1. Can I do an online purchase with instalments?
Yes, if the website offers their customers to pay with Radgreiðslur Borgunar, you can make a payment with instalments. The process is very simple, efficient and paper-less.
2. When will my card be charged?
Your credit card will be charged between the 15 - 26th in the month before each due date. For example if the deadline of the payment is 2nd of December then your card will be charged between 15-26th of November. Then you pay your credit card bill on the 2nd of December. If we cannot charge your credit card before the 27th of each month an invoice will be created in your online bank.
3. Why do I have an invoice from you in my online bank?
When we cannot charge your credit card we send you an invoice to your online bank. The invoice will have a due date on the respective due date (2nd of each month). Loan takers can choose to get a text message on the loan/instalment web (Radgreiðsluvefur) when the charge on the credit card was unsuccessful.
4. When does the instalment go to collection agency (Momentum)?
If an invoice has not been paid 18 days past the due date the invoice will be sent to a collection agency.
5.Why has my instalment application been declined?
You can gather information about your instalment application in the top left corner on the loan/instalment web under “Raðgreiðsluheimild”. There you can also monitor all your contracts and choose what notifications you receive.
6. Where can I update my credit card on my instalments?
You can either contact our Customer Relations team at +354-560-1600 or at firstname.lastname@example.org and we will assist you.
7. Where can I do a down payment on my loan/instalment?
You can make a down payment or pay up the loan in full anytime you want on our loan/instalment web with either a Debit or Credit card. Click here to learn more!
8. Can I raise my credit score?
Your credit score is determined from your credit score in CreditInfo and is transferred over to SaltPay/Borgun loan frame. Unfortunately, it is not possible to raise the loan credit score.
9. Where can I access my contract and instalment plan?
You can access it on the instalment/loan web (Raðgreiðsluvefur) under “Stöðuyfirlit”
10. Where can I look at my instalment credit?
You can access that under “Raðgreiðsluheimild” on the instalment/loan web (Raðgreiðsluvefur) in the top left corner. There you can also look at the status of all contracts and choose what notification you want to receive.
11. How does the grace period work?
The grace period is the period from the due date of the invoice until it is sent to the collective agency. You must contact our Customer Relations team to list your instalment to a grace period. As these instalments are connected to your credit card we will always try to automatically charge the card. Please contact us at 354-560-1600 or at email@example.com and we will assist you. Please note you have to request a grace period before the invoice will be sent to a collective agency.
12. What happens if I need to return a product or a service I bought with instalments?
You must contact the merchant you bought the product/service from. After that the merchant will contact SaltPay/Borgun to close the instalment contract. Take note that it can take several days to close the loan and cancel it from your instalment/loan web. You can invalidate an instalment within the same day of the purchase but after that you must reverse the instalment and that will take several days.