Splitit lets you use your existing credit card to turn your purchase into smaller monthly installments, with no interest, application, or fees.
When you make your purchase we take your first installment payment.
At the same time we authorize the full outstanding purchase amount and hold it as security. This authorization is held for the full duration of your plan as security and reduces as each monthly installment payment is made.
For this reason, you must maintain sufficient available credit on your credit card for the full outstanding amount of your purchase during the period of the plan.
The held amount might show as ‘pending transaction’ on your credit card statement.