During the sales, you spot the sofa of your dreams. The colour's great and you love the design. Even with the discount, though, it's a lot of money – EUR 2,000 – and your budget's a bit tight right now. But you don't want to miss the opportunity, so you decide to pay with your Visa or MasterCard. Thanks to your Optiline, you don't have to pay it all back in one go. You can spread your repayments by simply drawing on your reserve. With Optiline, you don't have to postpone your purchase, just the payment!
One month later, you receive your Visa/MasterCard statement, together with a detailed breakdown of your Optiline cash reserve. Let's say the total amount is EUR 3,530.70, consisting of the price of the sofa (EUR 2,000) and your trip to Italy two weeks ago (EUR 1,530.70). If you've chosen Optiline, this amount is automatically deducted from your available cash reserve.
Your credit card bill is paid via Optiline. You repay 5,60% of your outstanding Optiline balance each month (minimum EUR 25) via your current account. That means you pay EUR 280 a month for 13 months, plus a final repayment of EUR 51.41. The total amount to be repaid is therefore EUR 3,691.41 [fixed debit interest: 9,50%, Optiline credit limit: EUR 5,000, APR: 9,50% (valid on 01/12/2012), duration of contract: open-ended]. In the meantime, you can continue to draw on the balance of your cash reserve. What's more, the amounts you repay are available again immediately.
If you like, you can also repay more than the suggested 5,60% or even the whole of the outstanding balance in one go.