"I don't have credit card, how to buy in installments?” We made a guide for you!

For many people, not having a credit card can be a hindrance when it comes to making important purchases or acquiring desired products. Whether due to approval issues, a personal choice not to use cards, or even financial reasons, this situation poses challenges for those who want to make installment payments and comfortably manage their budget.

Therefore, in this article, we'll explore practical and affordable options for those looking to pay in installments without relying on a credit card. Explore the options, understand how each one works, and discover which one might be ideal for your profile and financial needs.

Why Buy in Installments Without a Credit Card?

The option to pay for purchases in installments without a credit card offers several advantages and is an important alternative for many consumers. Splitting payments into several installments can significantly help with financial organization and the ability to purchase products that would otherwise not fit into the monthly budget. For those who don't have a credit card, installment payments in other ways offer:

• Easy to buy without compromising your budget: By dividing the amount into installments, you spread the cost over several months, which allows you to keep your finances balanced.
• Possibility to plan monthly expenses: Paying in installments without a card gives you more predictability when it comes to spending, allowing consumers to better organize their payments and avoid the pressure of paying for a purchase in cash.
• Access to goods and services without the need for traditional credit: For those who choose not to have a card or have difficulty obtaining one, paying in installments via bills or digital credit is a viable option without additional bureaucracy.

How to Buy in Installments Without a Credit Card

For those who want to split payments for purchases without relying on a credit card, there are several options available. Each of these alternatives offers specific advantages and practical installment plans, facilitating access to products and services even for those without conventional credit.

Below, we'll explore some of the main ways to pay in installments without a card, showing how they work and how you can choose the one that best suits your needs.

Payment in installments on the bill

Payment in installments using a boleto (boleto) is an alternative that allows you to split the payment of a purchase without needing a credit card. With this option, the consumer chooses the number of installments and, instead of receiving a single payment, receives monthly bills with fixed due dates.

This makes it easier to control your finances and ensures you pay for your purchases gradually, without compromising your budget all at once.

Stores that Offer Payment in Installments

Some of the main retail chains and e-commerce platforms already offer this payment method to facilitate consumer access:

• Magazine Luiza: The network allows you to pay for purchases in installments using a bank slip with special conditions and quick analysis.
• Casas Bahia: On the website and in physical stores, you can choose to pay in installments using bank slips, especially for higher-value items.
• Free Market: The platform has partnerships with fintechs that enable payment in installments using boletos, with specific credit analyses.

Credit Analysis

To ensure the viability of installment payments via boleto, stores perform a credit check on the consumer before approving the purchase. This process is generally simplified, taking into account the payment history and financial data provided during registration. Depending on the store, there may be a requirement for proof of income or a pre-approved credit limit. If approved, the consumer can then proceed with monthly payment via boletos, under conditions very similar to using a credit card.

Store Cards

Store cards are a practical alternative for those who want to pay in installments without needing a traditional credit card. These cards function as a specific line of credit for use at a specific chain of stores, allowing consumers to split payments for products purchased in-store. In addition to facilitating installment payments, store cards often offer exclusive conditions, such as discounts and extended terms.

Networks that Offer Store Cards

Several popular chains offer their own cards to facilitate installment payments for their customers. Some of the most popular include:

• Magazine Luiza: The Luiza card offers payment in up to 24 installments on purchases made in stores and on the website, in addition to exclusive benefits.
• Casas Bahia: With the Casas Bahia card, you can pay for purchases in installments and have access to exclusive promotions and different limits for certain products.
• Renner: The fashion chain Renner allows you to pay in installments on your own card, with flexible terms and benefits such as cashback and points programs.
• Riachuelo: The Riachuelo card offers installment options for both in-store and online purchases, as well as benefits such as exclusive discounts.

Payment Fintechs

Payment fintechs have emerged as an innovative solution for those seeking credit without relying on a card. These technology companies offer installment options directly through apps, allowing consumers to request a line of credit to be used for purchases at partner stores. With a streamlined approval process and simplified requirements, these fintechs facilitate access to installment payments without the need for a traditional credit card.

Companies and Apps that Offer Credit without a Card

Some of the best-known fintechs in this segment include:

• PicPay: The app allows you to pay for purchases in installments using your own credit, in addition to having partnerships with several stores where the balance can be used directly.
• Credit Market (Free Market): Mercado Livre offers Mercado Crédito, which approves a pre-determined line of credit, allowing installments within the platform itself.
• Koin: This fintech offers the possibility of paying for purchases in installments on partner websites using a bank slip, without needing a card, and performs a credit check at the time of purchase.

Requirements and Partnerships with Stores

To use the credit offered by these fintechs, you must meet certain requirements, which vary depending on the company. They generally require registration on the app, income data, and credit history, and some perform a quick analysis before granting credit. Partnerships between fintechs and stores expand the possibilities for installment purchases, allowing consumers to use approved credit on specific networks and platforms, providing a practical and affordable alternative for those who want to pay in installments without a credit card.

Digital Credit

Digital installment plans are a modern version of the traditional brick-and-mortar store installment plan, adapted to the online environment. With this option, consumers can pay for purchases directly on the store's website, without needing a credit card, and payments are made in monthly installments. Digital installment plans are especially useful for those seeking flexible payment terms and prefer not to rely on a conventional card.

Stores and Platforms that Use Digital Credit

Many networks have already adopted digital credit to make installment payments easier for their customers:

• Casas Bahia: In addition to the store card, the chain offers digital credit, allowing payment in several installments on the bill.
• Point (formerly Ponto Frio): With digital credit, you can pay for purchases in installments and pay monthly bills directly through the platform.
• Magazine Luiza: The store also offers digital credit, ideal for those who want to pay in installments without using a credit card.

Steps to Get Digital Credit

To use the digital credit plan, the consumer needs to follow a few simple steps:

1. Store Registration: First, you need to create an account on the store's website and fill in basic details such as personal and contact information.
2. Credit Request: Next, during the purchase process, the consumer chooses digital credit as the payment method. The store then performs a credit analysis based on the information provided.
3. Credit Approval and Limit: After analysis, the store informs the approved credit limit and the available installment conditions, including the number of installments and interest rates, if applicable.
4. Monthly Payment: Once approved, the customer receives monthly payment slips and can track the installments on the store's website or app.

Personal Loan for Purchases

While a personal loan isn't the first option for those looking to pay for a purchase in installments, it can be a useful alternative in specific situations. When you take out a loan, you receive the full amount to pay for the desired item upfront and then repay the loan in fixed installments, usually with more predictable interest rates than those of a credit plan or credit card.

Pros and Cons of Personal Loans for Purchases

• Pros:
  • Quick access to the required value: With a personal loan, you can have the full amount to pay for the purchase immediately, ensuring that the product is yours without needing credit directly from the establishment.
  • Fixed installments: Unlike credit cards, which may have recurring interest rates, personal loans generally offer fixed installments, which makes financial planning easier.
  • Possibility of lower rates: In some cases, the interest rates on a personal loan may be lower than those on credit card installments, especially for those with a good financial history.
• Cons:
  • Interest applied: Like any line of credit, personal loans have interest, which can weigh on the total amount to be paid, especially over long terms.
  • Impact on monthly budget: Including an additional fixed amount in the budget may compromise your financial capacity, so it is important to assess whether the amount fits into your planning.
  • Need for caution with debt: It is important to remember that the loan must be used consciously to avoid accumulating debt or compromising finances.

Tips for Those Who Don't Have a Card and Want to Buy in Installments

For those who want to pay in installments without a credit card, some strategies can help you make better decisions and avoid financial problems. Below are some practical tips:

• Compare installment rates and conditions: Not all installment options have the same conditions. Before making a purchase, evaluate the interest rates and terms offered, comparing them with other options to ensure you're making the best choice.
• Analyze the impact of installments on the budget: It's important that the monthly installment amount doesn't compromise your budget. Evaluate your monthly income and other expenses to ensure your installment payments are sustainable over time.
• Research the reliability of fintechs and stores: Before using installment plans offered by fintechs or store cards, check the company's reputation, the services offered, and other customer reviews. This helps avoid surprises and payment issues.
• Opt for shorter deadlines when possible: The shorter the repayment term, the lower the total interest. If your budget allows, opt for shorter terms to minimize the final purchase cost.
• Plan your purchases: Assessing the true need for a purchase and planning in advance can help you avoid unnecessary debt. Additionally, some stores offer discounts for cash payments, which can be advantageous in certain situations.
• Check approval limits and conditions: Many installment options without a credit card require a credit check. If this applies to you, maintain a positive financial history and no outstanding debts to increase your chances of approval.