Your end of month bill at Tymit works just like your end of month minimum payment to more traditional credit cards.
You must pay all of your end-of-month bill on the 7th of every month, just like you would a minimum payment with a different credit card.
Your end-of-month bill is every transaction made up until the 25th of the month that has just passed. We calculate what you must pay on the 7th by adding up all these transactions and dividing by the instalment plans you have chosen in the app.
You can reduce your end of month bill (or Tymit minimum payment), by putting your purchases into instalment plans and spreading the costs.
Therefore, by changing your instalments – you choose your minimum payment!
If you don’t choose an instalment plan for a transaction, you’ll have to repay the full amount of that transaction. This can lead to paying the full bill at the end of the month.
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