US Bancorp : U.S. Bank expands and enhances U.S. Bank ExtendPay™

Cardmembers can divide their eligible purchases into affordable, fixed monthly payments.

MINNEAPOLIS (April 5, 2022) - U.S. Bank, an industry leader in payment services, has enhanced its  ExtendPay™ offering, which provides U.S. Bank consumer and business cardmembers with the ability to buy what they want now and pay for it later, providing them with added flexibility and control over their cash flow. ExtendPay is a new payment option that allows customers to divide eligible purchases into affordable, fixed monthly payments with no added interest - just a fixed monthly fee.

ExtendPay became available in 2021 for existing U.S. Bank cardmembers, providing them with the option of splitting big or unexpected purchases into a series of fixed monthly payments. With U.S. Bank ExtendPay, cardmembers can keep the rewards they normally earn on purchases using their cards, and they don't need an application to get started.

"We launched ExtendPay in 2021 to give our cardmembers choices and flexibility in how they pay their U.S. Bank consumer cards," said Steve Mattics, head of Retail Payment Solutions for U.S. Bank. "The response from our customers has been tremendous - especially during the most recent winter holiday shopping season. Now, we're improving the customer experience through streamlined enrollment, expanded eligibility and the ability to set up an unlimited number of plans. We're also offering ExtendPay to our business cardmembers for the first time."

Here's how U.S. Bank's ExtendPay offering works:

1. This feature is available for U.S. Bank consumer and business credit card(s).
2. When you make eligible purchases on your credit card and move them to an ExtendPay plan, you will pay no interest, just a small fixed monthly fee.
3. You may select different timeframe options for each plan, which range from three to 24 months.
4. You may set up plans depending on eligible card purchases.

About  U.S. Bank

U.S. Bancorp, with nearly 70,000 employees and $573 billion in assets as of December 31, 2021, is the parent company of U.S. Bank National Association. The Minneapolis-based company serves millions of customers locally, nationally and globally through a diversified mix of businesses: Consumer and Business Banking; Payment Services; Corporate & Commercial Banking; and Wealth Management and Investment Services. The company has been recognized for its approach to digital innovation, social responsibility, and customer service, including being named one of the 2021 World's Most Ethical Companies and Fortune's most admired superregional bank. Learn more at usbank.com/about.