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How is a credit card different from a installment card?

Currently, the cashless payment system continues to spread rapidly in the financial markets. Non-cash payment is a form of money circulation performed by banks or other financial sources without cash. Wide spread of cashless payment system plays an important role in reducing costs related to printing, storing, checking and transporting cash.

Recently, interest in the non-cash payment system has been increasing in the country. According to the data of the Central Bank, the volume of non-cash transactions increased by 2.3 times in January-July of the current year compared to the corresponding period of last year. During this period, the volume of non-cash payments made through cards amounted to 11 billion 891 million manats. In addition, 75 percent of executed non-cash payments were made by electronic commerce, 24.9 percent by POS-terminals, and 0.1 percent by ATMs. In particular, it should be noted that the increase in the number of payment cards plays an important role in the wide spread of non-cash payments.

According to the execution of operations, payment cards are mainly divided into two types: credit cards and installment cards.

What is a credit card?

A credit card allows the customer to use the credit line provided by the bank. For this reason, the client can use the credit line provided by the bank at any time, and return the amount spent a little later.

What is an installment card?

An installment card is a credit card with various advantages.

What are the differences between a credit card and a installment card?

The installment card provides customers with the opportunity to pay the cost of goods and services on favorable terms in companies partnering with banks. Thus, the used amount is paid for 1, 2, 3, 6, 12, 18 or 24 months, depending on the partner, without interest calculation. The debt on the card is paid to the bank by the corresponding date of each month during the corresponding months. No interest is charged on the debt during the payment period, but penalty interest is charged in cases of delay.

What are the advantages of a credit card?

➮ Grace period – is a period during which it is possible to use the loan without interest;
➮ Credit limit – reflects the maximum amount that the customer can spend from the card against a certain interest rate;
➮ Interest rate – is the rate of interest calculated after the end of the grace period.

How is the credit limit determined?

When applying for a credit card, a loan officer will determine the customer's monthly income and expenses. After the initial analysis, information about the limit is presented to the client. It should be noted that currently most banks in the country offer credit card products to their customers. But which credit card has the most favorable terms?

Kartmane Credit Card ✰

Rabitabank's credit card is currently the only bank product in the country that offers customers a grace period of 100 days. The maximum loan amount is 15,000 Azn. The term of the card is 5 years and the annual interest rate is 25%. At the same time, Kartmane offers loan customers 100% cash-out and 100-day grace period.

How to get a credit card?

You can order Kartmane Credit card online at The service fee for card preparation is 10 AZN It is 6 USD/EUR. The card is free upon initial deposit of at least 500 AZN/USD/EUR at Baku and Sumgayit city branches, and 200 AZN/USD/EUR at regional branches. The balance in the Kartmane account for the next years is at least 500 AZN/USD/EUR or the annual turnover is at least 3000 AZN/USD/EUR (the funds received into the account are not taken into account, the turnover means cashless retail and e-com turnover) and the surplus in this case, the service fee for that year is not charged.

What percentage of the credit limit amount can be cashed out?

Kartmane credit card gives customers 100% cashback option.

What is the term of the credit card?

Kartmane Credit is issued for a period of up to 60 months. The term of the credit line to be opened to Kartmane Kredit is 24 months.

For more information about the card: