Use your existing credit card. No new loans or applications needed.
Manage your plan
How Splitit works
No additional interest or fees*
Splitit will never charge you interest or fees. (Your standard credit cards T&Cs still apply)
No new loans
Use the credit you have already earned. All you need is the balance available on your credit card.
Keep the rewards coming
You get all the benefits of paying with your credit card, including rewards, transaction insurance and protection against fraud.
How Splitit works
Splitit guarantees your purchase, by placing a hold on your credit card. This is not a payment, it’s just a pre-authorization that allows you to pay off your balance over time, before accruing any interest.
In most cases the hold is only temporarily held on your card and the duration is dependent on your issuing bank. In some cases the hold may remain on your card for the duration of your payment plan. Please check with the business you are purchasing from for more details.
You get all the benefits of paying with your credit card, including rewards, transaction insurance and protection against fraud.
Installment plan
You choose the number of monthly payments that suit you and your budget. You will need the full purchase amount available as credit on your credit card on the day of purchase.
Authorization
Splitit authorizes the full amount of the purchase on your existing credit card and reserves the balance from your credit card.
First installment
The first installment is charged a few seconds after the purchase authorization or upon shipping.
Pay monthly
Splitit will charge your credit card every month until the plan is finished.
No account setup needed
Splitit works with your existing credit card, utilizing the credit you have already earned, and can be used with any merchant who has Splitit added to their checkout.
After purchasing with Splitit you will get access to your personal online portal where you can manage your plan.
Sample plan
Purchase price of $3,000 split over 6 months using your existing credit card.
| Amount paid | |
|---|---|
| Pay today | $500 |
| 2nd payment | $500 |
| 3rd payment | $500 |
| 4th payment | $500 |
| 5th payment | $500 |
| Final payment | $500 |
Still have questions about how Splitit works?
You can find answers to our most commonly asked questions here. If you can’t find what you’re looking for, please visit our Support centre where you’ll find lots more answers, plus you can live chat with us.
Frequently asked questions
Please visit our support centre.
No, unfortunately not. We are only able to accept credit cards at the present time.
Splitit is supported by Visa, Mastercard, and depending on the merchant, American Express, Discover and UnionPay.
You can find all our terms and conditions here.
Yes.
Splitit helps consumers use their existing credit card to turn purchases into smaller, monthly payments.
The full amount of your purchase is authorized (held) on your credit card to guarantee future payments so you need to have at least that amount in available credit on your card.
The authorization amount reduces with each monthly payment you make until the balance is cleared and we renew these authorizations periodically. The previous authorization is removed as soon as we receive a new one.
Payments are the regualr installments that are charged to your credit card. Authorizations for the full outstanding amount are taken in addition to your regular installments, to guarantee your future payments.
When you buy using Splitit, the retailer takes your first installment straight away, this may be later if your goods are being shipped at a later date. The rest of your monthly installments are automatically taken on the same date as your first one. This date cannot be changed. Monthly installments show as ‘charged’ or ‘posted’ on your account.
In addition to your monthly installment payments, the full outstanding amount is authorized (held) on your card to guarantee future payments.Authorizations are usually renewed every 17-21 days until your plan is paid off. Authorizations get smaller with each installment paid. The previous authorization is released once a new one is obtained. Authorizations show as ‘pending’ or ‘reserved’ on your account. If your plan is kept on track, these authorizations are not charged.
In addition to your monthly installment payments, the full outstanding amount is authorized (held) on your card to guarantee future payments.Authorizations are usually renewed every 17-21 days until your plan is paid off. Authorizations get smaller with each installment paid. The previous authorization is released once a new one is obtained. Authorizations show as ‘pending’ or ‘reserved’ on your account. If your plan is kept on track, these authorizations are not charged.
You can check your monthly payments as well as whether a re-authorizationis due (when and for how much), in the Splititshopper portal.
There are some variations to the above, depending on your retailer and the payment processor they use.
To see exactly how your plan works, log in to theshopper portaland under ‘Plan Details’ click on ‘How Splitit Works?’. This will take you to a detailed explanation of your particular plan.
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*Your standard credit card terms and conditions still apply
