Ksenia Artemyeva, Operations Director of the Fast River fintech platform, told the agency NEWS.ru about five ways to get the maximum benefit from using bank cards.
According to her, they will help save money and even earn some money. And it’s not just about cashback, although the analyst puts it in the first place.
How to use the card with maximum benefit? The first is cashbacks and loyalty programs. All major banks have them. These include cashbacks for purchases in certain categories, miles for purchases of air tickets or discounts for purchases in partner stores. Usually the amount of cashback ranges from 1% to 10% depending on the category of spending and is paid once a month either in rubles or bonus points that can be paid in partner stores”, the expert said.
The second way is to receive interest on the balance in a bank account. You can even not open a savings account and get 2-3% per annum. You can order a card with interest on the account balance in every major bank and transfer money to it.
The third way is to use an overdraft, that is, a small limit by which you can use the bank’s money if yours are over. Moreover, if you return the money without violating the terms of the overdraft, then you will not have to pay interest (significantly lower than on a credit card).
Artemyeva also advises using credit cards, paying off debts before the expiration of the interest-free period.
“If you have a regular source of income, you can earn money with a credit card. Transfer wages to a profitable deposit and spend money only from a credit card. Pay off the debt before the expiration of the interest-free period – and now your salary, instead of being spent, earned a small percentage on top, ” – explained the specialist.
The last way is to reduce or cancel the cost of servicing the card. As a rule, banks reset these payments to payroll and pension clients, as well as to those who fulfill the required conditions for turnover or a minimum balance.
“Transfer your salary to the bank whose card you use or whose card you support the minimum balance requirement”, Artemieva advises.
Recall that on February 24, 2022, the day the special operation began in Ukraine, Russian citizens and domestic companies withdrew 111.3 billion rubles from bank accounts. This amount was a record for two years.
The Russians feared that the money would be blocked in their accounts. Subsequently, this amount grew, and citizens several times during the year began to actively withdraw money. In such cases, experts advise not to panic, assuring that banks and the state will always have enough money to pay the funds.