Cards

Security Deposit and Credit Limit

Security Deposit

In order to get the card, a security deposit with Rietumu Bank is required:

	USD	EUR	LVL
Light	0	0	0
Classic	300	250	150
Business	300	250	150
Gold	600	450	300
Platinum	1000	750	500

¹ If you order more than 1 card, the security deposit is required for each card

Credit Limit

The cards come without credit limit, meaning that you can only spend amount transferred to the card. You can request a credit limit against an extra deposit placed with the bank. Residents of Latvia can request credit limit against the documentation, supporting regular monthly income:

• VISA / MasterCard Classic – starting 250 LVL net income after tax;
• VISA / MasterCard Gold – starting 700 LVL net income after tax;
• VISA / MasterCard Platinum – starting 2000 LVL net income after tax.

Use of Credit Limit

You have to repay your credit limit monthly – transfer or deposit the required amount, which covers the credit limit amount outstanding as of the end of the previous month, into your card account until the end of the current month.

For example, if you have a credit limit of EUR 1000 and at the end of February you spent EUR 500 of this amount, then you have to transfer or deposit EUR 500 into your card account by 31 March. You can transfer or deposit this amount in parts. Having transferred or deposited the required amount into your card account, you can continue using your credit limit in full (EUR 1000).

The Bank calculates a credit limit interest on the daily basis for the credit limit amount disbursed (the amount outstanding) as of the end of the day. The interest accrued is withdrawn from the card account at the end of the month.

Revolving Credit Facility

A revolving credit – is a type of credit limit allowing the Customer to pay off not less than 10% of the amount disbursed in the previous month as well as the credit limit interest by the end of each month.

For example, if you have a credit limit of USD 2500 and at the end of February you spent USD 1000 of this amount, then you have to pay off USD 15 for the credit limit disbursed in February and to transfer or deposit not less than USD 115 into yourcard account by March 31. You can transfer or deposit this amount in parts.

The Bank grants the revolving credit to the Customer after analysis of the the credit history with Rietumu Bank.