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Converse Bank-Visa Concord

Converse Bank-Visa Concord joint card

Owing to the new Converse Bank-Visa Concord card, you can make use of the credit limit provided by the Bank and make non-cash payments at service points and the internet environments.

Those customers who will make use of Visa Concord travel agency’s packages or air tickets purchase services and will pay with Converse Bank-Visa Concord card, will get the following opportunities:

  •  1-5% discount at Visa Concord travel agency (provided by Visa Concord company)
  •  Receipt for free access to the business lounge of Armenia International Airports1.
  •  In case of travelling abroad, medical insurance is provided for a maximum period of 30 days within 1 calendar year2.

Terms and conditions of the settlement card

Card type Mastercard Standard settlement card
Maximum amount of the credit limit Up to five fold of the net salary and other income, maximum AMD 1.000.000
Currency of the card AMD
Annual service fee for the card AMD 6,000
Type of the credit limit Revolving, with grace period
Annual nominal interest rate of the credit limit 15.5%
Restriction The card can be used only for making non-cash payments

1The receipt is provided to each person purchasing 1 ticket or 1 travel package.
2The customer shall submit the receipt for purchase of a ticket or travel package to the Bank’s branch, and the respective insurance shall be provided on the basis of such documents.:

General terms and conditions

Procedure of repayment of the credit limit

The customer is granted with a grace period of 15 days starting from the statement date, and in case of paying the full used part of the credit limit during the grace period no interest is charged.

 

The customer shall repay the debt specified in the statement until expiry of the grace period, in accordance with the Tariffs and Rates set by the Bank.

The part of the credit limit used by the customer is restored for the size of the repaid amount.

In case of failure to repay fully the liability created at the end of the grace period, interest is accrued at the interest rates set by the Bank’s tariffs at the given moment. After preparation of the statement the customer shall credit to the account at least 10% of the credit limit used by the customer plus the interest accrued for the current month, from which the interest calculated for each month shall be deducted and the remaining amount of the credited amount shall be directed for restoration of the credit limit used by the customer. In case of failure to make the minimum 10% payment set for the credit limit, the used limit is considered overdue for the respective amount, and daily penalty of 0.15% of the overdue amount is accrued.

Penalties

  •  In certain cases, depending on the place of usage of the Card and the character of the transaction, the credit limit of the card can be exceeded in the result of one or several transactions, in case of which a penalty is accrued in the size set by the Bank’s Tariffs and Rates.

"WARNIGN: IF YOU FAIL TO REPAY THE INTEREST AND PRINCIPAL AMOUNT OF THE LOAN IN TIME, INFORMATION ABOUT YOU WILL BE SENT TO THE CREDIT REGISTER"

List of required documents

  •  Application;
  •  Copy of the personal identification document;
  •  Public services number or a reference on having no public services number;
  • Reference from the place of employment printed on the employer’s letterhead, specifying the position held, length of service, and size of the net salary. The reference shall be issued not more than 15 days before its submission to the Bank. The customer can be also required to present a copy of his/her available annual individual statement submitted for the customer by the employer to the RA Social Insurance Fund (this list of documents doesn’t apply to cards secured with pledge of funds or to corporate settlement cards);
  • Other documents, if required.