Amex is expanding payment options to Platinum, Gold, and Green Cards.

[GoldenloveNY]

Interesting. Now Platinum members can have the POT feature that the Green and Gold card have, and Amex is expanding the Pay It/Plan It feature on all the charge cards now. 

https://thepointsguy.com/news/amex-pay-it-plan-it-expansion/

[wasCB14]

My Schwab Platinum has had Pay Over Time for years. I've just never used it since the APR equivalent is in the double digits and not zero.

[K-in-Boston]

Zach must have altitude sickness from being at ground level instead of wheels up.  

That second paragraph is just plain wrong.  POT has been available on all consumer charge cards for nearly 2 decades, and a similar option was available in the late 90s.

Interesting if Pay It/Plan It is coming to charge cards, though.

[wasCB14]

Dear [wasCB14],

As a valued Platinum Schwab Card Member, you deserve choices when it comes to paying your bill each month. We'd like to invite you to enroll in the Extended Payment Option, a feature that gives you the flexibility to carry a balance with interest or pay in full each month.

And, if you are approved, you could get 10,000 Membership Rewards® points.

Flexibility

Eligible charges of $100 or more will be automatically moved to your Pay Over Time balance up to your Pay Over Time limit. For charges you choose to pay over time, the APR will be a variable rate, currently 18.74%. (The rate assigned will be the same as the current rate for your Select & Pay Later feature). You still have the option to pay your balance off in full each month.

No Enrollment Fee

There is no fee to enroll and you will continue to enjoy all of the benefits of your Card.

Enrollment Bonus

10,000 Membership Rewards points if approved by 05-13-2017.

[K-in-Boston]

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@wasCB14 wrote:

Dear [wasCB14],

As a valued Platinum Schwab Card Member, you deserve choices when it comes to paying your bill each month. We'd like to invite you to enroll in the Extended Payment Option, a feature that gives you the flexibility to carry a balance with interest or pay in full each month.

And, if you are approved, you could get 10,000 Membership Rewards® points.

Flexibility

Eligible charges of $100 or more will be automatically moved to your Pay Over Time balance up to your Pay Over Time limit. For charges you choose to pay over time, the APR will be a variable rate, currently 18.74%. (The rate assigned will be the same as the current rate for your Select & Pay Later feature). You still have the option to pay your balance off in full each month.

No Enrollment Fee

There is no fee to enroll and you will continue to enjoy all of the benefits of your Card.

Enrollment Bonus

10,000 Membership Rewards points if approved by 05-13-2017.

---

I'll see your 2017 and raise you a 2005 (card opened 2002 as The American Express Card with Membership Rewards, though).

I didn't feel like making a new screenshot; APR is back to a "low" 15.24%.  You are the real winner because "Select and Pay Later" was added to both cards in 2005 and they didn't give me free MRs.

[kdm31091]

They've been slowly blurring the lines between the revolvers and the charge cards. With this change, is there even much of a difference anymore? I guess the limit still won't be reported to the bureaus?

It could end up mattering to the "credit card crowd", since the Amex rule for max. cards is currently 4 revolvers, and 10 charge cards, per person. But is the distinction vanishing?

[Anonymous]

my platinum is already enrolled in the POT program so i missed out on the member points.

[Anonymous]

I guess it doesn't hurt to offer Plan It option to Charge cards, people can still treat them as Charge Cards and PIF if they so choose. Though I don't really know why it's needed, since Amex already offers so many actual Credit Cards. IMO there's already enough posts complaining about their issues with Gold or Plat when it comes to spend and limits, how will this affect those who want to carry a balance yet then be unable to charge because they're htting the internal limit wall? Sounds like anothe round of similar thread will pop up.

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@K-in-Boston wrote:

Interesting if Pay It/Plan It is coming to charge cards, though.

---

Migth be a nice feature if they offered it on Bussiness Cards.

[longtimelurker]

Since I don't have any charge cards any more, please help me understand:

"The first option, Pay It®, lets you pay off small purchase amounts under $100 before your statement closes, making it easy to keep your balance down."

How is that different from paying some early on any card?  Does it tie to a particular transaction ("You paid off your purchase at Honest Bob's Hot Goods Market") and if so, does that matter!

[K-in-Boston]

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@longtimelurker wrote:

Since I don't have any charge cards any more, please help me understand:

"The first option, Pay It®, lets you pay off small purchase amounts under $100 before your statement closes, making it easy to keep your balance down."

How is that different from paying some early on any card?  Does it tie to a particular transaction ("You paid off your purchase at Honest Bob's Hot Goods Market") and if so, does that matter!

---

It really is no different than just making an early payment, except if you are carrying a balance the payment will apply to that specific charge rather than the normal CARD Act rules.  Yes, it applies to that specific transaction and really I don't see a need for it.  The only reason I can see to do it on a charge card is if you have a Plan It or POT balance and want to reduce the amount you will owe on the next due date.  Otherwise I have a hard time wrapping my head around why anyone would want to do it.