Skin care 

How to dispute a credit card loan? The contract was declared not concluded

I haven’t yet told you about one unpleasant story that I got into through my own stupidity.

Once I urgently needed to buy a snow blower, but I didn’t have enough money - literally 10-15 thousand. I decided to apply for a consumer loan from OTP Bank, within half an hour I was approved and the missing amount was credited by the bank for me. I paid for the loan quickly, and a month later a credit card arrived in the mail. Not just any card, but MasterCard Gold - damn, it’s nice to feel like you’re among the “chosen ones”! Apparently, this is what it was designed for - initially I didn’t even think about using a credit card, then I thought “oh well, there are 55 interest-free days - I’ll have time to pay!” As a result, I used the card, but did not have time to pay - interest accrued.

I would like to say a few words about these same percentages - the fact is that when we receive a credit card by mail, we very often do not receive it ourselves loan agreement with the bank. We can get " Rules for using a credit card“, a memo about basic operations, and so on, but we often don’t have the loan agreement in hand.

As a result, we know perfectly well how to start using a credit card, but we have no idea how to get off this “needle”. That's why we often end up with money! Concluding a contract is easy It’s difficult to terminate a loan agreement!

How to terminate a loan agreement with a bank

So, if you are paying off a loan, then you need to remember three things:

  • repayment using the “minimum payment” is the most expensive and longest way. The minimum payment is chosen in such a way that a significant part of it goes to servicing interest, paying a commission for servicing the card, all sorts of SMS payments, and so on. In this case, the principal debt is repaid very slowly - many pay off even a small amount of 60 thousand in 24-36 months!
  • If you want to repay the loan quickly, you can try to refuse all kinds of commissions - repay not through Rapida (min. commission 50 rubles per payment), but through the bank's cash desk (no commission is charged). Then, when many receive a card, they automatically “subscribe” to services such as “SMS-Direct”. At OTP Bank it costs 59 rubles, it is easy to refuse it - go to the office and write a statement. It seems like a small thing, but in the end it adds up to a decent amount. Also, very often, a bank can be sued through the court for a commission for opening an account or servicing a credit account - all these commissions are recognized by the courts as invalid, so mortgage holders, car loans and “TVs-in-half-an-hour” have a chance to return the money spent (credited to the payment for credit). But this does not apply to credit card owners - if you have paid for a purchase in a store with a card at least once, then you cannot be charged a fee for servicing the card. And although it is small (at OTP Bank 99 rubles per month), in 23 months I have accumulated 2277 rubles - almost the minimum payment!
  • finally, the moment of loan repayment. Here you need to remember about residual interest. That is, the balance of the debt is always paid off in two parts - first we pay off the balance of the debt (the last payment, which clears the debt to zero). If, for example, your payment deadline is the 19th, then we pay the entire last payment by the 19th. And then (after 19, when the money has already been credited to the account), we call the bank and find out how much residual interest has accrued. Usually these are small amounts - in my case, 111 rubles 24 kopecks.

Where does residual interest come from? It's all about the dates: some time passes from the moment of the last payment to the moment it is recorded, during which time interest is still accrued. Then they pop up! It’s a small thing, but it can ruin your life!

Application for termination of a loan agreement

In order to accurately pay off all debts on a credit card, in addition to these two payments, you also need to fill out an Application for Termination of the Credit Agreement - without it, the card is considered valid and commissions for all sorts of SMS directs and card servicing will be charged, and interest will accrue accordingly.

Therefore, simply making all payments and forgetting about the card is a mistake! We have made all payments (the last one in two parts: debt + residual interest), we go to the bank and write a statement. You should keep one copy. If you do not receive it, then it is impossible to prove that you expressed a desire to terminate the contract.

So without this thing (see photo), a credit card will cause you inconvenience! Good luck and live within your means!

Credit card is a means of payment used to perform settlement transactions using funds provided by the card issuer (credit institution), within an agreed limit. The provision of this instrument is accompanied by the signing of a consumer loan with a spending limit; accordingly, there are some legally significant features of the credit card agreement.

Features of a credit card

A credit card is similar to a regular general consumer loan, but the loan is revolving.

A debit card with an overdraft is fundamentally different from a credit card: if there is a shortage of own funds in the account, you can use borrowed funds within the agreed limit. Interest is charged for using an overdraft, and when the card account is replenished, the debt is repaid. A credit card generally does not involve the crediting of the client’s own funds except for the purpose of repaying the loan.

Replenishment of the used credit card limit and repayment of interest on it is carried out both in cash through bank terminals that work with banknotes, and non-cash through transfers from bank or debit card accounts.

Financial side

The borrower cannot be forced to use the services of third-party organizations to repay the debt for an additional fee, however, some operations when using a credit card will be paid:

  • Subscription fee, which lenders sometimes waive in the first year of the agreement;
  • Cash withdrawal (1-20% of the amount);
  • Use of terminals of other organizations;
  • Transfer of funds from or to another bank;
  • Transfer of money to an individual’s account, etc.

It is important to take into account the minimum established commission sizes, when the cost of the service is indicated as a percentage of the amount, but must be no less than a certain fixed amount.

The lender is authorized to reduce the interest rate and the amount of penalties unilaterally. If a change in the terms of the agreement entails a deterioration in the borrower's condition, the issuer is obliged to send written notice to the client.

Grace period

If the agreement states that a grace period (from 30 to 150 days) is applied when repaying the debt, this means that you can save on interest payments if you return the used amount before the end of this period.

To effectively manage debt with this option, you need to know the start date of the reporting period and the duration of the grace period.

Let the reporting date be the 3rd day of the month, and the grace period be 45 days. Then, in order not to accrue interest, the amount used between the 3rd day of the current month and the 2nd day of the next must be returned before the 18th day of the next month. In fact, from 45 to 15 days are allocated for free use of funds, but not all 45 days.

The reporting date is fixed and does not coincide with the date:

  • Receiving a card;
  • Its activation;
  • Performing the first operation.

Typically, the reporting date is the date the card was issued; it must be clarified upon receipt and also compared with the date specified in the contract.

Contents of the credit card agreement

An agreement for issuing a credit card is concluded only on the basis of a client’s application accompanied by a copy of his passport and another document at the request of the lender. The received credit card must be activated through the online service or at the bank’s self-service terminal. Closing a loan account is only possible with a personal application to the issuer.

The card itself is provided only after identification of the borrower (presentation of his passport) at the office of the issuer (its structural division) or at the address specified by the client with special written consent.

If an unnecessary credit card was delivered by mail, it cannot be activated (used). What you received should be returned as quickly as possible by contacting the issuer’s office with a statement of refusal to cooperate, the card itself, and your passport. It is imperative to make sure that the open loan account has been closed, i.e. receive the relevant document.

  • card limit (amount available for use);
  • terms of its validity, grace and reporting periods;
  • currency of the contract;
  • interest rate;
  • the procedure for determining the exchange rate if the limit is set in foreign currency;
  • features of debt repayment - the method of its implementation, frequency, timing of payment and amount of payments;
  • responsibility of the plastic holder;
  • the client’s consent to all the conditions specified in the document;
  • details of the lender (its name, addresses, license number, etc.);
  • ways of communication between the parties.

Assignment of the right of claim

The practice of transferring the right to claim a debt to a third party (collector) is common among creditors. Almost every loan agreement contains an indication that the lender is authorized to assign the right of claim; credit card agreements are no exception.

When assigning the right of claim, the borrower’s consent is not required; it is enough to notify him of this fact in order to indicate new details for repaying the debt.

As a result of the transaction, the collector buys the debt from the creditor. The issuer gets rid of the problem client. The borrower must now repay the debt to the collector.

Securitization

Securitization of credit cards is not an outright assignment of claim. This is rather a financial instrument that allows one to reduce the potential risks of the issuer, rather than obvious ones as in the assignment of claims, and attract additional resources to resume operations, which helps reduce the interest rate on the product.

A simplified securitization scheme is as follows:

  • a bank that has sold a certain number of credit cards issues securities against them;
  • the newly received package is assessed by a specialized company;
  • securities are sold;
  • money from the sale minus the cost of related services goes to the bank, which puts it into circulation (for lending, for the purchase of other securities, etc.);
  • the card holder will pay for the use of borrowed funds to the same bank, the amounts received will be used to cover the lender's obligations on securities.

The peculiarity of securitization of credit cards is that they are unsecured, unlike car loans and mortgages. The high degree of riskiness of such an operation determines its low profitability, and, consequently, profitability.

Results

Each credit institution has its own standard form of credit card agreement. The client, as well as an ordinary employee of the lender, is not authorized to change it. The form is developed by the legal service. It takes into account all possible risks, but it necessarily meets the requirements of the law. In relation to the agreement with the creditor, the client has only the right to choose - to sign the document or refuse the transaction.

Video: Pitfalls of credit cards - read the agreement carefully

A credit card is a method of payment for goods and services, the use of which is characterized by consumer characteristics. Repayment of the loan presupposes the further use of assets, which allows us to talk about the renewability of the limit. To avoid becoming an “eternal debtor”,Sberbank credit card agreementmust be carefully reviewed by the client.

Sberbank credit card agreement: main provisions, conditions

A loan agreement is a written agreement under which a financial institution lends money to an individual or entity under certain conditions. Sometimes the intended purpose determines the type of transaction.

Regulatory regulation of debt relations is enshrined in the provisions of the Civil Code of the Russian Federation.

PJSC Sberbank , like most credit institutions, has established general requirements for the process of issuing and servicing credit cards. Changes in certain conditions may be preceded by:

  1. Tariffing of card services.
  2. The scope of fines for violation of the terms of the contract.
  3. Limit restrictions.
  4. Loan repayment procedure.

Citizens of Russia who have permanent registration can receive a card. The age category starts at 18 years and ends at 70 years.

The credit card provides several ways to use it:

  • payment by bank transfer when purchasing goods and services;
  • cashing with commission.

Depending on the wishes of the banking institution, additional conditions regarding:

  • type of card;
  • currencies;
  • the duration of the agreement;
  • interest rates;
  • grace period.

Contents of the agreement

The structure of the agreement was developed by Sberbank taking into account all the features and nuances. Before signing, the client must pay attention to the following points:

  1. Type of banking product – cards.
  2. Interest rate.
  3. Limit size.
  4. Conditions for applying the grace period.
  5. Personal data and details of the parties.
  6. Card issuance procedure.
  7. Refund, blocking, reissue.
  8. Possibility of connecting auxiliary services.
  9. Closing the account.

Setting up functions such as Sberbank Online, Mobile Bank, ESMS does not require signing a separate transaction. It is enough to activate the application through your personal account by submitting an application.

How to conclude an agreement?

Concluding a deal involves several stages:

  • applying for a credit card;
  • collection of documentation;
  • provision of a package of documents;
  • Bank response:
  • organizing a personal meeting with a potential debtor;
  • studying the information provided;
  • credit history analysis;
  • involvement of specialists (if necessary).
  • decision-making:
  • refusal;
  • signing a loan agreement (discussion of essential conditions for fulfilling obligations).

When preparing documents to receive a credit card, you need to pay attention to some subtleties of the process. We are talking about the use of types of security for obligations such as surety and collateral. In this case, the relevant agreements are initially signed in favor of Sberbank. The exception is a construction transaction.

As practice shows, one type of security is not used.

Standard contract does not always take into account all the interests of the parties. The client must carefully study the terms of the agreement and check for the following points:

  1. Early loan repayment.
  2. The amount of the monthly mandatory payment.
  3. Commission charges.
  4. Involvement of third parties.
  5. Insurance.
  6. Order use of credit bank cards.
  7. Methods of conflict resolution.
  8. Application of penalties.
  9. Situations involving changes in interest rates.
  10. Early loan repayment.

The savings bank offers its borrowers the option of formalizing the relationship by concluding a public offer. The essence is to post the text of the agreement on the official portal in free access. Changes are expected for all copies of the document.

A written agreement confirming the fact of the transaction should not be thrown away before the expiration date of the credit card. In case of unforeseen situations, having the original document will allow you to quickly resolve the difficulties.

The conclusion of the transaction is carried out within the walls of a branch of a financial institution in the presence of the parties. The borrower must provide the following package of documents:

  • passport (with permanent registration in Russia);
  • TIN;
  • other personal identification document;
  • certificate of income level (to determine the loan amount).

The release time for plastic depends on the type of card. Standard credit card blanks are stored in offices and are provided after signing the documentation. Others have to wait up to 14 days.

Sberbank credit card agreement: sample

Sample The loan agreement can be studied on the official website of Sberbank - https://online.sberbank.ru. Additionally, information is provided on the types of cards, current tariffs and features of using banking products.

The structure of the agreement corresponds to the following sections:

  1. Subject of the loan agreement:
    • names of the parties;
    • the amount of the loan obligation;
    • payment terms;
    • loan repayment procedure.
  2. Rights and obligations:
    • sequence of interest calculation;
    • procedure for notification of changes to contract clauses;
    • payment of interest;
    • debt repayment.
  3. Loan collateral:
    • pledge;
    • insurance.
  4. Force majeure (events beyond human control that prevent the fulfillment of contractual obligations):
    • natural disasters;
    • man-made emergencies;
    • war (combat);
    • death of the party.
  5. Responsibility.
  6. Settlement of disputes.
  7. Legal addresses (details of the parties, contact means of communication).

The agreement must not contradict the provisions of current legislation. Protecting the interests of the parties comes first.

Termination

The correct solution is to formally terminate the agreement, which is preceded by the following algorithm of actions:

  • checking card balance:
  • paying off debts;
  • visit to Sberbank;
  • submitting an application to disconnect services;
  • credit card cancellation;
  • payment for the account closure procedure (if necessary).

After this, an employee of the financial institution must liquidate the plastic in the presence of the former owner. A safety net for the client is a bank certificate confirming the fact of termination of the contract and the absence of any monetary obligations.

When issuing credit cards, bank employees talk about the advantages of such a product, but often remain silent about the negative aspects. The cardholder expects to receive benefits and does not expect to encounter additional expenses hidden in the agreement. Banks manage to write down some nuances of the transaction in the document, which negate all the benefits of lending. In order not to overpay, you need to arm yourself with information on this topic. This is what we invite you to do today.

Nuances of the grace period

Borrowers have long been told that before signing a loan agreement, they must carefully read all the clauses and subclauses of the document so as not to miss important details. But which of us reads the entire contract thoroughly? If there are such people, then there are not many of them.

You've probably heard about the benefits of a grace period. Many people believe that all credit cards come with a grace period by default. Alas, this is not always the case. Some banking products for “plastic” do not provide for a grace period at all, and this is mentioned in the contract. In order not to miss this important condition, you must carefully study the agreement before you sign.

Interest-free use of a loan is a benefit of a banking institution. It can be provided to the borrower, but can be canceled at any time. When concluding a credit card loan agreement, you must make sure that the bank currently provides a grace period. In addition, the conditions for granting benefits should be clarified. It is calculated differently in different banks, so there is a high probability that you will plan your expenses incorrectly, which will lead to the imposition of penalties.

The pitfalls associated with the annual rate

Credit card owners are expected to have ongoing expenses - fees for using the loan. Its size is calculated taking into account the annual rate. As a rule, the amount of this rate remains unchanged throughout the entire loan term. However, some banks stipulate in the agreement a condition according to which they can change the annual rate unilaterally. If you signed the document and did not pay attention to this point, then over time you may expect an increase in fees for using borrowed funds.

Article on the topic:


Other expenses

The bank charges the cardholder fines for various violations of contractual terms. Often the borrower does not even know that he has violated anything and continues to make standard payments. The amount of fines accumulates, and additional penalties are accrued, which leads to unpleasant surprises for the borrower.

There are situations when the plastic holder delays the loan payment. Afterwards, he deposits the necessary funds, but does not know what the amount of the accrued fine for late payment is. In this case, you need to contact a credit specialist to get accurate information and pay the debt in full.

Also among the additional expenses it is worth noting the fee for SMS notifications, checking the card balance, and Internet banking. The contract does not always specify the commission for using such services, but its size can be quite significant. It is worth checking out prices from financial advisors in advance to insure yourself against unnecessary expenses. Many people believe, for example, that checking a card balance is free, but then it turns out that for each request a certain amount of money was debited from the card account for using this service.

Try to protect yourself from unnecessary expenses for using a credit card. Read the agreement carefully, clarify the terms for the provision of additional services, and from time to time check the movement of funds on the card account to track hidden costs.

​Credit cards are a relatively easy way to borrow money, but at the same time a fairly easy way to become financially dependent. Applying for a credit card is much easier than a standard loan - this attracts many borrowers for whom other credit banking products are not available. You have to pay for this with increased interest rates, various commissions and insurance payments. Today we will talk about how you can dispute a credit card loan.

Despite the fact that in Russia credit cards are considered by the population, and often by banks, precisely as a type of consumer loan, in essence they are, first of all, a means of payments (settlements), and on the terms of conducting transactions with both credit and with the cardholder's own funds. Many borrowers apply for credit cards only for the purpose of borrowing money, so they are often far from understanding the terms of the agreement and all the features of the financial burden that they undertake to bear.

Main reasons for disputing credit cards

Despite the growth of bad debts on credit cards, banks quite actively continue the policy of their mass distribution, often literally imposing the issuance of a credit card and keeping silent about the disadvantages of this method of lending. As a result, as practice shows, not all cardholders clearly understand the mechanisms for activating the card, the grace period during which interest is not accrued, as well as the procedure for making mandatory payments and, in general, repaying debt. Misunderstanding gives rise to a violation of the terms of the loan agreement, leading to delays, sanctions and accumulation of debt. At the same time, additional expenses are added to the main expenses - insurance, commissions, fines, service fees and mobile services.

The main reasons for disputing a credit card:

  1. Accrual of commissions and other payments that were not reflected in the terms of the agreement.
  2. Failure to use loan funds, but receiving a request from the bank to repay the resulting debt.
  3. Automatic extension of a credit line (reissue of a card) without the client’s consent or ignoring his request to terminate the contract.
  4. Issuing a card using the personal data of a person who did not actually issue or receive it.
  5. Illegal withdrawal of money from a card account.

As a general rule, a credit card agreement is of unlimited duration, that is, it is valid until the parties terminate it. Moreover, the agreement is usually concluded in the form of an accession agreement to the main agreement, and the latter is often not handed over to the borrower. Often it is suggested that you familiarize yourself with it either very quickly, or on the bank’s website, or in some other way that does not allow you to study everything carefully. These points are of fundamental importance, first of all, from the point of view of the need for borrowers to approach the issuance of credit cards very carefully and be sure to thoroughly study the terms of the main agreement, and not just the accession agreement.

How to dispute a credit card?

Since the grounds for disputes vary, as do the reasons for claims, each situation requires specific study and the formation of an action plan.

The universal procedure is as follows:

  1. If you do not have a loan agreement on hand, you must request and obtain it from the bank. In addition, you should request a calculation and a certificate of debt.
  2. The documents received should be analyzed to determine whether you have grounds to challenge the loan and evidence that can be taken from the terms of the contract if they have been violated.
  3. Initially, you need to prepare a claim (application) to the bank, outlining in detail and with reason what exactly you do not agree with and what you require. The procedure for considering claims is regulated by internal banking rules. But in any case, the client, as established by law, must be provided with an official written response within a reasonable time. Consideration of claims takes from several days to a month, sometimes more, depending on the circumstances.
  4. If, as part of your interaction with the bank, the dispute has not been resolved, you have the right to go to court with a similar claim to the bank as in the claim.

When challenging a credit card loan, we may be talking about challenging the agreement, including its individual provisions, as well as illegal actions and decisions of the bank in relation to the borrower, including illegal, in the borrower’s opinion, charges on the card, for example, commissions or penalties. In the case of illegal debits of funds from the card, transactions unauthorized by the card holder, or theft of money, we may also consider contacting the police regarding these facts. You should do the same if the card was issued with the illegal use of your personal data, that is, when you did not actually issue it and did not withdraw funds.



Have questions?

Report a typo

Text that will be sent to our editors:

Send