When we take out a loan, we pay the interest on the entire approved amount, while with credit cards, interest is calculated only on the funds that we have used and there is no commission on early debt repayment. Credit cards don’t have to be more expensive, it’s just necessary to know how to use them properly.

Credit cards allow you to fulfil your desires or to cover any unexpected expenses. Your mobile phone stops working and you don’t have enough to purchase a new phone. If you have a credit card in this or similar situations, you can make this unplanned investment without any consequences. Your obligations and those you are in contact with don’t suffer any loss. Or imagine your entire friend group has planned a trip to go white water rafting, but you don’t have the funds at your disposal at this particular moment. This isn’t such a huge expense that you would deny yourself these unforgettable moments. If you have a credit card, you’re probably going to think to yourself “this is the moment to use it!” The best way to look at a credit card is this: “I should have one, just in case...you never know.”

Not anymore. A credit card is just one click away now. And the documentation is within reach (link). The card is valid for three years, and we’ll reissue you a new card easily, online.

This means that the funds you spent by making charges on your card and then repaid according to monthly calculations can be then used again and again for as long as your card is valid. The benefit of this form of payment is that you choose the repayment amount and when to pay off your debt, excluding the minimum payment amount (5% of the remaining debt) which must be paid each month. You can even choose to pay the entire amount of the debt, depending on your desires and plans, and the settled amount less interest can be reused again.

There are two ways to avoid paying interest on the funds spent: • The first is the charge payment method which allows you to use your card throughout the month, and if you settle the debt in full before the end of the month, interest is not calculated. • The second is the instalment payment method applied to certain cards, where the amount of the transaction can be split into 3, 6, 9 and 12 equal monthly instalments. If payment is made regularly, there is no interest charge. If you choose this option, you pay a fee with the first monthly instalment only.

The limit is determined based on your creditworthiness. Creditworthiness is calculated based on your monthly earnings and existing debt which is recorded in your Credit Bureau Report.

Of course, AIK Banka has a solution for all our clients. If you are not earning a monthly income (salary, pension) you can apply for a credit card by making a dedicated EUR deposit with the bank. The advantage of this option is that the interest rate on a dedicated deposit is equal to the interest rate on a standard Term Deposit. By providing a bill of change, the limit per credit card can be as high as 100% of your deposit.

AIK Banka has introduced the 3D Secure System for added protection when making online purchases using your Mastercard. When paying at online points of sale displaying the MasterCard SecureCode, the client has the option to confirm each transaction using a one-time password (OTP) that they receive by SMS to their mobile phone number already registered with the Card Alert-SMS Service (executed transaction notification). Consult with your bank Advisor to make sure that the bank has your current mobile phone number on file.