In a bid to add appeal for millennials, American Express has introduced two new options for paying with selected credit card accounts.
With “Pay it” users can pay at point of sale with their mobile app and decide to have that purchase paid for out of a linked transaction account immediately, avoiding adding that purchase to their balance.
With “Plan it,” card holders can opt to shift certain purchases over $100 into a fee-based installment plan.
Payments on those purchases can be spread over three to 24 months for the price of the fee, in lieu of interest. Minimum monthly payments associated with the card account would include the monthly installment payment due on any plans set up through the app.
