Chase Pay Over Time℠ after purchase: What is it and how does it work?
Quick insights
- Chase Pay Over Time after purchase allows cardmembers to pay off eligible purchases of $100 or more over time.
- Pay Over Time plans started after a purchase don’t accrue interest; instead, cardmembers pay a fixed monthly fee.
- Plans range from 3-24 months and can be paid off early without penalty.
Chase Pay Over Time lets Chase cardmembers break up eligible credit card purchases into equal monthly payments and pay them over time. In this article, we’ll explain Chase Pay Over Time after purchase, how it works and its potential benefits.
What is Chase Pay Over Time after purchase?
Chase Pay Over Time is a feature of many Chase credit cards that enables you to break up a purchase you’ve already made of $100 or more into budget-friendly payments. Choose from up to three flexible payment durations that work for you and your budget. A Pay Over Time plan for an existing purchase doesn’t accrue interest. Instead, there’s a fixed monthly fee.
This “buy now, pay later” product is easy to set up and may offer you financial flexibility when you have made a larger purchase, while also helping you manage your cash flow.
How does Chase Pay Over Time after purchase work?
After you make a purchase, it posts to your Chase credit card account. You may view your account activity by signing in to chase.com or the Chase Mobile® app.
For eligible purchases, an option to “Pay over time” will appear next to the transaction. The availability and plan options may depend on your card, account history, purchase amount and creditworthiness.
Setting up Pay Over Time plan after purchase
Here’s how you can set up a Pay Over Time plan for an eligible purchase on your credit card:
- Use your Chase credit card to make a purchase
- Sign in to chase.com or the Chase Mobile app
- View your transaction history
- Choose an eligible transaction
- Choose the payment plan that works best for you
Which purchases are eligible
Eligible purchases made with your Chase credit card will have a “Pay Over Time” option next to the transaction amount in your account activity. Not all transactions of $100 or more are eligible, such as:
- Cash-like transactions, such as cash advances
- Any fees owed to Chase, including annual membership fees
- Purchases made under a promotion
A list of eligible purchases will also be viewable on the Chase Pay Over Time dashboard, after you choose “Create a plan.”
Plan durations
The duration of a Pay Over Time plan can range from 3-24 months. When setting up a plan, you will see up to three different plan durations. They vary from purchase to purchase, but each option will be for a different time period and different monthly plan fee. Monthly payments include the monthly plan balance, which includes the monthly plan fee.
Early payoff
Once your Pay Over Time plan appears on your credit card statement, the plan can be paid off early without any penalties or future fees for that plan. To do so, pay the full statement balance. To pay off a plan before it appears on your statement, pay your current balance.
What happens if I miss a payment?
Your plan will stay active even if you miss a payment. That past-due payment will then be added to your minimum payment due on your next month’s statement.
Note that if you don't make your minimum credit card payment by the due date, you may receive a credit card late fee. Please review your card’s terms and conditions for information about late fees.
Missed payments may also prevent you from paying off your plan within the period you chose when you set up the plan. That may result in additional monthly installment fees. The Pay Over Time plan fee will be charged every month until you’ve paid the plan balance in full, regardless of whether you miss a payment.
What are the benefits of Chase Pay Over Time?
A Pay Over Time plan may be beneficial when managing a budget. Its defining feature is to help you make a purchase with your credit card, then pay it overtime in installments with no interest—just a fixed monthly fee. Plus, you may be able to have up to 10 active plans on a single credit card account and you'll still earn rewards on the original purchase amount.
Considering these benefits, setting up one or more plans could be a great opportunity, depending on your current budget and lifestyle. An added benefit? No credit check needed.
Does Chase Pay Over Time affect my credit score?
Setting up a Chase Pay Over Time plan doesn’t directly affect your credit score. Once you set up your plan, the monthly plan payment is automatically added to your minimum payment due each billing cycle. If you pay at least your minimum payment when it’s due each billing cycle, you’ll pay off the plan balance on time.
Paying your minimum monthly payment is important to maintaining and building your credit score. For resources and tools to help you manage your credit, try Chase Credit Journey®. It’s free, even if you don’t have a Chase account.
In summary
With Chase Pay Over Time after purchase, you may pay off a purchase you’ve already made over time in monthly payments. There’s a fixed monthly fee but no interest for the purchase once it’s put in a plan. You can start a plan for an eligible purchase at chase.com or the Chase Mobile app—just view your credit card transactions or access the Chase Pay Over Time dashboard.
Learn more about Pay Over Time features and find out if you have an eligible credit card.
