Pay Over Time gives you the flexibility to carry a portion of your statement balance up to your Pay Over Time Limit with interest. The maximum amount you can carry over is called your Pay Over Time Limit and can be found in your account terms or statement. The Pay Over Time Limit is not a spending limit. More information on your purchasing power with no preset spending limit can be found here.

Pay Over Time doesn’t require any activation. To carry a balance on your card, simply make a payment that meets your minimum payment, but is less than your statement balance. At the end of the billing cycle, any remaining Pay Over Time balance will begin accruing interest at your Pay Over Time Purchase APR until paid in full.

Keep in mind your payment behavior, including carrying a balance, can impact your purchasing power. To maximize purchasing power, you should pay your statement balance in full and on time.

You can find your Pay Over Time Purchase APR and Pay Over Time Limit on the Account Details page in your online account and on your monthly statement.

Your payment behavior, including carrying a balance, can impact your purchasing power. With no preset spending limit, your purchasing power will adjust over time based on your spending behavior, payment history, credit profile and other factors. To maximize purchasing power, you should pay your statement balance in full and on time.

To gain further insight into your current purchasing power, use the Confirm Purchasing Power tool.

Your card will be reported as a credit card account with the full payment due each month. Your Pay Over Time Limit is not a credit limit and will not be reported to the credit bureaus. Therefore, this account will not be considered in your credit utilization with revolving accounts.

Your minimum payment is calculated as follows:

• If your balance is less than $25, your minimum payment will be equal to your balance.
• Otherwise, your minimum payment will be:
  • The greater of $25 or 1% of your account balance (excluding the purchase balance in excess of your Pay Over Time Limit, new cash advance transactions, new interest, and new late fees) up to the Pay Over Time Limit
  • Plus, 100% of your purchase balance in excess of your Pay Over Time Limit
  • Plus, 100% of your new cash advance transactions, new interest, cash advance fees, and late fees
• We will also add any past due amount to your minimum payment. If your Account charges off, the entire balance is due immediately.

For an example of how min pay is calculated, see “Could I have an example on how minimum payment is calculated?”

For example, if your Pay Over Time Limit is $30,000 and your account statement “New Balance” is $50,000, your minimum payment would be calculated as follows:

• 100% of purchase amounts over your Pay Over Time Limit = $20,000
• Plus, if applicable, 100% of your new interest, late fees, cash advance, cash advance fees, and past due amount
• Plus, 1% of any remaining account balance up to the Pay Over Time Limit of $30,000 = $300

Resulting in a $20,300 minimum payment.

We reserve the right to change your Pay Over Time Limit and will notify you if this occurs.