Your first Pay in 4 installment is charged on the same day we pay your bill — and usually includes more than just the 25% installment amount.
Here’s how it works, and what to expect.
Step 1: Your available balance
When you're approved for Pay in 4, we assign you an available balance — for example, $400. This is the amount Deferit can contribute toward eligible bills.
Step 2: Your upfront payment
To get started, you’ll need to pay 25% of the bill amount upfront.
Example:
If your available balance is $400 and you're paying a $400 bill:
- You’ll pay $100 upfront (25%)
- We cover the remaining $300, which you repay in the next 3 installments
Step 3: What’s included in your first payment
Your first charge typically includes:
- 25% of the bill amount
- Your monthly membership fee (e.g., $14.99 for Lite)
- A $0.99 card processing fee
Example:
If you're a Lite member and using your full $400 balance, your first payment will be:
- $100 (25% of $400)
- + $14.99 (membership)
- + $0.99 (processing fee)
- = $115.98 total
Additional details
- Transaction cap: There’s a $600 limit per Pay in 4 transaction
- Paying over your balance: If your bill is larger than your balance, you’ll need to pay the extra upfront
Example: A $500 bill with a $400 balance = $100 extra upfront - Security deposit: Some users may be asked for a one-time refundable deposit before starting Pay in 4
Bottom line
You’ll always be charged your first Pay in 4 installment on the day your bill is paid, along with your membership and processing fee.
We’ll show you the full breakdown before you confirm — so there are no surprises.