What is a Deferred-Interest Promotional Plan?

Deferred-Interest Promotional Plan FAQs

• I'd like to have a deferred-interest promotional plan. How do I get one?
  We're sorry. Deferred-interest promotional plans are not available upon request. You may, however, be offered a deferred-interest plan at checkout when making a specific type of purchase.
• Where can I find information on my deferred-interest promotional plan(s)?
  Promotional plan details, including deferred-interest plans, are listed on your monthly statement in the section called "Details of your plans." You also may refer to the full details of your deferred-interest promotional plan(s), which were given to you when you signed up for the plan(s).
• When I have a deferred-interest promotional plan, how is my Minimum Payment Due calculated?

  Your Minimum Payment Due amount is the total of the required minimum payment on your account, including your deferred-interest promotional plan(s) balance(s) and your revolving (non-promotional plan) balance. For example, if you have a revolving balance and a deferred-interest promotional plan, and if the required minimum payment on your revolving balance is $75, and the required minimum payment on your deferred-interest plan is $25, then your Minimum Payment Due is $100. 

  Note: If you have more than one deferred-interest plan, each plan's minimum payment will be calculated separately. Then each calculated minimum payment will be applied to the corresponding plan as outlined above and in accordance with the details provided to you when you signed up for the plan(s).

• If I pay more than the Minimum Payment Due for my account, will it go toward paying down my deferred-interest promotional plan balance?
  • If you have one or more deferred-interest promotional plans expiring in 60 days or less, the answer is yes. First we will apply your payment toward any minimum due on your revolving balance, and then on the minimum(s) due on your promotional plan(s). Any additional amount will then be applied to the deferred-interest plan that is due to expire soonest.
  • If your promotional plan is not due to expire in 60 days or less, we will apply your payment to any minimum required on your revolving balance and the minimum(s) required on your promotional plan(s). Any additional amount will then be applied to whichever balance has the highest interest rate.
  • To change how your payment is distributed among revolving and promotional plan balances, please make your payment online and follow up with a call to Customer Care at 1-800-695-3988 (TDD/TTY: 1-800-695-1788).
• If I don't pay off a deferred-interest promotional plan in full before the expiration date, how much will I have to pay in finance charges?

  After a deferred-interest promotional plan expires, you will be charged the accrued interest from the date of purchase based on your original purchase amount. Please note that this is not the same as the plan balance on the plan expiration date. You can find these charges by looking at "Total Accrued Interest" in the "Details of your plans" section of your monthly statement

  If your deferred-interest promotional plan has expired, and you are having trouble making your monthly payments, we may be able to help. To determine if you qualify for one of our programs, please contact Customer Care via Secure Message Center or by calling 1-800-695-3988 (TDD/TTY: 1-800-695-1788).

• I made a purchase but it was put on my revolving balance and not on my deferred-interest promotional plan. Can it be fixed?

  It's possible that your purchase was not eligible to be put on your deferred-interest promotional plan, so the transaction was posted to your revolving account instead. If that's not the case and you have questions about your purchase, please contact Customer Care via Secure Message Center or by calling 1-800-695-3988 (TDD/TTY: 1-800-695-1788).

• I have a deferred-interest promotional plan. How can I avoid paying interest on my revolving balance?

  That depends on when the plan is set to expire.

  • If your deferred-interest promotion plan expires in two or less billing cycles, pay both your expiring deferred-interest plan and your revolving balance in full. (Note: Any extra you pay beyond the required minimum for your revolving balance is applied to the expiring deferred-interest plan balance.)
  • If your deferred-interest promotional plan expires in more than two billing cycles, pay the total revolving balance and the Minimum Payment Due found on your monthly statement. (Note: Doing this will mean that pay just a little more than the required minimum for your deferred-interest plan that month.)

  Please be aware that if your deferred-interest promotional plan expiration date is after your Payment Due Date in any billing cycle, extra payments are applied to the expiring plan in the two previous billing cycles, as well as the expiring billing cycle

• How can I avoid paying accrued interest charges on my deferred-interest promotional plan?
  To prevent paying the accrued interest charges on your deferred-interest promotional plan, you must pay the total plan balance in full, on or before the payment due date, and you must pay it during the month in which your plan expires.