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‘Pay It Plan It’ from Amex: Fees, tips; is it worth it? | CreditCards.com

Summary

“Pay It Plan It” is a flexible payment option offered by American Express in some personal credit cards. Is it worth it? Here’s everything you need to know, including fees and tips.

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Carrying a credit card balance can be convenient but interest charges make purchases more expensive, the longer you take to pay. Interest also takes away from the value of any rewards you might have earned.

American Express is making paying over time – and potentially saving on interest – easier with “Pay It Plan It,” a flexible financing option.

“Flexible financing can be a great way to avoid interest payments on big-ticket items,” says Steven Millstein, certified credit counselor and editor of credit education site CreditRepairExpert. “If you can pay off your balance early, you can avoid future monthly fees, too.”

“Pay It Plan It” may not be right for everyone, however. This guide explains the program guidelines and how it compares to other flexible financing options.

‘Pay It Plan It’ basics

“Pay It Plan It” covers two different payment options:

  • Pay It allows you to pay offsmall purchases (less than $100) right away using the American Express app.
  • Plan It lets you split up larger purchases (over $100) into monthly installment payments with no interest charges.

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‘Pay It Plan It’ from Amex: Fees, tips; is it worth it? – CreditCards.com.

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