Repeat buyer prediction is crucial for e-commerce companies to enhance their customer services and product sales. In particular, being aware of which factors or rules drive repeat purchases is as significant as knowing the outcomes of predictions in the business field. Therefore, an interpretable model with excellent prediction performance is required. Many classifiers, such as the multilayer perceptron, have exceptional predictive abilities but lack model interpretability. Tree-based models possess interpretability; however, their predictive performances usually cannot achieve high levels. Based on these observations, we design an approach to balance the predictive and interpretable performance of a decision tree with model distillation and heterogeneous classifier fusion. Specifically, we first train multiple heterogeneous classifiers and integrate them through diverse combination operators. Then, classifier combination plays the role of teacher model. Subsequently, soft targets are obtained from the teacher and guide training of the decision tree. A real-world repeat buyer prediction dataset is utilized in this paper, and we adopt features with respect to three aspects: users, merchants, and user–merchant pairs. Our experimental results show that the accuracy and AUC of the decision tree are both improved, and we provide model interpretations of three aspects.