American Express Introduces 'Plan It' for UK Customers

American Express has introduced a new feature, ‘Plan It’, for its UK credit card holders. This new offering allows customers to repay purchases or a part of their monthly bill in installments.

The ‘Plan It’ Feature

The ‘Plan It’ feature enables credit card customers to select any transaction above £100 or an amount from their most recent statement, and convert it into an installment plan. This plan can extend over a period of 3, 6, or 12 months. While there is a fixed monthly fee for this facility, customers won’t be charged interest on any balance in their installment plan.

Setting Up an Instalment Plan

Setting up an installment plan is simple and can be done through the American Express App or the user’s online account. Once activated, charges associated with the plan are automatically included in the ‘minimum due’ payment each month.

Benefits of ‘Plan It’

Ricky Bonham, Vice President of American Express, highlights the benefits of ‘Plan It’: “Our credit card customers can now pay at their own pace, continuing to earn rewards as they do so on everything from a new vacuum cleaner to their next big holiday.” Bonham also emphasized that as a business regulated by the FCA, American Express takes pride in launching an installment plan that offers transparent fees and no hidden charges.