OTP credit card: reviews, terms of use, is it worth opening

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

Credit cards are in demand among Russians, as they allow you to pay with the issuer's funds without interest within the grace period. A bank with Hungarian roots OTP is one of the leaders in the Russian Federation in issuing credit cards. Reviews of the OTP credit card will allow you to evaluate the prospect of using the product.

Types of OTP credit cards

In 2019, the bank offers customers 3 options for credit cards:

1. "Big cashback".
2. "Lightning".
3. "Clear map".

Customers can receive any of the credit cards on the same day. The conditions of OTP Bank credit cards differ depending on the type of product. The borrower is allowed to have no more than 1 OTP credit card.

Review of a card with a large cashback

The product with the most reviews (from OTP credit cards) on the popular Banki.ru service is the Big Cashback card. Conditions of "OTP Bank" credit card with cashback for purchases:

• maximum limit - 1 million rubles;
• up to 7% cashback on purchases in select categories;
• 1% cashback onall other purchases on the OTP card;
• commission-free service;
• free edition;
• possibility to get a credit card on the day of application.

The amount of cashback for purchases is limited: no more than 36,000 rubles per year. The product belongs to the premium category. The cardholder can evaluate the possibilities of the customer support program from Mastercard World.

The bank charges interest on the balance: if the client has more than 10,000 rubles, it is possible to receive up to 4% per annum. It is allowed to make debit transactions on the OTP Bank credit card in the amount of up to 100,000 rubles. per day and 700,000 rubles. per month.

The interest rate is not the lowest in the country - from 24.9% per annum. But owners have up to 55 days of a grace period during which they can spend OTP Bank funds and not pay interest for use.

OTP credit card reviews with cashback

Most of the negative reviews about OTP loan products are related to the "Big cashback" card. But the negative of customers is not connected with the conditions, but with the possibility of obtaining a credit card.

The greatest number of complaints is related to the following point: when sending an application for a credit card "OTP Bank" customers were able to fill in all the data. After processing the questionnaire, the borrowers received an SMS with a preliminary approval and an available limit on the card. But at the office or point of issue of the card, managers refused to receive a credit card for various reasons, for example, due to insufficientsolvency or unreliability.

Under the conditions, the reviews about the OTP credit card are positive: the bank does not deceive with the accrual of cashback for purchases and allows owners to choose the category with maximum bonuses on their own. Not all users like the work of Internet banking, but it does not spoil the impression of the selected credit card.

According to reviews, an OTP credit card with a cashback can be issued if you have only a Russian passport. Credit cards are issued to citizens with permanent registration and stable income.

Cashback card redemption: features

There are more than 400,000 outlets in Russia where OTP customers can redeem their "Big cashback" credit card with a minimum commission. OTP partners are:

• "Post of Russia";
• "Connected";
• "Megaphone";
• Kari;
• "Eleksnet";
• "Beeline";
• "Know-How";
• "Unistream";
• "Agent.ru";
• Euroset;
• Rostelecom;
• MTS;
• Rapida.

Besides the indicated points, customers can make payments online, on the OTP website, through OTP-direct or Yandex. Money or QIWI online wallets.

The term for crediting funds can reach 5 days. Before sending, you should clarify the commission with the intermediary in advance.

OTP's "Lightning Fast" Credit Card Benefits

Credit product of MasterCard payment systemin demand by customers due to the minimum requirements for obtaining: age from 21 years old, citizenship of the Russian Federation, residence permit, permanent income. At the same time, the OTP does not require the submission of certificates: "Lightning" can only be obtained with a passport.

Courier delivery of "Lightning" is not possible. The client has the opportunity to issue an OTP Bank credit card only in the region where the issuer has an office. Temporary registration is allowed.

Grace period credit card OTP "Lightning" is a maximum of 55 days. Additional Benefits:

1. Free online bank "OTP-Direct". Using the service, cardholders can pay their debts without commission at any time of the day. A mobile version of the app is available on the App Store and Google Play.
2. Accrual up to 6.5% per annum on the credit card balance. To calculate interest, it is recommended to leave on the balance sheet from 5,000 to 200,000 rubles. Interest is charged only for depositing own funds in excess of the Lightning credit limit.
3. Cashback up to 3% at partners and 1.5% at other outlets. The amount of cashback is fixed. A maximum of 2,000 rubles per month and 24,000 - during the year is available to the client. Bonuses are credited to a separate account. The minimum purchase amount must exceed 100 rubles.
4. Recharge online without commission. To deposit cash to Lightning, it is recommended to use the mobile or desktop version of OTP-Direct.
5. Cash withdrawal up to 45,000 rubles per day and 250,000 rubles monthly.

Additional bonus: when buying from a card for more than 2,000 rubles, the bank returns 300 rubles to the account within 30 days from the date of issue of the card.

Terms of credit card "Lightning" from OTP Bank

The credit limit depends on the level of solvency of the client. The maximum amount of funds that the owner can count on is 300,000 rubles.

The interest rate is not the lowest in the Russian Federation: the "Lightning" credit card is issued with a limit of 26.9% per annum. The bank may charge up to 49.9% per annum for using the credit limit. The interest rate is set by OTP Bank individually for each client.

Additional expenses:

• for SMS-banking - 79 rubles per month;
• statement in self-service devices - 59 rubles;
• certificate of account status by mail - 59 rubles.

Mandatory payment is 6% of the balance of the principal debt, but not less than 600 rubles per month. It is not recommended to allow delays: the pen alty for missing the mandatory contribution is 20% of the debt.

Reviews about credit card "Lightning"

Information on the official website or in OTP offices does not allow to evaluate the real conditions of the card in the way that user reviews allow. Potential borrowers are interested in whether it is worth opening an OTP "Lightning" credit card.

There are practically no negative descriptions of the product on the Web, since the conditions of the credit card correspond to the information on the site. The only thing,what does not suit customers is a high interest rate (up to 49.9% per year). But OTP does not hide the terms of the loan, and the interest is set depending on the reliability of the client. Therefore, a credit card can be attributed to a banking product, after which the borrower will not regret his choice.

Regular borrowers with a good credit history and a stable income of 30,000 per month can count on a minimum interest rate - from 26.9% per annum. But even new customers can become the owner of "Lightning" on favorable terms. The final decision on the application is made by the bank within 48 hours after the paperwork is completed.

Credit card payment terms: user reviews

Repay card "Lightning" owners can in several ways: online, at bank offices or through partners, terminals, money transfer, SMS. The most favorable conditions - using the services of OTP Bank.

In reviews of the OTP credit card, the owners indicate the features of using "OTP-direct". The application does not always work quickly, freezes periodically, which can cause delays in payments. Therefore, it is recommended to deposit the minimum amount 2-3 days before the due date. An alternative to payments through "OTP-direct" - online payments on the official website. The fee depends on the payment method.

"Clear Card": credit product review

The new OTP credit card has a unique offer: the client can choose the conditionusing a credit card - to withdraw cash or pay at retail outlets. Depending on the option chosen, the interest rate for withdrawing the credit limit at ATMs or paying with a card will differ.

Product Benefits "Clear Map":

• issuance and maintenance without commission;
• choose the conditions for using a credit card - for cash withdrawal or payment;
• free SMS-informing on all transactions;
• bonuses up to 30% from the MasterCard payment system.

For cash withdrawals from an OTP credit card, the interest rate per year is 39.9%, for payments for purchases (including online stores) - 27.5%.

"OTP Bank" notifies the client about the status of the account once a month free of charge and provides the opportunity to request a report at the network's ATMs. No commission is charged from the card, as well as for the transfer of funds when replenishing a credit card through the official website or the OTP-Direct application.

Customer feedback on the product

The terms of the "Clear Card" are attractive, and registration is available to all citizens of the Russian Federation from 21 years old with a good credit history. But the limit does not always suit customers. On the Web, users of the Clear Card complained about the undeservedly low limit set by the bank.

Not everyone who wrote a negative review was able to prove their high income, so the opinion of such users about the bank and credit card is subjective.

From positive points aboutcredit card customers noted:

• corresponds to the credit rate stated in the agreement. "OTP Bank" does not overstate the terms of credit and does not charge customers more than it should be under the contract;
• quick clearance. There are no negative reviews on the Web about how to get an OTP credit card. All conditions are simple and spelled out on the bank's website, the rules are observed by the company's managers. You can get a "Clear Card" on the day of submission of documents. Application can be submitted online on the official website of OTP Bank;
• convenient calculation of the grace period, which the owner can check in the "OTP-direct", ATM or with the help of support staff.

The product is inferior in terms of benefits to cashback cards, so it is recommended to open a "Clear" credit card for those who prefer to withdraw cash. You should first choose a tariff with a minimum interest for regular withdrawal of the credit limit.

How to make payments? Redemption of the Clear Card

The owner of the Clear Card credit card can deposit the used credit funds in any available way: at the bank and through OTP terminals, online, through the OTP-direct application, by money transfer using other banks or partners. Commission is not charged only when paying through OTP.

The term for crediting money is from 1 minute to 5 days. The fastest way to receive money on a credit card is when sending it from the bank's website. It is allowed to pay online with the card of anotherbank.

Credit card activation: conditions, features

OTP credit cards are not activated automatically. This condition allows you to protect funds on a credit card from intruders. Card activation is possible by phone.

How to activate an OTP bank credit card:

• call support service (phone number can be found on the website);
• introduce yourself, name your passport details, loan agreement number and card information;
• create and set a PIN code;
• confirm operation.

Without setting a PIN-code, the client will not be able to make transactions in excess of 1000 rubles and withdraw cash. Purchases from 1 ruble to 1000 are possible without entering a PIN code - using contactless technology.

Credit card activation occurs within 24 hours from the moment you contact the bank support service. The call is free, the line is open around the clock.

Setting a PIN code for OTP cards

If the client has already activated a credit card, but has not set a PIN code on it, he can do it using a toll-free number. When setting the code, you should name all the credit card details, full name. and information from the passport of the Russian Federation.

The code will be set after checking and confirming the information. If the client has forgotten the PIN, he should also call the support service and follow the instructions of the manager.

How to close a credit card?

If the conditions of the product did not suit the owner, it is recommended to close the card account. There are 2 options for closing an OTP credit card:

1. On a personal visit to the office of the organization.
2. When contactingcustomer support.

To visit the bank, the client must have a passport and a card. The OTP manager will check the credit card for the presence of debt and, if it is absent, will issue an application for closing the account. The cardholder must check and sign the documents, keeping a copy of the certificate with him.

If there are no financial claims, the card account will be closed after 45 days from the date of registration of documents.

When calling the support service, the principle of the client's action is the same, only identification is carried out by phone. Copies of documents can be sent to the postal address of the owner or his e-mail. If there is a debt, the closing of an OTP credit card is carried out only at the bank office.