Home Credit installment credit card: customer reviews on conditions

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

Recently, not just credit cards, but installment payment cards have begun to gain more and more popularity. And this is no accident. Such cards have a number of advantages. Not so long ago, Home Credit Bank also issued its installment card.

Installment card

The Home Credit Bank installment credit card was issued in August 2017. And immediately competed with such cards as "Conscience" and "Halva". This card, unlike others, has a wider affiliate program, as well as a long installment period. This makes it more attractive in the financial services market.

With the "Home Credit" installment card, you can pay for goods and services not only in stores, but also on the Internet. In this case, the payment period can be from three months to one year.

The credit limit on the card is set by the bank after consideration of the submitted application. For each client it is individual. The credit limit varies from 10 thousand to 300thousand rubles.

However, please note that cash cannot be withdrawn from the card. It is intended only for paying for purchases by bank transfer.

Pros of the card

Reviews on the Home Credit Bank installment card are mostly positive. And all thanks to its many pluses:

• Firstly, the card is issued by the bank absolutely free of charge. In addition, the client receives free SMS notifications about transactions made with the card.
• Secondly, this is an interest-free installment period in absolutely any store. And in those outlets that are partners of the bank, the grace period for paying with this card reaches twelve months.
• You can pay with the card in any store around the world, since the card is supported by the Visa international payment system.
• The card has a renewable limit. If you make a loan payment on the card, then these funds can again be spent on new purchases.
• You can pay off your card debt in full, at any time and without fines and hidden fees.

Reviews about the "Home Credit" installment card are also good because only one passport is enough for its registration, which means that you do not need to collect a special package of documents and certificates. In addition, the card has a flexible debt repayment system. You can make both equal monthly payments and pay the minimum amount. It is only seven percent of the total debt.

Flaws of the card

Despitenumerous positive reviews, the "Home Credit" installment card has its drawbacks. One of them is the inability to withdraw cash. It can only pay for goods and services. In addition, the bank does not issue cards to holders of credit cards of its own bank. This is due to the fact that in this case the client has too high a financial burden.

The disadvantages include the fact that there is little information about the card on the official website of the bank. And yes, it is very superficial. Therefore, it will not be easy for a person who is not strong in credit topics to immediately understand the intricacies of installments.

Who and how can receive

Credit card "Installment" from "Home Credit" received different reviews. This is due to the fact that not everyone can easily get a card. According to the terms of the bank, the card is issued to clients who have reached the age of majority, but in fact it is problematic to obtain it at that age. Agree, at the age of eighteen, few people have a permanent source of income. Yes, and lovers of getting a lot of credit cards, most likely, will be refused by the bank. This is due to the fact that any credit card increases the financial burden of the borrower, even if it is idle. Therefore, before you get a lot of credit cards, you should think.

In general, any solvent citizen of the Russian Federation from 21 to 65 years old who has a positive rating in this bank can get a card. For first-time clients, the age range is 23-64.

From the documents will be enoughprovide a passport, and non-working pensioners a pension certificate.

An application for a card can be issued both at the bank branch itself and on its official website. As a rule, it takes no more than three days for consideration.

But it is worth considering that this card is not delivered to your home. Therefore, it will be necessary to visit the bank with a positive decision.

Home Credit installment card - customer reviews

This card is a novelty in the credit market. For this reason, reviews about it may be different. However, banks often listen to the opinion of customers and try to eliminate shortcomings and improve positive indicators as soon as possible. Unfortunately, the Home Credit installment credit card, according to customer reviews, has its own "cons". For example, customers complain that they were denied a card, and there were also difficulties in understanding the terms of concessional lending. Complaints were also received about too long registration. But, apparently, all these claims do not relate to the action of the card itself and cannot fully characterize it.

Negative feedback about the "Home Credit" installment card is also expressed by those customers who were refused to receive it due to the high debt load. So, in one of the reviews there was a complaint and an indication that the borrower had been a client of the bank for several years. At the same time, he regularly pays on an existing credit card. But it was precisely the presence of a bank card that could serve as a refusal. Multiple credit cards in one bankpractically impossible, as this affects the solvency of the borrower.

Those customers who understand well the conditions provided by the installment card and skillfully use them, are satisfied and leave only positive feedback about it.

Before you draw a conclusion after reading the negative reviews, you should consider that most of them are written on emotions. Therefore, it would be nice to learn about the card from bank employees.

It is also necessary to take into account the fact that so far there have been no complaints about fraudulent transactions by the bank.

Reviews of bank employees

Reviews about the Home Credit installment card come not only from those who use it, and those who were denied issuance, but also from the bank employees themselves.

In their opinion, the "Installment" card has a number of advantages over the cards of competitors' banks ("Conscience", "Halva"), since its grace period is three months when purchased in any of the stores. And in partner stores, it reaches twelve months. Another positive quality of the card is that the annual maintenance of the card is free. And this makes it more profitable compared to the new products from Alfa-Bank ("100 days without interest" card) and "Post Bank" ("Element 120").

But it is worth considering that this card does not have any cash backs or other bonus programs.

Terms and rates

Terms of the "Home Credit Bank" installment cardare quite simple. As has been repeatedly said, it is intended only for purchases. Therefore, one of the conditions is the inability to withdraw cash.

The card does not have a cashback and it is impossible to connect the "Benefit" bonus program to it. For this, the bank issues separate cards.

You can pay your card debt in equivalent payments. They depend on the credit limit and the funds spent on the card and are calculated at the bank. In this case, there will be no overpayment for purchases at all. If the client decides to repay the debt with minimum payments (seven percent of the funds spent, but at least 1000 rubles), then it turns out that he took a loan from the bank at 29.9 percent per annum.

In this case, it turns out that the client pays a pen alty and thus does not spoil his credit history. And the conditions of the bank will not be violated. Only the terms of the installment plan are violated.

Working principle

Those who have already repeatedly stacked with credit cards that have a grace period, it will be easy to figure it out. Well, those who have issued such a credit card for the first time will also be able to quickly understand the whole essence of the installment plan and its grace period.

The "Installment" card has a calculation period, its beginning can be the fifth, fifteenth or twenty-fifth day of each month. The settlement period lasts one month, during which the bank records all transactions made on the card.

Next comes the billing period. It equals twentydays. These days you need to make a payment for the funds spent. Together, billing and billing periods are approximately fifty-one days.

The installment period begins when you make the first purchase with a card. It will last three months, and if the purchase was made from one of the bank's 40,000 partners, then a whole year.

The first payment on the card must be made with the amount that is necessary for payment by installments. Other payments can be made with the same amount or minimum payments.

The Home Credit Bank installment card received many negative reviews precisely because of a misunderstanding of the difference between the minimum payment and the installment payment.

How to recharge the card

The mechanism for replenishing the card is quite simple. There are many standard ways to deposit funds. First of all, these are bank cash desks. You can also do this in any terminal.

You can also top up the card through your personal Internet banking account by transferring funds from any other bank card. The main thing is not to postpone the payment until the very last moment, because it happens that funds are received on the card late.

Early repayment

You can make early repayment on the card at any time. There are no pen alties for early repayment. As soon as the borrower deposits the entire amount spent on purchases on the card, the debt will be repaid automatically.

Notit is worth remembering that when depositing only a part of the amount, it will be necessary to continue to make minimum payments. The most optimal way to make an early repayment will be during the payment period.

But an incomplete or untimely payment will automatically terminate the installment plan. It will be possible to resume it only after paying the full amount of the credit card debt.

What is the benefit of the card

Many people wonder what is the benefit of partner stores? After all, it is much more profitable to sell goods on credit than in installments.

Everyone has their own benefit. Bank customers can purchase goods, while paying for it in equal installments, without interest. Partner stores, participating in the bank's program, increase the number of their customers, and therefore the number of sales.

What is the benefit of the bank?

The bank attracts new customers, who may be interested in other products of the bank in the future. Also, the bank receives cash interest for late payment or when the client makes only the minimum payments.

Should I open the card

As already mentioned, reviews of the "Home Credit" installment card are different. This makes many people think about whether to issue this card.

There are pros and cons. For example, given that the grace period on the card is three months, not only with bank partners, but also when making a purchase absolutely anywhere, of course, it is worth it.

Againstthe fact is that any delay in payment will add almost thirty percent to the amount of the remaining debt.

Before deciding whether to issue a card or not, you should read reviews about it and get the most detailed information from bank employees.