higher interest rates on deposits - according to Izvestia, they average 21%, but there are offers of 25% for six months.

"Attracting funds to deposits is now more expensive for banks, so the income on the loan portfolio is gradually decreasing," he emphasized.

At the same time, the full cost of consumer loans is now obstructive - about 34%, wrote earlier "Izvestia". Therefore, borrowers tend to use credit cards more actively, as this is the only way to get affordable funds in debt, said economist Andrei Barkhota. Thanks to the grace period, customers can get funds and not pay for the use of interest - after its expiration, you can get a new card in another bank and start the process again. But for financial organizations it is unprofitable.

Read more in the exclusive material "Izvestia":

Grace is delayed: major banks massively worsen conditions on credit cards