Credit Cards that have a promotion of paying on more than 21 days like 0% Plan It through AMEX??

I don't know of any Canadian cards, but Amex in the U.S. has the Plum card which allows you 60 days: https://www.americanexpress.com/us/cred ... card-amex/

No fee like Amex?
Probably not.
MBNA cards can do instalment plans with 0% interest, but the plan fees are high.


This is just an example, they also have a 6 month plan for 4% fee.
These of course are longer terms than the 3 months you were looking for.
Many credit cards offer instalment plans these days, with a variety of fees and interest rates, they’re all different.
But for short term financing (3 months) Amex is where it’s at.

I got the promotion on my Amex Cobalt.
0 fees on the 3-month plan.

EdisonL299 wrote: ↑ I got the promotion on my Amex Cobalt.
0 fees on the 3-month plan.

what's the interest rate?

LOL808 wrote: ↑ what's the interest rate?

No interest, no fees.

ScotiaBank Momentum Visa Infinite offers me 3 or 6 months 0% interests, $0 monthly fee installment plan, even 12 months with 0% interests & 4.5% Select Pay fees, that's my favourite card so far in terms of installment plan.

coolintheshade wrote: ↑ No fee like Amex?
Probably not.
MBNA cards can do instalment plans with 0% interest, but the plan fees are high.

I think MBNA has a similar plan offer as TD, TD is 4%/6%/8% for 6, 12, 18 monthly plans. Not recommend CIBC and Brim, their monthly fee is even higher than MBNA & TD.

Amex is also the only card (I believe) that you can turn the entire statement balance into an instalment plan.
The others you have to select individual purchases over a certain amount, and turn them into instalments.
This has both pros and cons I suppose.

ccya965041 wrote: ↑ ScotiaBank Momentum Visa Infinite offers me 3 or 6 months 0% interests, $0 monthly fee installment plan, even 12 months with 0% interests & 4.5% Select Pay fees, that's my favourite card so far in terms of installment plan.

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I think MBNA has a similar plan offer as TD, TD is 4%/6%/8% for 6, 12, 18 monthly plans. Not recommend CIBC and Brim, their monthly fee is even higher than MBNA & TD.

This is exactly what I am looking for. Any idea if any other cards from Scotiabank with no minimum income requirement that has this offer? TIA

meanttobegreat wrote: ↑ This is exactly what I am looking for. Any idea if any other cards from Scotiabank with no minimum income requirement that has this offer? TIA

https://www.scotiabank.com/ca/en/person ... ctpay.html

Any eligible credit card listed in the website can create instalment plan, but 0% interests & $0 monthly fee is completely YMMV, noted I used the card only half year to get this offer, and it’s still valid today. (They didn’t set end date)

meanttobegreat wrote: ↑ Hello, I was wondering if there are any cards that allow you to pay the amount due on more than 21 days just like the 0% Plan It through American Express that allows you to divide the Statement on 3 months without Fees. I am okay with paying a fixed $ amount but not a percentage (like those of balance transfers) but hopefully no fees like AMEX. If anyone knows cards that allow that please share. Thanks in advance

This is a niche which is filled mostly by fintech at the moment, even though traditional lenders are slowly moving into this space. It's a BNPL (buy now pay later) service which is offered by companies such as Klarna, Afterpay, Paybright, Affirm and other smaller players. You can usually get an interest-free plan for four equal payments made every two weeks, or longer terms with fixed interest rates. Lending is unsecured and managed by proprietary algorithms rather than credit score.

Be aware that BNPL is a pathway to debt just as much as any credit card, and there are real consequences if you default. It's a bad idea to become dependent on such payment methods for any non-essential purchases.

Does it count as missed payment or not full payment when you do this on your credit report ?

ccya965041 wrote: ↑ https://www.scotiabank.com/ca/en/person ... ctpay.html

Any eligible credit card listed in the website can create instalment plan, but 0% interests & $0 monthly fee is completely YMMV, noted I used the card only half year to get this offer, and it’s still valid today. (They didn’t set end date)

Thank you. I guess I will go with the no fee momentum.

ufcdeals wrote: ↑ Does it count as missed payment or not full payment when you do this on your credit report ?

No I checked the TU and it does not show as missed payment, of course it will carry the balance. I cannot see there is an impact for credit score.