PrivatBank credit card: how to get one and how to use it

A PrivatBank credit card gives access to a credit limit for everyday purchases with a grace period during which no interest is charged. You can get it online in Privat24, and using it is beneficial if you understand the grace period, the minimum payment and instalments. Let's go through it all.

What the grace period is

The grace period is the time during which the bank charges no interest for using the credit limit, provided you repay the spent amount on time. At PrivatBank it can reach 55 days on purchases. The key rule: repay the debt before the grace period ends — then using the credit is effectively free.

How to get a credit card online

1. Open Privat24 → "Cards" → "Open a card".
2. Choose a credit card and apply — the bank assesses a possible limit.
3. Accept the terms; after approval the credit limit becomes available.
4. Use the card for purchases and repay the amount before the grace period ends.

Screenshot: applying for a credit card in Privat24

The minimum payment and how to make it

Each month you must pay at least the required minimum payment — a small part of the debt plus accrued interest. It keeps the card in good standing but doesn't free you from interest on the balance. To avoid overpaying, better repay the full used amount within the grace period, not just the minimum. The date and amount are shown in the app.

Instalments and pay-in-parts

Large purchases can be split into parts via the instalment / pay-in-parts services in Privat24. It's convenient, but read the terms carefully: some instalments are interest-free (funded by partner shops), others carry a charge. The amount and payment schedule are shown before you confirm.

How to increase the credit limit

• use the card actively and repay on time — the bank may raise the limit automatically;
• submit a limit-review request in the app;
• confirmed income and a good credit history improve your chances.

What happens if you're late

If you don't make even 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. That makes getting loans harder later. So pay by the date shown in the app; if you have temporary difficulties, it's better to contact the bank in advance.

How to close a credit card

To close a credit card, first fully repay the debt (principal + interest + fees), then submit a closure request at a branch or via support. Make sure you receive confirmation of account closure, not just a card block — otherwise servicing may continue.

FAQ

Does the grace period apply to cash withdrawals?

Usually no — the grace period covers purchases, while a fee and immediate interest often apply to cash withdrawn from credit funds. Check the terms.

What happens if I miss the grace period?

The bank charges interest at the contract rate on the remaining debt. That's why repaying on time matters.

Can I keep a credit card without using it (as a backup)?

Yes, a card can sit with zero debt. But watch for a possible servicing fee — so debt doesn't accumulate out of nowhere.

How do I check my credit limit and balance?

The current limit, used amount and available balance are shown on the card in the Privat24 app.

Limits, rates and grace-period length may change — check current terms in the Privat24 app or on the bank's website.