How to pay in installments for Prime Day 2022 products
The solution is called CreditLine and is obviously subject to the approval of Cofidis S.p.a .. The loan can be between a minimum of 100 euros and a maximum of 1500 euros. Furthermore, it is possible to reuse CreditLine for subsequent purchases in a few clicks thanks to the credit line received: it is called the Privative Revolving Credit Line.
In practice, if one day you decide to buy a smartphone in installments, in the others to follow it would be possible to make other purchases using the credit line activated but with slightly more onerous conditions. The principle also applies during the days of Amazon Prime Day.
How the CreditLine installment payment works
The ecommerce group confirms that a simple procedure has been implemented to obtain payment to installments, but it should be noted that not all products are suitable. For example, orders containing Amazon.co.uk Gift Cards, digital products (music, videos, Kindle books, game or application downloads), most presale products, out of stock products or subscriptions (including Amazon Prime) are not compatible. ) and food products.In any case, having composed your shopping cart for a value between 100 and 1500 euros, it will be sufficient to select CreditLine as a payment method. Exactly in the order summary you will need to click on the Change item in the Payment Methods section. If it is not present, it is because some product is unsuitable.
Then you will be directed to the specific Cofidis web page and you can choose the combination of amount and number of installments preferred. In this sense, it is good to remember that it is possible to pay in installments on Amazon.it in 3, 5, 6, 10, 12, 18 or 24 months. The minimum amount of each installment is 15 euros. For example, for an order of 150 euros, you can choose between 3, 6 or 10 installments.
At that point you will be asked to fill in the application with your data and once uploaded you will get an immediate response. Upon receipt of the approval by Cofidis, the amount due will be debited directly from the customer's current account in monthly installments - a prepaid or other system cannot be used.
Cofidis will send the debit request to the bank two days before the payment of the first installment. This will be charged on the first day of the month and after at least 25 days have elapsed from the date of shipment. In this way there will be no risk of finding yourself paying for an item that has not yet been received or perhaps that has gone out of stock or has been renounced.
What documents must be provided
During the registration procedure and the compilation of the request, a series of data will be requested and the uploading of photos of some documents. Specifically, you must have an identity card or passport issued by Italian authorities, a health card and an Italian IBAN. It is also necessary to have a demonstrable income. Each document can be uploaded in digital form: the photo taken via smartphone will suffice.Interest rates applied
In loans, interest rates are always declined in TAN and APR, which are respectively the nominal interest rate and the synthetic index of the total cost. Advice? The APR is what really matters since it also adds expenses to interest.Assuming the purchase of a smartphone of 200 euros, the loan in 6 installments will include 5 installments of 34.52 euros plus a final installment from 34.54 euros. With the total amount due € 207.14 in practice, the TAN will be equal to 0% and the APR equal to 12.84%. "In case of first use, the amount of the first installment will be increased by the substitute tax equal to 0.25% of the amount of the credit granted", emphasizes Cofidis. The latter is due, is not refundable in case of cancellation and cannot exceed 3.5 euros.
The only detail to keep in mind is that these conditions will be applied only and exclusively to the first single use . Note for the purchase of one or more goods in the same session. If, on the other hand, you decide to take advantage of the credit line at other times, TAN and APR change and rise to 17.25% and APR 19.26% respectively.
For example, if you buy one in the promotional period smartphone from 500 euros the APR applied will be 12.84%, so it will be necessary to pay 564.2 euros in installments. If in a subsequent session you buy another 500 euro smartphone, the APR of 19.26% will be triggered and you will have to pay 596.3 euro in installments. In summary, the first single use is the most advantageous regardless of the number of products chosen.
