OREANDA-NEWS. The Bank of Moscow has announced an extension of the grace period for credit cards from 50 to 55 days. Now the holders of credit cards of the Bank of Moscow will be able to profit from the borrowed funds for free up to 55 days (upon the condition of observance of the rules of credit card use). Whereas before, the debt accrued on the credit card had to be repayed before the 20th day of each month, now the debt repayment period has been extended until the 25st day of each month.

But even if you will not profit from the grace period for credit cards, using them is still much cheaper than taking fast loans in shops.

- Today we brought our credit conditions for plastic cards still closer to the international standards, - says Alexander Sherstyukov, Managing Director of the Retail Business block of the Bank of Moscow. - In the West plastic cards have long been a most ordinary means of payment, people use them for paying their utility bills, in shops, when booking rooms at hotels. Bank cards are becoming increasingly available to the general public which means that credits cards stand a very high chance of becoming the most popular loan product in Russia.