Rating of installment cards

Which card is better: what to look for when choosing

Each of the banking products listed in the top below has its pros and cons. The cards differ in installment period, credit limit, various promotions, and maintenance costs. Therefore, before applying for a card, carefully review all terms and conditions. For example, a product may offer a 12-month installment plan, but the limit or annual maintenance fee might not suit you. It may be better to order an installment card with cashback for additional savings.

Pay maximum attention to the following details:

• Tariff plan. This includes the annual maintenance fee, as well as commissions for cash withdrawals, transfers, and other transactions.
• Ease of application. Cards are usually issued on the same day or shortly after. You can also order an installment card with home delivery.
• Number of branches and ATMs. It is advisable that branches and ATMs are located close to your home or workplace.
• Limit. Banks set the maximum amount that can be spent within a month.
• Cashback availability. This feature helps get back a portion of the money spent on purchases.
• Cash withdrawal commission. Financial institutions often allow cash withdrawals without commission if certain requirements are met. For example: monthly card turnover must be at least 70,000 RUB.
• Installment period. Cards with a 90-day grace period are most common, but the installment period can be longer.
• Size of penalties.

Do not overlook partner lists either. Banks may partner with stores where you do not normally shop.

Follow these tips and you will be able to choose the right installment card.

Top 9 most popular installment cards

We have compiled a ranking of the most popular banking products. When compiling the list, the installment period was given the highest priority.

By the way, our list includes cards with favorable grace periods; we included them because some products have an installment period shorter than these grace periods.

9 — Rassrochka Credit Card from Vostochny Bank — up to 90 days

Ninth place in our ranking goes to the "Rassrochka" credit card issued by Vostochny Bank. By getting this plastic card, you can receive a 90-day installment plan on all purchases, including closing loans at other financial institutions.

The card has a limit of 300,000 RUB and cashback. A 10% refund is available in the "Driving" category, 15% in "Online Shopping", 10% in "Entertainment", 5% in "Warmth", and 2% on all other services.

8 — 100 Days Without Interest (banking product from Alfa-Bank)

In eighth place is the best product from Alfa-Bank — 100 Days Without Interest, which allows you to use borrowed funds free of charge for 100 days.

 

Note. You can use borrowed money to pay for utility bills, mobile communications, store purchases, and fines.

In addition, the card features:

• free delivery to your home or office;
• high application approval rate (rejection rate is minimal);
• credit limit — 500,000 RUB;
• cash withdrawals without a fee (with limits — no more than 50,000 RUB per day).

And another indisputable advantage is the well-functioning customer service: operators answer calls immediately.

This card has virtually no flaws, aside from the maintenance cost of 590 rubles per year.

7 — MTS CASHBACK (MTS Bank) — card with a grace period of 111 days

This is another universal card (from MTS Bank alone) that allows you to purchase goods in installments and get 5% cashback in categories such as "Pharmacies", gas stations, "Cinema", and "Entertainment". It has a credit grace period of up to 111 days, which applies exclusively to non-cash transactions. If the grace period conditions are not met, a recalculation will be made at a rate from 11.9% to 25.9% per annum.

Plastic issuance costs 299 rubles. Credit limit is 500,000 RUB.

Transferring money from one card to another within the bank is free. In other cases, a fee is charged.

6 — "Svoboda" from Home Credit — 10-month installment plan

We awarded the sixth spot in our ranking to the "Svoboda" banking product. It is designed to pay for goods in online stores or other retail outlets. Although partner stores offer installments of up to 12 months, any purchase comes with a short grace period of 51 days. The amount a cardholder can spend ranges from 10,000 to 300,000 rubles. There is an option to increase the credit limit — it is reviewed every 6 months.

 

Although Home Credit Bank issues cards to new users for free, reissuing them will cost 200 rubles.

The "Svoboda" installment card works on a traditional principle. For example, if you bought a treadmill for 60,000 rubles and split it into equal payments, you will pay 6,000 RUB per month for 10 months.

The card can only be picked up at an office; home or office delivery is not available.

5 — Т-Банк Платинум — выгодная карта с рассрочкой до 12 месяцев

 

Main advantages of the banking product:

• Grace period of up to 55 days.
• Limit — 700,000 RUB.
• Prompt courier delivery to your home or office.
• Instant credit card decision.
• From 12% per annum for purchases and from 30% for cash withdrawals and transfers.
• Bonus points available. For any purchases, the cardholder gets back 1% of the spent amount and up to 30% for purchases via special offers (at partner stores).
• Option to top up the account free of charge via the partner network.

Maintenance cost — 590 RUB per year.

4 — Prosto credit card from Citibank — 12-month installment plan + 150 days without interest

Citibank offers a profitable product with no annual maintenance fee and no cash withdrawal commission.

 

The Prosto credit card also has other advantages:

• seasonal shopping: 12-month installment plan (amount of 5,000 RUB);
• ability to withdraw cash on preferential terms;
• credit limit of 300,000 RUB with the possibility of subsequent increases;
• installment plan for credit card cash withdrawal transactions, including unique (quasi-cash) transactions;
• availability of special offers and promo codes.

Please note. The card is available to citizens with an income of at least 30,000 RUB per month.

3 — Halva Mastercard World from Sovcombank — up to 18 months of installments

Third place on our list goes to the well-known Halva. This is a versatile 2-in-1 payment tool. You can store your own funds on the plastic card from Sovcombank, as well as borrow money to purchase goods. Sovcombank offers installments up to 12 months and 5.5% on the account balance. The card also features up to 6% cashback on any goods, but only if they were purchased with your own money.

Please note. To receive cashback, you must meet the minimum requirements: make at least 5 purchases for a total of 10,000 RUB or more.

 

Halva also has other advantages:

• accepted everywhere;
• free issuance and maintenance;
• can be applied for at any time;
• courier delivery to the specified address;
• availability of the "Bonus 5x10" loyalty program.

Halva also has drawbacks. People complain that large fines are charged for violating the payment schedule. Users want higher cashback and very often do not find their favorite stores among the partners. Moreover, Halva is a temptation: since you want to buy everything at once, it is difficult to plan your family budget.

2 — Free MIR credit card from Russian Standard Bank — installment plan up to 24 months

In second place is the MIR card. The banking product provides favorable terms of cooperation:

• grace period of up to 55 days;
• credit limit of 300,000 RUB;
• free cash withdrawals at partner ATMs and cash-out locations (0% for the first 30 days, after which you can withdraw up to 20,000 RUB for free);
• payment for services in online banking, mobile banking, and bank ATMs without commissions;
• free mobile banking and online banking;
• availability of loyalty programs;
• card blocking and unblocking: free of charge;
• no annual maintenance fee.

As for installments, the minimum term is set not by the bank, but by partner stores. For example, a jewelry store is ready to sell its goods on an installment plan for 3 months, while a furniture company is ready to accept payments in parts throughout the year.

Citizens aged 21 and older can order the card with home or office delivery (throughout Russia).

1 — MTS Dengi Zero — 1,115-day installment plan

First place in our ranking goes to the card from MTS Bank — MTS Dengi Zero. It has an almost endless grace period of 36 months + 20 days. A maintenance fee of 30 RUB per day is charged if the cardholder is using the loan. At the end of the grace period, the rate is 10% for using borrowed funds. If contract terms are violated, MTS will charge a penalty of 0.1% of the debt for each day.

 

 

The credit limit for the MTS Dengi Zero product is 150,000 RUB. Cash withdrawals are available without commission, but there are daily limits. You can top up the card from an individual's account for free, while top-ups from sole proprietors and legal entities incur a 5% fee.

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Credit card vs. installment card: what is the difference

Since the two banking products are very similar, users do not see the difference between them. But there is one.

Usually, an installment card can only be used at partner stores. A credit card can be used anywhere.

Please note. Some payment instruments have no restrictions set, in which case they are no different from credit cards.

Most installment cards do not allow cash withdrawals. Credit cards have a grace period during which you can use borrowed funds for free, and it does not matter whether you withdrew them as cash or spent them in an online store. However, some banking products also allow cash withdrawals, and the interest rate may be lower compared to a credit card.

Installment card maintenance is almost always free, while credit card maintenance fees vary depending on the type of payment card (there are free options and those costing several thousand).

You cannot transfer money from an installment card to another user's account — this feature is not provided.

Installment hassle or genuine savings?

On one hand, banks offer a good interest-free period, but on the other hand, they come with a number of conditions that must be met to enjoy all the "perks". Therefore, people wonder if it is really worth getting an installment card.

Our answer is — yes, it is!

Here is why:

Most offers have a long period, which allows you to purchase the desired item and pay back the money in installments without straining your budget.

Most often, people take out installments for inexpensive items, and a term of 3 to 12 months is enough to cover the debt. Since installment cards have lower interest rates compared to credit cards, the benefit is obvious.

Conclusion

An installment card is a banking product that, when used correctly, benefits all parties to the transaction. Credit institutions receive a commission from stores, while customers can afford to buy what they need now and pay for it later without overpaying, especially since prices in retail outlets rise almost every day.