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About Pay Over Time (POT)
We understand that life can be unpredictable, and we want to help you manage your finances as best we can while still promoting the mindful spending habit. All Possible Card customers can enroll in a Pay Over Time (POT) plan for no extra cost as long as their account has a balance of at least $50 and no pending payments.
While you are enrolled in the installment plan, your card will be locked and cannot be used for any purchases until the installment plan is paid off in full. Your full balance will be split into equal payments to make it easier to catch up on payments and stay on track of financial management. Monthly membership fees will be added to payments that take place around the 1st of the month.
The payment schedule will be based on your autopay schedule if you are already enrolled in autopay. If you are not yet enrolled in autopay, you will need to do so first, and then payments will be based on the new autopay schedule. You can learn more about AutoPay in this help center article.
Please note that the final payment amount may change if there are any pending transactions at the time that the POT plan is set up that post during the POT plan.
Any attempted charges to the card during this period will be declined. If you decide to enroll in the installment plan, we recommend that you update your payment method with any merchants where you have pre-authorized recurring transactions via the Possible Card. If a pre-authorized recurring payment attempt fails and is charged, the merchant may assess a returned payment fee for which Possible will not be responsible.
How to Enroll in Pay Over Time
If you need to convert to a payment plan, you can enroll in the app by navigating to the Card Dashboard and tapping the Switch to Pay Over Time button, located below the Upcoming Payments section. You will then enroll in autopay (if you’re not already enrolled), review the payment plan details and schedule, and agree to the plan.
If you need assistance with this process, you can reach out to us through the Contact Us form in the app and we can enable AutoPay and activate the POT plan for you.
How to Make Additional POT Payments
When enrolled in a POT plan, your payments will be scheduled based on your autopay schedule and automatically initiated one day in advance of the scheduled payment date.
If you wanted to catch up on a missed payment, make an additional payment, or even pay off your POT balance, you can follow the steps below.
- Tap the Make a Payment button underneath the upcoming payment bubbles
- Choose which payment amount you would like to make from the options
- Tap Continue to Payment Review
- Update your payment method if needed/wanted
- Review any messaging below your payment details
- Tap Pay Now to submit your payment
Your payment will begin processing after tapping Pay Now. As of now, the payment date will be automatically selected for the soonest we can begin processing the payment. We cannot change the payment date at this time but are looking to make this an option in the future.
If you run into any issues or have questions, please reach out to our customer support team by calling the number on the back of your card or using the contact us form in the app. We will be happy to help you!