Is VTB's Card of Opportunities a good choice for someone with bad credit?

Honestly, I wouldn't recommend it - the interest rates can be pretty steep if you're not careful, and it might be better to look into other options that are more geared towards people with bad credit.

Can I use VTB's Card of Opportunities internationally?

Yes, you can use the card internationally, but be aware that you'll likely be charged foreign transaction fees - it's something to consider if you travel a lot.

How do I avoid interest rates on VTB's Card of Opportunities?

The key is to pay off your balance in full each month - it's not always easy, but it's worth it to avoid those sneaky interest rates.

What kind of rewards does VTB's Card of Opportunities offer?

The rewards are pretty standard - you'll get a certain number of points for every dollar you spend, and you can redeem them for cash back, gift cards, or other rewards.

Can I return items I've purchased with VTB's Card of Opportunities?

Yes, you can return items, but be aware that there might be some restrictions or fees involved - it's always a good idea to check the return policy before making a purchase.

How do I contact VTB's customer support?

You can contact them through their website, mobile app, or by calling their customer service number - they're usually pretty quick to respond and help you out.

Can I use VTB's Card of Opportunities for business purposes?

Yes, you can use the card for business purposes, but be aware that you might need to meet certain requirements or have a business account with VTB - it's always a good idea to check with them before making a purchase.

What kind of payment options does VTB's Card of Opportunities offer?

You can pay your balance in full, make a minimum payment, or set up automatic payments - it's always a good idea to check your account regularly to make sure you're on top of your payments.

VTB Card of Opportunities Review: Sneaky Interest Rates to Watch Out For

Hello there!

I've been a VTB bank client for over a year now, and I was super stoked to get my hands on their new credit card, Card of Opportunities from VTB. This card is really interesting and competitive on the market, but it's super easy to get caught up in the interest rates if you don't know the fine print.

I've been using this card for over a year now, and I want to share all the nuances of this product that aren't officially mentioned.

Let's get straight to the point - if you're thinking of getting this card, now's the time to do it. VTB bank is offering an unbeatable deal until the end of the year. I checked out their website and was psyched for the new cardholders.

Card of Opportunities VTB reviewsThe 200-day zero-interest period is a total game-changer! I've never seen anything like that before.

But let's dive into the details.

✔️ VISUAL

The card looks amazing - the design is sleek and premium.

Card of Opportunities VTB how to withdraw cashIt's valid for three years, which is a plus in my book. One year just doesn't feel long enough - you'd need to renew it, but that's not a hassle and doesn't affect the overall user experience.

On the front, it's got the usual stuff: card number, name, and expiration date. The card is valid until the last day of the month it expires.

On the back, there's a hologram and another code. (The last three digits are usually required for online purchases)

✔️ HOW TO GET THE CARD OF OPPORTUNITIES?

At first glance, it all seems pretty straightforward – like they're handing out cards to anyone who asks, except maybe for the homeless.

But don't be fooled, things aren't as rosy as they seem.

On the bank's website, you can find more information about this. There's a list of required documents, and you can submit your application.

If you're already a VTB bank client, they might offer you the card themselves, and you won't need to collect any documents – they'll have all your info on file.

As for getting the card, I'd say it's not super easy, especially if you're an individual entrepreneur – the bank stopped issuing credit cards to self-employed folks.

However, there's a small catch: if you have a monthly income, even if it's tiny, and you can prove it with a 2-NDFL certificate, you might be in luck.

✔️ CREDIT CARD HOW TO USE IT AND AVOID INTEREST

I got my card on terms that I'll explain below. And now, they're offering it on even better conditions.

The first interest-free period is a whopping 200 days. But that's just once – after that, it's 110 days.

Be careful during the transition period.

credit card vtb

I saw that cashback is offering 10% on any purchases for a month after you get the card. Hopefully, there's no fine print, but always read the small text and watch out for the catch.

You'll only get back up to 2,000 rubles, regardless of how much you spend in the first month.

I'm fully responsible for the information below.

Credit Limit

So, what's a credit limit? It's the amount you can't exceed with your card.

Now, let's talk about the interest rates. They're not exactly small, so you'll want to make sure you're paying off your debts on time.

The interest rate for purchases made with the card is 14.6%.

You can reduce this by 3 percentage points if you make purchases with the card every month for at least 5,000 rubles. This is easy to do, and your interest rate will be 11.6%.

But you'll only be charged interest if you miss a payment or make a minimum payment.

Grace period / when to spend, and when to pay off debt

The grace period, or the period of time without interest on your credit limit, is 110 days.

You can use the card every day without breaking the grace period.

The key thing to remember is that the grace period starts on the first day of the month, not on the first purchase you make.

For example: if your first purchase was on December 25, the 110-day grace period will start on January 1, not December 25. This isn't ideal. It's better to start using the card at the beginning of the month.

So, how do you calculate when to pay off your debt? It's simple. If you started using the card in December, you'll need to pay off your debt by March 20. The purchases you make from March 21 onwards won't be part of the current debt, but will be included in the next grace period.

Minimum payment

Within each grace period, you'll need to pay off 3% of your debt by the 20th of each month. You can check this information in your personal account or calculate it yourself.

Now we're getting to the interesting stuff. I've highlighted this point in red because it's crucial.

For cash withdrawals up to 50,000 rubles, there's no commission, which is great – most other credit cards charge around 6% for cash withdrawals.

No commission, but there's still a catch!

The interest rate is 34.9% for cash withdrawals, but if you spend more than 5,000 rubles on your card in a single transaction, the interest rate drops to 31.9%.

Interest accrues every day! Let me explain how it works.

For example, let's say you withdrew 50,000 rubles in cash and were also using your card for everyday expenses.

As long as you made the minimum payment on time each month, it took you 110 days to pay off the entire balance – and you ended up paying over 4,000 rubles in interest. It's no wonder you'd feel ripped off! Unfortunately, there's no way to dispute it with the bank.

Even if you carefully reviewed the terms and conditions and knew about the interest, there's another gotcha that's not mentioned anywhere. I only found out about it by calling the bank's customer support hotline.

The catch: when you top up your card with cash, the bank will first settle your outstanding card transactions and then deduct the cash withdrawal. In other words, to stop the snowballing interest and pay off the cash withdrawal, you need to clear your entire card balance to zero. This is a major inconvenience.

There's no information on the bank's website explaining this.

✔️ ADDITIONAL OPTIONS

You can link the card to your phone, which is convenient for many people. Plus, you don't have to insert it into payment terminals, you can simply attach it. I mean, this isn't exactly groundbreaking. The card accepts any international payment systems and you can use it to pay in any country, it's just a VISA card. For example, the MIR card isn't accepted for payment in Turkey.

Cash Back

Cash Back is a popular feature, and many people love it - why not? This option isn't automatically included in the card, but you can add it for 590 rubles per year if you want.

Remember that cards with built-in cash withdrawals don't work with cash back services like LetyShops.

So, do the math yourself - if you spend a lot on the card, it's worth it. Even if you spend 5,000 rubles a month, it's a small plus for the year. The only catch is that cash back is no longer automatically credited to the card, you need to log in to VTB-Bonus and transfer it manually.

Cash back only applies to purchases, not utility bills.

I found a promotional ad on the website with huge cash back percentages for purchases from certain partner websites. If I'm not mistaken, you need to go to the VTB website or app directly, make a purchase using the VTB card, and then get your cash back. But I haven't tried it myself, so I'm not responsible for the accuracy of this information.

credit card which is better

The standard cash back rate for purchases is 1.5%.

✔️ THE BOTTOM LINE

The card looks amazing at first glance - a 110-day grace period and no fees for maintenance.

But in reality, if you don't withdraw cash, the card is actually good, as long as you remember to make the minimum payments and pay off your balance on time.

Or you can use it only for cash withdrawals, but for a very short period, otherwise it's not worth it.

You don't need to get bogged down in all the percentages. It's easy to get lost in them, but the guide does a great job of explaining the card in detail, so hopefully that's clear.