What is the equal pay option and is this better than using special financing?
Answered on Wednesday, May 11th, 2016 by
Amy Miller

The equal pay option offered by the Amazon card could be a better option than special financing but I also wouldn’t consider it a good option. The equal pay option takes your promotional eligible purchases and splits them into 12 equal monthly interest-free payments. When thinking of this option keep in mind that your monthly payment will be significantly higher than a minimum monthly payment of a non-promotional item. Also you will have to make a minimum monthly payment for non-promotional items in addition to your twelve equal monthly payments. Being that this card has a high APR, there is not much benefit to no interest on part of the bill if it causes you to pay less of the bill with the high APR. A better option would be a card that has a promotional 0% interest rate or even a card with a low ongoing rate.

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No. You can make only minimum payments each month. You can see the amount of your minimum payment (as well as balance and available credit limit) on your credit statement, which you should receive each month.

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Special financing at Dillard’s is done through their credit card. So you would need credit that is worthy of receiving their card. Which I would expect to be fair credit in the least. However, I would avoid any kind of special financing. It is usually associated with hefty fees and penalties. Many store cards advertise […]

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