OREANDA-NEWS. October 25, 2011. More than one-fifth of the issued payment cards of Bank SNORAS are with the credit limit, while the sum granted to residents most frequently fluctuates from 1 up to 3 thousand litas. Presently Bank SNORAS payment cards have almost 300 thousand private clients or every tenth resident of Lithuania, reported the press-centre of Bank SNORAS.

“More than one-fifth of the clients use the Bank issued payment cards with the credit limit. This number almost has not changed in comparison to the year 2008. It shows that, independent of the economic situation, for a considerable number of the residents, apart from the permanent income they receive, the opportunity is important to have an additional money reserve which can be used if funds are lacking for more expensive purchases or daily expenses,” states Deividas Sipaila, the director of Bank SNORAS Sales Department. 

According to D. Sipaila, interest towards payment cards with the credit limit among the Lithuanian residents is felt constantly because the credit limit provides the opportunity to receive funds to cover unforeseen expenses, especially while being abroad. Such tendency should continue because the residents of Lithuania travel or make purchases on-line more and more.

The hire purchase cards are the most popular ones among Bank SNORAS issued payment cards with the credit limit. The maximum sum of the credit limit of the mentioned cards seeks up to LTL 6 thousand, whereas the bank clients most often choose the credit limit from 1 up to 3 thousand litas.

According to the director of Bank SNORAS Sales Department, while evaluating by age, payment cards with the credit limit are most often used by 36-45 years old clients of the bank. The stable income and more active usage determine that this age group most often chooses the payment cards with the credit limit. 

The credit limit size, which is provided by Bank SNORAS, depends on the gained income after evaluating which the possible credit limit is calculated. Evaluation starts from the minimum gained income.

The owners of Bank SNORAS payment cards can choose 45-days period of the interest payment postponement and to use the credit free of charge. After the credit limit is covered within the provided period, it is not necessary to pay the interest.  The interest for the used credit limit of the payment cards without the postponement period seeks from 12 per cent.