Cost of credit — the amount your company pays for the convenience of spreading a bill, on top of the amount Credicorp advances to your supplier. It is the price of the Slice itself.
Where you see it
The cost of credit for your Slice is set out in your offer before you accept. You see the total you will repay and how it breaks down across your instalments, so there is nothing hidden and nothing to work out afterwards.
Key points
- It is shown up front, in your specific offer, not as a general figure we quote
- It is built into your instalments rather than charged separately
- Settling a Slice early may reduce what you pay overall — check your offer or ask our team
Making it worthwhile
The cost of credit is the trade for better timing and a supplier paid in full today. It is worth weighing that cost against the value of keeping your cash where it needs to be. If you could comfortably pay the bill outright, doing so avoids the cost entirely.
Related terms
The cost of credit is spread across your instalments and forms part of the total in your repayment schedule.
See also: Slice glossary: instalment, How do Slice instalments actually work? and How much does Credicorp Slice cost?.