Splitit payment options
Splitit is a payment solution that divides the cost of your treatment into up to 4 smaller monthly installments, with no interest as long as you pay on time.
With Splitit, you use your existing credit or debit card. There is no registration involved.
Splitit also avoids separate applications and credit checks – once your card is accepted, the transaction is good to go. These standout features make for an easy experience.
Splitit can be a helpful option as long as you have sufficient credit on your credit card and you usually pay the full balance each month.
Since Splitit uses your existing card, there is no credit check, application or waiting period for the service. Anyone whose payment method is accepted can utilize Splitit to manage your payment for your treatment.
You are charged for the first payment payment is confirmed. Splitit communicates with us directly, making the process easier for you.
The remaining balance is held on the card until the final instalment payment is made. Every month, the balance held is reduced as each payment is confirmed.
Making and monitoring your payments is also simple with Splitit. When you pay for your treatment, Splitit asks you to provide an email. Your email enables you to set up an account with the support portal on the Splitit website.
You can use this portal to monitor your instalments and make payments. Beyond the portal, you will also see the instalments on your monthly card statement, and Splitit sends a monthly email confirming the payment.
A unique and exciting feature of Splitit is that its instalment plans will not impact your credit score. Every month, your bank will only see the instalments made. Even if your payment method is declined, your credit score remains unscathed.
While there are no fees or charges for using Splitit, there are some potential associated costs you will need to keep in mind. As the instalments are automatically taken from your account each month, you will need to be aware of your ongoing balance and avoid overspending. If a payment is due, but your account doesn’t have the required funds, you could end up overdrawn on your credit card or debit account, which may result in you paying additional fees or charges, depending on your lender.
More information can be found here Splitit FAQs
Splitit doesn’t charge interest for payments made on time, no does Splitit charge fees, even for late payments. This is unique for the market.
However, any late payments will be charged interest at your card’s APR until they are paid off. It is still important to pay attention to your payment’s due dates and make timely payments.