Splitit exists to help consumers use their favorite credit card to turn purchases into smaller, monthly payments using their existing credit card.
At the time of purchase, we charge the first instalment. However, at the same time we also authorise the whole outstanding amount in order to guarantee future instalment payments. Authorisations for the full outstanding amount are renewed every 21 days or so and reduce with each instalment payment made. The previous authorisation is automatically removed as soon as we receive the new one.
Since it’s your credit, there are no applications or credit checks that affect your credit score and make things complicated to slow you down at checkout. And you continue to earn your points and rewards.