American Express has announced that it will be adding ‘Pay It Plan It’ & ‘Pay Over Time’ to American Express Platinum cards. Previously these flexible payment options were available on the American Express Green & American Express gold card. These are all charge cards which means that normally the balances acquired need to be paid in full each month. The pay over time feature effectively allows cardholders to carry a balance like a regular credit card and the pay it plan turns purchases into an installment loan. Previously American Express offered an enrollment bonus for the pay over time feature, it’s unclear if that will still be offered.
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Can anyone think of a reason this was originally excluded from the Platinum?
I have had pay over time for purchases over $100 on my Platinum for a while. No pay it plan it though.
Higher net value customer for Plat / Centurion cards typically thus no reason to offer the “pay over time option” Also, likely a reaction to there not being much travel spend on the cards – encourgaing spend in other ways.
I also have has pay over time on my Plat for several years 🙂