How Your Splitit Plan Works

When you buy using Splitit, the retailer takes your first payment straight away, this may be later if your goods are being shipped later. The rest of your monthly payments are automatically taken on the same date as your first one. This date cannot be changed. Monthly payments show as 'charged' or 'posted' on your account.

In addition to the first monthly payment, the full outstanding amount is authorized and temporarily held on your card to guarantee future payments. This hold remains for around 30 days during which time your available credit is reduced by the authorization amount. After this time, the amount on hold is released back into your available funds on your credit card. Authorizations show as 'pending' or 'reserved' on your account. 

If a monthly payment is declined, we will email you to let you know.  After 5 days, if the transaction is still declined, we will charge your card with the monthly payment using the authorization that was taken when your plan started.