At least they're trying and by trying I mean they get the same results as the Coyote when trying to catch the Roadrunner. They should rebrand themselves to Acme maybe
Just remember the TOS when naming?
Looks like USB is jumping on the new trend.
Break up big holiday purchases and pay no interest for just a $1 monthly fee. Simply move eligible purchase balances1 from your U.S. Bank Altitude® Reserve Visa Infinite® Card to ExtendPay and take advantage of equal monthly payments with no interest for only a $1 monthly fee – regardless of the amount.
I got this on Cash+ last month, but just got it on AR today good through the 1st of February. Looks like another round is going out.
I looked on the first page for a thread before posting (assuming it was new today) Didn't realize the old round. Don't remember it on my Cash+
I got more emails today, this time for my Altitude Connect and Altitude Reserve. I checked my old messages, and I got a 'reminder' message for my Cash+ back on the 19th.
Like last time, only the AR mentions the $1 monthly fee. The AC and Cash+ both say, "low monthly fee." The AR offer expires on Feb 1, and there's no date on the other two.
I'm not going to bite, but the $1 offer is nice to have.
I received this on my cash+ too, and for the heck of it, I went online to see what its all about. The email said click on "eligible" purchases. I did, and theres no option for this extend pay thing anywhere in my online banking.
Then someone said I have to call into CS to initiate it? Thats not what the email said..
No, you shouldn't have to call.
You have to follow the link, it should take you to your account and from there, if you have eligible purchases over $100, it would ask you which ones you want to include.
There is no "ExtendPay" option within individual purchases, they are shown when link is used.
Once you select purchases, they are totaled and placed in ExtendPay. That's where the doozy starts. It creates a separate tile for it, it has a different due date than card used for funding, but balance on the plan is not reported to CRA
I don't usually use my Cash+ for purchases besides utilities but they had a cashback deal for Nuts.com that I maxed out with a $105 order. Not sure if they are desperately trying to get people to try their BNPL option or what but I got reminders about it both in app and then by email.
Out of curiosity I went through setup in the app and the monthly fee was actually $0. I reread the email and it doesn't say anything about no fees, it has the same "small fee" language mentioned in this thread. So you might want to check for yourself. Or maybe it's because the purchase is so small? Anyway long story short I'm now paying $8 a month for the next year on snacks that will be long gone 😂 (always good to test these features)
@Bockrocker you either got email or will get an email letting you know $0.00 plan fee is available for your accounts.
One is available on my Connect and I got an email letting me know it's available about 5 days later.
The only thing that's changed since this thread started is that now Extend pay plans are no longer separated, so now they report just like normal balance on a card would.
I got the $0 plan fee on Connect (and still milking that $1 plan fee on Cash+) as well. I had already scheduled a payment for the statement balance, but decided to cancel it and do a plan for a couple of larger purchases from the previous statement.
As Remedios stated, they are no longer doing these as separate ExtendPay loans where that portion of your balance is conveniently not reported to the bureaus each month, but rather they have moved to the Amex/Chase/Citi model where you have an adjusted balance that includes your plan payment along with new purchases to avoid interest.
It's been 6 days since I created the plan and still no "adjusted balance" showing on my account. My payment is due tomorrow so I went ahead and paid my statement balance minus the charges I moved to ExtendPay and then a bit extra. Fingers crossed that this isn't an oversight on US Bank's part with this change as it pertains to charges from closed statement periods as I don't want to lose my grace period on everything else this month. I'll report back, but looking at the email, it states: