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News: Credit Cards With 'Buy Now, Pay Later' Features - Credit-Land.com

"Buy now, pay later" options, also known as BNPL, are usually available through services like Affirm, Klarna or Afterpay. BNPL allows you to pay for an item in monthly installments. This makes your monthly payments predictable. Unlike with credit cards, with BNPL you do not delay payments and do not let your debt snowball. Those predictable BNPL installment payments are made to make it easier for you to pay off your purchases.

Today, many credit card issuers start offering their own BNPL options through credit cards. Credit card issuers allow cardholders to choose a BNPL loan to finance their eligible purchases. As a rule, BNPL loans have lower fees or APRs than if you would paid with a credit card and carried a balance. So you can potentially save money.

When you use the BNPL feature of your credit card, you do not need to make separate payments, your installment is added to your minimum credit card payment each month.

Here are credit card issuers who offer the BNPL option to their cardholders:

  • American Express: Plan it®. The program allows eligible cardholders to choose up to 10 qualifying credit card purchases of more than $100 and pay them off in monthly installments. Eligible cards are the American Express® Green Card, American Express® Gold Card, and The Platinum Card® from American Express*.
  • Chase: Chase Pay Over Time® (formerly My Chase Plan). This buy now, pay later option can be used to pay off eligible purchases of $100 or more over a fixed payment term with no interest and only a fixed plan fee. If you check out on Amazon.com, you can use this option for eligible orders totaling at least $50. Chase Pay Over Time is available on most Chase credit cards, such as the Chase Sapphire Reserve® and the Chase Freedom Unlimited®.
  • Citi: Citi® Flex Pay. This installment plan service can be used for eligible purchases of $75 or more. It has a fixed interest rate with monthly installment payments. Eligible Citi credit card members will see the "Eligible for Citi Flex Pay" button within their transactions when they log in.
  • U.S. Bank: ExtendPay® Plan. This BNPL option lets customers pay down purchases of $100 or more with equal monthly payments with no interest during the chosen repayment period, for just a small, fixed monthly fee. Eligible cardholders will see ExtendPay Plan options when viewing their card account details or eligible transactions online.
  • Upgrade cards. Any balance you carry on your Upgrade credit card is automatically converted into fixed monthly payments over a period ranging from 24 to 60 months.

If your current credit card does not offer a 0% intro APR, but you need an extended period to pay for a purchase interest-free, you can check with your credit card issuer if you have a BNPL option with your credit card. This option is especially good for singular, big-ticket items that you truly need right away and aren't able to save over time.

*The information for the following product(s) has been collected independently by Credit-Land.com: American Express® Gold Card, American Express® Green Card, The Platinum Card® from American Express. The card details on this page have not been reviewed or provided by the card issuer.

Disclaimer: This editorial content is not provided or commissioned by the banks or credit card issuer(s). Opinions expressed here are the author's alone, not those of the banks or credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the banks or credit card issuer(s). Reasonable efforts are made to present accurate info, however all info is presented without warranty. Consult with the issuing bank of the card or account for terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are accurate as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.