How Chase Cardholders Can Split Up Large Payments and Avoid Interest Charges

Stop paying interest on large credit card purchases and find out how to use the convenient My Chase Plan tool.

Some people find themselves using credit cards to cover the cost of larger purchases. Having a credit card available can make it easier to buy what you need, even if you don't have the cash on hand. But if you don't pay your card balance off in full quickly, interest charges can add up fast. The good news is that Chase cardholders can take advantage of a new tool that will make it easier to split up large payments without paying interest charges.

A way to spread out your payments

Chase now has a program called My Chase Plan, making it easier to pay off your purchase debt without paying interest charges. This program is easy to use and functions as a buy now/pay later system.

How does it work?

My Chase Plan is available for qualifying purchases of $100 or more. You'll use your Chase credit card as you usually would to make your purchase, and once it's listed on your recent transactions, you'll be able to select it and choose "Pay with My Chase Plan." Chase will present you with several payment plan options with plan durations ranging from three to eighteen months. Chase will break up the payments into equal monthly payments. You'll be charged a fixed monthly fee but no interest charges.

Where can I access My Chase Plan?

This feature is accessible via the Chase website and mobile app.

What is the fixed monthly fee?

This fee depends on the total purchase price and terms of your payment agreement.

How do I make my payments?

You won't need to make separate payments. Instead, your monthly My Chase Plan payment will be added to your minimum payment each billing cycle.

What credit cards offer this program?

My Chase Plan is available on most Chase credit cards. You can verify whether your Chase card has this feature by checking Chase's answers about this tool on its frequently asked questions page.

Take advantage of this helpful tool

Using My Chase Plan is an excellent way to manage the cost of an unexpected expense. Americans pay nearly $1,000 in credit card interest charges each year. Don't do that! Spending responsibly and avoiding unwanted charges can help you keep your financial health in order. If you're in the market for a new card, check out our top credit cards to find the right card for your needs.