How to profitably apply for installment cards without refusal

Main requirements for obtaining an installment card with guaranteed approval

According to official statistics from financial and credit institutions, if a borrower meets the selected criteria when applying online for an installment card with high approval, out of 10 applicants, only 2 or 3 applications are rejected due to non-compliance with the chosen criteria. Some cards have a low refusal rate of only 1 out of 10 submitted applications.

Please note that optional requirements for issuing installment cards with high approval have similar characteristics and requirements to those for regular credit cards. In essence, an installment card is a simplified and more accessible option compared to a credit card with a similar operating principle.

 Region of residence and citizenship when applying

Our matching service helps you correctly choose and apply for an installment card with cash withdrawal (currently, this service is available for only 1 banking product: the "Sovest" card). The main principle of the card's operation is to stimulate purchases at partner stores of the issuing bank, where you can buy necessary goods without putting money aside for the future. Cash is not a stimulus, so this approach is not welcomed for all installment cards.

Main regional requirements for installment card applicants:

• Russian citizenship.
• Permanent registration in one of the regions of the Russian Federation is required.
• The Russian internal passport is the main document confirming the above parameters for an installment card applicant.
•  Information on temporary stay in one of the regions of Russia is allowed to obtain the banking product (temporary stay is confirmed by the relevant document).
• For some issuing banks, a condition of residence within a certain radius from the location of the bank's main branch or office is required; as a rule, this radius is set within 70-120 km.

Requirements for regional ties to the bank's location can increase the chances of getting an installment card from the age of 18 without refusal. In this case, the applicant may have an open deposit or another banking product with the issuing bank. The existence of such an indisputable fact leads to the bank approving the installment card application with a 100% probability without any refusals or checks.

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Documentary confirmation and application collateral

In most cases, when applying for an installment card with high approval and no checks, just a single document is sufficient: the internal passport of a citizen of the Russian Federation. Additionally, data on a second document may be requested, such as a SNILS, driver's license, and sometimes a military ID, international passport, higher education diploma, etc.

If the initial conditions are met and only using a passport without refusals and checks, the issuing bank will only be able to issue the minimum amount to open a credit line, which most likely does not exceed 100,000–150,000 rubles. Home Credit Bank, as well as Alfa-Bank, may request additional information confirming official income to increase the credit line for the selected banking product. For individuals, this is the 2-NDFL form, and for individual entrepreneurs and self-employed citizens, the 3-NDFL certificate. After reviewing the income information, the bank can unilaterally increase the credit line threshold without checks for the installment card.

Assessment of the applicant's solvency

To make the installment card available to the applicant without checks and refusals, issuing banks conduct a selective solvency check program to approve the minimum credit line. In this case, it is not necessary to indicate the place of work or the main source of income. The applicant independently indicates their income parameter based on family composition. The bank automatically calculates the borrower's solvency. However, at the applicant's request, employment data and wage information can be attached to the installment card without checks.

Credit history for application approval

Having a credit history is mandatory for the borrower. The issuing bank can consider an application with either a good or a bad credit history. In both cases, if there is a reason for it, the bank may refuse to issue an installment card (for both good and bad credit histories).

Applicants with a good credit history have the highest chance of application approval, but those with a bad credit history also have equal chances of approval at certain issuing banks.

Every credit history has a rating indicated by a scoring system. A drop in a poor credit history rating is associated with the following factors:

• There is a fairly large number of short-term overdue payments.
• There is one or more long-term overdue payments.
• The borrower has credit obligations with other banks.
• The borrower has court claims and debt collection orders. There is information on enforcement proceedings from the Federal Bailiff Service (FSSP).

Each credit institution applies its own data analysis algorithm to the data they receive from the database in order to approve an application. For example, Sberbank of Russia denies credit card applications for one reason: there are outstanding credit obligations on other banking products at other financial and credit institutions in Russia.

Which banks offer installment cards with high approval rates

If a bank declines an application, it invites the borrower to reapply in 30 days. Even if a bank client has a good credit history, their installment card application may be declined solely for reasons known only to the banking organization. None of the card applicants are informed of the reasons for the refusal or approval of their application.

In the segment of installment cards with no checks and no rejections, the leaders are:

• Home Credit Bank, issuing the "HCB Installment Card" banking product.
• Alfa Bank, the #Vmestodeneg standard card.
• QIWI Bank, the "Sovest" installment card.
• Sovcombank, the "Halva" banking product.

The average review time for a preliminary application takes up to 7-9 minutes. After your request is approved, the bank makes a final decision within 30-50 minutes, after which you must choose how to receive your card. As a rule, cards are issued at bank branches or delivered by courier to your home. QIWI Bank can deliver an installment card via Russian Post, as the credit institution does not have its own branches in Russia.

The installment card comparison service invites you to review current offers from leading Russian issuing banks, which are likely to approve installment cards for borrowers without checks and rejections, with a good credit limit of up to 300,000 to 350,000 RUB.