Splitit Review: What You Need to Know


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Quick take: Splitit’s services allow consumers to split their purchases into more manageable installments through their regular credit cards. It encourages sound management of major expenses without going into irresponsible debt or falling into bad spending habits.

  • Costs
  • Payment terms
  • Credit card functionality
  • Loyalty systems

How did we calculate this?


  • No interest or late fees
  • Credit card compatibility
  • Encourages responsible spending
  • Pay up to 24 times

The inconvenients

  • A limited number of traders
  • No rewards system

What is Splitit?

Splitit is a global buy now, pay later solutions company that was founded in 2012. The company has offices in the United States, Australia, United Kingdom, and Japan, but operates globally. Its mission is to meet the wants and needs of consumers with appropriate interest-free payment terms.

What does Splitit do?

Splitit allows customers to dictate payment plans by splitting purchases into installments. The customer then chooses the period that suits him to reimburse with his bank card. Splitit partners with the world’s largest payment providers, including Visa, Mastercard, Discover, and Union Pay, so customers can use their credit cards for payments.

What websites use Splitit?

Splitit mainly partners with companies in the furniture, luxury, fashion, sports and beauty industries. Its range of partner merchants include Sundays, MyProtein, Milano Collection, Echelon, Time Pieces International and more. Splitit also recently partnered with Wix to integrate its services for online business owners who want to add payment plans for customers.

This adds to Splitit’s existing list of e-commerce website builders and digital storefront managers who have integrated with its payment solution. Some of the multinational companies that offer the use of Splitit’s services include, but are not limited to:

  • WooCommerce
  • Salesforce Commerce Cloud
  • BigCommerce
  • Shopify
  • Magento

Is Splitit a good idea?

Consumers should aim to avoid taking on too much debt to stay on top of their finances, but Splitit helps manage purchases that match a customer’s needs. If a customer wants to make a large one-time purchase, Splitit’s buy it now plan makes it much easier to manage. As long as a consumer is not spending over their credit limit, Splitit is a good buy-it-now, pay-later option.

Main characteristics

Four key characteristics are considered in the overall use of buy now, pay later vendors.


Splitit does not charge interest fees or late fees. There are also no fees associated with prepayment. If a customer wishes to pay earlier, they can do so through the Splitit customer portal. All refunds are in the currency of the original transaction, so no currency exchange fees apply either.

However, charges associated with the terms agreed with a consumer’s credit card provider will still apply, for example, in the event of late payment.

Payment terms

Splitit offers several options for payment terms. If the merchant partner accepts it, customers can choose to pay in 3 months, 6 months, 12 months or even 24 months.

Credit card functionality

Splitit facilitates all approved credit cards within its partner network, including Visa, Mastercard, Discover, and Union Pay. By simply tapping into existing available credit, Splitit seamlessly integrates with a consumer’s existing credit cards, helping consumers manage their purchases efficiently without spending beyond their means.

Splitit integrates with these providers so consumers can still claim associated rewards such as points, frequent flyer miles, and cash back provided by their credit cards. However, Splitit is currently not available for debit cards.

Loyalty systems

Splitit offers a downloadable customer retention toolkit on their website. It is aimed at companies looking to retain their customers rather than their own customers. Currently, Splitit does not offer any rewards or loyalty programs, although it partners with credit card providers so its customers can still earn the rewards offered by their credit cards.

How exactly does Splitit work?

Splitit requires customers to maintain a line of credit on their cards that matches the full value of the purchase made at any one time. This ensures customers have the means to repay credit on time and encourages them not to spend more than they can afford.

Following a first purchase where the first payment is made, monthly repayments will be due on the corresponding date of each month. Customers can continue to use their credit cards as usual once these requirements are met.

How does Splitit make money?

Rather than imposing additional costs on the consumer, Splitit makes money by charging its partner merchants a fee for its service. By working with existing credit card companies, he doesn’t have to chase customers for interest payments or late fees. Responsibility for any risk of default rests with the card issuer, not Splitit.

Who can use Splitit?

Anyone with a Visa, Mastercard, Discover or Union Pay credit card can use Splitit.

In which countries is Splitit available?

Splitit is supported by merchants in major economies around the world, including the United States, Canada, Europe, Australia, New Zealand, and parts of Southeast Asia and Latin America.

Does Splitit check credit?

Splitit does not require any credit checks. It simply ensures that customers have available credit for the full purchase on their credit cards and splits the payment into installments due on a monthly basis. It also saves the hassle of filling out lengthy application forms.

Does Splitit affect credit scores?

Although using Splitit does not directly affect a consumer’s credit rating, missing payments can still result in penalties from the consumer’s credit card provider.

How is Splitit different from Afterpay?

Splitit differs from Afterpay in five main ways:

  • Costs: Splitit never charges interest or late fees, while Afterpay customers incur fixed penalty fees for late payment.
  • Payment terms: While Splitit offers several installment options, Afterpay only offers three or four repayment installment plans.
  • Credit card functionality: Splitit works with four different credit card providers and taps into existing consumer credit cards. Afterpay also works with US credit cards, as well as debit cards, American Express® cards and checking accounts.
    • Afterpay also offers its own credit card, which includes benefits for timely refunds.
  • Loyalty systems: Although Splitit does not offer a loyalty program, Afterpay operates a program known as Pulse Rewards, which awards points to customers for responsible payment practices such as on-time payments.
    • If a user accumulates a certain number of points, they are appointed to a designated loyalty level. Benefits include discounts, early access to merchant sales, and no upfront payment requirements.
  • Cut: Splitit is a relatively small company compared to Afterpay, and Afterpay has a more dominant presence with merchants in certain geographic regions, such as the United States.
    • While both companies are connected to big e-commerce players such as Shopify, BigCommerce, Salesforce, and Wix, Afterpay is more widely available than Splitit. As a result, Afterpay can reach a wider audience, while Splitit customers are limited to fewer options.

Final take

Credit cards can be a great way to build up credit scores, earn money, increase purchasing power, and better control overall finances. However, extending credit too far can lead to high fees, over-indebtedness, compromised creditworthiness, and difficulty in achieving attractive rates in the future.

For consumers with strong financial habits that are usually above their personal finances, Splitit is a good option to manage their purchases in a healthy way. Once payments are made on time, it is an interest-free option that consumers can take advantage of. Ensuring credit is available before purchase helps consumers avoid bad debts on their credit cards and helps them budget more appropriately for their circumstances.

Editorial Note: This content is not provided by Splitit. Any opinions, analyses, criticisms, ratings, or recommendations expressed in this article are those of the author alone and have not been reviewed, endorsed, or otherwise endorsed by Splitit.

About the Author

David is a Qualified Financial Advisor (QFA) in the Republic of Ireland. He holds a bachelor’s degree in commerce and entrepreneurship, as well as over 5 years of investment experience.


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