Russians have been warned that an attempt to make money on a credit card may end in losses. Nikolay Kuznetsov, associate professor at the Finance and Credit Department of GUU, tells how to avoid this.
A scheme where a person puts income on the card, and spends the funds from the credit card, then reimbursing the right amount. As a result, receives interest as direct income. But the expert warned of the pitfalls.
Kuznetsov advised not to withdraw cash from the credit card, because banks charge a large percentage for this. In addition, the calculation of the grace period is confusing and you can make a mistake and overdue a payment. In this case, you will have to pay interest for the entire income from the deposit received earlier, said Nikolai Kuznetsov to the publication “Prime”.
Earlier it was written that compatriots owe a record amount of credit cards - Br4.8 trillion.
Also explained how to use credit cards to avoid debts.