How can I earn money from my Tinkoff credit card?

By using your Tinkoff Black debit card and Platinum credit card strategically, you can earn interest on your transactions and even earn rewards points. Just be sure to read the terms and conditions carefully to understand how the rewards system works.

What happens if I exceed the interest-free period on my credit card?

If you exceed the interest-free period on your credit card, you'll be charged interest on your outstanding balance. Be sure to keep track of your transactions and make payments on time to avoid this.

How do I resolve issues with my Tinkoff credit card?

You can resolve issues with your Tinkoff credit card online, without the need for SMS or registration. Simply log in to your account, navigate to the issue, and follow the instructions to resolve it.

Can I use my Tinkoff credit card for mobile payments?

Yes, you can use your Tinkoff credit card for mobile payments with the adapted sticker feature. This is a convenient way to make transactions on the go.

What is the interest-free period for credit card transactions?

The interest-free period for credit card transactions varies depending on the offer and the bank's terms. Be sure to read the terms and conditions carefully to understand how the interest-free period works.

How do I earn rewards points on my Tinkoff credit card?

You can earn rewards points on your Tinkoff credit card by making transactions with your card and meeting the requirements set by the bank. Be sure to read the terms and conditions carefully to understand how the rewards system works.

Can I use my Tinkoff credit card for overdrafts?

Yes, you can use your Tinkoff credit card for overdrafts, but be cautious not to exceed the interest-free period. Overdrafts can be tempting, but be sure to read the terms and conditions carefully to understand how they work.

How do I return my Tinkoff credit card?

You can return your Tinkoff credit card by contacting customer support and following their instructions. Be sure to read the terms and conditions carefully to understand the return policy.

Tinkoff Credit Card Review: Worth the Hype?

Hello there!

I'm a huge fan of Tinkoff Bank, which I've been banking with since 2018. I've been actively using all their services, and I've earned over 50,000 rubles on my Tinkoff Black debit card by cleverly using my Tinkoff Platinum credit card without paying interest, getting money before payday (and also without interest, by the way), and I even have an adapted sticker for mobile phone payments.

Of course, things haven't always been smooth sailing, but I've never encountered any major issues, and all the minor problems were easily and quickly resolved by the bank, online without SMS or registration.

I've always been cautious with credit products. Yes, I've spoiled myself with credit cards and overdrafts, but I've done it smartly, never exceeding the interest-free period, and even managed to earn some money from it. And I've never spent as much on my credit card as I wouldn't have in everyday life, in other words - I've never lived beyond my means thanks to credit products.

But then my mom passed away. I suddenly fell ill, and then one day I received a call from the ICU.

Putting the emotional aspect of the situation aside, I immediately calculated that I'd be facing significant expenses. And to make matters worse, I'd just depleted my credit card on my mom's medication, wheelchair, and other items for her.

I was sitting in the morgue, listening to the agent, and mentally calculating how much I'd need. The agent and my brain were conjuring up six-figure sums, but I only had a five-figure amount with me.

As I was waiting to pay, I started thinking about my next move – my credit card was empty, my wallet had a tiny limit, and the situation was a bit of a pickle. I'd always avoided loans (ironic, considering my mom had instilled that in me), but in that moment, I realized I needed to take out a loan ASAP.

And that's when Tinkoff Bank came to the rescue!

A bit of a tangent: I've seen my friends take out loans before. The bank, the queue, the passport, filling out the application, waiting for the bank's approval, tacking on additional insurance and services (or else, no way), and then heading to the cash desk to collect the cash. I didn't have time for that.

The banking system has come a long way!

HOW TO TAKE OUT A LOAN IN TINKOFF BANK?

In the bank's app, I tapped on the 'Open a new account or product' section and clicked on 'Apply for a loan' to proceed with the application.

The bank then asked me to specify the amount I needed, and showed me the options: terms and payments. There were a few options to choose from. I opted for a 200,000-ruble loan, a 5-year term, and a monthly payment of 8,250 rubles.

Next, the bank asked me to provide my income information. I work on a labor contract, my employer pays my taxes on time, and my average income is 60,000 rubles, which I duly reported.

I'm glad to say that the bank didn't ask me any more questions. That was a huge relief: no questions about my education, marital status, kids, job, job title, favorite color, my grandma's maiden name, or the brand of my first bike.

It took literally 10 seconds for the magic wheel of approval to spin around, and then a congratulatory message popped up with the credit approval button. After activating it, the money was on my debit card within seconds.

I was just about to make a payment when Tinkoff Bank gave me the credit in under 2 minutes, which really helped me out in a tough spot.

I'm a pretty sensible person: I didn't have any huge debts or late payments before this credit, the amount was manageable for me, and I knew I could cover most of it with my work assistance and funeral benefits by the end of the month, and then pay off the rest quickly. I even had some savings, but they weren't enough at the time, and I didn't want to go into debt completely.

So, I wasn't really bothered about the credit conditions. I just needed a fast credit and a reasonable payment, which Tinkoff Bank provided. However, I later found out that they gave me the credit at...30.9% APR!

Right now, the central bank's credit rate is 16%, and banks take that as a reference when giving out loans. They also consider the client's individual circumstances, debt load, credit score, and other factors.

I'm a long-time user of all Tinkoff Bank's products, including credit ones. I've never had any late payments, my credit score is above average (not high due to my limited experience with credit), and I have a stable income. Can I really get a credit at such a low interest rate?

For comparison, Green Bank offers a 19.9% interest rate and a monthly payment of 5,300 rubles under similar conditions.

To put it simply: if I paid 8,250 rubles every month, I would have paid 477,000 rubles instead of the original 200,000 rubles by the end of the term!

Tinkoff Bank itself states that the possible interest rate is 15.9% to 40% per annum. I don't understand why I, with my credit history, ended up being an underdog and got such a high interest rate.

Putting aside the issue of the interest rate, I knew I wouldn't be able to pay such large amounts, even to my favorite bank. I started paying off the credit the very next day.

Tinkoff Bank charges interest on the remaining debt, but you pay interest first. This is a standard situation.

Simply put, in the beginning, about 8,000 rubles out of the 8,250 rubles payment go towards interest (since the debt is large), and 250 rubles go towards paying off the debt. Towards the end, when the debt is small, the 8,250 rubles payment might be split as 8,000 rubles towards paying off the debt and 250 rubles towards interest.

I was able to pay off the credit quickly, which was a huge relief. The original amount of 477,000 rubles quickly dropped to around 240,000 rubles.

HOW TO PAY OFF YOUR CREDIT EARLY?

There are two main options for paying off your credit early: paying off the term or reducing your payments. In the Tinkoff app, it's super easy to choose your preferred method. The bank shows you how your credit will change based on your choice.

I've never seen anything like this before.

I've chosen to reduce my payments. As a result, I've saved around 200,000 rubles on interest. I'm doing this because it's more beneficial for me now, especially since the credit isn't a burden.

If you're barely scraping by and paying off a large credit with a high interest rate, I recommend reducing your payments. You won't save a huge amount, but it will give you some breathing room in case your income drops due to overpayments.

I've got 12 payments left until May 2025, but I'm planning to pay off the credit by summer.

With each payment, a portion of the interest is also paid off.

PROBLEMS WITH TINKOFF CREDIT

Interest rate. I've mentioned this before, but it's worth reiterating.

Major Drawback: Technical Issues. I once encountered a technical glitch that prevented me from paying off my credit early. The app would just crash with an error message. After some back-and-forth with customer support and a few attempts to restart the app, they eventually fixed the issue.

I still recommend Tinkoff's cash loan, but with caution.

Thanks for reading!