Paying your credit card bill in instalments

Instalment Facility

The Instalment Facility allows you to pay your outstanding amount in monthly instalments. This gives you more flexibility and financial room to manoeuvre. However, it also means you pay interest.

A Flexible Withdrawal period of four years

With the Instalment Facility you can make flexible use of your spending limit. You can use, redeem and re-use your Instalment Facility Card for up to 4 years, whenever you wish. The minimum monthly redemption amount is 2.5% of your spending limit. After 4 years your flexible Withdrawal period comes to an end and you are only required to repay the amount due.

Responsible use

The Instalment Facility is suitable for relatively small purchases that you repay within a few months. This could be ordering airline tickets or buying a new laptop or washing machine. The facility is not intended for major expenses such as renovating your home or buying a car or caravan.

Interest when you pay in instalments

The Instalment Facility is a form of credit: a loan. You pay 10% interest on the outstanding amount on an annual basis. The interest percentage is variable, which means we can change it any time. We’ll always notify you in advance when it changes.

We calculate the interest per day and charge you per month, which means the amount of interest can vary each month. If you have the Instalment Facility, you can still pay back the outstanding amount in full within 21 days, then you do not have to pay interest.

Each month you have to pay back the minimum amount. This is 2.5% of the spending limit. If you added the option of paying in instalments before 29 October 2019, you will need to pay back 2.5% of the outstanding balance monthly.

Example calculation

You have a spending limit of	Yearly Fee Creditcard	Interest % on annual basis	APR	Interest you pay with your first repayment	You pay a minimum per month _{(2.5% of the spending limit)}
€1,000.00	€20.40	10%	13.71%	€7.97	€25.00

Annual Percentage Rate of Charge (APR)

This example calculation is the Annual Percentage Rate of Charge (APR). The APR is a way the government has devised for you to be able to see the cost of credit. You can find it on the websites of all Dutch lenders, and this allows you to compare different offers.

See your costs in Creditcard Online

The APR example calculation assumes that you make the minimum repayment and make no new purchases for the period of repayment. This almost never happens. So you can see the APR as an example, to give you an idea. In Creditcard Online, you can see the actual costs.

Repaying your outstanding balance faster

It’s always possible to pay more than your minimum monthly repayment, either in Creditcard Online or the ICS App for ABN AMRO creditcards.

Paying extra in Creditcard Online

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Terminating the Instalment Facility

Terminate by phone, email or letter

You can always cancel the Instalment Facility. There are three ways to do this:

Call the Service Desk: +31 (0)20 660 06 76.
Send a message using the Contact Form. Choose ‘Using the credit card’ as the subject.
Send a letter by post. Our address is:

International Card Services BV
Wisselwerking 58
1112 XS Diemen

What happens next and how long does it take to terminate the facility?

Once the Instalment Facility has been terminated, you have to repay the outstanding amount within 21 days. As soon as your balance is €0, the Instalment Facility stops and the Credit Registration Office (Bureau Krediet Registratie, BKR) is informed.

Termination due to a mortgage application and registration with the Credit Registration Office

Sometimes you have to repay loans before you can apply for a mortgage. The Instalment Facility is also registered as a loan with the Credit Registration Office (Bureau Krediet Registratie, BKR). If you’re buying a house, you don’t need to cancel your credit card. You only need to terminate the Instalment Facility and repay the outstanding amount.

Cancelling a joint card with an Instalment Facility

If your partner has also signed up for the Instalment Facility and one of you no longer wants to keep it, then unfortunately you will have to cancel the card. This is because the loan is based on your joint income, so it wouldn’t be responsible of us to allow it to be used by just one person. If you cancel your joint card, we’ll help you apply for a new card as quickly as possible.

If we terminate your Instalment Facility

We can also terminate your Instalment Facility in certain circumstances, for example, if your financial situation changes, and it would no longer be responsible of us to offer you a loan.

Looking for information on:

Customer Service

Contact us

Phone number

We can be contacted by telephone
7 days a week, 24 hours a day
Contactform

Send an e-mail via our contactform in Creditcard Online.
Postal address

Postbus 23225, 1100 DS Diemen