Whether you’ve been dreaming about an upgrade to your kitchen or have an unexpected plumbing emergency, having easy access to flexible financing options makes any situation a lot easier to handle. Now, smart installment payment options, like CIBC Pace ItTM, can help you pay off large purchases in monthly installments at a lower interest rate. Read on to learn more about how you can take advantage of this flexible payment option to complete your next home renovation or repair project.
How Installment Plans Can Help Pay for Repairs and Renovations
Sometimes you’ve found the perfect company that can help you achieve your dream renovation or repairs. But reality can quickly set in when you see the costs associated with hiring that particular company. Paying with your credit card can be an easy finance option, but carrying an unpaid balance will mean you will incur interest on your credit card.
With CIBC Pace It, available on most personal CIBC credit cards, you can convert a purchase of $100 or more into an installment plan. This allows you to spread payments over a fixed term, with lower interest rates. No additional credit checks or approvals are required to use CIBC Pace It, as the original purchase was made within your CIBC credit card limit. This makes it simple to manage the payment of your latest renovation or repair and more effectively manage your cash flow.
Protect Your Investments
Alongside CIBC Pace It, you still get all the other benefits of your CIBC credit card, such as rewards and insurances (e.g. purchase security and extended warranty). Also, when you use your CIBC credit card you have the capability to settle payment disputes via CIBC which is very useful should the company you hire decides not to finish the job or if the final product was not what was mutually agreed to. This is something that can’t be done when paying in cash and so it’s a great way to protect your investment in your home.
There are times when you need to invest in your home. Whatever your reason is, be sure to ask your pro about their installment payment options. If you prefer credit card financing, look into CIBC Pace It to help you better manage your next renovation or repair.
*This post is sponsored by CIBC.