Splitit Payment Options- How it work
"Due to conditions of use associated with access the the Splitit payment option "Knives can not form part of the purchase, to allow access to this Payment option."
Splitit option will become available on the "Checkout page" after completing the shipping and contact details.
After clicking “Complete order”, you will be redirected to Splitit Monthly Payments to complete your purchase securely.
Splitit requests authorization from the shopper's card company, reserving the total purchase amount from the shopper's available line of credit. Then, each month, according to the shopper's payment plan, the installment amount is collected and Splitit requests authorization for the remaining balance.
Here is an example of how the service works for a customer buying a Rod and Reel Combo for $300 in 3 installments of $100 each:
- Splitit obtains authorization from the credit card company for the full purchase amount of $300. This is not a charge on the card; it is simply reserving $300 from the shopper's line of credit.(the held amount might appear as pending. This ensures that the funds remain available to meet the repayments.)
- The credit card company then charges the shopper $100 for the first payment.
- During the second month, Splitit requests authorization for the outstanding purchase amount of $200, and charges the shopper the second installment of $100.
- This authorization and charge process continues with a single charge of $100 for the third and final month.
- At the time of purchase, you will only be charged for the first payment. The remaining balance will be held on your credit card until the final payment is made. After each monthly payment, the amount held from your available balance will be reduced to the new remaining balance (the held amount might appear as pending.)
- To be eligible, you must own a VISA or Mastercard and have the entire amount of your purchase available on your card.
For more information on how Splitit Works click the link below