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Chase Pay Over Time®

Know what you need to pay to avoid interest on new purchases and take advantage of your Pay Over Time plan

If you normally pay your credit card balance in full to avoid interest, you can choose to pay the Interest Saving Balance payment option. It will tell you exactly what to pay to avoid interest on new purchases and avoid paying off your Pay Over Time® plan earlier than intended.

 

Interest Saving Balance infographic

Here's how it works:

Say, for example, you have a total account balance of $1,102.75 — that’s $500 in new purchases plus a $602.75 Chase Pay Over Time plan balance. Here’s how we calculate the Interest Saving Balance, the amount you pay to avoid interest charges on your new purchases next statement:

Example: for illustration purposes only. Assumes no prior balance.
How Interest Saving Balance works infographic

Answers to frequently asked questions

Below are answers to questions you may have about how to manage your account balance(s) to avoid interest payments.

Interest Saving Balance is the amount you need to pay each month by your due date to avoid interest on new purchases. If you have a Chase Pay Over Time balance, you can take full advantage of Pay Over Time and avoid paying interest on your new purchases by paying your Interest Saving Balance. The Interest Saving Balance will include your monthly Pay Over Time plan payment, which consists of your principal payment and fee.

The Minimum Payment Due is the minimum monthly payment amount due for your account. Paying this amount will keep your account current, but you may incur interest charges.

 

The Monthly Statement Balance (or “New Balance” on your paper statement) is the total balance as of your account statement closing date. This amount will include your entire balance (balance from purchases + your Pay Over Time balance).

 

The Interest Saving Balance is a simple way to know what you need to pay to avoid interest on your new purchases and still get the benefit of Pay Over Time. This amount will include your current statement new balance, minus your total Pay Over Time balance, plus your monthly payment due for your Pay Over Time plan.

If you would like to avoid interest on new purchases and still take full advantage of your Pay Over Time plan, you can accomplish this by paying your Interest Saving Balance. The Interest Saving Balance will include your previous account balance, new account activity appearing on your most recent statement, including fees and interest, and your Pay Over Time plan monthly payment due. Alternatively, you can continue to pay your Minimum Payment Due or an amount between your Minimum Payment Due and your Interest Saving Balance to keep your account current and avoid paying off your Pay Over Time plan earlier than intended.

You may see Flexible Financing Offers mentioned on your statement – that term refers to programs like Pay Over Time. These Flexible Financing Offers allow you to pay those balances over time based on their offer terms. Flexible Financing Offers do not include balance transfers, cash advances, and any promotional purchase APR offers that lack an interest-free period.

If your account is currently set up to pay your entire statement balance, change your settings online to ensure you do not pay off your Pay Over Time plan sooner than intended, and lose your Flexible Financing Offers.

 

Choose the Interest Saving Balance payment option to avoid interest on new purchases and avoid paying off your Chase Pay Over Time plan earlier than intended.