Watch This Space, page-5701

"treated as"
I think you will find its just language given to journalists by banks to stress to regulators and users what they are providing is a "credit" product. A dig at the competitiors.
The writers of articles like these are not writing their articles from a technical investor perspective to pull apart and make investment decisions on. Stating its treated like a credit card is and easy way to say we are adhering to providing responsible lending products within our banking liscense. Treated as a credit card is also a simple explanation of the product to the layman (the article readers and users)...and not technical investment advice
Its broad explanatory language by banks and not meant to be technical.

The competitiors APT, Z1P have stated they do not provide a credit product. Thats their argument to avoid regulation.
You will notice that users also undergo lending "credit checks" by CBA.
Guess what....you undergo "credit checks" when you apply for a loan. Loans also are not credit cards.

Basically all of these users who are eligible would be eligible for a real $1000 credit card. So thats the negative in this for splitit. But $1000 holders are not big ticket stuff on target market of splitit so thats the silver lining here.

Anyways despite all those confusing words the banks use ("credit"and "installments") the product is not a fit.

I actually want someone with this CBA thing to enter it into a Splitit merchants and see what happens. Most likely nothing.