Associates Can Help Shoppers Budget Smarter With MILITARY STAR Pay Your Way Plans
As the holiday shopping season grows nearer, shoppers will typically purchase more big-ticket items and have larger basket totals overall, which makes it a great time for associates to remind shoppers about MILITARY STAR® Pay Your Way plans.
Pay Your Way plans allow cardmembers to buy now and pay later with fixed monthly payments and a reduced APR of just 9.99%. Plan options are available on purchases over $300.
For associates, it’s as simple as asking.
“Every time a shopper is making a large purchase, I always let them know that with a Pay Your Way plan, they’ll have a lower interest rate and more time to pay it off,” said Janice McKinnie, a customer experience associate at Fort Cavazos, which leads all Exchange stores in Pay Your Way plans. “I especially make sure to tell shoppers who are considering opening a MILITARY STAR card for the first time because they can get the lower interest rate on top of the 10% new-cardmember discount.”
The MILITARY STAR card already provides cardmembers with an industry-leading low APR (the current average credit card APR is more than 28%), and the Pay Your Way plans provide an even lower rate, making it a useful budgeting tools for holiday shoppers. They can spread out the price of a large purchase over several months while the low APR can save them hundreds or even thousands of dollars compared with other credit cards.
“Familiarize yourself with the details of the plans,” advises Bonnie Ivers, senior sales associate at the Fort Cavazos furniture store. “One thing I always point out is that shoppers can pay off the plans early if they want with no penalty, unlike other store cards.”
Pay Your Way plans are available at three price tiers, which apply to the order total:
- 36 months for purchases from $300 to $499.99.
- 36 months or 48 months for purchases from $500-$999.99.
- 36 months, 48 months or 60 months for purchases more than $1,000.
Cardmembers may have multiple Pay Your Way plans in use at the same time, depending on available credit, and shoppers can estimate their monthly payment MyECP.com/Calculator. Express and fuel locations are excluded.
“Civilian credit card interest rates are increasing, and many families are feeling a financial squeeze,” said Exchange Vice President of Credit Strategy Grant McCloud. “The MILITARY STAR card and its Pay Your Way plans are great resources to ease some of the financial stress of the holiday season.”
And don’t forget: Associates can make use of Pay Your Way plans too! All Exchange associates 18 and older are eligible to apply for a MILITARY STAR card and enjoy its discounts and benefits, such as:
- 10% off all first-day purchases for new cardholders.
- 5 cents off every gallon of gas at Exchange fuel locations, as well as select Navy Exchange and Marine Corps Exchange locations.
- 10% off at participating Exchange restaurants.
- Free shipping on ShopMyExchange.com and myNavyExchange.com.
- Unlimited 2% rewards earned on purchases.
- Exclusive cardholder savings throughout the year.
For more information on Pay Your Way plans or to apply for a card, associates can aafes.media/MilStarPA.
