CH
Claire H
1 reviews | Active since Dec 2016
18 Dec 2025, 09:22
Reserve amount defeats the object of FLOAT
Why have a reserve amount? What an infuriating process I have to wonder if the banks and FLOAT based their business model on penalties, bounced payments and your misery! If you don't have the FULL AMOUNT of the purchase price - your payments bounce and the banks score fees and I don't even know what the penalty was from them. This is why we use flexible finance options. For those who do NOT have that amount upfront. Sure, we all know how to budget and not spending money you don't have is sound advice but that is not why we need flexible finance. Will never use float again.
Helpful (0)
Replies (1)0
Replies (1)
Float's replyOfficial
18 Dec 2025, 10:17Hi Claire,
Thank you for your feedback. We’re very sorry to hear about your frustrating experience and that Float didn’t meet your expectations.
Float is a platform that lets you split purchases into up to 24 interest-free, fee-free monthly instalments, using your existing Visa or Mastercard credit card. To clarify, the core benefit of Float is that it allows you to make big purchases without being charged the full amount upfront, which gives you time to manage your credit card repayments instead of dipping into your cash. While we do reserve the full amount on your credit card, only the first interest-free instalment is charged.
A reserve (also known as a pre-authorisation) is a hold against the credit you have available to spend on your credit card. It is not a charge and is completely interest-free. This ensures you don’t overspend on your card and helps you to meet your instalment repayments.
We make sure to explain this process in detail in our "How it Works" pop-up, the instalment schedule at the time of purchase, follow-up emails, and on our website. The goal is to ensure that you can manage your finances easily without taking on any new credit or facing additional charges.
We are disappointed to hear your experience but value your feedback. If you have any further concerns, please reach out to us on *** so we can adequately assist you.
Regards,
The Float Team
Thank you for your feedback. We’re very sorry to hear about your frustrating experience and that Float didn’t meet your expectations.
Float is a platform that lets you split purchases into up to 24 interest-free, fee-free monthly instalments, using your existing Visa or Mastercard credit card. To clarify, the core benefit of Float is that it allows you to make big purchases without being charged the full amount upfront, which gives you time to manage your credit card repayments instead of dipping into your cash. While we do reserve the full amount on your credit card, only the first interest-free instalment is charged.
A reserve (also known as a pre-authorisation) is a hold against the credit you have available to spend on your credit card. It is not a charge and is completely interest-free. This ensures you don’t overspend on your card and helps you to meet your instalment repayments.
We make sure to explain this process in detail in our "How it Works" pop-up, the instalment schedule at the time of purchase, follow-up emails, and on our website. The goal is to ensure that you can manage your finances easily without taking on any new credit or facing additional charges.
We are disappointed to hear your experience but value your feedback. If you have any further concerns, please reach out to us on *** so we can adequately assist you.
Regards,
The Float Team
Best regards,
Float's reply18 Dec 2025, 10:17
Official
Hi Claire,
Thank you for your feedback. We’re very sorry to hear about your frustrating experience and that Float didn’t meet your expectations.
Float is a platform that lets you split purchases into up to 24 interest-free, fee-free monthly instalments, using your existing Visa or Mastercard credit card. To clarify, the core benefit of Float is that it allows you to make big purchases without being charged the full amount upfront, which gives you time to manage your credit card repayments instead of dipping into your cash. While we do reserve the full amount on your credit card, only the first interest-free instalment is charged.
A reserve (also known as a pre-authorisation) is a hold against the credit you have available to spend on your credit card. It is not a charge and is completely interest-free. This ensures you don’t overspend on your card and helps you to meet your instalment repayments.
We make sure to explain this process in detail in our "How it Works" pop-up, the instalment schedule at the time of purchase, follow-up emails, and on our website. The goal is to ensure that you can manage your finances easily without taking on any new credit or facing additional charges.
We are disappointed to hear your experience but value your feedback. If you have any further concerns, please reach out to us on *** so we can adequately assist you.
Regards,
The Float Team
Thank you for your feedback. We’re very sorry to hear about your frustrating experience and that Float didn’t meet your expectations.
Float is a platform that lets you split purchases into up to 24 interest-free, fee-free monthly instalments, using your existing Visa or Mastercard credit card. To clarify, the core benefit of Float is that it allows you to make big purchases without being charged the full amount upfront, which gives you time to manage your credit card repayments instead of dipping into your cash. While we do reserve the full amount on your credit card, only the first interest-free instalment is charged.
A reserve (also known as a pre-authorisation) is a hold against the credit you have available to spend on your credit card. It is not a charge and is completely interest-free. This ensures you don’t overspend on your card and helps you to meet your instalment repayments.
We make sure to explain this process in detail in our "How it Works" pop-up, the instalment schedule at the time of purchase, follow-up emails, and on our website. The goal is to ensure that you can manage your finances easily without taking on any new credit or facing additional charges.
We are disappointed to hear your experience but value your feedback. If you have any further concerns, please reach out to us on *** so we can adequately assist you.
Regards,
The Float Team
Best regards,