Float's replyOfficial
11 Oct 2023, 17:49Hi Tsebo,
Thank you for leaving feedback about Float, although we are concerned to note your comments.
As Float works with your existing credit, and doesn’t issue you new credit, the reserve helps us determine whether you have the full purchase amount available in your balance to make the purchase. In order for our service to remain completely interest-free and fee-free, we need to ensure that our shoppers can meet their repayment commitments for their purchases.
Float helps you to manage your cashflow by only charging your credit card for a single interest-free instalment each month, as opposed to charging you the full amount up-front like a regular credit card transaction. In short – we buy you all the time in the world to settle your credit card balance.
Should you need any assistance regarding your instalment plan, please don't hesitate to reach out to our support team at ***, we're always here to help.
Kind regards,
The Float Team
Best regards,