Plan It™ Instalment Plans
Key Information

Instalment Plans

Plan It Instalment Plans is a feature on your American Express^®Credit Card that allows you to spread the cost of your eligible purchase or an amount in fixed monthly payments over a set number of months. You will pay a monthly fee for an instalment plan but no interest will be charged on the balance in an instalment plan. Details of the fee and other terms will be provided to you before you create an instalment plan. The fee charged is comparable to the interest you would pay if you carried this balance without creating an instalment.

Eligibility to create Instalment Plans

Your ability to create a new instalment plan will depend on an assessment of eligibility made at the time you create an instalment plan. In order to be eligible, you must hold an American Express^® Credit Card, your Account must be in good standing and have an eligible purchase or balance appearing on your current statement or posted to your Account but not yet appearing on a statement.

There may be a number of reasons why you may not be eligible to create an instalment plan including:

If you’ve recently withdrawn cash using your American Express^® Credit Card.

If you’re enrolled in a Financial Support program with American Express.

If you don’t have an eligible purchase or balance amount. Eligible purchases and instalment plan amounts must be a minimum of £100.

You hold a product not eligible for Plan It, such as an American Express^® Charge Card.

When you create a new instalment plan, you will be required to choose an eligible purchase or an amount of your balance of £100 or more and a repayment period. You will be required to repay each instalment plan in accordance with its terms. You may have more than one instalment plan at the same time.

Repayment of Instalment Plans

The monthly instalment amount and fee will be added to your minimum due, therefore your minimum payment will increase.
If you miss a monthly payment for an instalment plan, the unpaid amount will be requested on your next statement as part of the payment due that month. If you do not pay your monthly minimum payment, in full, for two consecutive statements, any instalment plan(s) on the Account will be cancelled.
You can’t overpay an instalment plan. If you wish to repay your instalment plan faster by making a payment larger than the monthly instalment plan amount, you must cancel the instalment plan and make the payment to your main Account balance.

Cancellation of Instalment Plans

Your instalment plan may end early if you decide to cancel it. You can cancel an instalment plan at any time.

We may cancel an instalment plan if:

You are in financial difficulties and we reasonably decide it is in your best interest for the instalment plan to be cancelled.
We identify that, over a period of 36 months, you have paid more in interest and charges on the Account than you have repaid of the amount borrowed.
You miss two consecutive monthly minimum payments.
Your Card agreement ends.

If the instalment plan ends early:

The balance on the instalment plan will be added to your main Account balance and will be subject to the terms of your Card agreement. Interest will be charged on that balance from the day after your next statement.
You will not be charged interest on any instalment plan fees that had been charged but you hadn’t paid at the point the instalment plan ends.
All remaining unbilled instalment plan monthly fees will be waived.
When your American Express Account is closed, any instalment plans on the Account will end, and the instalment plan balance will be added to your main Account balance and be subject to the terms of your Card agreement, including the charging of interest.

We don’t charge interest on an amount that is included in an instalment plan for the duration of that instalment plan unless the instalment plan ends early. Where the instalment plan ends early, we’ll start to charge interest on the balance you owed under that instalment from the day after your next statement. For example, if an instalment plan ends early on 10 June and your next statement date is 18 June, we’ll only start to charge interest on the balance you owed under that instalment plan from 19 June.

Some other things you need to know

If there’s a credit balance on your Account, any excess funds won’t be applied to your instalment plan. You can’t overpay an instalment plan. If you wish to repay your plan early, you’ll need to cancel it so that balance will return to the main Account.
We use any payment you make to pay off your monthly instalment amount and fee in priority to any other amounts you owe us (except for arrears). This includes money you owe for cash withdrawals, which have a higher interest rate than other Card purchases. This means it could take you longer and cost you more to repay your cash balance.
If the interest rate on your Account decreases, it may mean that the fee on your instalment plan is more expensive than the equivalent interest rate you’d pay on your Card.
If a transaction in an instalment plan is refunded or disputed, your instalment plan will not be automatically cancelled. Any refund (when applicable) will offset to your main balance, and not your instalment plan balance. You have the option to cancel your instalment plan at any time with no cancellation fee. You can cancel your instalment plan on your Online Account or the American Express^® App under the View your plans section.