Splitit Review: How It Works, Fees and Is It Worth It?

Splitit is a buy now, pay later (BNPL) platform that lets you split purchases into installments using a credit card you already have. Unlike many BNPL options, Splitit doesn't require you to apply for a new loan or open a new account. Instead, you can choose a repayment timeframe that fits your budget while continuing to use your existing credit card.

Find out if Splitit could be a good fit for you.

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Key Takeaways

• Splitit is a BNPL platform that runs on your existing credit card, not a new loan. It splits purchases into monthly installments on an eligible credit card you already have, with no new application.

• Splitit places an authorization hold for the full purchase amount upfront. You need enough available credit to cover the whole balance, and the hold shrinks as you pay each installment.

• Splitit runs no credit check and doesn't report payments to the bureaus. That means it won't build your credit, and it can't help if you're trying to establish a payment history.

Summary generated by AI, verified by MoneyLion editors

What Is Splitit?

Splitit is a global BNPL company founded in 2012. The company operates internationally and its platform allows shoppers to split purchases into installments using their existing credit cards, giving consumers flexible payment options without interest.

How Splitit Works

Here’s a look at how Splitit processes purchases and turns them into installment payments.

Installment Structure

Splitit works with your existing credit card. You choose how long you need to make the installment payments. Splitit doesn't add interest or late fees, but your card issuer may still charge interest if you carry a balance month to month.

Credit Hold

Splitit places an authorization hold on the full amount of your purchase. This credit card hold is temporary. Because of the hold, you must have enough available credit when you make the purchase.

Funding and Approval

Splitit checks your available credit on your card to approve your transaction.

Quick Example

If you make a $700 purchase and choose to pay over seven months:

• A $700 authorization hold is placed on your credit card.

• Your first payment is charged immediately.

• Each month, another installment is charged.

• As payments are made, the hold amount gradually decreases.

This means you need enough available credit upfront, even though you’re paying over time.

Splitit Costs and Fees

Splitit generally doesn't add interest or fees to its installment plans. While Splitit itself is interest-free, keep in mind that any balances carried on your credit card are still subject to your bank's standard annual percentage rate (APR) and fee schedule.

Splitit Eligibility Requirements

To be eligible to use Splitit, you’ll need to meet the following requirements:

• Be at least 18 years old

• Have enough available credit on your card

• Shop at a retailer that accepts Splitit

• Have an eligible credit card. Splitit commonly accepts Visa and Mastercard, while American Express, Discover and UnionPay may be accepted, depending on the merchant. Debit cards cannot be used to set up installment plans, but they may be used to pay off the remaining balance in full.

Pros and Cons of Splitit

Before using Splitit, it’s helpful to understand both the benefits and potential drawbacks.

Credit Impact: At a Glance

Splitit does not perform a credit check or report payments to credit bureaus. However, the authorization hold reduces your available credit, which may affect how much you can spend.

Any impact on your credit score typically depends on how you manage your credit card balance and whether you carry a balance over time.

How To Use Splitit

Splitit is simple to set up and use. You can follow these steps:

1. Shop at a retailer that offers Splitit.

2. Add your items to the cart and select Splitit as your payment method at checkout.

3. Choose the number of monthly installments you want for your purchase.

4. Enter your credit card details. Splitit will put a hold on the full purchase amount.

5. Your first installment is charged immediately, and the remaining payments are billed each month.

Splitit vs. Other BNPL Apps

To see whether Splitit is the right fit, it helps to compare it with other BNPL services or explore alternatives like top cash advance apps for smaller, short-term needs.

Splitit vs. Afterpay

Splitit never charges interest or late fees, while Afterpay customers may face a fixed late-payment fee. Splitit also offers more flexible installment options, whereas Afterpay splits purchases into four payments and offers monthly financing.

In addition, Splitit is a smaller company compared with Afterpay, which has a broader merchant network and a stronger presence in markets such as the United States.

Splitit vs. Sezzle

Sezzle is a BNPL platform that splits purchases into installments. Splitit, on the other hand, works more like a credit card management tool that allows shoppers to continue earning credit card rewards.

Sezzle Up may also help build credit because it reports on-time payments to the credit bureaus, while Splitit does not offer the same credit-reporting feature.

Splitit vs. Klarna

Klarna may be a better fit if you want a broader range of payment options and access to a larger merchant network. Splitit works differently by using your existing credit card rather than opening a new financing account.

Splitit may appeal more to shoppers who want to avoid a new credit application and continue earning rewards on their credit cards. Klarna may offer more flexibility in where and how you shop, depending on the payment plan.

Splitit vs. Affirm

Affirm may be a better fit if you want financing that doesn't depend on having enough available credit on your card. Splitit uses your existing credit line and requires enough available credit to cover the purchase authorization.

Splitit may appeal more to shoppers who want to keep using their credit card, while Affirm may offer additional flexibility for larger purchases.

Who Splitit Is Best For

Splitit may be a good option for people in the following situations:

• Those who want to maximize their credit card rewards and points

• Those financing larger purchases

• Those who want to avoid a hard credit pull

• Those who are confident they can pay their credit card bill balance on time

• Those who prefer using existing credit instead of applying for separate financing

Who Splitit Is Not Ideal For

• Those without available credit on a credit card

• Those who want payment rescheduling flexibility

• Those looking to build credit through BNPL apps

• Those who want a BNPL option that doesn't rely on an existing credit card

Final Take

Splitit can be a good fit if you want installment flexibility without applying for new financing. It lets you split purchases across payments using an existing credit card, although you'll need enough credit to cover the authorization hold.

Consumers should try to avoid taking on too much debt in order to maintain healthy finances. However, Splitit can make larger purchases more manageable by allowing shoppers to divide them into installments. As long as purchases stay within available credit limits, Splitit may be a useful BNPL option for one-time purchases.

Shoppers who need smaller amounts of money quickly may also want to compare cash advance options with BNPL services.

Splitit FAQs

Here are answers to common questions about Splitit and how its installment payment platform works.

Is Splitit legitimate?

Splitit is a legitimate BNPL company that works with several reputable merchants. It has received an A+ rating from the Better Business Bureau.

Does Splitit check your credit?

Splitit doesn’t check your credit.

Does Splitit charge interest?

Splitit doesn’t charge interest or fees. However, Splitit charges your credit card and you may have to pay interest or fees on that account.

How does the credit hold work?

When you make a purchase, Splitit puts a hold on your credit card for the total amount. As you pay each month, the hold amount will become smaller.

Can Splitit hurt my credit score?

Splitit doesn’t report your late payments to credit bureaus. However, because Splitit places a credit hold on your credit card, your debt utilization may appear high. Your score may drop temporarily until you pay off the balance.

What credit cards work with Splitit?

Splitit accepts Visa and Mastercard credit cards. American Express, Discover and UnionPay may be accepted, depending on the merchant.

Key Terms

• BNPL: A checkout option that splits a purchase into smaller installments. Most providers issue new financing, but Splitit uses your existing credit card instead.

• Authorization hold: A temporary hold Splitit places on your card for the full purchase amount. It reduces your available credit and shrinks as you make payments, and it isn't a charge.

• Available credit: The unused portion of your credit card limit. You need enough of it to cover the entire Splitit purchase upfront, even though you pay over time.

• Credit utilization: The share of your credit limit you're using. A large Splitit hold can push utilization higher, which may affect your score until the balance comes down.

• Deferred interest: A promotion where interest is waived only if you pay off the balance in time. Splitit's Retail Plans avoid this, but many medical and store cards use it.

• Sezzle Up: Sezzle's opt-in program that reports payment history to the credit bureaus. Splitit offers no equivalent credit-reporting feature.

Summary generated by AI, verified by MoneyLion editors

Sources

• Better Business Bureau. "Splitit USA, Inc."

• Consumer Financial Protection Bureau. 2024. "What is a Buy Now, Pay Later (BNPL) loan?"

David Granahan contributed to the reporting for this article.

Data is accurate as of Sept. 16, 2026, and is subject to change. 

Photo credit: mediaphotos / iStock