If you prefer to spread the cost of your mattress, you can do it without having to pay a penny more than if you paid up front in one go. Plus you still get all the benefits of our risk-free 100 night trial. Intrigued? Read on to find out more.
Splitit offers you a flexible way of paying for items in instalments, completely interest-free, by reserving the available line of credit on your existing credit card. Then, each month, according to your payment plan, Splitit collects the instalment amount and reissues the authorisation request for the remaining balance.It is important to note that payments are still charged on your existing credit card.
Splitit simply provides you the method to do this and information about the instalments. Here is an example of how the service works for a customer buying a £849 mattress in 12 instalments of £70.75 each:Splitit obtains authorisation from the credit card company for the full purchase amount of £849. This is not a charge on the card; it is simply reserving £849 from the customer’s line of credit.-
The credit card company then charges the customer £70.75 for the first payment.- During the second month, Splitit requests authorisation for the outstanding purchase amount of £778.25, and charges the customer the second installment of £70.75.- This authorisation and charge process continues until the full £849 is collected–in this case, for 12 months.