Online lending is gaining popularity not only in banks and MFIs. Borrowers are looking for alternative ways to raise funds, choosing new companies as lenders. One of these is the non-banking organization Rusfinance Loan. Rusfinance Loan offers its customers to issue a virtual card as an alternative to a credit card. Many were interested in the lender's offer. But mostly negative reviews about the Rusfinance Loan virtual card make you wonder if it is worth trusting the offer. Read more about this in the article.
Features of the virtual card "Rusfinance Loan"
The virtual card from Rusfinance Loan is an analogue of a classic credit card, only without a plastic base. According to the description, she can be paid on the Internet, transfer funds to other credit cards and use it as an online wallet.
The main condition for using the card, which confuses most new borrowers, is paid activation. When ordering a credit card or transferring a debit plastic limit, all banks and MFIs also require product activation, but it is free of charge.
The reviews on the Rusfinance Loan virtual card indicate that you won’t be able to use the product without an activation fee. Payment should be made at the specified details in the amount of 975 rubles.
Virtual card: what's the catch?
Large banks such as Sberbank, Tinkoff, VTB 24 are involved in processing loan applications online. In all credit organizations, the application is submitted in the online bank or on the website where the borrower enters his personal data, passport and SNILS. When ordering a Rusfinance Loan virtual card, the same is required: data entry and application submission.
But no bank or MFI requires payment of a product in advance. When ordering debit or credit cards, service is debited from the account immediately after the application is submitted, but the client must deposit funds only after receiving plastic on hand. According to reviews, the release of the Rusfinance Loan virtual card is possible only after payment of 975 rubles. This means that the client actually pays a fee for the product, which, perhaps, will work in the Internet format after depositing funds.
Such conditions do not suit many borrowers. They do not want to spend money in advance for a loan product, which they made out for quick receipt of borrowed funds. Negative reviews about the Rusfinance Loan virtual card only confirm the concerns of the customers. And they make you think about choosing another organization.
Difference of a Rusfinance Loan virtual card from a credit card
Thinking about the design of a virtual loan product, customers involuntarily compare it with a regular credit card. But the virtual card from Rusfinance Loan has a number of differences from a credit card:
- Lack of plastic carrier.
- Favorable credit conditions. According to reviews, customers were offered to issue a virtual Rusfinance Loan card at 19.9% per annum.This is considered low interest for a card with a limit.
- The ability to transfer credit to other cards. Many credit cards, for example, Sberbank products, do not have such a service.
What is the difference between a credit card and a virtual one? Firstly, the client can withdraw cash from her at any ATM. In some banks, for example, Alfa-Bank, you can receive funds without a commission. Secondly, credit cards have a grace period during which interest for using the bank’s funds is not deducted from the borrower.
Opinion about Rusfinance Loan
The company positions itself as a non-banking organization. Indeed, there is no evidence that Rusfinance Loan is registered in the registry of the Central Bank. The regulator of the country's banking sector controls the activities of state and commercial credit structures, but Rusfinance Loan is not among the subordinate units. Therefore, customers are not able to verify the activities of Rusfinance Loan to be sure of the creditor's reliability.
Rusfinance Loan does not take part in the rankings, therefore, it is impossible to assess its current financial condition and progress. There are bold reviews on the Web about the Rusfinance Loan microloan, in which clients speak out that such a lender does not exist at all.
Most of the negative comments were from customers who were unlucky with a virtual card. In their reviews of the non-banking sector company Rusfinance Loan, they write that immediately after the transfer of funds, the lender blocked their personal account. Therefore, they recommend not trusting the company, let alone transferring funds for allegedly activating a virtual card.
What is required to order a card?
If the client decided to order a virtual Rusfinance Loan card, you should familiarize yourself with the requirements of the lender. To order a card you need:
- citizenship of the Russian Federation;
- passport;
- mobile phone;
- registration in one of the regions.
The process of ordering a virtual card "Rusfinance Loan": features
To receive a card with the possibility of online purchases, you must leave a request on the Rusfinance Loan website. The borrower must independently fill in all the data about himself, enter the information of the DOL and choose the conditions on the virtual card.
The limit can be any, but not more than 600 thousand rubles. However, most customers choose more modest amounts, for example, 50 thousand rubles.
The Rusfinance Loan customer reviews of the virtual card say that borrowers were attracted by the ability to adjust the credit limit. They themselves determined the necessary loan amount and got acquainted with the interest before sending the application for processing. Moreover, almost all Rusfinance Loan instantly approved the required amount on the card: it was only necessary to pay for the activation.
Virtual Card Terms
The maximum that the bank offered for using a virtual card is 24.9% per annum. Such interest immediately attracted the attention of borrowers, since in 7 out of 10 banks the minimum interest rate on a credit card had long exceeded the threshold of 30.9% per annum.
Some customers write in their reviews that they were attracted by the opportunity to receive a microloan in cash at Rusfinance Loan. But for registration of the service it was necessary to get a company card. According to the lender’s terms, information on card activation is actively displayed on the website and in your personal account. And for it, a payment of 975 rubles is required.
Borrowers who issued a virtual card earlier paid 799 and 899 rubles. Payments were made via the Internet, from another credit card or client’s wallet.
According to the lender’s terms, it’s impossible to get a cash loan over the phone at Rusfinance Loan, because the data on the website is not relevant. An online application is the only way to become the owner of borrowed funds in a virtual account.
Is it worth making a virtual Rusfinance Loan card?
There are a lot of negative reviews on the web about the Rusfinance Loan virtual product.97% of them came from customers who transferred funds for activation, but never received a card. They advise not to trust a tempting offer and not to order a virtual card using the Rusfinance Loan service.
But this does not mean that all virtual cards are bad. In other banks and online services, for example, Yandex.Money, payers have long been using virtual cards tied to a wallet account. And product activation was not paid.
Those who want to take a chance are advised to order a virtual card from another lender. But if in another company activation or another condition of the card will be paid, you should refuse the order and do not transfer cash until you receive a loan.
