Sydney Garth, Credit Cards Moderator
@sydneygarth
The Chase “Pay Over Time” program (formerly “My Chase Plan”) allows you to pay off eligible purchases made with your Chase credit card in fixed monthly installments. You can choose to set up this payment plan either after making an eligible purchase from any merchant or when checking out on Amazon.com.
This program provides a way to manage larger purchases and spread payments over time, without accruing your usual interest—only a fixed monthly fee or a fixed APR. The monthly fee is based on various factors including the purchase amount and the length of time you have to pay off the purchase.
How the Chase “Pay Over Time” Program Works Normally
- Use your Chase credit card to make a purchase of $100 or more.
- Sign in to the Pay Over Time dashboard or the Chase Mobile app.
- Pull up your transaction history.
- Choose an eligible transaction of $100 or more.
- Choose the payment plan that works best for you.
- Make equal monthly payments – with a monthly fee.
How Chase “Pay Over Time” Works on Amazon.com.
- Add your participating Chase credit card to your Amazon.com wallet.
- When your Amazon cart totals $50 or more, select your Chase credit card and look for "Financing offers available" during checkout.
- Choose a plan duration and pay off the purchase over time.
- The financing will have a fixed APR, which can be the same or lower than your standard variable purchase APR.
Keep in mind that eligible purchases cannot be older than 90 days and cannot be disputed, fraudulent, or part of another special financing plan. Plans can range from 3 to 24 months, and you can have up to 10 active or pending plans on your account at one time.
Chase “Pay Over Time” Pros and Cons
| Pros | Cons |
| Easy to sign up for | Smaller charges don’t qualify |
| Available on most Chase credit cards | Might encourage overspending |
| No interest charged on your plan (unless you choose the fixed APR for Amazon purchases) | The fixed monthly fee can become more expensive than interest as the balance on your plan gets lower |
| Still earn rewards for purchases you choose to pay off with Chase “Pay Over Time” | Once you create a plan, you can’t change or cancel it |
The Chase “Pay Over Time” program sounds like it could save you money because the fixed monthly fee is rather low. However, before you decide to use this program, run the numbers to see if it’s the best option for you. Please note that the fee stays the same even as your balance drops, unlike interest which would decrease with the balance over time.
Popular Chase Credit Cards
-
Sign-Up Bonus
-
Frequent Travelers
-
Low APR and Rewards
-
Low Interest:
People also ask
Can I opt out of My Chase Plan?
No, unfortunately you cannot opt out of a My Chase Plan. Once the plan is created, you will not be able to change or cancel it. However, it is possible to pay your plan off early, without incurring any penalties or future fees for that plan, by paying your statement balance in full.
If you miss a payment for your plan, the amount due will be added to the next month’s statement. You might...
read full answer by John Miller, Credit Cards ModeratorWhat is the minimum payment for Chase credit card minimum payment?
The minimum payment for Chase credit cards is any past-due amount, plus either $40 or 1% of the statement balance plus any interest and fees - whichever is higher. If the statement balance is less than $40, the Chase minimum payment will be equal to the balance. In addition, if you recently missed a payment, Chase may add a late fee to your minimum payment.
The Chase minimum payment is the smallest amount you’re...
read full answer by Paddy Sullivan, WalletHub Credit Card AnalystHow much is the My Chase Plan fee?
The My Chase Plan fee is 1.72% of each eligible purchase selected to create a plan. The exact dollar amount of the fee is determined each time a new plan is created, based on factors such as the purchase amount and the repayment term, and the fee is charged monthly. The monthly installments will stay the same throughout your repayment period.
It's important to note that My Chase Plan works only for eligible purchases...
read full answer by Chip Lupo, Credit Card WriterDid we answer your question?
Important Disclosures
Ad Disclosure: Certain offers that appear on this site originate from paying advertisers. For full transparency, here is a list of our current advertisers.
Advertising impacts how and where offers appear on this site (including, for example, the order in which they appear and their prevalence). At WalletHub we try to present a wide array of offers, but our offers do not represent all financial services companies or products.
Advertising enables WalletHub to provide you proprietary tools, services, and content at no charge. Advertising does not impact WalletHub's editorial content including our best picks, reviews, ratings and opinions. Those are completely independent and not provided, commissioned, or endorsed by any company, as our editors follow a strict editorial policy.