Buying online with credit.

2min read
Posted 10 April 22

Online shopping comes with various options to buy wherever and whenever, including automatic bank transfers, personal checking accounts, gift card purchases, debit, credit or visa options. While online purchases make things easy, there are several things to be aware of when entering your payment details.
 

Recurring payments.

If you’re paying for a service or a product on a subscription, entering your payment details may sign you up for paid renewal each time. This means an amount is automatically drawn out of your account each month or year. Automatic payments can also begin on free trials, where your credit or banking information is asked for to make an account.

Check your payment details if you don’t want to keep making a regular repayment. Often you’ll have to cancel your subscription online or at the end of a specific timeframe, based on your payment agreement. So it pays to know what you’ve signed.

 

Saving your details.

We strongly suggest you don’t save your card details so that payment goes through automatically every time you click on an item online. Making payments more of a manual process means less risk of accidentally ordering something you can’t return.
 

Overseas and shipping costs.

Often a purchase will seem cheap because its advertised price is in another currency or doesn’t include shipping costs until you get to the payment stage. Make sure to check your payments are set to the correct currency and that you’re not adding on extra interest or transfer costs before you click buy. 

 

Buy now, pay later.

Many online payment options will advertise the price of your item under a buy now, pay later (BNPL) loan, usually in four or smaller repayments. Before you make a decision, read up on our blog on the subject in the yo-library, under ‘Manage your money’.


 

Stop! Disclaimer!

Info and tools on the Yonda website are to be used as a guide only and do not constitute financial advice. Use Yonda as a starting point and then seek professional advice.