My Credit Card of Oschadbank: credit limit and grace period

My Credit Card is Oschadbank's credit card with a credit limit for everyday purchases and a grace period when no interest is charged. Let's look at how to get it, how the grace period and minimum payment work and how to use it without overpaying.

What My Credit Card is

It's a credit card with a limit set by the bank. Money spent within the limit must be repaid; if you make it within the grace period — with no interest. You can manage the card in the Oschad 24/7 app.

How to get it

1. Apply in the Oschad 24/7 app or at a branch.
2. The bank assesses a credit limit.
3. After approval the limit becomes available for purchases.
4. Repay what you spent within the grace period to avoid interest.

Screenshot: applying for an Oschadbank credit card

Grace period and minimum payment

The grace period is the time when the bank charges no interest if you repay what you spent on time. Each month you must pay at least the required minimum payment (part of the debt + interest). To avoid overpaying, repay the full used amount within the grace period, not just the minimum. The date and amount are shown in the app.

How to use it without overpaying

• repay what you spent before the grace period ends;
• don't withdraw credit funds as cash — the grace period usually doesn't apply to withdrawals;
• watch the payment date to avoid being late;
• avoid minimum payments as the only repayment method — that leaves interest on the balance.

What happens if you're late

If you don't make the minimum payment on time, the bank charges interest on the balance at the contract rate, a penalty is possible, and the late payment goes into your credit history. So pay by the stated date; with temporary difficulties, contact the bank in advance.

FAQ

Does the grace period apply to cash withdrawals?

Usually no — grace covers purchases, while withdrawing credit funds as cash often incurs interest and a fee right away.

How do I check my limit and balance?

The current limit, used amount and available balance are shown on the card in the Oschad 24/7 app.

What if I only pay the minimum?

The card stays in good standing, but interest accrues on the balance. It's better to repay the full amount within the grace period.

How do I close the credit card?

First fully repay the debt, then submit a closure request at a branch or via support.

Limits, rates and grace-period length may change — check current terms in the Oschad 24/7 app or on the bank's website.