Plan Transactions: Purchases that post to your Account will be placed into a payment plan to be paid back over time (each, a “Plan”): Every purchase that posts to your Account during a billing cycle that is $100 and over will immediately and automatically be divided into 3 payments and placed into a Plan to be paid back over 3 billing cycles, starting with the billing cycle after the date the purchase posts to your Account. Prior to the end of the billing cycle in which a Plan has been set up, you may log into online banking (usbank.com) or the U.S. Bank mobile app, or use channels that we make available in the future, to extend the repayment period. We will charge a Plan Fee for longer repayment periods, which will be disclosed when the Plan is extended. Pending (not final, posted) transactions that are $100 and over will be automatically divided into 3 payments and placed in a Plan that may be extended prior to the end of the billing cycle. In most cases, after the final transaction posts to your Account, if it is $100 or over, the monthly Plan payment amount, including applicable Plan Fee, will be adjusted to reflect the final amount. If the posted transaction is less than $100, it will be added to the Small Purchase Plan (defined below) for that billing cycle. In some cases, the pending transaction Plan you extended may revert to a 3-month Plan when the final transaction is posted to your Account, in which case, you will need to re-request the extension prior to the end of the billing cycle to reflect your requested repayment period. Plans with posted transactions that are $100 and over that have been extended are final. Purchases that post to your Account during a billing cycle that are under $100 will be combined into one Plan (“Small Purchase Plan”) at the end of the billing cycle and automatically divided into 3 payments to be paid back over 3 billing cycles, starting with the billing cycle after the date the Small Purchase Plan is set up. The duration of the Small Purchase Plans may not be extended. Plan durations may not be shortened, unless you pay off your Plan balance.
Disclosure