My Experience with the 24-Month Refinance on the Halva Card: Is It Really Worth It?

I'll be the first to admit, I'm not a fan of taking out loans, especially when it comes to credit cards. The interest rates are usually super high, and it feels like you're paying your own money back with a hefty fee. But life can be unpredictable, and sometimes you need to dip into your credit card for unexpected expenses. In my case, I had to use my credit card for a surprise expense of 177,000 rubles. That was a real wake-up call.

I'd heard of the Halva card before, but I never looked into it. I knew you could make big purchases on it, like in installments. I saw an ad online for the Halva card – 24 months of interest-free installments up to 300,000 rubles. I did some research, read the reviews, and thought it was worth a shot. The terms seemed pretty sweet. I was curious to see how it would work.

Halva Card Sovcombank Refinancing my credit card for 24 months

So, how do you apply? I went the easy route and opened the official website, clicked the apply button, and filled in my contact details – phone number and name. A few minutes later, I got a call from Sovcombank. They quickly ran through the terms of the offer and asked me to fill out an online form for preliminary approval. I hesitated for a split second. I didn't want to share my personal info over the phone, but waiting in line at the bank wasn't exactly appealing either.

They asked for my passport details, work info, employment history, income, and whether I owned any property or vehicles. They also needed me to send the bank account details where my existing credit card was opened:

Loan detailsInterest rateLoan agreement number and dateAmount to be repaidLast payment amount I scanned all this information from my bank's online portal and sent it via the link they provided for submitting documents to Sovcombank. You can also send it to their email address. I was a bit nervous about sharing all this info, but it seemed like the standard procedure.

Next, I received a link to confirm the provided data via the government services portal, which I did. That was a pretty straightforward process.

On the same day, the operator got in touch with me again and informed me that the preliminary application had been submitted. If I gave my consent, they would send a courier with the documents and card. I met the courier the next day, and they brought me a card (no-name) and I signed a few documents. The loan amount in these documents was zero. This was essentially a preliminary agreement. After that, the courier took photos of all the forms and documents and sent them to the bank. I was recommended to download the 'All Cards' app to activate the card. I tried to do it right away, but it didn't work. I called the bank's customer support, and they explained that my contract was still being processed.

I received a call on my work phone from the HR department, and it was a query from the bank. Once they confirmed all the information, the bank's service got in touch with me again, and I was finally able to activate the card and log in to the app. In the 'My Documents' section, I received the loan agreement with the bank's details and the interest rate – 0%. At this stage, it's crucial to double-check all the bank's details because Sovcombank will send the payment instruction to repay your credit card on their own.

I dug into the fine print and signed off on the documents with an e-signature. I was a bit anxious waiting for the funds to hit my credit card – it was a loan of 177,000 rubles after all. But to my surprise, the money arrived quickly, within 4-5 hours. Here are the terms of the 24-month interest-free refinancing with my Halva card: Every month, you've got to make at least 5 purchases worth 10,000 rubles. These can be any purchases, including transportation costs before paying your utility bills. The problem is, it's not easy to make purchases for less than 10,000 rubles. Luckily, the app makes it easy to track your cards, so you don't have to do any calculations yourself. Plus, paying your utility bills is commission-free, and you even get a 1% cashback. What's important to note is that the payment period is 30 days from when you took out the loan, not a month. So, if you don't follow this rule, you'll have to pay back the loan in just 6 months, or you'll start getting charged interest. It's not a great situation to be in, trust me.You'll need to make payments on the card according to the payment schedule, which gives you about two weeks to make the payment. Let's say the payment is due on the 11th - you'll have until the 26th to make the payment. However, as soon as there's money on your account, it will be taken out to cover the loan. If you've got 300 rubles, for example, it will be taken out in full, and you won't be able to use it until the loan is fully paid off. You'll see two graphs - one for the loan and one for the money that's being taken out to cover it. I wouldn't recommend using that money, to be honest. It's just a hassle. There's a clause in the contract that says you need to log in to the app several times a month, but I'm not sure how often that's really necessary. I find myself checking it all the time anyway.

After my bank credited the money to my credit card, I had to visit the bank that issued it and close the account. In my case, this took 30 days. On the 31st day, I went back and ordered a statement of account closure, which they provided and stamped with a blue seal. Why do I need to do this? One of the conditions is that you have to present this document to the Sovcombank branch within 45 days of opening the credit. What happens if you don't? You'll be charged a penalty of one payment, but not less than 4999 rubles.

That's it! To be honest, it's not that hard to do. The key is to take it seriously. At this point, I've been using the Halva card for two months now, and I'm completely satisfied. I even got a small interest on the remaining balance of my own money - it's a small thing, but it's nice.

I get my salary from another bank and immediately transfer it to Halva, where I get various cashback, bonuses, promotions, and so on. I successfully pay off the credit on time, meet all the conditions, and want to pay it off early. Without interest, it's much easier. I took the statement to the Sovcombank branch, and they accepted it quickly. I would definitely recommend it! I didn't find any scams, most negative reviews start with 'I didn't meet the condition by one day...' - but you need to meet it.

The only minus is transferring money through St. Petersburg with a commission, but I'm still not sure about it and there aren't many ATMs in the city.

Sincerely, JellyFish, Wishing you all the best