Amazon expands the ability to purchase products in installments by introducing a new payment solution in collaboration with Cofidis called CreditLine, which opens a private revolving credit line that can also be used for purchases from third-party vendors.
Amazon has already explored the way of payment in installments through a still active method, which however applies only on new products and new and refurbished Amazon devices sold and shipped by Amazon.
This new collaboration with Cofidis embraces the other sales of the store and by third party sellers, not excluding also the items sold and shipped by Amazon.
Credit line for purchases between 100 euros and 1,500 euros
At the time of the payment selection, “CreditLine” will be listed among the choices. After selecting and confirming it, the customer will be redirected to a form on the Cofidis website. We went to look at the Cofidis website and for registration we need a valid driver’s license or passport, the health card and the IBAN.
The application will be evaluated and, according to Amazon and Cofidis, the result will be provided immediately online. Once CreditLine is activated, the customer will have a credit line that can be used indefinitely for future eligible purchases on Amazon.it. However, the credit limit and credit approval will be at Cofidis’ discretion. The credit line will however be in the range between 500 euros and 1,500 euros.
The opening of the relationship will give the possibility to access a dedicated personal area on the Cofidis website to consult the repayment plan and the amount available on the credit line.
Payment by installments through CrediLine will be available for items deemed suitable without distinction of product categories, but to access the credit line the total amount of the items included in the cart must be between 100 euros and 1,500 euros.
Maximum 24 installments and 0% APR until 5 July
Users will be given the opportunity to return the credit used with payment plans of different durations. The minimum amount of each installment is 15 euros, the maximum payment in installments is 24 months. The higher the total amount of the items in the cart, the higher the installment offer made available to the user.
The credit line cannot be used for pre-orders, digital contents, gift vouchers, out of stock products, subscriptions and food products.
In case of return, the policies provided for the seller will be followed. If you are returning an entire order, CreditLine will remain active, no other installments will be paid, and any installments already paid will be refunded by Cofidis. If, on the other hand, you are returning part of an order, the amount of the next installments will be recalculated on the amount of the items that you have decided to keep.
As an offer to launch the service, the APR up to 24 months for purchases from 29 June to 5 July will be 0%. At the end of the promotion, the APR will assume percentage values as defined in the Cofidis page dedicated to CreditLine.
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