Immediately after checkout you will see two transactions on your credit card account.
One is your first installment payment. This is a charge and will recur each month on the same date. The date and amount of this payment cannot be changed.
The second is the authorization, which is a required part of paying in installments. The authorization is NOT a charge and will not be due on your credit card bill. It simply guarantees your purchase to the Merchant and temporarily holds the funds on your card.
Here are a few more details about the authorization:
Remember, this is not a charge, but it will hold the funds on your card and those funds will not be available for other purchases.
In many cases the authorization hold will drop after several business days. However, it is possible your bank may hold the funds up to the length of your plan. Splitit does not control the length of a hold, nor can we get your bank to drop the hold. As it is what guarantees your purchase, and allows you to pay in installments, the hold on your funds is a required part of this type of payment plan.
For some plans the authorization is periodically re-authorized every 18-21 days. The amount of the re-authorization goes down as you make installment payments.
You can find details about your re-authorization schedule in the Plan Creation email from Splitit and by looking in the Splitit Shopper Portal.