0% APR AMEX Financing?

[Anonymous]

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@CarbonCard wrote:

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@Anonymous wrote:

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@CarbonCard wrote:

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@Anonymous wrote:

Do you think i'll use my AMEX BCE to finance a item worth $1k?

My BCE has 0% Intro APR until May 2016. It has $6k CL, i always pay it full every month.

So what do you think?

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I'd say go for it. I carried a balance with Amex (3k?) for almost a year and they didn't AA me. But then again YMMV.

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I see, but what does AA mean?

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Actually, longer than a year because I used a BT offer.. Oh and it means Adverse Action. Here's a thread that'll help you out in the long run.

http://ficoforums.myfico.com/t5/User-Guidelines-General/Common-Abbreviations/m-p/88458

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Wow very helpful! thanks a lot! 

[B335is]

You need to put all of this into perspective. If you have multiple new accts and carry a balance for one or twelve months with Amex, there is always a possibility that they will not honor a CLI request. Since their generous CLI is widely known, it's a risk you would take. Yes people have still gotten their CLI with a balance and will continue to. Like everything in the world there is no magic formula for everyone.

I have a lot of new accts and coupled with a 17 year history of PIF with Amex, I can see why they denied mine the very first time I carried a balance. Contrary to 99% of the posters here, I still feel Amex is more conservative than other lenders when it comes to carrying a balance. I only shared my experience since it is a valid datapoint.

[Open123]

In my view, these are two separate issues and concerns.  First, there's no harm on using a 0% rate, unless it's 90% utilization.  I've always used 0% when offered, even when it's from Amex.  Secondly, in general (amazing how many really don't understand the meaning of "in general"), Amex has a lesser tolerance levels for high balances than other issuers, such as, say, Citi.

Now, does this mean Amex "hates" balances?  Institutes AA or refuses CLIs to anyone who carries a balance?  No, of course not!  It just means that "in general," Amex likely assigns a higher internal risk to those carrying balances than Citi, Barclays or Bank of America.  At a certain point, all issuers will find a utilization level where they no longer tolerate for interest income; Amex simply has a lower utilization level in which they're comfortable than other lenders.

[Imperfectfuture]

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@mikelo22 wrote:

You can if you want. That's why they offered it to you.

That said, of all Lenders, Amex tends to hate balances the most. 

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This is untrue.  I've been carrying a balance on my BCE from many different sources since I got the card, it's never been 0.  They also don' have a problem with balances on business revolvers.  This is old news, from the days when they were mainly charge, and of course, for awhile after the financial collapse, when credit was tightened up, and all banks looked to minimize risks.

[elim]

a 1k balance on a 6k card with a $300 payment?  that should'nt be a problem on any CC

I usually charge 2 or 3k the day after statement cuts (for medium sized purchase) and take 7 weeks to pay it off, lol thats my 0 apr

[Anonymous]

Yep I had a "balance" of 400 out of my 3k credit limit and was denied a CLI because of that haha. Joke.