On Wednesday August 30 2017, AMEX will introduce Plan It and Pay It for its credit card portfolio (not charge cards)
Plan It is a way to select certain charges to finance. I guess the catch here is one would know how much that financed charge will cost per month based on the term they pick (3, 6, or 9 payments) and know the fee amount ahead of time.
Pay It is a way to individually pick statement items and choose to pay that charge from your bank account.
On Wednesday, the No. 1 U.S. card issuer by spending will roll out a feature that will allow customers to borrow for big purchases like furniture, medical expenses, airplane tickets or weddings, while separating those balances from everyday items like $2 cups of coffee.
American Express is also adding a feature that will allow customers to immediately pay for small purchases from their bank accounts.
Under the new option as many as 10 purchases of at least $100 each can be siloed into installment plans, American Express said. A $1,000 purchase, for example, could be covered in six monthly installments of $172.18 – costing an additional $33.06, or $5.51 a month, in finance fees. That is virtually the same as AmEx would charge in interest for a revolving balance on the account.
http://www.reuters.com/article/us-am...KCN1B92TW?il=0
https://www.nerdwallet.com/blog/cred...x-new-feature/
I guess this is another way to help folks manage their credit.