Splitit review: Costs, features and what to be careful of, page-19

I did little research on this one, and Kogan only accept 4 unique credit cards. Yes It gives installment payment with 0% interest, but it comes with cost.

To get a card, you have to pay either yearly fee of 100 dollars or monthly fee of average 5~6 dollars. And each card has different participating merchants, so you need at least 2~3 credit cards in addition to what you already have. which yearly costs are around 150 ~ 200 dollars.

Will you pay for that? Personally, I don't want pay 100 dollars per year for additional credit card because I want an apple MAC computer.

You might consider to cancel your existing one and switch to this one, but these cards don't have much extra benefit (https://www.gemvisa.com.au/visa-offers.html : most of other credit cards have Quantas points or some appealing benefits, but this one looks so lame), so do I want to switch it? NO.

Also it only gives interest free up to 55 days or 12 months maximum, so you have to get extra cards with less benefit for shorter installment period.

I could see them as competitors, but not as threats. Sometime big companies like Visa, Matercard promote installment payment, it could be good for another payment company like SPT , because they don't have to explain merchants why they have to consider installment payment options.

https://www.gemvisa.com.au/credit-card-features/interest-free.html
-> I found one feature (the last screenshot) of this card called 'Buy Now, Pay Later' -> do you think AFTERPAY will sink? I don't think so.




https://www.interestfree.com.au/rates-and-fees.html





https://www.gemvisa.com.au/credit-card-features/interest-free.html