Immediately after checkout, you will see two transactions on your credit card:
1. First Installment Payment
This is a charge for your first installment.
It recurs automatically based on the agreed upon payment schedule.
❌ Cannot be changed: The date or amount of this payment is fixed.
2. Authorization Hold
This is not a charge and will not appear on your credit card bill.
It guarantees your purchase to the Merchant and temporarily holds funds on your card.
Key Details About the Authorization:
⏳ The hold reduces your available credit until released.
In most cases, the hold drops after a few business days, but some banks may hold funds for up to 30 days (or even the full length of your plan). Splitit does not control how long a bank keeps the hold.
✅ The authorization is a required part of paying in installments, as it protects your purchase and allows Splitit to charge future installments automatically.