American Express has announced the ‘Plan It‘ feature can now be used for travel purchases through AmEx Travel. Plan It allows cardholders to pay off a large purchase in increments over time (like a traditional installment loan like a car or home loan). Plan It carries a lower APR than the traditional rates on credit cards.
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The only time any of us should use the “plan it” feature on their AMEX cards is to float a Balance with one of their no-fee targeted offers while keeping the difference in a savings account for a bit of arbitrage. Don’t pay the bank interest.
I had a plan it offer on my Aspire that I opened 2 years ago with the no-fee targeted offer. I maxed out the 15k limit I had and parked it into a crypto interest reserve that has been earning 8.6% APY. I still have a few payments left, but my net total profit is going to be about $2,500. Thanks, Amex!
How are you getting that much cash out when Plan It is for purchases, and usually limited types?
Probably manufactured spend