SberCard credit card named most advantageous in Russia by Frank RG
SberCard has been named the most advantageous credit card among all cards with extended grace periods in Russia, says a Frank RG study triggered by the launch of the new product by Sberbank.
According to the experts, Sber has the best terms for its credit card holders among other similar cards, offering up to a 120-day grace period that works like this: “spend for one month – pay back for three months”. Card service is free.
Compiling their ranking, Frank RG considered the following credit card parameters: annual service fees, grace period, loyalty programs, rates, borrowing limit, cash withdrawals, repayment schedule, innovative solutions. Further information about the methodology and results is available here.
We marketed a new flagship product – the credit SberCard considering all the most popular wishes of our clients – in late August. The card has a new option, a grace period of 120 days that works in the clearest and most convenient way for a user. You can buy for a whole month and then have three more months to repay the interest-free debt. The rate is unprecedentedly low for all transactions in the Health category and online purchases on SberMegaMarket, standing at 9.8%. All other transactions will be subject to a 17.9% rate, and the borrowing limit is RUB 1 mn. You can have the card issued online in two minutes, and this will not require any service payments or SMS notifications. All these features make SberCard an extremely competitive product, and we highly value its recognition by Frank RG.
First Deputy Chairman of the Executive Board, Sberbank
One of our missions is to give guidance on how businesses can create the best products for their customers. Sberbank approached us to asses SberCard, a new credit card, and we hereby confirm that the team of the largest bank in the country has managed to offer clients the most advantageous credit product in the segment of cards with a long grace period.
CEO, Frank RGFurther information about the new credit SberCard on the bank’s website.