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, we may authorize your card to check that you have funds available. This authorization is usually released shortly afterwards but whilst it is active, it temporarily reduces your available funds. Once the amount on hold is released, your funds will be available again on your card. Authorizations show as 'pending' or 'reserved' on your account.
If a monthly payment is declined, we will email you to let you know. You will need to resolve this with your bank/card provider or by changing your payment card to a different one. We will continue to try the declined transaction until it is successful.
If you have missed multiple payments, we reserve the right to charge your card with all of the missed payments at the same time to bring your plan back up to date.