Table of Contents
- Tymit Installment plan features
- How to save with Tymit Credit card
- Tymit credit card charges
Tymit is a one of a kind credit card for people looking to take control of spending patterns, let alone avoid hefty interest rates. The availability of multiple installment plans is one of the features that affirms the credit card credentials in the highly competitive field.
Tymit Installment Plan Benefit
Tymit credit card offers the benefit of spreading payments, regardless of transaction size, from three months to 12 months. By spreading payments on equal installments, users can in return access interest rate of between 12% and 22.7%. In addition, Tymit charges interest on individual installment plans rather than the whole credit card balance.
Tymit is a credit card for people who wish to bundle purchases into installment plans to take advantage of different interest rates and spread payments. While traveling to London, you can bundle all purchases made in the great city into one installment plan.
In addition, you do not have to bundle all purchases into one single installment plan. By leaving out other purchases from a given installment plan, one can spread payment into another month, without having to worry about additional fees, let alone interest.
A Tymit mobile app is also on offer with real-time notifications. Through the app, you can categorize spending to make payments on specific purchases while suspending payments on others. Likewise, one can use the app to freeze a credit card in case of theft or misplacement.
Tymit vs. Traditional Credit Cards
Tymit can also be lifesaver when it comes to saving while shopping. With the credit card, it is possible to separate everyday transactions that one can afford to pay, from those that need additional payment time.
For instance, if you bought a Refrigerator costing £1000, some books costing £150, and some necklaces costing £200, you can spread payments. With Tymit Credit card, you can spread payments for the £1,000 Refrigerator to over 12 months as you settle £350 for the necklace and books.
Tymit differentiates itself from traditional credit cards on the fact that it does not charge any membership fee, let alone foreign transaction fees. The only charge you will have to contend with is interest on purchases where payment is spread.
While other credit cards require people to pay a minimum of 1% or £5 on each transaction, Tymit comes with less flexibility. With Tymit credit card, one has to make payments as per the agreed terms of payments per installment. Any late or missed payments could appear on the credit card report, let alone affect the ability to access other credit cards or loans.
Why use Tymit credit card?
Tymit is a credit card for people who are cautious about spending as well as interest rates charged by credit card companies. Installment plans on offer also make it an ideal option for spreading payments over a given period.
Rebecca White is chief editor at CreditRaters.com. Rebecca has an extensive amount of knowledge on financial subjects including short-term loans & debt consolidation in the UK and USA. Rebecca has wrote for many publishers such as Debt Secret, My Money, VL and more.