How to quickly apply for an installment card using a passport

How banks issue installment cards using passport data

Currently, the passport installment card segment is represented by 4 banking products from Qiwi Bank (Sovest), Sovcombank (Halva), Home Credit Bank (Svoboda), and Alfa-Bank (Vmestodeneg). There are also additional offers for credit cards from other lending institutions that feature an "installment" option. However, credit cards with an "installment" option differ from classic installment cards in their preferential lending terms. Thus, credit cards establish a so-called grace period, which provides interest-free use for 30-150 days, while an installment card has a grace period of up to 24-36 months, allowing you to pay for goods in equal parts (with a credit card, you need to pay the entire amount at once, which places a debt burden on the borrower).

Issuing banks enter into partnership agreements with partner stores, which provide installments both under a partnership program and as a general installment plan. Partnership programs offer a longer installment period, whereas classic installments do not exceed 3-4 months.

Using our financial services matching service, you can go to the official website of the issuing bank, submit an application, and receive installment cards by passport in a convenient way without employment verification.

• Follow the link to the official website of the issuing bank for the installment card.
• Submit a standard online application.
• In the application form, indicate your phone number, as well as your passport details, including residential registration.
• Indicate the desired credit line amount, within the limit set by the issuing bank (no more than RUB 300,000 - RUB 350,000).
• Submit an online application for an installment card by passport and wait for a decision within a maximum of 10 minutes.

After the application is approved, you will be offered a card receipt option depending on the bank's capabilities:

• at the branch;
• courier delivery;
• at the bank;
• via Russian Post.

During data verification, the bank uses a scoring system that allows it to review a passport installment card application urgently. In some cases, credit history data and other information that may affect application approval are taken into account. If necessary, the issuing bank has the right to extend the review time up to 24-48 hours and request additional information from the borrower to increase the probability of approval.

Where you can get an installment card using a passport after application approval

Each issuing bank develops an individual online application review scheme that takes into account all data provided by the borrower to achieve a high probability of approval. In most cases, banks issue the banking product on the day of application once approved.

All application review options are preliminary, so there are several ways to notify clients. If you are applying for the first time, approval information will be sent via SMS to the specified mobile phone number. If you were previously a bank client, information about application approval will be available in your personal account. Approval information is also sent to the email address provided in the application form.

According to the rules of the issuing banks, the approximate application review time for each lending institution regarding the card is roughly the same:

• Halva card, from 5 to 7 minutes.
• Alfa-Bank Vmestodeneg card — from 7 to 10 minutes.
• Sovest card — no more than 8 minutes.
• Home Credit Bank Svoboda card — from 7 to 10 minutes.

Please note that during this time you receive only a preliminary response to your application. Next, a human bank operator will need to process it. They will take about 1 hour to verify the information using their own scoring system. Quite often, the bank operator reviewing the application may send an SMS or call the borrower to state that the application will be reviewed within 24-48 hours. This is because the borrower provides data based only on a passport, so it is necessary to check their information through other communication channels, including credit bureau data, meaning their credit history will be taken into account.

Installment card delivery options

Not all credit institutions use a single delivery scheme for installment cards issued by passport. In detail, the following delivery schemes are provided:

• Qiwi Bank. Courier delivery only and only in certain regions of Russia.
• Sovcombank. Available for pickup at a branch, delivery via Russian Post, as well as courier delivery.
• Alfa-Bank. Only at a bank branch.
• Home Credit Bank. The institution's first banking product is delivered by courier, while starting from the second one, it is available only at a branch.

We recommend reviewing in detail the delivery method for a passport-based installment card without income verification at the time of filling out the application form.

Reasons why you might be denied an installment card

As statistics show, the approval rate for installment cards by issuing banks is 65-85%, however, rejections do occur for objective reasons. If you submitted an application and received a rejection, the clear reasons for this may be:

1. The applicant is not a citizen of the Russian Federation.
2. The borrower does not reside in a region covered by the installment card program.
3. Non-compliance with the age limit, both minimum and maximum.
4. The applicant's passport fails identification due to incorrectly provided information.
5. The applicant has a good credit history, but carries an excessively high debt load.
6. The applicant has a bad credit history, with data on current overdue payments also being taken into account.

Please note that having a bad credit history is evaluated for each applicant on an individual basis. Some credit institutions develop individual programs for installment cards. Thus, Sovcombank, which is famous for its "pension" programs, can offer loyal terms for loan approval to borrowers. Previously, such individual review programs were also provided by Alfa-Bank.

The key indicator for an installment card is the size of the credit limit. As a rule, if you provide information by passport, but do not specify data on employment and other sources of income, the credit limit is set at a minimum - from 5,000 to 10,000 RUB. Subsequently, the issuing bank independently makes adjustments to the credit limit, gradually increasing its amount. The main condition for revising the credit line is the timely repayment of the debt; no overdue payments must be allowed, and a positive borrower profile must be built. Further on, depending on the issuing bank's terms, the credit limit may be increased gradually at the end of a calendar month, quarter, or half-year. The credit institution increases the credit limit unilaterally, notifying the borrower through available means. A maximum credit limit on an installment card of up to 300,000-350,000 RUB is available both to bank clients—for example, those who previously opened a deposit account—and to new borrowers, for instance, those who top up their credit account with their own funds. If for any reason you fail to make the monthly installment payment on time, the bank applies an interest rate to the cash amount, and the installment card turns into a regular credit card with the interest rate specified in the tariff plan terms from the issuing bank.