topic Re: New card: U.S. BANK SPLIT™ WORLD MASTERCARD® (Pay later – on every purchase) in Credit Cards

New card: U.S. BANK SPLIT™ WORLD MASTERCARD® (Pay later – on every purchase)

portlandmusician — Sat, 01 Nov 2025 23:41:10 GMT

U.S. Bank has a new card. No rewards, so probably not of interest to anyone here, but U.S. Bank is making weirder and weirder moves. Hadn't seen it posted yet, so thought I would post it:

U.S. BANK SPLIT™ WORLD MASTERCARD®

Pay later – on every purchase.

on all purchases for 3 months
All purchases are automatically divided into 3 payments and placed into a payment Plan to be paid back over 3 months, with no .,

Choose to extend Plans to 6 or 12 months
You can extend payment plans to 6 or 12 months with equal monthly payments and , for just a small, fixed monthly .,

Pay at your pace.

https://www.usbank.com/credit-cards/split-card-world-mastercard-credit-card.html

Re: New card: U.S. BANK SPLIT™ WORLD MASTERCARD® (Pay later – on every purchase)

Vinjints — Sun, 02 Nov 2025 00:51:23 GMT

Sounds like a BNPL charge card. I'm trying to understand a scenario where I'm buying something but want to pay it off over three months. Maybe they are actually trying to compete with Affirm and those other companies.

Re: New card: U.S. BANK SPLIT™ WORLD MASTERCARD® (Pay later – on every purchase)

AskPatient1281 — Sun, 02 Nov 2025 02:16:59 GMT

Has anything like this ever gained traction in the market?

Re: New card: U.S. BANK SPLIT™ WORLD MASTERCARD® (Pay later – on every purchase)

ocheosa — Sun, 02 Nov 2025 03:54:19 GMT

@portlandmusician , this new card release is sort of strange. It would be best to apply for the Cash+ / MCP to earn the categorized 5% cash back and combine with the ExtendPay plan for 3, 6, 12, 18, 24 month payment options. I have two MCP's and three months per year (Apr/May/Jun) receive no fee offers for up to 12 months. I use this feature to annually pre-pay my utilities and cell phone. I use on both my MCPs, earn 5% (sometimes more when separate offers are stacked) and 0% financing. Win-win! It's also an easy method to run an interest free balance for trended data.

Re: New card: U.S. BANK SPLIT™ WORLD MASTERCARD® (Pay later – on every purchase)

bs1234 — Sun, 02 Nov 2025 05:11:59 GMT

In a few months this will be nerfed so the 3 month plan is only free if you have $100K in US Bank checking!

Re: New card: U.S. BANK SPLIT™ WORLD MASTERCARD® (Pay later – on every purchase)

crystal626 — Sun, 02 Nov 2025 07:11:17 GMT

Gotta love how they don't even tell you what plan fees can be until after you get approved.

Re: New card: U.S. BANK SPLIT™ WORLD MASTERCARD® (Pay later – on every purchase)

TrapLine — Sun, 02 Nov 2025 07:28:10 GMT

Resembles a credit card titled "Shoppers Charge" back to the 1960s and 1970s. You could revolve the balance at the current market rate or take the ninety day three pay with no interest charges. Loved the card and used it often.

Ultimately they were bought out by Associates Bank from California and converted to a Master Card (I closed the account) as it was no longer a competitive card for me.

Re: New card: U.S. BANK SPLIT™ WORLD MASTERCARD® (Pay later – on every purchase)

SilentTraveler — Sun, 02 Nov 2025 18:46:50 GMT

The image from the video in the USB link shows the "monthly fee" for the purchase. This looks to be a huge trap for people to get into without clearly understanding the various options especially once you start getting into more than one purchase. It appears that the monthly fee is fixed at 9% of the purchase price. With the total of monthly fees equalling 9% for a 6 month plan and 18% for the 12 month plan (in the example the monthly fee is $18.76 for both plans).

Purchase of $1,250.82

3 month option = $416.94 x 3 = $1,250.82

6 month option = $227.23 x 6 = $1,363.38 (includes monthly fee $18.76 x 6 = $112.56)

12 month option = $123.00 x 12 = $1,476.00 (includes monthly fee $18.76 x 12 = $225.12)

Best option would be the 3 month no fee, no interest. Otherwise, unless you have the ability to pay off a plan early you will be signing up for fixed payment schedules.

My mental capacity this morning prevents me from calculating what the APR is on these monthly fee plans.

Re: New card: U.S. BANK SPLIT™ WORLD MASTERCARD® (Pay later – on every purchase)

Total_Synergy — Sun, 02 Nov 2025 19:40:42 GMT

Good catch @portlandmusician. This past year I've noticed USBank, Citi, Amex and other issuers are constantly offering me some sort of "Internal BNPL/Extended Payments" programs rather than traditional paying interest on rollover balances if one doesn't PIF. I am thinking they might have market intelligence showing cash flow pinches for otherwise dependable borrowers and maybe want to stave off folks falling behind (or conversely get PIF folks onto a dark treadmill of payments), and get some fee income to boot. Time will tell...

Re: New card: U.S. BANK SPLIT™ WORLD MASTERCARD® (Pay later – on every purchase)

crystal626 — Sun, 02 Nov 2025 20:10:51 GMT

@SilentTraveler wrote:
The image from the video in the USB link shows the "monthly fee" for the purchase. This looks to be a huge trap for people to get into without clearly understanding the various options especially once you start getting into more than one purchase. It appears that the monthly fee is fixed at 9% of the purchase price. With the total of monthly fees equalling 9% for a 6 month plan and 18% for the 12 month plan (in the example the monthly fee is $18.76 for both plans).

Purchase of $1,250.82
3 month option = $416.94 x 3 = $1,250.82
6 month option = $227.23 x 6 = $1,363.38 (includes monthly fee $18.76 x 6 = $112.56)
12 month option = $123.00 x 12 = $1,476.00 (includes monthly fee $18.76 x 12 = $225.12)

Best option would be the 3 month no fee, no interest. Otherwise, unless you have the ability to pay off a plan early you will be signing up for fixed payment schedules.

My mental capacity this morning prevents me from calculating what the APR is on these monthly fee plans.

I doubt that 9% is the only option or they would just list that. It's obviously going to be based on your credit like other cards with plan fees. The lack of transparency up front though isn't great.

Re: New card: U.S. BANK SPLIT™ WORLD MASTERCARD® (Pay later – on every purchase)

ocheosa — Sun, 02 Nov 2025 20:34:13 GMT

@crystal626 wrote:
@SilentTraveler wrote:
The image from the video in the USB link shows the "monthly fee" for the purchase. This looks to be a huge trap for people to get into without clearly understanding the various options especially once you start getting into more than one purchase. It appears that the monthly fee is fixed at 9% of the purchase price. With the total of monthly fees equalling 9% for a 6 month plan and 18% for the 12 month plan (in the example the monthly fee is $18.76 for both plans).

Purchase of $1,250.82
3 month option = $416.94 x 3 = $1,250.82
6 month option = $227.23 x 6 = $1,363.38 (includes monthly fee $18.76 x 6 = $112.56)
12 month option = $123.00 x 12 = $1,476.00 (includes monthly fee $18.76 x 12 = $225.12)

Best option would be the 3 month no fee, no interest. Otherwise, unless you have the ability to pay off a plan early you will be signing up for fixed payment schedules.

My mental capacity this morning prevents me from calculating what the APR is on these monthly fee plans.

I doubt that 9% is the only option or they would just list that. It's obviously going to be based on your credit like other cards with plan fees. The lack of transparency up front though isn't great.

^This^

For me the fee was ~0.6-0.7%. Still too cheap to use it , I wait for the no fee offers.

Re: New card: U.S. BANK SPLIT™ WORLD MASTERCARD® (Pay later – on every purchase)

Kforce — Sun, 02 Nov 2025 21:18:18 GMT

 
    The 6 month fee  = 30.225 % 
    The 12 month fee = 31.712 % 


       Loan:   1250.82
       Rate:    30.225 %
       Pmt :    227.23

       Payment   Principal   Interest    Balance       yyyy/mm     #
   ---------------------------------------------------------------------
        227.23     195.72      31.51      1055.10      2025 11     1
        227.23     200.65      26.58       854.45      2025 12     2
        227.23     205.71      21.52       648.74      2026  1     3
        227.23     210.89      16.34       437.85      2026  2     4
        227.23     216.20      11.03       221.65      2026  3     5
        227.23     221.65       5.58         0.00      2026  4     6
   ---------------------------------------------------------------------
        Total                Interest                   Years
   ---------------------------------------------------------------------
       1363.38                112.56                     0.50



       Loan:   1250.82
       Rate:    31.712 %
       Pmt :    123.00

       Payment   Principal   Interest    Balance       yyyy/mm     #
   ---------------------------------------------------------------------
        123.00      89.94      33.06      1160.88      2025 11     1
        123.00      92.32      30.68      1068.56      2025 12     2
        123.00      94.76      28.24       973.80      2026  1     3
        123.00      97.27      25.73       876.53      2026  2     4
        123.00      99.84      23.16       776.69      2026  3     5
        123.00     102.47      20.53       674.22      2026  4     6
        123.00     105.18      17.82       569.04      2026  5     7
        123.00     107.96      15.04       461.08      2026  6     8
        123.00     110.82      12.18       350.26      2026  7     9
        123.00     113.74       9.26       236.52      2026  8    10
        123.00     116.75       6.25       119.77      2026  9    11
        122.94     119.77       3.17         0.00      2026 10    12
   ---------------------------------------------------------------------
        Total                Interest                   Years
   ---------------------------------------------------------------------
       1475.94                225.12                     1.00

Re: New card: U.S. BANK SPLIT™ WORLD MASTERCARD® (Pay later – on every purchase)

crystal626 — Sun, 02 Nov 2025 22:16:05 GMT

@ocheosa wrote:
@crystal626 wrote:
@SilentTraveler wrote:
The image from the video in the USB link shows the "monthly fee" for the purchase. This looks to be a huge trap for people to get into without clearly understanding the various options especially once you start getting into more than one purchase. It appears that the monthly fee is fixed at 9% of the purchase price. With the total of monthly fees equalling 9% for a 6 month plan and 18% for the 12 month plan (in the example the monthly fee is $18.76 for both plans).

Purchase of $1,250.82
3 month option = $416.94 x 3 = $1,250.82
6 month option = $227.23 x 6 = $1,363.38 (includes monthly fee $18.76 x 6 = $112.56)
12 month option = $123.00 x 12 = $1,476.00 (includes monthly fee $18.76 x 12 = $225.12)

Best option would be the 3 month no fee, no interest. Otherwise, unless you have the ability to pay off a plan early you will be signing up for fixed payment schedules.

My mental capacity this morning prevents me from calculating what the APR is on these monthly fee plans.

I doubt that 9% is the only option or they would just list that. It's obviously going to be based on your credit like other cards with plan fees. The lack of transparency up front though isn't great.
^This^
For me the fee was ~0.6-0.7%. Still too cheap to use it , I wait for the no fee offers.

I'm so bad at gardening that I always have at least one card with 0% so I never even look lol

Re: New card: U.S. BANK SPLIT™ WORLD MASTERCARD® (Pay later – on every purchase)

galahad15 — Tue, 04 Nov 2025 20:33:43 GMT

@AskPatient1281 wrote:
Has anything like this ever gained traction in the market?

Direct Merchants Bank in the late 90s and early 2000s offered a Titanium credit card that had a 90-day grace period on all purchases -- I used to have one of these. Unfortunately, they were acquired by Cap1 at the time iirc, and after that, the 90-day grace period feature went away, and so I closed out the card after Cap1 acquired them.

ETA: when I had the DMB card, the 90-day grace period for every purchase made it very easy to both revolve balances *and* never pay a dime in interest to them

Re: New card: U.S. BANK SPLIT™ WORLD MASTERCARD® (Pay later – on every purchase)

TrapLine — Wed, 05 Nov 2025 00:09:36 GMT

Another US Bank muddled mess? Wonder how many people will find this very confusing and not know what is what?

US Bank just seems to be somewhere on the Planet Earth and lost in the mission of banking. The US Bank Smartly Program has been so over micro-managed to a fault who knows what's next?

Do know the month of November 10, 2025 they will be eliminating any real interest on their US Bank Smartly Savings accounts with a base rate of 0.05% APY and then 5%, 10% or 15% ($100,000 minimum) adder. Unrealistic!

Re: New card: U.S. BANK SPLIT™ WORLD MASTERCARD® (Pay later – on every purchase)

Patient957 — Wed, 05 Nov 2025 00:59:49 GMT

@Vinjints wrote:
Sounds like a BNPL charge card. I'm trying to understand a scenario where I'm buying something but want to pay it off over three months. Maybe they are actually trying to compete with Affirm and those other companies.

Yes, this.

The BNPLs are growing fast and taking market share in consumer lending. Apparently this model appeals to younger consumers. The CCCs are clearly trying to compete with Affirm, Klarna, et al.

Re: New card: U.S. BANK SPLIT™ WORLD MASTERCARD® (Pay later – on every purchase)

Follower — Wed, 05 Nov 2025 07:24:17 GMT

Kudos to @Kforce for doing the math and figuring out that once you go past three months, you're paying more than a 30% APR.

(Granted, US Bank is not the first to premier an interest rate like this...)

Re: New card: U.S. BANK SPLIT™ WORLD MASTERCARD® (Pay later – on every purchase)

galahad15 — Fri, 07 Nov 2025 21:55:48 GMT

I tried to see if I was pre-approved for the card, but when I checked only the option to check pre-approval status, I got a message back that said that they would need 7-10 days to make a determination and get back to me -- so I am assuming they didn't honor the pre-approval SP offer, and went through with a HP after all...

Re: New card: U.S. BANK SPLIT™ WORLD MASTERCARD® (Pay later – on every purchase)

JamesS84 — Tue, 11 Nov 2025 22:47:53 GMT

They’re pandering to the BNBL crowd. Who would actually get this, though?

Re: New card: U.S. BANK SPLIT™ WORLD MASTERCARD® (Pay later – on every purchase)

TrapLine — Wed, 12 Nov 2025 03:48:01 GMT

@crystal626 wrote:
@SilentTraveler wrote:
The image from the video in the USB link shows the "monthly fee" for the purchase. This looks to be a huge trap for people to get into without clearly understanding the various options especially once you start getting into more than one purchase. It appears that the monthly fee is fixed at 9% of the purchase price. With the total of monthly fees equalling 9% for a 6 month plan and 18% for the 12 month plan (in the example the monthly fee is $18.76 for both plans).

Purchase of $1,250.82
3 month option = $416.94 x 3 = $1,250.82
6 month option = $227.23 x 6 = $1,363.38 (includes monthly fee $18.76 x 6 = $112.56)
12 month option = $123.00 x 12 = $1,476.00 (includes monthly fee $18.76 x 12 = $225.12)

Best option would be the 3 month no fee, no interest. Otherwise, unless you have the ability to pay off a plan early you will be signing up for fixed payment schedules.

My mental capacity this morning prevents me from calculating what the APR is on these monthly fee plans.

I doubt that 9% is the only option or they would just list that. It's obviously going to be based on your credit like other cards with plan fees. The lack of transparency up front though isn't great.

Hmm ... if US Bank can't make money of their very user friendly card they will certainly use their favorite approach and "nerf" it