topic Amex Plan-It update in Credit Cards

Amex Plan-It update

joltdude — Tue, 09 Jul 2019 01:44:25 GMT

Just got an emai from Amex explaining how you could group up to 10 purchases of at least a hundred each into a Plan-It

Plan It® is an exclusive benefit that lets you split up large purchases over time for a fixed monthly fee and no interest. And now, you can combine multiple purchases of $100 or more into one plan. There’s no sign-up required, and creating a plan is easy.

This reminds me of Blispay but you had to call them to group purchases... Did this once with an Amazon order that split into multiple charges...

-J

AmX PlanIt - Now you can group multiple purchases

CreditInspired — Tue, 09 Jul 2019 01:53:27 GMT

I got this email from AmX. I dont think it’s targeted.

Re: Amex Plan-It update

Anonymous — Tue, 09 Jul 2019 01:59:27 GMT

I haven’t gotten that email yet.

I actually used Plan-It for two purchases just to kind of save myself some payments while I have the 0% intro without worrying about AMEX giving me a CLD.

Its a neat little feature. I got my first bill today and I love how it still shows my full account balance and then has an adjusted balance that includes my Plan-It so I don’t have to work out any math on how much to pay.

Although with a regular 24.24% APR, I won’t be doing any Plan-It purchases once my intro is over. It’s definitely a nice way to put large purchases on my Cash Magnet and not worry about AA for low payments though.

Re: Amex Plan-It update

kilroy8 — Tue, 09 Jul 2019 02:19:25 GMT

I got it, too.

Re: Amex Plan-It update

joltdude — Tue, 09 Jul 2019 02:27:08 GMT

Didn't think it was a targeted offer, but an upgrade to how Plan-It operates....

Kinda been using Plan-it to track my 0% offers iv paid over time... Like the adjusted payment feature.. easier than doing the math yourself and tracking 0% as long as it fits into the offer period.... as Sauren mentioned before...

Also makes it easier to figure out the amount to PIF the non Plan-it purchases every month... (regarding adjusted payment data)

-j

Re: Amex Plan-It update

Anonymous — Tue, 09 Jul 2019 02:34:37 GMT

Received this email as well. Never used the plan it but nice to have options.

Re: AmX PlanIt - Now you can group multiple purchases

M_Smart007 — Tue, 09 Jul 2019 02:55:34 GMT

I got it @ 5:33pm Today

Re: AmX PlanIt - Now you can group multiple purchases

wasCB14 — Tue, 09 Jul 2019 03:28:16 GMT

Has anyone gotten a targeted no-fee offer lately? For general purchases, that is...not just for purchase at a specific merchant.

Re: Amex Plan-It update

NRB525 — Tue, 09 Jul 2019 04:47:43 GMT

@Anonymous, it would be interesting to see what your Plan It feed calculate to, after the 0% completes. I expect it will be a lot less than 24%.

If you set Plan It now, does it have offer periods that extend beyond the 0% availability?

Re: Amex Plan-It update

Anonymous — Tue, 09 Jul 2019 04:59:46 GMT

@NRB525 wrote:
@Anonymous, it would be interesting to see what your Plan It feed calculate to, after the 0% completes. I expect it will be a lot less than 24%.

If you set Plan It now, does it have offer periods that extend beyond the 0% availability?

No it doesn’t. The longest one it has offered me is 12 months on a $120 purchase and my 0% isn’t over until 10/2020. I know for a fact it will be a lot lower, probably more around 14-15% from examples I have seen, but when I have the NFCU Platinum card at 8.24%, if I had to carry a balance it would be on that card.

That said, I don’t carry balances. I’ve paid about less than $10 in interest since I got my QS back in 2014 and back then I didn’t really have the option of just opening a new card for 0% or buying on Amazon on deferred interest like I have available to me now so I don’t expect to pay interest any time soon. The only reason why I am even carrying a balance from one month to the next right now is because I have two SUBs to hit by September 5th.

Re: Amex Plan-It update

staticvoidmain — Tue, 09 Jul 2019 05:56:41 GMT

Yeah, got this in the mail as well. I used plan-it, but only on single large purchases ( $2K+). I don't think I would use a grouped plan, because I only really use my Amex credit card for brand-specific purchases (tickets for Delta, and hotel stays for Marriott).

The only reason I use Plan-It is that it gives me a clear picture of how much interest (fee) I will pay, on times I don't have cash on hand. It kinda turned me off recently on a no-interest Delta plan, because of the vague description on how to use it (added promo to card, purchased a ticket on Delta, tried to use Plan-It, did not get interest-free plan, because reasons..), and I am also not much of a fan of the fact that Amex only gives me really long terms (12, 18, 24 months), and I want to pay it off 3 months max. It's a good option nonetheless and might come in handy on a rare occasion.

Re: Amex Plan-It update

Anonymous — Tue, 09 Jul 2019 09:37:08 GMT

Even setting up a Plan It for 12 months, wouldn’t you have the option to pay it off early if you choose? Or does Amex lock you into it? I haven’t used it for any purchases yet but I might in the future.

Re: Amex Plan-It update

NRB525 — Tue, 09 Jul 2019 12:39:08 GMT

The Plan It fee is monthly as long as you have a balance on the Plan. So using it for a few months, out of a 12 month Plan, and paying it off, will end the monthly fees once that Plan It balance goes to zero.