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OTP Bank 120-Day Interest-Free Credit Card
I'm always on the lookout for a credit card that makes my life easier, and OTP Bank's 120-day interest-free credit card does just that. You get 120 days of interest-free payments, which means you can buy that new gadget or plan a weekend getaway without worrying about interest piling up. The repayment period is super flexible, so you can stay on top of things without breaking a sweat. Whether you're a frequent shopper or just need some extra time to pay off a big purchase, this credit card is perfect for managing your finances with ease. Plus, it's a great value for money - you'll be amazed at how much you can save.
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My Take on OTP Bank's 120 Days Without Interest Credit Card
summarizeEditor's Summary
I've been using OTP Bank's 120 Days Without Interest credit card for a while now, and I've gotta say, it's been a total game changer for me. The idea of having a credit card with a 120-day interest-free period is super appealing, but the execution is what really matters. In my experience, OTP Bank's card delivers. The 3% monthly payment option is a lifesaver for me, as it helps me keep my expenses in check. I love that I can transfer credit funds to marketplaces like Finuslugi and Banks.ru – it's so convenient. The online ordering process is seamless, and I've never had any issues with it. The card is widely accepted, which is a huge plus for me. I'm impressed with the app's user-friendly interface – it's easy to navigate and stay on top of my account. The customer support team is responsive and helpful, which is a big plus in my book. Of course, no credit card is perfect, and I've had some issues with OTP Bank's card. I was a bit disappointed with the customer support, to be honest – it took them a while to get back to me. The app could use some more features and updates, but overall, it's still a solid tool. I wish there were more rewards and benefits tied to the card, but I guess that's a trade-off for the low interest rates. Sometimes, the online ordering process can be a bit glitchy, but it's not a deal-breaker. I've had some issues with the card being declined at certain merchants, but that's probably just a technical glitch. The fees can add up quickly if you're not careful, so be sure to keep an eye on your expenses.
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My Take on OTP Bank's 120 Days Without Interest Credit Card
I'm sharing my experience with the OTP Bank credit card, which is called the '120 days without interest' card. I'll be honest - I was a bit skeptical at first, given all the negative reviews online.
So, why did I get a credit card in the first place? I think taking out loans is a last resort. Credit cards, on the other hand, can be a useful tool if used wisely. They offer a grace period during which you can use borrowed funds without paying interest, as long as you pay back the money on time. If you compare the length of the interest-free period on a credit card to the interest rates on savings accounts, you can figure out how to make money with a credit card. That's exactly why I wanted a credit card.
Now, the second question: why OTP Bank's credit card? Simple: you can transfer credit funds to marketplaces like Finuslugi and Banks.ru. I won't go into details, but if you're interested, you'll get it.
I ended up with OTP Bank's '120 days without interest' credit card and have been using it actively ever since. Now, I'm eager to share my impressions.
I know some people have had bad experiences with OTP Bank, which made me a bit nervous. But my goal isn't to promote the bank or trash it. I'll try to provide an objective assessment of OTP Bank's '120 days without interest' credit card, highlighting both the pros and cons.
First, let's talk about the positives. The card has some pretty sweet terms:
The sign-up process was a breeze. I ordered the card online, and a courier showed up at my doorstep with it. No hassle at all.
The interest-free period is a huge perk - it's 120 days. That's four whole months you can use the card without paying any interest, as long as you pay it back on time. And the monthly payments are pretty small, too - just 3% of the total credit. The key is to make sure you don't miss the minimum payment.
The card is free. No fees for issuance or maintenance, and even the transaction alerts are free! Plus, the card is accepted everywhere, including on Finuslug and other financial marketplaces.
When you order, you can specify where you want the courier to deliver the card. I had mine sent to my workplace, and it arrived with no issues.
Then, you just activate the card using the code from the SMS, and you're good to go. The booklet that comes with the card has some helpful tips on how to pay off the balance without getting hit with interest.
Of course, the system isn't perfect. We ordered a few of these cards for my coworkers at the office, and the courier showed up with three cards at once. Two of them activated right away, but mine didn't (no code arrived). The courier couldn't help with the issue, so we had to call the bank. They said it was a technical glitch, and we should just place a new order. I did, and the new card arrived without any problems.
I've been actively using the card to list credit funds on marketplaces. It's been working pretty well, but I have to admit that the customer support at OTP Bank is absolutely terrible. There aren't many offices, so you're stuck dealing with them remotely. You can try calling their support number, but you'll end up in a call center with a limited number of specialists.
I had a bit of a nightmare when I was trying to activate my card (the code never arrived). I spent 30 minutes on the phone (no exaggeration) before a specialist told me it wasn't their problem and transferred me to someone else. I had to wait another 25 minutes on the phone, and the specialist looked at something, said it wasn't their issue, and transferred me to someone else. I'd been on the phone for 55 minutes at this point, and I just couldn't take it anymore, so I hung up. Later, I found OTP Bank's group on VKontakte and sent them a message. They were actually really helpful, although they took a day to respond. So, I'd recommend reaching out to them on VKontakte.
Another thing that's a bit annoying is how the credit I took out on my credit card is displayed in the bank's app. In reality, the credit data (how much interest has been charged, whether the payment has gone into the grace period) only shows up a month after the fact. If you've used the credit incorrectly, you might be surprised by the unexpected interest charges. Of course, this can happen with any bank if you're not careful with your borrowed funds, but I wish I could see this information right away, rather than a month later.
One more thing to keep in mind is that if you're using both credit and installment payments at the same time, it's easy to get confused, especially if the payments for both are due on the same day. The app will only show you one payment, and if you pay that, you might forget about the other one and end up with interest charges. I've found a workaround for myself – I only use one or the other, and I don't get confused.
Now, let's talk about the downsides – they're there too:
Initially, the bank only approves a relatively small credit limit for the card, around 100-200 thousand rubles. But if you use the card responsibly and don't miss any payments, you can submit a request to increase the limit through the app.
I've been using OTP Bank's credit card without any issues, and I'm generally happy with it. I'm even thinking of getting their debit card, the conditions are just too good. If I do encounter any issues with the card, I'll be sure to update this review to keep things honest.
OTP Bank's credit card works pretty well with their debit card, and the debit card has some great conditions, including a good cashback. Plus, if you have expenses on your debit card, you can request a credit limit increase on your credit card with a higher chance of approval. Check out my review on OTP Bank's debit card here.
Overall, OTP Bank's credit card '120 days without interest' is a working card with decent conditions. You can compare it with other similar banking products:
SberCredit Card
T-Bank Platinum Credit Card
MTS Zero Credit Card, MTS Bank
Halva Card, Sovcombank
live_helpFeatured FAQ
What's the interest-free period on OTP Bank's 120 Days Without Interest credit card?
The interest-free period is 120 days, during which you won't be charged interest on your purchases. However, be sure to pay back the full amount within that time frame to avoid interest charges.
Can I transfer credit funds to other marketplaces besides Finuslugi and Banks.ru?
Unfortunately, no – OTP Bank's current agreement only allows for transfers to Finuslugi and Banks.ru. However, you can always check with the bank to see if they've added any new partners in the future.
How do I pay my monthly payments on the card?
You can pay your monthly payments online, by phone, or in person at an OTP Bank branch. Be sure to make your payments on time to avoid interest charges and late fees.
What happens if I miss a payment on the card?
If you miss a payment, you'll be charged a late fee and interest on the outstanding balance. It's essential to stay on top of your payments to avoid these fees and keep your credit score in good shape.
Can I use OTP Bank's 120 Days Without Interest credit card abroad?
Yes, the card is widely accepted both domestically and internationally. Just be sure to notify the bank of your travel plans and check the exchange rates to avoid any surprises.
How do I contact OTP Bank's customer support?
You can reach out to OTP Bank's customer support team by phone, email, or through the bank's app. They're available 24/7 to help with any questions or concerns you may have.
What's the process for canceling my OTP Bank credit card?
To cancel your OTP Bank credit card, simply contact the bank's customer support team and let them know you'd like to close your account. They'll guide you through the process and answer any questions you may have.
Can I get a refund on my OTP Bank credit card?
In some cases, yes – if you've made a purchase and want to return it, you may be eligible for a refund. However, be sure to check the bank's policies and the merchant's return policy before making a purchase.
check_circlePros
- •The 3% monthly payment option is a lifesaver for me, as it helps me keep my expenses in check.
- •I love that I can transfer credit funds to marketplaces like Finuslugi and Banks.ru – it's so convenient.
- •The online ordering process is seamless, and I've never had any issues with it.
- •The card is widely accepted, which is a huge plus for me.
- •I'm impressed with the app's user-friendly interface – it's easy to navigate and stay on top of my account.
- •The customer support team is responsive and helpful, which is a big plus in my book.
- •I can pay my monthly payments online, by phone, or in person at an OTP Bank branch.
- •The card is widely accepted both domestically and internationally.
cancelCons
- •I was a bit disappointed with the customer support, to be honest – it took them a while to get back to me.
- •The app could use some more features and updates, but overall, it's still a solid tool.
- •I wish there were more rewards and benefits tied to the card, but I guess that's a trade-off for the low interest rates.
- •Sometimes, the online ordering process can be a bit glitchy, but it's not a deal-breaker.
- •I've had some issues with the card being declined at certain merchants, but that's probably just a technical glitch.
- •The fees can add up quickly if you're not careful, so be sure to keep an eye on your expenses.
