***Testphase - for selected users only***
1. How does Holvi credit work?
When you pay with the virtual Holvi credit card, we act as a buffer between the online store and your money. Instead of charging your Holvi account directly and lowering your balance, we’ll charge the Holvi credit account connected to your new credit card. You can then pay off the amount at your convenience.
Please note: Our pilot phase uses virtual credit cards – meaning you’ll be able to see card details in-app and make online purchases, but you won’t get a physical card just yet. That comes in a few months.
2. Is Holvi credit available on all Holvi plans?
The Holvi credit card is only available to customers on Holvi Pro or Holvi Zen.
3. How does my Holvi credit card balance get charged?
Instead of charging your Holvi account directly, Holvi credit cards are linked to a separate credit account. Your credit card balance is accrued in your Holvi credit account. As such, It is then charged separately from any debit account charges.
4. How much is my spending limit?
Your virtual Holvi credit card is linked to an individual credit line, determined by your credit score when you sign up for the card. A credit line (or line of credit) is a fixed amount a customer can borrow from a financial institution – in this case, Holvi!
You can use your virtual credit card to spend up to the limit of the credit line attached to your credit account. For example, if your credit line is €3,000, you can spend a total of €3,000 on your Holvi credit card.
As you use your Holvi credit card, your remaining credit balance will fall respectively. For example, if you spend €100 of your €3,000 credit line, you’ll have €2,900 worth of credit left over.
5. Where can I find my spending limits?
When you log into the Holvi mobile app, you’ll see the My Holvi Credit section on the home screen. This contains the total spent and remaining balances for your Holvi credit card.
6. When / how often is my credit card balance updated?
Every credit card purchase you make instantly and automatically updates your account balance. The balance shown on your home screen is the amount available from your credit line. It’s made up of:
- Paid and reserved payments*
*A reserved payment happens when the merchant puts a transaction amount on hold but the money hasn’t yet been withdrawn from your account.
7. How do I repay my Holvi credit card purchases?
At the beginning of each month, we’ll send you an invoice with your past month’s transactions and the minimum repayment due, based on a 6-month repayment plan with 12% interest. Find more details on this in your contract. You can either pay off your balance in full (interest-free), follow our repayment plan or pay another amount of your choice. Our support team is always on hand to answer any credit questions that might come up.
Pro tip: To avoid extra costs, such as for payment reminders, you should aim to pay at least the minimum amount listed on your monthly credit card statement by the due date.
8. Where do I find my credit card invoice?
We’ll send you an invoice by email each month with information on the previous month's transactions and the minimum repayment due for each month, according to the standard 6-month repayment plan.
9. How is the minimum repayment calculated?
Each minimum monthly repayment is calculated on the basis of all instalments due, the interest calculated on the basis of the annual percentage rate (APR) of your credit agreement and any applicable processing fee.
10. How can I repay the outstanding debt?
You are required to repay at least the minimum repayment amount to Holvi on each monthly invoice due date. At any time up to the invoice due date, you can decide whether you want to pay the agreed minimum repayment amount, the entire outstanding amount or anything in between by requesting this from our support team.