Best credit cards with grace periods in Armenia: how to avoid Interest and choose the right option

A credit card is more than just a convenient way to pay when your account temporarily runs low on funds. In Armenia, banks offer credit cards with a grace period—allowing you to use the bank’s money for free, provided you repay it within a set timeframe. But to truly benefit and avoid paying interest, it’s important to understand how these cards work and what to look for when choosing one.

A grace period is a specific number of days set by the bank during which you can use borrowed funds without incurring any interest. The key condition: the full outstanding balance must be repaid by the end of this period.

Important: the grace period applies only to non-cash purchases. Cash withdrawals or card-to-card transfers are not covered—interest on these transactions is charged from day one.

What grace periods do banks in Armenia offer?

Currently, banks in Armenia offer grace periods ranging from 10 to 45 days. The longest option—45 days—is available only with a limited number of cards. Terms can vary significantly: in some cases, the countdown starts from the date of purchase, while in others, it begins from a fixed billing cycle start date set by the bank. Below, we will break down the conditions of these cards in detail.

Please note: the grace period is not an individual 45-day window for each purchase—it follows a single billing cycle. For example, if a bank’s grace period ends on the 25th of each month and you make a purchase on May 5, you’ll have only 20 days to repay the debt without interest.

What happens if you miss the deadline?

If the outstanding balance is not fully repaid on time, you lose the right to use the funds interest-free. The bank will charge interest on the full debt amount starting from the date of purchase. From that point, the bank’s standard credit rate applies—typically higher than that of a regular consumer loan.

Do bonuses extend the grace period?

No. Cashback, airport lounge access, and other card benefits do not affect the grace period. It remains fixed regardless of the card level or promotional offers. Consider bonuses as extra perks, but always keep track of your repayment deadlines.

How to choose the right credit card?

The AFM platform makes it easy to compare all available credit cards in Armenia based on key criteria, including:

1. Length of the grace period
2. Annual interest rate after the grace period ends
3. Annual service fee
4. Card type (standard, premium)
5. Availability of cashback or bonuses
6. Eligibility for non-residents

You can use an interactive filter to quickly select cards with the features you need—such as zero service fees, maximum grace period, free issuance, and more. This saves you hours of research: no need to call banks, browse websites, or compare terms manually.

Our Top picks: credit cards with the longest grace period

We analyzed the offers from all banks in Armenia and selected credit cards with the longest grace period available—45 days. The final list includes five cards, three of which are premium-level products. In this review, we’ll cover:

1. Terms of use
2. Exact interest rates after the grace period ends
3. Applicable fees and any hidden charges
4. Bonus features
5. Special conditions for non-residents—if you live in Armenia but do not yet have citizenship or residency status.

Mastercard Standard by Byblos Bank Armenia is a standard credit card offering a 45-day grace period.

The annual maintenance fee for this card is 9,000 drams. The credit limit is determined individually by the bank, with a maximum available amount of 1,500,000 drams.

The interest rate ranges from 17.81% to 23.81%, and a 1% fee is charged for cash withdrawals. If you are a non-resident, an additional 5,000 drams account opening fee applies.

To apply for the card, you must provide a passport and an employment contract or another official document confirming your source of income. These requirements apply to both residents and non-residents.

Mastercard Gold by Byblos Bank Armenia is a Gold-class credit card offering a grace period of up to 45 days.

The annual maintenance fee is 18,000 drams. The credit limit is available up to 1,500,000 drams. The interest rate ranges from 16.42% to 21.36%. The cash withdrawal fee is the same as with the Standard card—1%. Non-residents are subject to a one-time account opening fee of 5,000 drams.

To apply, both residents and non-residents must provide a passport and a document confirming their source of income, such as an employment contract.

Visa Platinum by IDBank is a premium credit card offering a 45-day grace period along with added benefits.

The annual maintenance fee is 18,000 drams. The credit limit is determined individually based on your credit history. The interest rate is fixed at 19%, while the cash withdrawal fee is higher—2%.

With this card, you receive two free airport lounge visits per year and can earn up to 25% cashback in the form of idcoin bonus points when purchasing airline tickets. 1 idcoin = 1 dram, and accumulated points can be used for QR payments.

To apply, you’ll need a passport and proof of income. This requirement applies to both residents and non-residents. For non-residents, there is a one-time account opening fee of 10,000 drams.

Visa Signature by IDBank is a premium credit card that offers an extended package of premium services along with a 45-day grace period.

The annual maintenance fee for this card is 69,900 drams, but if you apply online, a first-year discount applies, reducing the fee to 34,500 drams. The credit limit is set individually based on your credit history. As with the previous card, the interest rate is fixed at 19%, and the cash withdrawal fee is 2%. For non-residents, a one-time account opening fee of 10,000 drams applies.

Cardholders receive 4 free airport lounge visits per year. The card also includes Fast Track service and up to 25% cashback on flight bookings in the form of idcoin bonus points (1 idcoin = 1 dram). These points can be used for QR code payments.

Regardless of your residency status, to obtain this card you must provide a passport and a document confirming your source of income.

Visa Infinite by IDBank is the bank’s flagship credit card, offering the most comprehensive set of privileges along with a grace period of up to 45 days.

This is a premium card with a high annual maintenance fee of 99,900 drams. The credit limit is determined individually. The interest rate is fixed at 19%, and the cash withdrawal fee is 2%.

The card includes 6 free airport lounge visits, Fast Track service, and up to 25% cashback on airline ticket purchases. Cashback is earned in the form of the bank’s corporate bonus points (idcoin), which can be used for future purchases via QR payments (1 idcoin = 1 dram).

To apply, you’ll need a passport and proof of income. For non-residents, the same documentation applies, along with a one-time account opening fee of 10,000 drams.

Conclusion

As we can see, the maximum grace period offered by all selected cards is 45 days. IDBank provides the broadest range of options—from basic to premium cards with added bonuses and privileges. For those seeking standard conditions, Byblos Bank Armenia offers competitive alternatives.

Before applying, be sure to consider not only the length of the grace period, but also the annual maintenance fee, interest rate, cash withdrawal fees, and document requirements. A credit card can be a very convenient financial tool for everyday expenses—if you understand the details and use it wisely.