Pay zero interest and zero hidden or late fees. No credit check required either. Credit limits may be limited.

Splitit is an interest-free payment solution that lets you make purchases with your debit or credit card, and then split the cost of your purchases over monthly repayments. Unlike other buy now pay later providers, you don’t need to be approved for a line of credit and you can use your existing Visa or Mastercard debit or credit card. Credit limits for debit cards are limited to $400, with a term of 3 months. Although they don’t charge interest, ongoing or late fees for both debit and credit cards, with credit cards, you may be charged interest or charges by your card issuer.

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How does it work?

You can choose Splitit as a payment option at the point of sale when using an existing credit or debit card. Splitit seeks authorisation from the card company to reserve the total purchase amount on your line of credit or debit card. You can then choose how many instalments you want to use to repay the cost of the purchase and these are then taken from your card once a month.

If you're using your debit card, you can make purchases of up to $400 and choose to repay the purchase in up to 3 instalments. You can split your purchase into up to 36 instalments if using a credit card. You don't pay any interest on your purchase and don't pay any ongoing or late fees. You're asked to provide your email at the point of sale and will then be given login details for the Splitit consumer portal so you can track your instalments.


James wishes to purchase a TV for $500 using Splitit. At the point of sale, he chooses Splitit and opts to repay the purchase over five instalments using his credit card. The full purchase amount ($500) is held against his credit limit and the first instalment of $100 is taken from the account. The next month, the remaining $400 is reserved against the credit limit and the next instalment of $100 is charged. This is repeated until all instalments have been paid.

Features of Splitit payments

  • Interest-free payments. You don't pay any interest on your purchases.
  • Flexible monthly payments. You can choose how many instalments you wish to use to repay your purchase.
  • Multi-card payments. You can choose to split instalments over multiple cards if you don't have a high enough balance on one card.
  • Instant approval. There is no application process and instalments are taken from your existing credit or debit card.
  • No hidden or late fees. Along with no interest charges, there are also no late or hidden fees.
  • No credit check. You can simply use your existing credit limit or debit card.
  • Credit card benefits. You can continue to collect points and rewards on your credit card when using Splitit.

How much does it cost?

You don't need to pay any interest or any late or hidden fees. Splitit charges the merchant a fee for every instalment, but this doesn't need to be covered by the customer.

While there are no fees or charges for using Splitit, there are some potential associated costs you will need to keep in mind. As the instalments are automatically taken from your account each month, you will need to be aware of your ongoing balance and avoid overspending. If a payment is due, but your account doesn't have the required funds, you could end up overdrawn on your credit card or debit account, which may result in you paying additional fees or charges, depending on your lender.

How to sign up with Splitit

Splitit has no application or sign-up process and is simply offered as a payment option at participating vendors. If you have a valid Visa or Mastercard credit or debit card, you can select Splitit at the point of sale and then choose the number of instalments.

Frequently asked questions

Can I pay off my instalments early?

Yes, you can choose to make early repayments by using the Splitit portal or contacting customer support.

Can I use a different card provider?

Unfortunately, as of February 2019, Splitit only supports Visa and Mastercard. Some merchants may also only accept payment from credit cards.

How does Splitit affect my credit score?

Splitit doesn't have any impact on your credit score, even if one of your payments is declined.

Can I track my instalments on my card statement?

You will be able to see each instalment payment on your statement, as well as the authorisation for the remaining balance on your purchase.

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