Money.ca explains how to use instalment credit plans and navigate the interest, fees and fixed repayment schedules in Canada. Considering an instalment plan? Here's how to use a payment plan the ...

If you chose an instalment payment plan with 0% interest and a 6% fee over 12 months: $600 would be deducted from your card's available credit limit Your total payment plan amount would be $600 x ...

Your monthly instalment payment would be $636 ÷ 12 = $53; Each instalment payment you make, by the way, gets added back to your card's available credit. Can anyone get a credit card instalment plan?