Let's say the available credit on your credit card is $10,000.00 and you want to buy cables from us that cost $900.00 using Splitit.
You select a 3 payment plan at checkout which makes each payment $300.00. The total order of $900.00 less the initial payment of $300.00 will be held in reserve on your credit card (but not charged), making your remaining available credit $9400.00.
As each payment is processed for your order, the reserve hold is released in the amount of that payment.
Add the items desired to the shopping cart. Apply any discount coupons that are available at checkout.
Select SPLITIT at checkout. Your first payment will be charged today. Select how many monthly payments (up to 6) that you want in your plan on the next screen.
You get the products right away.
Your credit card is automatically charged monthly until paid in full.
When will I receive my items? You receive your items right away when they are ready for shipment, according to the Time for Orders.
What credit cards can I use for this program? Visa and Mastercard are accepted.
Will the program accept Debit Cards? Sorry, debit cards associated with your bank checking account cannot be used due to the various institutions having different rules for held in reserve amounts.
Can I pay off my balance early? Upon placing your order, you will be provided a login to your customer portal where you can pay off your balance early through the Splitit website.
What if my credit card does not have enough available for the reserve hold? Unfortunately your order will be declined. If when a later charge is processed and there is not enough on your card for the reserve, you will be notified by Splitit to update or change your card.
What happens if my card declines? Splitit will contact you with a way for you to update or change your credit card. Automatic charge attempts will occur over the next 7 days. NOTE: According the Splitit policy, if your card declines 7 times in a row, Splitit will go ahead and charge the remaining reserve that is held. Please contact us
What if I decide to return my product? Your credit card will receive a refund for all the payments that have been made according to our Return Policy. All future payments will be canceled.
Are there any additional fees? No, this is an interest-free payment method with no additional fees, interest or hidden fees of any kind.
Do you do a credit check? Will this effect my credit score? There is no effect on your credit score since no credit check is performed. We simply reserve the amount on your credit card (you will never see it on your bill). Even if one of your authorization payments is declined, there is no effect on credit ratings, it is simply a declined charge.
How are the payments shown on my credit card statement? The installments appear on your statement as individual charge items shown as "Morrow Audio". These payments will appear monthly according to your chosen installment plan, with the same charge amount each time until paid in full.
Can I update or change my credit card that is being charged? Yes, that is done through your customer portal that Splitit provides.