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Splitit VS Splittable

Compare Splitit VS Splittable and see what are their differences

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Splitit logo Splitit

Splitit is a solution that enables consumers to pay for their Retail or Web purchases using their existing credit cards and divide the total cost across as many interest-free payments as they choose, without completing a credit application or qualif…

Splittable logo Splittable

Shared living made simple
  • Splitit Landing page
    Landing page //
    2023-09-24
  • Splittable Landing page
    Landing page //
    2023-07-29

Splitit features and specs

  • Interest-Free Payments
    Splitit allows customers to pay in installments without charging any interest, making it an attractive option for those looking to spread costs over time.
  • No Credit Check
    Splitit does not require a credit check to use its services, which can be beneficial for individuals who have a limited credit history or want to avoid impacting their credit score.
  • Easy Integration
    For merchants, Splitit offers easy and seamless integration with their existing payment systems, allowing them to offer flexible payment options to customers without significant technical overhead.
  • Increase in Sales
    By offering a payment plan, Splitit can potentially increase sales for merchants as customers are more likely to make larger purchases when they can spread out payments.

Possible disadvantages of Splitit

  • Credit Card Requirement
    Customers must have a credit card with sufficient available credit to cover the full amount of the purchase, which might restrict some users from using the service.
  • Hold on Credit Amount
    While using Splitit, the customer's credit card will have a hold placed on the full amount of the purchase, potentially reducing their available credit.
  • Limited Market Presence
    Splitit's availability might be limited depending on the region, meaning not all merchants or customers can access its services globally.
  • Dependence on Card Issuers
    The service's operation depends on agreements with card issuers and networks, which may create dependency issues if partnerships change or end.

Splittable features and specs

  • Bill Splitting
    Splittable simplifies the process of splitting bills among flatmates, reducing potential conflicts and ensuring everyone pays their fair share.
  • Expense Tracking
    The platform provides tools for tracking shared expenses easily, helping users manage and review their spending.
  • User-Friendly Interface
    The application offers an intuitive and easy-to-use interface which makes it accessible to users with varying levels of tech-savviness.
  • Integration Options
    Splittable allows for integration with other financial tools and apps, offering enhanced functionality and convenience for its users.

Possible disadvantages of Splittable

  • Limited Feature Set
    Compared to some competitors, Splittable may offer a more limited set of features, particularly for users looking for comprehensive financial management tools.
  • Potential Privacy Concerns
    As with any financial app, users may have concerns regarding the privacy and security of their financial data.
  • Paid Features
    Some advanced features or functionalities might be available only through a paid subscription, which could be a drawback for users seeking free services.
  • Dependency on Internet
    Users need a stable internet connection to access Splittable, which might be a downside in areas with unreliable connectivity.

Analysis of Splitit

Overall verdict

  • Splitit is considered a good option for those looking to split payments without taking on additional debt or interest. The service can be especially appealing to consumers who want to budget for larger purchases without impacting their credit rating. However, it's important to ensure that the merchant you're purchasing from supports Splitit.

Why this product is good

  • Splitit offers a unique payment solution that allows consumers to pay for purchases over time using their existing credit cards, without incurring interest or fees. This can be beneficial for managing cash flow and making larger purchases more affordable. Additionally, because Splitit's method doesn't involve opening a new line of credit, it avoids affecting the user's credit score.

Recommended for

  • Consumers who prefer interest-free payment plans
  • Individuals looking to manage cash flow efficiently
  • Shoppers who want to avoid impacting their credit score
  • People making larger purchases who prefer to spread the cost over time

Splitit videos

+ Add

SPLITIT GOES GLOBAL WITH MASTERCARD DEAL 💳

More videos:

  • Review - 3 PROBLEMS with buy now pay later. Afterpay, Zip Pay, Splitit etc.
  • Review - How Does Splitit Work for Shoppers?

Splittable videos

No Splittable videos yet. You could help us improve this page by suggesting one.

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Category Popularity

0-100% (relative to Splitit and Splittable)

Splitit

Splittable

Business & Commerce
100 100%
Business & Commerce
0% 0
Personal Finance
0 0%
Personal Finance
100% 100
Online Payments
100 100%
Online Payments
0% 0
Expense Tracking
0 0%
Expense Tracking
100% 100

User comments

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What are some alternatives?

When comparing Splitit and Splittable, you can also consider the following products

Sezzle - Sezzle is a digital payment platform designed to help shoppers manage their financial futures with great ease.

Splitwise - Splitwise is a free tool for friends and roommates to track bills and other shared expenses, so that everyone gets paid back. On the web, iPhone, and Android!

Affirm - Pay at your own pace. When you buy with Affirm, you always know exactly what you’ll owe and when you’ll be done paying.

/Tab - The simple way to split a bill among friends.

PayPal Credit - PayPal Credit provides financing options to businesses.

Dinngo - Splitting payments the fun and easy way

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