Royale Bank has been promoting its large credit card promotion since mid-November, which will last until Christmas. At first glance, the customer-seductive scheme overseas seems irresistible, so we wondered if we could really do it well.
The Royale Joker credit card included in Royale’s promotion is not just a simple credit card. It allows customers to receive one of the largest refunds available on the Hungarian market for their purchases.
While refunds do not come with every purchase, the business profiles that are most relevant to our daily shopping are all included in the refund categories. Business profiles are the so-called. They are classified on the basis of the MCC (Merchant Category Code), which is a non-variable setting specified by the card accepting bank at the time of installation of the POS terminal and its merchandise. This means two things at once: if you get it wrong, you might not get the expected refund, and even if you buy a technical item in a larger supermarket or hypermarket, the store category will still be coded as a grocery store and receive a refund. Unfortunately, the MCC code is nowhere to be found, so we need to trust that when we enter a store, its POS terminal is encoded with the MCC code we expect.
Here are the business profiles in which our purchases are eligible for a refund:
- DIY, garden
- gas station
- beauty, health
- at home
Royale Bank offers a 1 percent refund on purchases in these store categories. However, the customer can choose from 3 business categories where they get back 4 percent instead of 1 continuously.
There is an upper limit for the refund, which, however, gives you a refund even after a very generous spending. As a general rule, the customer will be refunded for the purchase amount equal to the amount of their credit line, but not more than HUF 250,000 per month (the limitation is a combination of 4% and 1% refunds). The petrol station category, however, is an exception to the main rule: up to 30,000 forints per month, a 4 percent refund is granted, with a 1 percent refund.
For air lovers this special offer is also available
In addition to Royale Joker’s credit card, another Nizz Air credit card is also participating. There are no business profiles selected for this card, but for every $ 100 you spend on a purchase, the cardholder gets 2 points. If you purchase Nizz Air services with your credit card, you get 4 points for every $ 100 you spend. In addition, each new Nizz Air credit card master card holder will receive 10,000 welcome points from Royale Bank and the cardholder will automatically become a member of the Nizz Discount Club.
The points you earn can be redeemed for a Nizz Air flight ticket for 1 point = US $ 1, which means that you can buy a plane ticket sooner or later from a permanent 2% refund. For example, with a credit card purchase of $ 100,000 a month, you get $ 24,000 a year for airline tickets, which you can fly several times, with deals now available in major European cities for as little as $ 6,990. However, points collected can be redeemed for other Nizz Air services (eg baggage costs, extra legroom). In addition, part of the booking can be paid out of the points collected.
Is it worth switching to Royale credit card?
In answer to the question in the introduction: it is very worth it! With the new Royale Joker or Nizz Air credit card, interest on purchases and cash withdrawals and interest on debt assumed is 0 percent until April 10, 2015! That is, we can delay the lump sum repayment until mid-spring for interest-free credit, or if we are not able to repay the full amount spent, we will not pay the credit interest until at least until this date. . For example, spending 100,000 forints per month can save up to 27,000 forints during the promotion period!
In order to participate in this promotion, use a new Royale Joker or Nizz Air credit card and the customer will have to redeem the embossed (!) Credit card debt of another credit institution. Royale Bank will provide an existing credit card limit of up to HUF 2 million if the customer qualifies for credit. In fact, it is easier for anyone employed to apply for a credit card without having to submit an employer certificate.
Fees for promotional Royale credit cards
So what you pay for during and after the promotion is the following fees. The annual fee for each type of credit card is $ 4,932, which is free for the first year only if the credit card holder purchases at least the same amount within 3 months of issuing the credit card. The monthly short-term fee is 200 HUF. Credit card purchases are free, with cash withdrawals each time being 3.14 percent plus $ 200. The interest-free treatment applies only to purchase transactions and only if the cardholder repays his / her full debt within 15 days of the end of each month (ie the 10th of the following month). However, for a monthly interest rate of 2.76% (33.12% on an annual basis), partial repayment is also possible, in which case at least 5% of the total debt, but at least HUF 2,000, must be repaid.