Blog

Home » BNPL » My Chase Plan
Based on research and not influenced
This is based on research, and not influenced. However, we may earn a commission if you buy through links on this site.

My Chase Plan Allows You to Pay Later & Here’s Its Fee Calculator

My Chase Plan allows you to buy now and pay later if you have a Chase Bank credit card but it comes with a fixed monthly fee.

The benefits of buy now pay later as an add-on to credit cards is a growing trend to enable you to enjoy payment splitting for your purchases.

Many banks have their own financing products with a popular one being the Flex Pay by Citi. There is also an alternative for American Express credit card users called Amex Plan It and with My Chase Plan, you can enjoy similar service as a Chase Bank customer.

My Chase Plan

My Chase Plan

Credit Check

None

Min. Value

$100

Max. Value

Varies


Tip: My Chase Plan is a buy now, pay later add-on from Chase Bank and it is connected to your existing profile hence, you do not need a new account if you currently have a credit card.

 

From being able to pay with Chase Ultimate Rewards at Amazon.com to earning points you can use for perks like discounts on travel and gift cards for shopping, the Chase credit card has its benefits.

Increasing the advantages that come with having this card, there is now the add-on enabling you to enjoy your credit line for more purchases through its My Chase Plan.

Being a buy now pay later option with no credit check required for existing account holders, it is a great option for Chase Bank customers and interestingly, this is available to use everywhere provided the purchase amount is $100 or more.

What is My Chase Plan Fixed Fee Financing Charge?

 

My Chase Plan fixed fee charge is 1.72% on a monthly basis but the APR could rise to 29.22% if the full balance is not repaid before the due date.

You can actually avoid paying this fee by paying your current balance very early which will prevent you from incurring any future charges for the plans you have created.

My Chase Plan Calculator

 

To estimate the cost of your My Chase Plan orders, use the calculator below:

Two columns
Vertical
Horizontal
My Chase Plan Calculator
Summary
Name Total
"{{getWooProductName}}" has been added to your cart
Have a promocode?
Promocode Hide Show

Note: while we have built this calculator using the fees and APR specified by Chase Bank, this is for estimation only as the final cost might differ at the provider’s end.

Nonetheless, we will continue to track changes and adjust to ensure you are able to correctly estimate the overall cost before you add a transaction to your My Chase Plan list.

How to Calculate My Chase Plan

 

Here is a guide on using the My Chase Plan calculator to estimate the cost of your order list:

 

Amount

The amount field is for the value of the purchase you made with your Chase credit card.

In case you do not know, My Chase Plan works with already existing transactions, and for any to be eligible to be added to your buy now pay later list, the value must be up to a minimum of $100.

If you have bought and paid with your card for a product that cost $500 then, that is the value to be entered into the amount field.

Currently, it has a default value of $100 which you can alter and enter your own transaction amount.

 

Fee

My Chase Plan has a monthly fee of 1.72% which is already prefilled hence, you do not need to change it unless you think that has been reviewed by Chase Bank.

 

Other Fees

The other fees field is empty by default and can be used to add other applicable charges like if you have incurred any late penalty fee where applicable.

 

Months Toggle

This selector allows you to drag the slider to match the number of months you intend to have a My Chase Plan running.

It is limited to 24 months since that is the maximum number of months available for any My Chase Plan.

This selector is currently set to 3 months and you can reduce or increase it depending on your intended period.

 

Monthly Repayment

This field will show how much you will pay back on a monthly basis if you intend to keep the My Chase Plan running until the last day of the set period.

 

APR

In fact, there is an annual percentage rate that applies to using My Chase Plan if you keep paying the monthly fee through your set period which could rise up to 29.22%.

The below shows the estimate of the APR depending on the selected plan period:

  • 3 Months: 4.91%
  • 6 Months: 9.35%
  • 12 Months: 17.11%
  • 24 Months: 29.22%

 

Total Repayment

The total repayment basically shows the total amount you will pay if you see through the My Chase Plan period or clear the full balance in the middle of the tenor.

Dragging the months’ toggle feature will adjust this value to match how much you will pay when paying at any point in the course of the plan period.

Where Can You Use My Chase Plan to Buy Now, Pay Later?

 

If you have the Amazon Chase Prime Visa Card, the buy now pay later service is already available to you for use at thousands of merchants directly through Amazon Pay.

For other users, it is a postpaid splitting model; you will need to do a transaction with the card first of $100 and above then, you can log into your account and select the transaction to add it to your My Chase Plan list.

With this model, you can use your card almost everywhere and enjoy the buy now pay later add-on in addition to your existing credit card benefits.

 

How to Use My Chase Plan to Buy Now, Pay Later

 

If you have a Chase Credit Card, here is how to utilize My Chase Plan for making installment payments:

My Chase Plan on App

 

Log into your Chase Account

Since the functionality is built into your existing account, you will need to sign in to access this functionality.

You can use either the website or the mobile app if you have it installed on your device.

 

Go to your account activity or My Chase Plan dashboard

Choose the menu items and click on the “Transaction History” button to view a list of all your credit card purchases.

If you are logged in to the Chase.com portal, simply navigate to the My Chase Plan dashboard.

 

Select any eligible transaction with a total spent value of up to $100


Please note that this functionality is only available for transactions that are $100 or more. Transactions ranging from $0.1 to $99 are not eligible.

Review your transaction history, choose one that meets the minimum amount requirement, and proceed accordingly.

When viewing the transactions, you will see a tag “Pay over time” indicated for any eligible purchases that can be added to your list.

If you are accessing the portal, selecting the Create a Plan option on the My Chase Plan dashboard will only show a list of eligible transactions.

 

Select the ‘Create a Plan’ option

After selecting a transaction, you will see the “Pay over time” option, enabling you to convert it into a buy now, pay later transaction.

To initiate the process of creating your My Chase Plan order list, simply click on this option.

 

Choose your preferred duration

Once you click the “Create a Plan” feature, you will be presented with a list of available duration options, including 3 months, 6 months, 12 months, and 24 months.

It is important to note that the specific duration options displayed may vary based on your account and other factors determined by Chase Bank.

 

Take a moment to review and confirm

 

Before submitting your My Chase Plan request, it is important to thoroughly review your selection, including any applicable fees, to ensure it aligns with your expectations.

Once you are satisfied with all the details, including the contract terms, proceed to submit the request to convert the purchase into a buy now, pay later transaction.

Benefits of My Chase Plan

 

Below are some of the benefits that come with using the My Chase Plan:

 

You already have access if you have a Chase Bank account

If you are an existing Chase account holder, there is no need to create a new account to access this feature. It is readily available to you for purchases of $100 and above.

Just sign in to your existing account to start using it.

 

You can use it anywhere the Chase card is accepted

With Chase credit cards either powered by Visa or Mastercard, you can use the card almost everywhere and you will be able to split the purchase payments later once logged into your account.

So, there is no limitation as to which merchant supports this feature since it is a postpaid buy now pay later service.

 

There is no credit check involved

Your creditworthiness for the My Chase Plan buy now, pay later feature is assessed using your existing account history.

There is no need for a separate credit inquiry, making it a convenient option if you prefer to avoid the soft credit checks typically conducted by most split payment services.

 

Reduced fee for extended-term financing

The feature functions as a monthly installment financing tool with a fixed fee, which is included in your Minimum Payment Due on your billing statement.

This can be a cost-effective option in the long run as it does not involve a percentage (APR) charge, which is common with many other deferred payment services.

 

You can also split transactions done in store

You can also apply this feature to all qualifying transactions made with your credit card in physical store locations.

Given that Chase cards are widely accepted, this tool is highly valuable for in-person transactions when you wish to defer payment for specific purchases.

 

Enjoy your existing card benefits

Chase credit cards are renowned for their exceptional rewards program, which enables you to accumulate points for discounts and various benefits.

With the My Chase Plan feature, you can continue to enjoy these rewards while also having the flexibility to manage the costs of your purchases.

This ensures that you can use your credit balance for other essential expenses as well when you have some previous transactions on buy now pay later terms.

 

No additional effort needed

Conventional pay-in-4 providers often necessitate extra steps to use your purchase credit for transactions at locations where they are not directly accepted.

This may involve obtaining virtual buy now pay later cards, installing browser extensions, shopping through in-app merchants, and more.

With My Chase Plan, these additional steps are not necessary.

You simply need to log into your account, choose the transaction you wish to extend the payment for, and it will be applied if it meets the eligibility criteria.

My Chase Plan FAQs

 

Here are some common questions and answers about using My Chase Plan:

Which Chase credit card is eligible for My Chase Plan?

If you have the following Chase credit card, you can use the My Chase Plan feature on your account for payment splitting:

Aeroplan Card
Chase Freedom
Chase Freedom Unlimited
Chase Freedom Flex
Chase Freedom Rise
Chase Freedom Student
Chase Sapphire
Chase Sapphire Preferred
Chase Sapphire Reserve
Chase Slate
Chase Slate Edge
Aer Lingus Visa Signature Card
British Airways Visa Signature Card
Iberia Visa Signature Card
Disney Visa Card
Disney Premier Visa Card
DoorDash Rewards MasterCard
World of Hyatt Credit Card
IHG One Rewards Classic Credit Card
IHG One Rewards Premier Credit Card
IHG One Rewards Select Credit Card
IHG One Rewards Traveler Credit Card
Instacart Mastercard
Marriott Bonvoy Bold Credit Card
Marriott Bonvoy Boundless Credit Card
Marriott Bonvoy Bountiful Credit Card
Marriott Bonvoy Credit Card
Marriott Bonvoy Premier Credit Card
The Ritz-Carlton Credit Card
Southwest Rapid Rewards Credit Card
Southwest Rapid Rewards Plus Credit Card
Southwest Rapid Rewards Employee Credit Card
Southwest Rapid Rewards Premier Credit Card
Southwest Rapid Rewards Priority Credit Card
Starbucks Rewards Visa Card
United Club Infinite Card
United MileagePlus Awards Card
United MileagePlus Card
United MileagePlus Select Card
United Explorer Card
United Gateway Card
United Presidential Plus Card
United Quest Card

What is the minimum and maximum amount to use My Chase Plan?

For all My Chase Plan eligible transactions, there is a minimum value requirement of $100.

However, the maximum amount you can use for this plan depends on your credit balance limit, with the restriction that it will not exceed 95% of your available credit line.

Does My Chase Plan reduce balance?

No, My Chase Plan does not decrease your credit balance. Instead, it will temporarily readjust it higher when you add a purchase to your buy now, pay later list.

For instance, if your total credit limit is $2,000 and you make a purchase of $150 and then choose to convert the $150 transaction into a My Chase Plan order, your $2,000 credit line will be reinstated.

However, the associated fee will be applied at the end of the billing cycle.

How many My Chase Plan transactions can I have?

The maximum number of active My Chase Plan transactions can vary depending on your account and creditworthiness, but in most cases, users are limited to a maximum of 10 active My Chase Plan transactions.

Does My Chase affect credit score?

My Chase Plan assesses your eligibility based on your existing account creditworthiness and does not involve any new credit bureau inquiry.

Therefore, it will not impact your credit score, as neither a soft nor a hard inquiry is conducted.

How many months can I have My Chase Plan set for?

The My Chase Plan offers durations ranging from 3 months to 24 months. However, the specific plan duration accessible to you is determined by your account history, creditworthiness, and other factors assessed by Chase Bank.

How can I see My Chase Plan transactions?

When you log into your Chase account online, you can access your active order list by navigating to the My Chase Plan dashboard. Likewise, when using the app, you can view your existing plans within the My Chase Plan page.

Additionally, your monthly billing statement provides a breakdown of your ongoing plans in the My Chase Plan section.

Why can’t I access My Chase Plan on my account?

There are several reasons that could be preventing you from seeing the My Chase Plan feature for some or all of your transactions.

Some factors causing this include:
1. Your credit card: note that not all credit cards are eligible for this feature hence, you might need to check the list of eligible credit cards above to determine if your card type is there.

2. Age of the transaction: all eligible My Chase Plan transactions cannot be older than 90 days. Check the date to understand if the reason is due to this.

3. Disputed: if the purchase has been disputed or claimed as fraudulent and other related cases, such will not have the functionality to convert it to a buy now pay later transaction.

4. Amount: the minimum value for any eligible transaction must at least be $100.

5. Settled a portion: if the transaction you want to convert to a My Chase Plan order has already been partially settled from a previous billing cycle, it may not be eligible.

Is My Chase Plan a loan?

No, My Chase Plan is not a loan but an add-on to your existing credit card benefits enabling you to convert transactions into buy now pay later purchases.

Where can I get more information on how this feature works?

Refer to the My Chase Plan documentation to find answers to any other queries or concerns, as it offers valuable insights and explanations.

 

If you are a Chase Bank account holder seeking flexibility in managing expenses, the My Chase Plan provides a good solution.

This tool enables you to defer payments and allocate your existing credit line to address other financial needs while making purchases and settling payments at a later time for transactions of $100 and above.

 

Happiness Crew
Stay Glued!
Latest posts by Happiness Crew (see all)
You are the first in our research hence, we rallies around doing rigorous checks, testing and analysis to help you make a good decision on products and services. Meanwhile, items providers' final views are superior to ours.
0 0 votes
What do you think?
Subscribe
Notify of

0 Comments
Inline Feedbacks
View all comments