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Etschell · 31 October 2017, 11:09 PM

They now have this new feature for charges over $100 where you can do an installment plan for 3-9 months at a lower rate than the card normally is. They are dubbing this "Plan It".

Interesting way to enable use of the card. Even though I would never use it, it is similar to one of those small business fast loans but at a lower interest (non usury) rate.

Dr.Brian · 31 October 2017, 11:28 PM

Access to easy credit is great if you can already afford it, the problem of course is that most cannot. It’s like getting a 24-36 month auto loan and then paying it off after ~6 months because whatever need you thought you might have in the short term didn’t materialize.
It’s interesting that they set the bar so low at $100. I would have suspected $1000 or more.
Who has an Amex and needs to “plan” to buy a Keurig machine or a trip to the grocery store?

RW16610 · 1 November 2017, 06:46 AM

Quote:

Originally Posted by Dr.Brian

It’s interesting that they set the bar so low at $100. I would have suspected $1000 or more.
Who has an Amex and needs to “plan” to buy a Keurig machine or a trip to the grocery store?

My thoughts exactly. It's interesting, nonetheless. Could never see myself taking advantage of such offer if it was available here.

rolex75216 · 31 October 2017, 11:33 PM

Wonder if there is an upper limit on that! DD here we come!

wantonebad · 31 October 2017, 11:46 PM

Maybe I can swing that Black & Gold Yachtmaster this month after all...

tamiya · 31 October 2017, 11:47 PM

US gets most offers first but AMEX is pretty active & innovative on the offer front.

Just got some enticement of bonus points for spending $1k this month plus there's their annual ShopSmall promo too.

Abdullah71601 · 1 November 2017, 06:51 AM

If there was no interest for the 9 months I’d use it to by my DJ41.

Runnin' Rebel · 1 November 2017, 08:22 AM

I saw that on my last few statements and was wondering what it was about:*

*Plan It allows you to create a payment plan for qualifying purchases, subject to a plan fee. This fee is a fixed finance charge that will be
charged each month that a plan is active.

superdog · 1 November 2017, 08:38 AM

Of course they are enabling.

Anything they put out is ultimately a ploy, based on statistics of the masses and their spending habits, to make more money.

They analyze the best data money can buy.

31 October 2017, 11:09 PM	#1
Etschell "TRF" Member Join Date: Dec 2013 Location: FL Watch: platinum sub Posts: 15,884	Amex enabling? They now have this new feature for charges over $100 where you can do an installment plan for 3-9 months at a lower rate than the card normally is. They are dubbing this "Plan It". Interesting way to enable use of the card. Even though I would never use it, it is similar to one of those small business fast loans but at a lower interest (non usury) rate. __________________ If you wind it, they will run. 25 or 6 to 4.

31 October 2017, 11:28 PM	#2
Dr.Brian 2024 SubLV41 Pledge Member Join Date: Sep 2009 Real Name: Brian Location: CA dreamin' Watch: ing the market. Posts: 5,906	Access to easy credit is great if you can already afford it, the problem of course is that most cannot. It’s like getting a 24-36 month auto loan and then paying it off after ~6 months because whatever need you thought you might have in the short term didn’t materialize. It’s interesting that they set the bar so low at $100. I would have suspected $1000 or more. Who has an Amex and needs to “plan” to buy a Keurig machine or a trip to the grocery store? __________________ -Brian AUDENTES FORTUNA IUVAT 十人十色

31 October 2017, 11:46 PM	#5
wantonebad 2024 SubLV41 Pledge Member Join Date: Nov 2007 Location: USA Watch: 126600, 116500LN Posts: 12,849	Maybe I can swing that Black & Gold Yachtmaster this month after all... __________________ "I'm kind of a big deal... on a fairly irrelevant social media site that falsely inflates my fragile ego"

1 November 2017, 08:38 AM	#9
superdog 2024 Pledge Member Join Date: Oct 2011 Real Name: Seth Location: nj Watch: Omega Posts: 24,834	Of course they are enabling. Anything they put out is ultimately a ploy, based on statistics of the masses and their spending habits, to make more money. They analyze the best data money can buy. __________________ If happiness is a state of mind, why look anywhere else for it? IG: gsmotorclub IG: thesawcollection (Both mostly just car stuff)

31 October 2017, 11:33 PM	#4
rolex75216 "TRF" Member Join Date: Jan 2013 Location: United States Posts: 2,008	Wonder if there is an upper limit on that! DD here we come!

31 October 2017, 11:47 PM	#6
tamiya "TRF" Member Join Date: Jul 2017 Real Name: Willy Location: AU, SG, MY Posts: 1,248	US gets most offers first but AMEX is pretty active & innovative on the offer front. Just got some enticement of bonus points for spending $1k this month plus there's their annual ShopSmall promo too.

1 November 2017, 06:51 AM	#7
Abdullah71601 Banned Join Date: Aug 2014 Location: Calumet Harbor Watch: ing da Bears Posts: 13,568	If there was no interest for the 9 months I’d use it to by my DJ41.

1 November 2017, 08:22 AM	#8
Runnin' Rebel "TRF" Member Join Date: Jan 2010 Real Name: Mark Location: 🤔 Posts: 8,424	I saw that on my last few statements and was wondering what it was about:* *Plan It allows you to create a payment plan for qualifying purchases, subject to a plan fee. This fee is a fixed finance charge that will be charged each month that a plan is active.

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