Understand how your statement changes with Scotia SelectPay^™

The Total minimum payment line shows the payment you need to make each month to remain in good standing, including your current installment payment.¹ These are all due on your Payment due date. In this example, the Total Minimum payment amount of $393.50 = $10 + $383.50. If you have any overdue or overlimit amounts, these would be included here as well. 

The Current installment payment and Installment/charges lines in your statement show the monthly installment payments due this month. To see your monthly installment payments broken down by plan, check out the Installment Plan Details on the last page of your statement.

The Available credit does not change as a result of converting an eligible purchase to an installment plan. When you make your purchase, it is posted to your eligible account and the available credit is reduced as is your credit limit.

The available credit calculation includes your New balance and Outstanding installment balance amounts. In this example, $17,460.50 = $20,000 - $614.50 - $1,925.

To see your Total outstanding installment balance, which is the balance that you owe on all your installments plan(s), check out the Installment Plan Details on the last page of the statement.

The list of transactions now includes the installment plan enrolments, cancellations and fees.

The Installment Plan Summary and Installment Plan Details now appear on the last page of your credit card statement. Here you can find all the details about your installment plans.

The Outstanding Installment balance is the total balance owed for your installment plans and is deducted from your available credit calculation.