However, the terms of the account may provide for the placement of the owner's own funds on it. In this case, the card combines the functions of a credit and debit card. For example, the owner can deposit his own funds to it to receive cashback for purchases, but not borrow money from the bank and not pay interest. The main thing is that this is provided for in the terms of the agreement.
Let us also note other significant criteria by which credit and debit cards are distinguished – terms of service and rules of use. Each issuer sets them independently, limited only by the requirements of laws and regulations, as well as recommendations of the Central Bank of the Russian Federation. But if we compare the average values, we can identify approximate differences:
Interest – when the grace period is exceeded, it is charged to credit card holders, while payments from debit cards remain free.
Cash withdrawal fees - credit card holders often pay these fees even when using the issuing bank's self-service terminals.
The need to make a mandatory minimum payment if you have a credit card debt.
There are many exceptions. Even a credit card can be free for denmark mobile database its owner. It all depends on the specific product. For example, owners of the "DA!" credit card from Sinara Bank can not pay for service, make free transfers via the SBP up to 100,000 ₽/month, use a grace period for withdrawals and transfers, and also receive cashback up to 15% in favorite categories.
Who can apply and what documents are required
A debit card is a payment instrument that covers the widest target audience. Even children can use it. For this purpose, banks issue special cards aimed at the youngest clients. As a rule, they are linked to the account of a parent or guardian. But after the child reaches 14 years of age, the bank can enter into an agreement with him and issue his own debit card. The only document usually required is a passport.
To apply for a credit card, you will need a little more time. Firstly, its owner must be of legal age – he/she cannot be younger than 18 years old. Secondly, the bank needs guarantees of the client’s solvency to approve a limit. Therefore, it is much easier to get a card with a small limit than a loan for a large amount. A passport and SNILS are usually enough for application.