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Amex APR reduced UPDATE: lowered more

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Imperfectfuture
Super Contributor

Re: Amex APR reduced UPDATE: lowered more


@Dluvr22 wrote:

In the interest of fairness, I thought I should provide an update on my issue.

It turns out that the request to lower my APR did not initiate the hard pull at all.

 

The company I work for decided to send out new corporate cards to replace existing corporate cards for all employess who previously had one. As such I had been asked to fill out the form for my replacement card. While my previous cards did not involve a hard pull on my credit, this one did and I was none the wiser. Coincidentally the credit check waas done the same day I requested the APR reduction. Anyway I can understand why they pulled my credit so it is not an issue as I accept that I should be made liable for purchases on the card in the event that I do not submit my expense reports on time. The credit pull does irk me as I was gardening for a year or so but it couldn't be helped.

 

At least I am in a better position than a few folks who had corporate cards before this incident and wound up getting declined for a new card.

I did talk to one of my collegues who got declined and advised her to call in for a reconsideration by explaining the circumstances and luckily for her she got approved.

 


Good for you.  Knowledge from the forums spreads.  Smiley Wink

Signature needs updating
Message 51 of 54
Jarrodpd
Regular Contributor

Re: Amex APR reduced UPDATE: lowered more

I was able to get my second APR reduction, the first was a few months ago. Something like 3 months? My APR started at 17.24%>14.24% and is now at 10.24%. Acording to the fico score on Amex, my score is a 746.

USAA Platinum Mastercard: $8000
American Express HHonors no AF: $12000
American Express Premier Rewards Gold: NPSL
American Express Platinum: NPSL
US Bank Cash+ Visa Sig: $5100|Chase Freedom: $7000|Chase Sapphire Reserve: $10000
Total combined CL:$42,100|Exp: 763(788Amex)|Equ: 759|Tu: 769 (04 May 2016)
Message 52 of 54
Anonymous
Not applicable

Re: Amex APR reduced UPDATE: lowered more


@Jarrodpd wrote:

I was able to get my second APR reduction, the first was a few months ago. Something like 3 months? My APR started at 17.24%>14.24% and is now at 10.24%. Acording to the fico score on Amex, my score is a 746.


Nice! I've been requesting reductions twice a month since I got my card, I don't think I've been declined yet and I'm at 7.24% currently, down from the starting 15.24%

Message 53 of 54
Themanwhocan
Senior Contributor

Re: Amex APR reduced UPDATE: lowered more

I chatted with Amex many months ago asking about an APR reduction for my BCE card, and they said that since I was at the advertized minimum for the card (12.99%) they couldn't lower it, but said there was a number I could call and that other group has the authority to lower it. I called, and they didn't lower it.

 

So today after reading this thread I chatted again, asking for a Permanent APR reduction. the guy comes back with a reduction to only 12.24%, and says that on 10/2016 it will go back to 12.99%, do I have your approval to do that? I say "no, thanks. i'm, not interested in a temporary reduction".

 

So then he asks for time to talk with his supervisor. That takes awhile, but now he offers a permanent reduction to 11.74%, so I accept that Smiley Wink

 

1.25% reduction is better than nothing, and I really don't use this card for much at all. I do have a $30k limit on the BCE card, which is benefit enough. No complaints here.

 

But, i'll still ask for another APR reduction some day...





TU-8: 804 EX-8: 805 EQ-8: 788 EX-98: 767 EQ-04: 752    
TU-9 Bankcard: 837 EQ-9: 823 EX-9 Bankcard: 837
Total $443,800
Message 54 of 54
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