Which installment cards for online shopping should you get

What are the advantages of an installment card for online shopping

Unlike standard credit banking products, a card for online shopping will be available to most of you. While statistics show that out of every 10 applicants, 4-5 people can get credit card approval, for installment cards this figure reaches up to 8. An additional plus of this banking product for online shopping is that by paying with the card, you can get an approved credit limit of up to 300,000 RUB, and some banks issue up to 350,000 RUB.

Installment payment for a purchase is the main advantage of these bank cards. For example, if you bought goods worth 15,000 RUB on a 4-month installment plan, starting from the next month you need to pay equal installments of 3,750 RUB. At the same time, you do not pay an interest rate if you pay off the installment plan on time.

• The borrower can repay the loan both during the installment period and ahead of schedule, with no penalties for early loan repayment.
• It is permitted to make payments exceeding the specified minimum amount.
• You can make multiple installment purchases within your established credit limit.
• Some banks allow you to use an installment card with your own funds and earn an annual percentage yield.
• Make purchases in both online and brick-and-mortar stores.

The card allows spending money outside of the partner network. In this case, the banking product functions as a regular credit card. Within the partner network, purchases accrue interest on borrowed funds and earn cashback.

Ultimately, the core purpose of an installment card is to use a designated amount of money for interest-free purchases over several months. Typically, the installment term ranges from 1 to 12 months or more. For example, if you buy home appliances for 28.2 thousand RUB with a 6-month installment plan, starting the next month you pay off the debt in equal parts over 6 months, paying 4,700 RUB each month.

General rules for using installment cards for online shopping

To properly use an installment card for online shopping, you should review the list of partner stores. All banks recommend setting up a personal account via a mobile app or computer. This way, you will always know which online stores and brick-and-mortar retailers offer goods on installment using the banking product.

Next, you can make a purchase in an online store by following a link to the official website. Afterward, you can make purchases, and a report will be generated automatically. Transaction details and upcoming payments will be available in your personal account and via SMS notifications. If you buy goods on installment for 12,000 RUB for a term of 12 months, you will pay 1,000 RUB per month.

The bank issuing the installment card sends the cardholder information on how, when, and how much to pay during the interest-free period. If for any reason you fail to pay the installment on time, an interest rate applies. The average rate is up to 10%. Exact rates outside the grace period can be checked in the tariff plan of your issuing bank.

Персональный подбор

Подберем предложения под вашу ситуацию

Оставьте телефон — покажем варианты с высокой вероятностью одобрения и актуальными условиями.

• Проверенные предложения
• Без звонков от менеджеров
• Результат в удобном канале

Website

Phone required

Email for selection

Согласен на обработку персональных данных и получение информационных и рекламных сообщений. Privacy Policy. Также хочу получать персональные подборки в Telegram. Это необязательно, отключить можно командой /stop. Подобрать предложения

Features of making installment card purchases on the Internet

Many issuing banks have tens of thousands of partner stores included in their installment network under the allocated credit limit. When making online purchases with an installment card, pay attention to the following points:

1. All partner stores are listed in the borrower's personal account.
2. Each region has its own list of partner stores included in the promotion terms.
3. Partner stores may have terms valid only for physical stores, only for online stores, or for both.
4. Installment cards can be used in both online and brick-and-mortar stores, meaning the terms apply to both options.
5. When paying in an online store, the borrower receives additional loyalty program bonuses; for example, some issuing banks offer cashback.
6. In some cases, making online purchases with the card offers reduced prices to attract customers to online shopping.

Note that today the list of issuing banks offering installment cards is limited. We are not considering installments as part of a credit card here. In this context, an installment card for online shopping is viewed as an independent banking product known as an "installment card for store purchases." The following banking products are available to borrowers:

• Svoboda card, issued by Home Credit Bank.
• Vmes todeng card, an installment plan from Alfa-Bank (discontinued).
• Halva installment card, issued by Sovcombank.
• Sovest card, issued by QIWI Bank.

Each bank has a complete list of partner stores, including online merchants that accept installment cards for online purchases.

Features of getting an installment card for online shopping

To purchase goods on installment via the internet, our financial services matching platform offers to submit an online application, after which you will receive approval from the issuing bank and get the banking product.

• Applicants must be Russian citizens aged 18 or older.
• The borrower must be registered in the Russian Federation; some issuing banks require registration in the region where the lending institution is located.
• You need to follow the link to the bank's website and submit an online application after filling out the questionnaire.
• The questionnaire requires all passport data and contact information.
• Choose a delivery method: several issuing banks offer courier delivery, or you can pick up the card at an office.

Please note that the maximum credit line is 300,000–350,000 RUB. The initial limit may be small. The exact credit line amount can be specified after submitting the application. Even if you are initially approved for a small credit limit, it can later be increased to the maximum possible amount.

We recommend sticking to the installment repayment schedule. If you violate the repayment terms, the standard interest rate applies. The average rate is about 10%. Installment cards available on the Russian market have no annual fee, meaning you pay 0 RUB for the banking product itself. The installment term ranges from 1 month to 12–18 months. Applications are reviewed in no more than 10 minutes. Afterward, you receive an SMS notification about how to receive the banking product at the lending institution. The Halva card is one of the few where making online installment purchases allows you to get a high cashback of 6% (when using your own funds). Other installment cards feature a large list of partner stores that accept payment for online purchases.

The financial services matching platform recommends that online shoppers apply for an installment card, which will help them truly appreciate a banking product that enjoys high trust among buyers.