In addition to your monthly installment payments there is also an Authorization to guarantee your purchase. An authorization for the full purchase amount is put on hold/reserved upon plan creation. This is not a charge.
- For most plans the authorization will disappear within 30 days or less of your purchase.
- For some plans the authorization will be periodically re-authorized (at lower amounts as you make installment payments) until your plan is complete.
- The length of these authorizations is determined by your bank or credit card provider, so contact your financial institution directly for questions.
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These authorizations temporarily reduce the amount of credit available, but again, are not a charge, and are required to guarantee your full purchase amount.
You can check the details of your plan, update your credit card (if needed), make additional payments, and whether a re-authorization is due (when and for how much), in the Splitit shopper portal.
There are some variations to the above, depending on the Retailer you purchased from and the plan options they’ve made available to their customers.
To see exactly how your plan works, log in to the shopper portal and under ‘Plan Details’ click on ‘How Splitit Works?’. This will take you to a detailed explanation of your particular plan.