How to issue and close a credit card. Izvestia's instructions

Credit cards have become an integral part of the financial life of modern Russians. They provide greater monetary freedom, allowing you not to delay purchases and allocate funds more competently. Izvestia tells you how to properly apply for and close a credit card.

Credit and debit card — what's the difference?

A debit bank card is an account where the owner's own funds are stored. Wages, pension payments, or other income may be credited to it. You can use this card to pay for purchases, subscriptions, utility bills, and other services. The main limitation when using a debit card is the inability to spend more than is available in the account (except in cases of overdraft).

A credit card can also be used to pay for goods and services, but the money stored on it belongs to the bank. They are loaned to the cardholder at an interest rate on certain conditions. The amount of available borrowed funds is limited by the credit limit, which is set individually for each client.

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Credit cards provide for a grace period during which the customer can use the money without paying interest. This period applies to certain types of operations and requires compliance with established rules.

The interest-free period includes:

• payment for goods and services via trading terminals;
• online shopping;
• payment for subscriptions and services.

They are not covered by the grace period:

• cash withdrawal;
• transfers to other accounts;
• some operations using QR codes (it is better to clarify the conditions at the bank).

After the funds are returned to the card, the credit limit is restored and it can be used again. In addition, there is a mandatory payment when using a credit card. It must be paid monthly until the credit limit is fully restored. This is not interest, the entire amount is used to pay off the debt. Timely payment allows you to avoid penalties and maintain a positive credit history.

How to apply for a credit card

The procedure for issuing a credit card is as simplified as possible and is available in various ways. A potential borrower can apply through online platforms or directly at a bank branch.

The main ways to submit an application:

• through the official website of the credit institution;
• using the bank's mobile app;
• during a personal visit to a branch of a financial institution.

The standard application contains personal information:

• Applicant's full name;
• date of birth;
• passport data;
• the desired size of the credit limit;
• contact phone number.

To consider the application, you only need a passport of a citizen of the Russian Federation, as well as permanent or temporary registration in Russia. At the same time, you can apply for a card in any region of the country, not just in the region of residence.

Requirements for the borrower

Banks set standard requirements for potential borrowers, which may vary slightly from one financial institution to another. These criteria make it possible to assess the reliability of the client and minimize credit risks.

The basic requirements include:

• citizenship of the Russian Federation;
• age from 18 to 70 years;
• the presence of registration on the territory of the Russian Federation.

Official employment is not a prerequisite. Banks take into account all sources of earnings: scholarships, pension payments, income from entrepreneurial activity or self-employment. Stable account turnover and savings also increase the chances of an application being approved.

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How to close a credit card correctly

Credit cards are valid for a certain period of time, usually 3-5 years. However, the end of this period does not automatically mean the termination of the contract with the bank. The credit account remains active, and the financial institution continues to charge maintenance fees. This may lead to the formation of debt for a customer who has stopped using the card.

In addition, after the expiration date of the credit card, many banks automatically reissue the card — as a rule, this is stipulated in the contract with the client. Therefore, simply stopping using a plastic carrier or destroying it is not enough.

To close a credit card correctly, follow these steps::

• check with the bank if there is any debt and pay it off in full;
• write an application for account closure;
• disable all paid services related to the card;
• withdraw your own funds, if they are available in the account (conditions should be specified in the bank);
• delete the card details from all online services.

You can close the card on the bank's website or in the application, as well as at any branch of a financial institution. The account closing period is usually 30-45 days. During this period, the bank verifies that there are no new transactions or possible write-offs. At the end of the procedure, it is recommended to obtain a certificate of absence of debt — it will be needed if, due to a malfunction, the bank continues to charge money for credit card servicing.

Earlier, the Ministry of Internal Affairs told about a new scheme of fraud involving the issuance of virtual credit cards.