Disclosure
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. U.S. Bank does not control when purchases post to your account or the amount of those purchases. If a purchase posts on the same day as your billing cycle, you will not be eligible to select a plan duration of 6 or more months. The purchase will automatically be divided into three payments and placed into a 3-month payment plan.
- 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.