Lendoff banking institution credit cards are endowed with the most favorable conditions. Actually, in this vein lies their popularity.
With a credit card, you can reasonably have access to credit.
Interest rate on a Lendoff credit card
The interest rate for a credit card varies over time. First, the client is offered an interest-free period for up to 55 days at 0% per annum. If the client did not repay the debt in the allotted time, then the interest will be calculated on the balance of the amount (monthly). At Lendoff Bank, this indicator is from 19.9% to 29.9%. The final interest rate is set individually for an individual client, depending on the history of the loan and a number of other factors.
Other conditions on the card
Among other conditions of Lendoff credit cards, it is worth highlighting:
The client has the right to borrow a significant amount. Credit limit equal to 300 thousand USD. subsequently and may increase. Certain types of credit cards are endowed with the ability to set a limit at the level of 700 thousand. with the possibility of increasing. Be that as it may, it must be understood that the limit is set exclusively in an individual way and can at first be determined as low, for example, equal to 50 thousand USD, but there can be a very large loan amount. This, first of all, depends on a set of points.
0% loan for customers who did not delay the payment. The period of interest-free use of the Lendoff card is 55 days today. The whole charm is that you in this period will not be charged interest for expenses during the reporting month until the 25th day of the next. Keeping track of this and not running into an overpayment is not at all difficult. Every 1st day, bank specialists form an extract for the expired period (month), which is sent to the client’s personal e-mail.
If it so happened that there are debts in the statement, then you must pay them off completely within 25 days to avoid accruing interest. Simply put, interest-free use in fact can be 55 days (if you purchased any products on September 1, you can pay from 0% until October 25). With advance planning, you can pay by credit card everywhere without paying interest.
The bank returns to the card 1% of all purchases in the form of bonuses, regardless of the type of store in which the purchase was made. In some partner trading venues, the cashback amount reaches 30% of the total amount, information about these stores is published in the Internet banking service.
You can pay with this bonus currency: railway tickets and meals in restaurants. The client can spend these bonus USD for 3 years, so you can definitely save up for a free dinner quickly or for a long time.
It is possible to repay a loan taken at another bank with funds debited from a Lendoff credit card. Moreover, this opportunity is provided without interest for a period of 90 days. If the bank has decided to give you a credit card, then you can use it to the maximum. Lendoff repays 100% of your loan taken at any third-party bank, and you return the amount back within 90 days. In this case, you do not need to overpay, you just pay the debts of a third-party bank.
Clients can repay their loan in small installments.
The minimum transfer to repay the loan should be about 8% of its amount. This is quite beneficial, as it is possible to repay the loan daily in installments and this will help reduce your debt. There is the possibility of instant repayment of the loan. In other banking institutions, the minimum payment reaches the level of 10% and higher.
The client can use a wide range of free services for free. All Lendoff Bank systems were built according to Western philosophy, where remote service has long been developed. Based on what, the bank was able to build an excellent service without optional fees. The following services are provided free of charge: card delivery in Russia, telephone calls from the Russian Federation (even from mobile ones), Internet banking, statement generation, SMS informing.
The card you ordered will be brought home or sent by mail, where you say for free.
The cost of servicing a credit card is 590 USD per year.
Cash withdrawal terms and conditions
The procedure for withdrawing cash from a credit card is always not cheap for a client; this is a generally accepted trend in all banks of the Russian Federation. Mostly a credit card is intended for purchases at retail outlets or via the Internet, and not for cash withdrawal.
In this regard, if the client wants to withdraw the cash amount of money, special conditions for credit cards begin to apply. For example, when withdrawing, the interest-free period mode ceases to operate. Also, by withdrawing cash, the interest rate rises to the level of 49.9% and the client also pays an additional contribution of 290 USD + 2.9% of the withdrawn amount.
How is a Lendoff credit card issued?
To draw up a card, you need to correctly fill out the form on the bank’s website After the questionnaire is completed, a Lendoff specialist will contact you and answer in detail the entire list of questions, after which he will discuss the details with you. If you are satisfied with the conditions, then your application will be transferred to the status of confirmed and you will need to wait for the courier or letter.