Ardshinbank Credit Cards

A Ardshinbank credit card is a payment instrument with an approved credit limit. Unlike a debit card, it allows you to use funds borrowed from the bank within the established limit. If you repay the debt during the interest-free grace period, no interest is charged. This makes a credit card a convenient tool for everyday purchases without overpayment.

Ardshinbank offers 8 credit cards for different categories of customers, ranging from classic to premium cards, with cashback, reward programs and additional privileges.

• Classic credit card - a standard product with a grace period and a basic rewards program
• Cashback card - a percentage of the purchase amount is credited back to the account, with increased cashback in selected categories
• Installment card - interest-free installment purchases from the bank’s partners
• Premium card - an increased credit limit, additional privileges, concierge service and travel insurance
• Miles card - miles earned on purchases that can be exchanged for airline tickets and services from partners
• Youth card - for customers aged 18 and over, with lower income requirements

The grace period is the period during which no interest is charged on the outstanding debt. At Ardshinbank, the grace period is up to 25 days. It is important to understand two key points:

• The grace period applies to cashless purchases. As a rule, it does not apply to cash withdrawals or transfers, and interest is charged from the first day of the transaction
• To benefit from the grace period in full, you must repay the entire outstanding debt before the end of the billing period, not only the minimum payment

Ardshinbank credit cardholders can participate in the bank’s loyalty program. Rewards are earned on cashless purchases and can be used to pay for goods and services from the bank’s partners, repay credit card debt or obtain other privileges.

Cards with increased cashback offer priority categories such as supermarkets, restaurants, gas stations and travel, with a higher cashback rate. The terms of the loyalty program are provided on each product page on AFM.am.

Withdrawing cash from a credit card is a paid transaction. As a rule, the grace period does not apply, and interest is charged from the first day. In addition to interest, the bank charges a cash withdrawal fee.

Daily cash withdrawal limits:

• At Ardshinbank ATMs - up to 2 000 000 AMD
• At other banks’ ATMs - up to 300 000 AMD
• Fee - 2.5% of the amount, with a minimum fee of 2 000 AMD

Recommendation: use your credit card primarily for cashless purchases. This allows you to benefit from the grace period and avoid additional expenses.

When applying for a credit card, it is important to consider the following:

1. Complex grace period - it is important to clearly understand the start and end dates of the billing period. If you repay only the minimum payment instead of the entire debt, the grace period will not apply during the next billing period
2. Cash withdrawals - this is an expensive transaction because there is no grace period and a withdrawal fee is charged
3. The minimum payment does not eliminate interest - making only the minimum payment means paying interest on the remaining debt
4. High interest rate after the grace period - if you do not repay the debt on time, interest is charged at the full rate on the entire outstanding amount
5. Late payment penalties - missing even the minimum payment results in penalties and negatively affects the borrower’s credit history

Ardshinbank requirements for credit cardholders:

• Armenian citizenship or a residence permit
• Age from 18 to 70
• A permanent and verified source of income
• A positive credit history
• Registration in Armenia

Required documents:

• Armenian passport
• Proof of income for most programs
• Additional documents at the bank’s request

Step 1 - Compare all Ardshinbank credit cards on AFM.am and select a suitable product based on the grace period, credit limit and cashback terms

Step 2 - Visit the bank’s website to submit an online application or go to the nearest branch

Step 3 - Complete the application form, provide the required documents and wait for the bank’s decision, which is usually made within a few minutes

Step 4 - Collect the card from a branch or request courier delivery

Step 5 - Activate the card through the mobile application or an ATM

Pros:

• ✓ Grace period of up to 25 days for purchases without overpayment
• ✓ Credit limit of up to 10 000 000 AMD
• ✓ Cashback and rewards program
• ✓ Online application without visiting a branch
• ✓ Free service or free service subject to certain conditions
• ✓ Card management through the mobile application

Cons:

• ✗ Higher cash withdrawal fees at other banks’ ATMs
• ✗ Free service only when the bank’s conditions are met

1. What credit cards does Ardshinbank offer?

   Ardshinbank offers 8 credit cards, including classic, cashback, installment, premium and miles cards. All offers with current terms, including the credit limit, grace period and service fee, are available on AFM.am.

2. What is the grace period for Ardshinbank credit cards?

   The grace period for Ardshinbank credit cards is up to 25 days. During this period, no interest is charged on the outstanding debt, provided that it is repaid in full before the end of the billing period. The grace period does not apply to cash withdrawals or transfers.

3. What is the maximum credit limit for Ardshinbank cards?

   The maximum credit limit for Ardshinbank cards is up to 10 000 000 AMD. The final limit is determined individually by the bank based on an assessment of the borrower’s ability to pay and credit history.

4. What cashback is available with Ardshinbank credit cards?

   The cashback amount and terms depend on the type of card. Cards with a loyalty program offer rewards for cashless purchases. Selected cards offer increased cashback in priority categories. The exact terms are provided on each product page on AFM.am.

5. How much does it cost to maintain a Ardshinbank credit card?

   The service fee depends on the type of card. Some Ardshinbank cards offer free service when the bank’s conditions are met. The annual fee for premium cards starts from 60 000 AMD. The exact rates are provided on each product page.

6. Can I apply for a Ardshinbank credit card online?

   Yes, you can apply for a Ardshinbank credit card online through the bank’s website or mobile application. A preliminary decision is made within a few minutes. To receive the card, you will need to visit a branch with the original documents.

7. What are Ardshinbank requirements for credit cardholders?

   Armenian citizenship or a residence permit, age from 18 to 70, a verified and stable income, a positive credit history and registration in Armenia. The complete list of requirements depends on the type of card and is specified on the bank’s website.

8. What happens if I miss a payment on a Ardshinbank credit card?

   If the minimum payment is missed, the bank charges penalty interest and late fees on the overdue amount. The grace period will not apply during the next billing period. Late payments negatively affect the borrower’s credit history.

9. How can I repay debt on a Ardshinbank credit card?

   You can repay the debt through the Ardshinbank mobile application, online banking, an ATM or a branch cashier. To benefit from the grace period, you must repay the entire debt, not only the minimum payment. The minimum monthly payment is 3% of the outstanding debt.

10. Can I withdraw cash from a Ardshinbank credit card?

    Yes, cash withdrawals are available at Ardshinbank ATMs and other banks’ ATMs. However, this is a paid transaction. The grace period does not apply, interest is charged from the first day, and a fee of 2.5% of the amount is also charged. We recommend using the card primarily for cashless purchases.