What are credit card installment plans?
Here are the terms and conditions for any installment plan: this feature allows eligible customers to split eligible credit card purchases into 3, 6, 9, or 12 installments after a purchase is completed.
To split your transaction into installments, it must be:
- Purchase equal or above MXN500 (purchases made directly at merchants with your credit card)
- Completed in the billing cycle (the transaction can't be in a 'Pending' state)
- Not a high-risk transaction (such as gambling)
- Transaction needs to be completed 1 day before the end of the billing cycle
Customer eligibility requirements
- Have an active Revolut credit card
- Not be in arrears on any Revolut credit products
- Not be part of any forbearance program in the last 12 months
Fees and limits
There’s no fee for setting up an installment plan. You can cancel or repay the plan early at any time and with no additional fee.
You can have unlimited installment plans, but they can only use up to 80% of your credit limit. Opening a plan doesn't increase your available credit. As you pay off your plans, your available credit limit will restore by the amount repaid.
The principal amount — or the amount of the original transaction you split up — will remain as a reduction in your credit card limit until the installment plan is paid off in full. Interest will accrue on your active installment amount daily, until it’s fully repaid or canceled.
How to set up an installment plan
- Go to 'Home' on the bottom menu
- Below your balance, tap 'Accounts'
- Select your credit card
- Scroll down and select 'Pay in months'
- Tap 'New' in the top-right corner
- Choose an eligible transaction or transactions
- Review and confirm your plan
You can also tap any transaction with the 'Installments available' banner on it and create your installments plan from there.