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31 October 2017, 11:09 PM | #1 |
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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.
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31 October 2017, 11:28 PM | #2 |
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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?
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31 October 2017, 11:33 PM | #3 |
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Wonder if there is an upper limit on that! DD here we come!
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31 October 2017, 11:46 PM | #4 |
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Maybe I can swing that Black & Gold Yachtmaster this month after all...
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31 October 2017, 11:47 PM | #5 |
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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, 06:46 AM | #6 |
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My thoughts exactly. It's interesting, nonetheless. Could never see myself taking advantage of such offer if it was available here.
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1 November 2017, 06:51 AM | #7 |
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If there was no interest for the 9 months I’d use it to by my DJ41.
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1 November 2017, 08:22 AM | #8 |
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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. |
1 November 2017, 08:38 AM | #9 |
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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.
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