SmartPay FAQ: How Inter’s Installment Feature Works

Life doesn’t always follow a perfect schedule. Unexpected expenses appear, opportunities pop up, and sometimes the timing of a purchase doesn’t line up with your billing cycle.

That’s why Inter created SmartPay, a flexible installment feature designed to help you manage larger purchases with more control and predictability.

But how does SmartPay actually work? Who can use it? Are there fees? And what kinds of purchases are eligible?

Below, we’ve answered the most common questions to help you understand how SmartPay works and how it can give you more flexibility with your Inter Passport Credit Card.

1. What is an Installment Plan?

An Installment Plan is a post-purchase financing option that allows you to split eligible Credit card transactions into up to 4 scheduled installment payments.

2. How do I create a new "Installment plan"?

Follow these steps to check your eligibility and create a new Installment Plan: 

• Access the Smart Search screen trough the icon 🔍 
• Search for "Installment plan"; 
• The Smart Search will list the eligible purchases available for an "Installment Plan"; 
• Select how many installments you would like to split the purchase into; 
• Review the summary details and confirm creation of the plan; 
• And that’s it, the Installment amount will be added on top of the minimum payment on your current statement and any subsequent statements until the plan is paid off. The monthly payments will be exhibited in your statement and in the app.

3. How many installments can I split my purchase? 

You can split your purchases into a minimum of 2 and a maximum of 4 installments.

4. Which purchases can I split into an Installment Plan? 

In order for a purchase to be eligible for an "Installment plan" the following conditions must be met:

• You must have made the purchase with your credit card (purchases made with a Debit Card are not eligible);
• The purchase must be on your most current billing statement;
• The value of the purchase must be equal to or greater than $100;
• The purchase can’t be disputed or marked as fraud;
• The purchase can’t already be in an “Installment plan”;
• You must have made at least the minimum payment in the last billing cycle;
• You don’t have more than 2 active installment plans.

Please note: If you already have two active “Installment plans”, you'll need to finish paying for one before you can start a new one. 

Purchases do not include balance transfers, cash advances or cash-like transactions, gaming or betting transactions, or any type of fees.

5. What type of transactions are NOT eligible for an Installment Plan? 

It does not include: 

• Balance transfers, cash advances, or cash-like transactions 
• Betting or gambling transactions 
• Fees of any kind 
• Purchases that are disputed or claimed as fraudulent 
• Purchases already included in an existing installment plan 
• Purchases from a closed billing cycle 
• Purchases made with a debit card 
• Purchases less than $100

6. How will my balance and APR work when an installment plan is utilized? 

Let’s say you have a $2,000 balance on your credit card. If you put a $500 purchase —that’s already included in your current statement—on an installment plan, here’s how the plan works:

Current Balance: Your current balance will remain $2,000 and reflect the $1,500 regular purchase amount plus the installment plan amount of $500.

Installment Plan: You’ll pay off the $500 purchase in 4 fixed monthly payments. There are no fees or interest charges for splitting your purchase—as long as you make your payments on time. If you happen to miss a due date, there will be applicable late fees to your monthly payment according to your Credit Cardholder Agreement.

Monthly Payments: Each month, until the plan ends, your minimum payment due will include the $125 installment payment (for the $500 plan), along with the minimum payment required for your remaining regular purchase balance.

7. Is a new credit check necessary to create an Installment plan?  

No, there is no need for a new credit check when you create an "Installment plan." It will use the Credit card limit that’s already available to you.

8. What happens if I pay more than my Adjusted Balance? 

If you pay more than your Adjusted Balance, any overpayment amount will be applied to your new charges or outstanding balance, reducing your current balance. 

Please note: overpayments do not cover future monthly payments—you will still be required to make at least the minimum payment due each month.

9. What if I have an active Installment Plan? 

You are allowed to do that, but it does not mean your plan will be paid off early. If you have other active installment plans, the extra amount will be applied towards lowering the overall total balance on the credit card in general and not specifically to any single 

installment plan.

10. What happens if I miss the due date or make a late payment? Will I pay a late fee? 

If you happen to miss a due date, you should pay as soon as possible. There will be applicable late fees according to your Credit

11. What are the benefits/advantages of using the Installment Plan option? 

• No fees – There are no fees for using the Installments Plan, as long as you pay your monthly statement on time. 
• No new credit check - Creating an "Installment plan" will use your existing credit line. 
• Payment flexibility - Spread your purchase into smaller, manageable monthly payments. 
• Improved budgeting - "Installment plans" make it easier to manage your monthly expenses and cash flow. 
• Transparency - You’ll see your monthly installment payment amount and remaining balance clearly displayed in your statements and in the app.

12. Which interest rate will I pay when splitting my purchases into an installment plan? 

There will be no fees when you split a purchase using the Installments Plan.

Missed monthly installment payments may be subject to the default penalty rate in accordance with your Credit Cardholder Agreement.

With SmartPay, managing larger purchases becomes simpler, clearer, and more predictable helping you stay in control of your monthly budget without extra fees or surprises. Ready to make your spending more flexible?

Explore SmartPay in your Inter app and start splitting eligible purchases today.