One of the more popular advertising slogans from Twisto creators is: buy now, pay later. This is an excellent answer to the question of how the Twisto card works. Later in the article you will also learn what additional benefits you can count on, when using this popular service.
Table of Contents
What is Twisto
The main Twisto product is a debit card with a deferred payment date. In practice, this means that with the Twisto card, you make purchases during the calendar month, and then you pay the total bill for all expenses, in the middle of the next month.
So if you make a purchase on the first day of the month, you will actually pay for the goods after 45 days. When using the card in the following days, the loan period will of course be shorter, but the creators of the service also provided for an additional postponement of the payment date.
How the Twisto card works, the deferred bill payment
On the first day of each month, the bill for the previous period will appear in your Twisto panel. All the transactions you have made in that month will be listed there. The invoice payment deadline is 15 days, which means that it must be paid no later than 15 days after being issued.
It is allowed to partially pay the amount due, and transfer the remaining amount to the following months. However, such a procedure involves an additional fee, which will depend on the amount of the deferred amount.
The Twisto card transactions limit
By registering in the Twisto application, you choose the loan amount that you will be allowed to use. The funds used are deducted from the limit at the time of purchase. However, after paying the total bill, the repaid limit amount is restored.
When considering the amount of the limit granted, Twisto employees take into account the creditworthiness of the person registering in the application. The exact criteria they follow, are not widely known, at least I do not know them (just like the principles of the Google algorithm).
It happens, however, that a person with a good credit history might not get a credit, while a customer whose unpaid loan is listed in the bad debts’ database, will pass the verification positively. The company is probably guided by its internal credit policy, to which it has the full right.
In most cases, however, customer verification ends with a positive decision, which results in the receipt of a Twisto debit card. Registration on the site is absolutely free, so it’s always worth a try.
How the Twisto card works with foreign currency works
You can pay in any currency with your Twisto card. The amount due for the purchased goods or service will be converted to your currency at a very good exchange rate.
There is also a special Cashback program, thanks to which you can get a refund of up to 10% of your expenses. The program includes several hundred popular stores, so you will surely find something for yourself.
The Twisto card can also be added to the Curve application, and every purchase in foreign currency will be automatically settled at a very good interbank exchange rate.
The principle of the Curve card is described in the article: How to Use a Curve Card.
If you have additional questions about how the Twisto card works, please comment below or write a message via the contact form. We also encourage you to share our posts on social media. Thank you.
The article is also available in Polish language at: Jak działa karta Twisto.