American Express Plan It is a feature for eligible Amex cardholders that allows them to split large purchases (typically $100 or more) into fixed monthly payments with a set fee instead of accruing interest. Cardholders can choose from one to three payment plan options, with durations typically ranging from three to 24 months. Instead of paying variable interest, a fixed monthly fee is charged, which often results in lower costs compared to paying interest on the purchase. To use Plan It, cardholders log into their Amex app or online account, select eligible purchases, and create a plan selecting the repayment duration and fee. Up to 10 plans can be managed simultaneously, and it even allows combining multiple purchases into a single plan (up to 10 purchases) when done online. The monthly fee depends on the plan length and the card's APR. Customers continue to earn rewards on purchases paid through Plan It. In contrast, Amex's Pay It feature is for smaller purchases under $100, allowing cardholders to pay off these charges quickly throughout the billing cycle without interest or fees. In summary, Amex Plan It is like a buy now, pay later financing option embedded into the Amex credit card, helping to avoid fluctuating interest rates by paying large purchases in installments with a fixed fee.
