Amex Holiday 6.99% offer

[score_building]

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@petarap wrote:

I got the same offer as well.  But, I definitely don't think it's a trap. This is for my BCE.

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Whether or not the net effect feels like a trap (or warm fuzzies) may be linked to several factors, including how the pay down schedule is managed and overall profile.

[lg8302ch]

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@dilettante wrote:

It would be interesting to find out how Amex determines who gets which offers.  I just received an offer on the SPG for 3.99% for 12 billing cycles on all new purchases after sign up for the promotion.  Why isn't it the same promotional rate for all SPG cardholders?

I won't be signing up for it since I don't even know what the current APR is on my SPG.

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Maybe they will come back next year with 2,99% if you do not sign up for 3,99%...Amex might find out at what stage you are interested.... lol

[petarap]

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@score_building wrote:

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@petarap wrote:

I got the same offer as well.  But, I definitely don't think it's a trap. This is for my BCE.

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Call it what you will. Whether or not the net effect feels like a trap (or warm fuzzies) may be linked to several factors, including how the pay down schedule is managed and overall profile.

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I agree on your point. It's linked to several factors. Just because someone utilizes this offer, that doesn't mean AMEX will come back after them.  The trap as you said is dependent on how you pay back.

[Anonymous]

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@petarap wrote:

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@score_building wrote:

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@petarap wrote:

I got the same offer as well.  But, I definitely don't think it's a trap. This is for my BCE.

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Call it what you will. Whether or not the net effect feels like a trap (or warm fuzzies) may be linked to several factors, including how the pay down schedule is managed and overall profile.

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I agree on your point. It's linked to several factors. Just because someone utilizes this offer, that doesn't mean AMEX will come back after them.  The trap as you said is dependent on how you pay back.

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Wish they'd offer this on my BSP.

I already have a lower APR than the lowest listed (14.24%/17.24%), so theoretically I should be getting a 2.99% Interest offer!

[NRB525]

What is BSP?

(and I thought we used a lot of obscure acronyms where I work...)

[Anonymous]

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@NRB525 wrote:

What is BSP?

(and I thought we used a lot of obscure acronyms where I work...)

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Blue Sky Preferred.

[HiLine]

I'm sure a lot of people, normal consumers, will "take advantage" of this, which makes me glad we are well versed enough in this matter to not fall for the trap and pay Amex a single penny in interest.

[NRB525]

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@HiLine wrote:
I'm sure a lot of people, normal consumers, will "take advantage" of this, which makes me glad we are well versed enough in this matter to not fall for the trap and pay Amex a single penny in interest.

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As another poster said, it depends on how one manages the payment timing. For myself, I plan to use it to show a higher "used balance" because my monthly spend (in all categories) is not superhuman like some others. Let the balance build a bit, then catch up to pay it down, get back to PIF to AMEX after this expires November 2015, when it goes back to the "penalty rate" of 19.24%.

@Anonymous - Thanks for the clarification

OT: I did do the AMEX 3x CLI thing last night. That was fun! $3k to $9k with no fuss.

[baller4life]

I wouldn't care if they offered 2.99% for FIVE years, I would never ever carry a balance with Amex! But hey that's just me! #pifamex

[Anonymous]

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@baller4life wrote:
I wouldn't care if they offered 2.99% for FIVE years, I would never ever carry a balance with Amex! But hey that's just me! #pifamex

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Lol..

I must be one of the few here carrying over a small balance on an interest bearing (for them) AMEX. $900 at 14.24% isn't too bad.

On second hand. I could be saving those $11/mo if I just wiped the balance off. But I've got my CSP pretty close to the $3,000 spend I needed to meet and need to pay that one off first as it's 15.99%.

I should be getting that statement soon