HOW TO APPLY FOR THE INSTALLMENT FACILITY
The installment facilities provides you with more financial freedom within your credit limit. You decide how much you pay and when. The use of the installment facility is subject to interest charges and a credit check. Credit may be refused if it may lead to overindebtedness.
Following the successful completion of a credit check and activation of the installment facility, you can choose how much you pay each month based on your credit limit: You can choose to pay the minimum amount, the full balance, or an amount between the two. The minimum amount is 3 percent or 5 percent of the balance, depending on the credit card you have, but must be at least CHF 50. For the use of the installment facility, we apply an annual percentage rate (e.g., 12%) to the outstanding balance based on the conditions of your card product. If you do not use the installment facility and pay the full balance on time, no interest will be applied.
Confirmation of installment facility
If you pass the credit check, you will receive written confirmation that the installment facility has been activated along with the credit limit granted to you. If the installment facility is activated, this is indicated at the top left of your credit card statement.
The installment facility provides you with financial flexibility. Nevertheless, we recommend that you plan your expenditure carefully. Should you wish to protect yourself against financial shortfalls in the event of an emergency situation, such as unemployment or total incapacity for work, it makes sense to take outbalance protection insurance. This covers the balance of your credit cards and releases you from the obligation to make installment payments.
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