Credit cards offer flexibility, but managing large purchases can sometimes feel overwhelming. To help customers, Chase introduced My Chase Plan, a feature that allows you to split eligible purchases into fixed monthly payments with a predictable plan fee instead of standard credit card interest.
My Chase Plan Calculator
What is My Chase Plan?
My Chase Plan is a financing option available on eligible Chase credit card purchases. Instead of paying interest, you pay a fixed monthly fee until the balance is fully paid off. The feature is ideal for cardholders who:
- Want predictable monthly payments
- Prefer a flat fee over variable interest rates
- Need flexibility for larger expenses
How Does the My Chase Plan Calculator Work?
The calculator estimates your monthly payment by dividing the purchase amount into equal installments and adding the fixed monthly plan fee.
Formula
Monthly Payment = (Purchase Amount ÷ Number of Months) + Monthly Plan Fee
Where:
- Purchase Amount = Cost of eligible purchase
- Number of Months = Payment plan length (typically 3–18 months)
- Monthly Plan Fee = Flat fee charged by Chase instead of interest
Total Cost of Plan
Total Cost = Purchase Amount + (Monthly Plan Fee × Number of Months)
This way, you know exactly how much the purchase will cost before committing.
Example Calculation
Imagine you buy a laptop for $1,200 and use My Chase Plan for 12 months with a $10 monthly plan fee.
Step 1: Divide Purchase Amount
$1,200 ÷ 12 months = $100 per month
Step 2: Add Plan Fee
$100 + $10 = $110 per month
Step 3: Calculate Total Cost
$110 × 12 = $1,320
So, instead of paying interest, you pay a total of $120 in fees over one year.
How to Use the My Chase Plan Calculator
- Enter Purchase Amount – Input the eligible credit card charge.
- Choose Plan Length – Select 3, 6, 12, or up to 18 months (depending on Chase’s offer).
- Enter Monthly Plan Fee – Use the fee provided in your Chase account.
- View Monthly Payments – The calculator instantly shows your fixed monthly amount.
- Compare Options – Try different plan lengths to find the most budget-friendly option.
Advantages of Using My Chase Plan
✔ Predictable monthly payments
✔ Lower cost than revolving credit card interest in many cases
✔ No need to reapply for a loan—built into your Chase account
✔ Flexible plan lengths (3–18 months)
✔ Transparency on fees before you commit
When to Use My Chase Plan
- Large Purchases – Laptops, appliances, travel, or furniture
- Budgeting – Spread costs evenly without surprises
- Avoiding Interest – If you typically carry a balance on your card
- Short-Term Financing – Manageable repayment with low monthly fees
Limitations to Consider
- Fees vary depending on your account and purchase amount
- Plan is only available on eligible purchases
- Total cost may be higher than paying in full
- Minimum purchase amount usually applies (varies by card)
- Not all Chase cards offer My Chase Plan
20 FAQs About the My Chase Plan Calculator
1. What is the My Chase Plan Calculator?
It’s a tool that estimates monthly payments and total fees for Chase’s My Chase Plan feature.
2. How are payments calculated?
By dividing the purchase by the number of months and adding a flat monthly fee.
3. What’s the difference between My Chase Plan and interest?
You pay a fixed fee instead of variable interest charges.
4. What purchases qualify?
Only eligible purchases shown in your Chase account.
5. How much is the monthly plan fee?
It varies but is shown in your Chase online or app account.
6. Can I choose the plan length?
Yes, Chase usually offers multiple options, from 3 to 18 months.
7. Does using My Chase Plan affect my credit score?
No, it doesn’t require a hard credit check, but carrying balances may impact utilization.
8. What happens if I pay off early?
You may still owe the total plan fee, as it’s fixed.
9. Is My Chase Plan cheaper than interest?
Often, yes—especially for larger purchases and longer payoff times.
10. Can I cancel a plan once started?
Not typically; you must complete payments as scheduled.
11. Do plan payments count toward the minimum payment?
Yes, but you must also pay other charges on your card.
12. Can I have multiple My Chase Plans?
Yes, if your account allows, you can set up more than one.
13. Is there a minimum purchase requirement?
Yes, Chase usually sets a minimum, such as $100 or more.
14. Does this replace regular minimum payments?
No, you’ll still owe the minimum on other purchases.
15. Do I earn rewards on purchases in My Chase Plan?
Yes, rewards are earned when the purchase is made.
16. Can I use this calculator without exact fee information?
Yes, but estimates are more accurate if you know your plan fee.
17. Is My Chase Plan available on all Chase cards?
It’s available on many, but not all, Chase credit cards.
18. What if I miss a payment?
Late fees and penalties may apply, just like normal credit card payments.
19. Does the calculator show interest savings?
Yes, you can compare fees to estimated interest charges.
20. Is this calculator free?
Yes, it’s completely free to use for Chase customers and anyone planning purchases.
Final Thoughts
The My Chase Plan Calculator is an essential tool for Chase cardholders who want to budget smarter and avoid unpredictable interest charges. By breaking down purchases into fixed monthly payments with a transparent plan fee, you gain financial control and clarity.