Mercado Livre offers a payment method called Credit Market, where users can pay their purchases in installments without using a credit card. The mode allows you to buy up to 12 times through tickets generated on the platform. The service is not yet available to everyone, just on an eligible basis, and is coming slowly, according to the user's buying history.
Here's how the Credit Market works and how to use the service to buy installment products without using a credit card.
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Mercado Livre has installment purchase option without credit card Photo: Marvin Costa / TechTudo
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How the Credit Market Works
- Is the Credit Market available to everyone?
Those eligible receive a pre-approved credit line ranging from $ 300 to $ 2,200 and can make purchases of at least $ 50 up to the limit they have available when paying the installments on time, there may be an increase of line. Purchases above this amount remain cleared for payment by credit card or credit card.
The slips are generated with a previously defined due date: day 5, 10, 15 or 28 of each month. In the Credit Market section, the user can view the slips, due date information, installments payable and last purchases.
Interest rates depend on the profile of each user, the calculation and the final cost (inclusive of each installment). This information is presented during the purchase process.
- Are the delivery of the product only after the payment of all installments?
No. The delivery time set during purchase is presented during the delivery / freight selection steps. The slips must be paid according to maturity and option of installments number from 2 to 12.
How to use the Credit Market
Step 1. With your Free Market account, access a product you want and click the "Buy" button;
When to start a purchase at Mercado Livre to choose a payment option Mercado Credito Photo: Reproduction / Marvin Costa
Step 2. Choose the shipping mode you want to receive your product. Click on one of the options to proceed;
When to choose the shipping method in a purchase with Mercado Mercado Mercado Livre Credit: Reproduo / Marvin Costa
Step 3. Under "Other Media", click on the "Credit Market" payment option, as shown in the image below;
By defining the Credit Market as a form of payment for a product in the Free Market Photo: Reproduo / Marvin Costa
Step 4. Click on the amount of installments in which you want to pay the product. Remember that tickets will be issued with the amounts to be paid every month;
When to choose the installments in a purchase made by the Free Market Credit Market Photo: Reproduo / Marvin Costa
Step 5. Review the purchase details and check "Payment Details" for the date you have to pay the slips. To make your purchase, click the "Confirm Purchase" button. It is worth mentioning that, above the confirm purchase button, it is possible to access the documents that prove the transaction as terms and conditions and the Bank Credit Code, which is the proof of the transaction.
When to confirm the payment of a product in Mercado Livre using the payment method Mercado Credito Photo: Reproduction / Marvin Costa
Use the feature to make installment purchases on the platform even without having a credit card.
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