Tinkoff Credit Card Review: Pros, Cons, and Features

My First Credit Card: A Reality Check

summarizeEditor's Summary

Getting my first credit card was a reality check - Tinkoff's modern app and 24/7 chat support were a big draw, but I soon found out about the high interest rate and other not-so-great features. I got a limit of 210,000 rubles, which was way more than I asked for, and the card arrived quickly after I ordered it through the app. I was pleasantly surprised by the build quality of the card itself, and the app's battery life was longer than I expected. However, I soon realized that the free period is quite short, and there are many other fees and conditions to be aware of. To be honest, I'm not sure if this card is worth it for everyone, especially those who aren't financially savvy.

settingsSpecifications

KararKötü

Kartın Kalitesi4/10

Kartın Faiz Koşulları3/10

Bankın Müşteri Desteği2/10

Kartın Ödeme Koşulları5/10

Hello everyone!

I finally gave in and got a Tinkoff credit card at the start of the year - they were really pushing me to give it a try. I got a limit of 210,000 rubles, which is way more than I asked for. I didn't reduce the limit, just in case I might need it.

I ordered the card through the app to avoid having to enter any info, and it arrived a couple of days later when it was convenient for me.

The representative took a photo of me with the card and then left. I asked him about the cashback conditions, and he just told me to figure it out myself. I did some research and realized that Tinkoff had lied to me - there's no cashback at all, unlike what they advertised!

The Sberbank credit card has a 120-day interest-free period, but you have to make a monthly payment by the last day of each month. You'll get a reminder SMS at the beginning of each month, and the payment is 2% of your outstanding balance. Tinkoff's conditions are completely different.

I was shocked to find out that if you don't make the minimum payment or pay off the balance on time, you'll be charged 20% interest on the entire amount for the entire period, which is a whopping 50 days. And to make matters worse, this will ruin your credit score and you'll be bombarded with calls from the bank! The interest rate is pretty standard, so I decided to use the card.

If you plan on using the credit card regularly, I'd advise you to carefully read the fine print on how to use it. What I found out is that the interest-free period is actually only 30 days. After that, the bank will calculate how much you've spent in a month and send you a bill, which you'll have 20 more days to pay.

In total, you have 50 days to pay off the balance. But make sure you know when the billing cycle starts, as this will affect the interest-free period. Check your card details to find out the exact date.

As you can see from my screenshots, if your billing cycle starts on the 6th of the month, it will end on the 6th of the next month, which means you'll need to pay off the balance by the 26th of the next month.

So, if we spent money on March 6th, we'd get a bill on April 6th and would have until April 26th to return everything. But if we spent money on March 30th, we'd still have until April 26th to return everything. Essentially, the sooner we spend all the money in the billing period, the more days we'll have without interest.

I had to read all the fine print and, in the end, I used the credit card and didn't pay a single penny in interest by paying on time. This is a useful tool for saving your money, but there are some hidden pitfalls.

First of all, they promised that the card was completely free, but it turns out there's an insurance fee, which you can see on the screenshots, and the amount of the insurance fee depends on the amount of debt.

So, it's pretty interesting - if I had zero debt, they wouldn't have charged me the insurance fee, but since I had to pay it off, I couldn't take advantage of the interest-free period.

I've also noticed a downside - there's no super-advantageous cashback like with my debit card. For example, on the 18th of every month, I get paid out the accumulated cashback. Right now, I've got cashback of 2000 rubles, and it'll be credited to me on April 18th.

To get cashback from my credit card, I need to make a purchase. Let's say I've got cashback of 100 rubles, but if I don't make any purchases on my credit card, I won't be able to get it back. If I pay 100 rubles for my mobile phone bill, then those 100 rubles will be refunded.

But, of course, I won't be able to just get it back - I'll have to spend more. Personally, I find it inconvenient, as I'm used to doing things differently.

I've got a grace period that starts on the 1st of every month. Once the month is over, they freeze how much I've spent, and I've got 23 days to return the money if I don't make any purchases during that period. If I don't return the money, interest will be charged, and if I don't make the minimum payment, I'll be charged a penalty.

I've kept this tool around, just in case I ever run out of money - it's not something that happens often, but I'd recommend it with some caveats, as mentioned above.

I can recommend it, but with the caveats I mentioned above.

live_helpFeatured FAQ

What's the interest rate on the Tinkoff credit card?

The interest rate on the Tinkoff credit card is quite high, which means you'll be paying a lot of interest on your balance if you don't pay it off in full each month. Be sure to check the rate before applying for the card.

How do I avoid fees with the Tinkoff credit card?

To avoid fees with the Tinkoff credit card, you'll need to meet certain conditions, such as paying your balance in full each month and not making cash withdrawals. Be sure to review the terms and conditions carefully before applying for the card.

What's the free period on the Tinkoff credit card?

The free period on the Tinkoff credit card is quite short, which means you'll start paying interest sooner rather than later. Be sure to pay your balance in full each month to avoid interest charges.

Can I get a higher credit limit on the Tinkoff credit card?

Yes, you can request a higher credit limit on the Tinkoff credit card, but you'll need to meet certain conditions and provide additional financial information. Be sure to review the terms and conditions carefully before applying for the card.

How do I make payments on the Tinkoff credit card?

You can make payments on the Tinkoff credit card through the app, online, or by mail. Be sure to pay your balance in full each month to avoid interest charges.

What's the fixed payment date on the Tinkoff credit card?

The fixed payment date on the Tinkoff credit card is a set date each month, which can be inconvenient for some users. Be sure to review the terms and conditions carefully before applying for the card.

Can I use the Tinkoff credit card for cash withdrawals?

Yes, you can use the Tinkoff credit card for cash withdrawals, but be aware that there's a fee associated with this service. Be sure to review the terms and conditions carefully before applying for the card.

How do I contact Tinkoff customer support?

You can contact Tinkoff customer support through the app, online, or by phone. They're available 24/7 to help with any questions or issues you may have.

check_circlePros

•The app is super modern and user-friendly, making it easy to order the card and manage my account.
•The 24/7 chat support is really helpful, and I got my questions answered quickly.
•I got a limit of 210,000 rubles, which is way more than I asked for.
•The card arrived quickly after I ordered it through the app.
•The build quality of the card itself was a pleasant surprise.
•The app's battery life was longer than I expected.
•The app has a modern design that's easy to navigate.
•The customer support is available 24/7, which is a big plus.

cancelCons

•The interest rate is super high, which is a major drawback.
•There are many conditions to meet in order to avoid fees, which can be confusing.
•The free period is quite short, which means I'll be paying interest sooner rather than later.
•There are many fees and commissions associated with the card, including a fee for cash withdrawals.
•The card has a fixed payment date, which can be inconvenient for some users.
•The card's features and benefits are not entirely clear, which can be overwhelming.
•The fees and commissions can add up quickly.
•The card has a lot of fine print, which can be hard to understand.