Asked Amex for a Apr reduction

Aprile421 · ‎08-04-2017

So I have had my BCP a year now. My 0% is up this month so I figured I'd call in and ask for a rate reduction incase at some point I'd like to carry a balance. I was a little surprised when I asked and CSR laughed at me and told me there would be no reason to give me a rate reduction because I pay my card off every month. I'll be honest that response kinda pissed me off. I would have been ok with there are no offers available to lower your rate right now but to be laughed at and told no because at the moment I don't carry a balance seemed kind of rude to me. I thanked him and hung up just a little shocked at the answer I got.

Next I decided to call Discover who I also pay off every month and asked for an Apr reduction. The CSR offered me a 4 pt reduction down to 14.99 or 12 months at 0%. She told me if I took the 12 months at 0% in a year I could call back and ask again for another rate reduction that this wouldn't hurt my chances. So I took the 0% thanked her and went on my merry way. I am just shocked at Amex and their attitude because I pay my card off every month and prove that I am a good customer that they'd be unwilling to work with me on a rate reduction so I could possibly carry a balance with them. I can promise you at 20.99% I would carry nothing of a balance with them.

Has anyone else been told this by Amex when asking for a rate reduction?

Anonymous · ‎08-04-2017

@Aprile421 wrote:
So I have had my BCP a year now. My 0% is up this month so I figured I'd call in and ask for a rate reduction incase at some point I'd like to carry a balance. I was a little surprised when I asked and CSR laughed at me and told me there would be no reason to give me a rate reduction because I pay my card off every month. I'll be honest that response kinda pissed me off. I would have been ok with there are no offers available to lower your rate right now but to be laughed at and told no because at the moment I don't carry a balance seemed kind of rude to me. I thanked him and hung up just a little shocked at the answer I got.

Next I decided to call Discover who I also pay off every month and asked for an Apr reduction. The CSR offered me a 4 pt reduction down to 14.99 or 12 months at 0%. She told me if I took the 12 months at 0% in a year I could call back and ask again for another rate reduction that this wouldn't hurt my chances. So I took the 0% thanked her and went on my merry way. I am just shocked at Amex and their attitude because I pay my card off every month and prove that I am a good customer that they'd be unwilling to work with me on a rate reduction so I could possibly carry a balance with them. I can promise you at 20.99% I would carry nothing of a balance with them.

Has anyone else been told this by Amex when asking for a rate reduction?

I don't understand, if you don't carry a balance who cares about APR?

I couldn't even tell you what my lowest or highest APR is simply because it's irrelevant to me

Aprile421 · ‎08-04-2017

Because every now and then I need to carry a small balance so all my cards don't report 0 or once in a while I might want to charge something a little larger that may take 2-3 months to pay off and at that point Apr does matter.

HeavenOhio · ‎08-04-2017

You don't need to carry a balance and pay interest to avoid all cards reporting zero. The balance that appears on your report should come from new charges.

Tim_S · ‎08-04-2017

@Anonymous wrote:
@Aprile421 wrote:
So I have had my BCP a year now. My 0% is up this month so I figured I'd call in and ask for a rate reduction incase at some point I'd like to carry a balance. I was a little surprised when I asked and CSR laughed at me and told me there would be no reason to give me a rate reduction because I pay my card off every month. I'll be honest that response kinda pissed me off. I would have been ok with there are no offers available to lower your rate right now but to be laughed at and told no because at the moment I don't carry a balance seemed kind of rude to me. I thanked him and hung up just a little shocked at the answer I got.

Next I decided to call Discover who I also pay off every month and asked for an Apr reduction. The CSR offered me a 4 pt reduction down to 14.99 or 12 months at 0%. She told me if I took the 12 months at 0% in a year I could call back and ask again for another rate reduction that this wouldn't hurt my chances. So I took the 0% thanked her and went on my merry way. I am just shocked at Amex and their attitude because I pay my card off every month and prove that I am a good customer that they'd be unwilling to work with me on a rate reduction so I could possibly carry a balance with them. I can promise you at 20.99% I would carry nothing of a balance with them.

Has anyone else been told this by Amex when asking for a rate reduction?
I don't understand, if you don't carry a balance who cares about APR?

I couldn't even tell you what my lowest or highest APR is simply because it's irrelevant to me

Did you not read his post?

Aprile421 · ‎08-04-2017

So Apr doesn't matter if I decide to carry a balance for 2-3 months? Is that what you're trying to tell me. I fully understand that if I post a balance so all my cards don't post 0 balance and pay it off before the next statement cut I wont get charged interest. Tell me how I avoid say wanting to spend $1200 on an item carry the balance for 2-3 months I avoid interest unless A) I get a 0% offer like I did by asking Discover or B) avoid paying over 20% interest which is what Amex is charging. If I am going to choose to carry a balance for a couple of months and have no 0% offers you can bet I want to put the balance on the lowest interest card.

MrDisco99 · ‎08-04-2017

@Aprile421 wrote:
So I have had my BCP a year now. My 0% is up this month so I figured I'd call in and ask for a rate reduction incase at some point I'd like to carry a balance. I was a little surprised when I asked and CSR laughed at me and told me there would be no reason to give me a rate reduction because I pay my card off every month. I'll be honest that response kinda pissed me off. I would have been ok with there are no offers available to lower your rate right now but to be laughed at and told no because at the moment I don't carry a balance seemed kind of rude to me. I thanked him and hung up just a little shocked at the answer I got.

Next I decided to call Discover who I also pay off every month and asked for an Apr reduction. The CSR offered me a 4 pt reduction down to 14.99 or 12 months at 0%. She told me if I took the 12 months at 0% in a year I could call back and ask again for another rate reduction that this wouldn't hurt my chances. So I took the 0% thanked her and went on my merry way. I am just shocked at Amex and their attitude because I pay my card off every month and prove that I am a good customer that they'd be unwilling to work with me on a rate reduction so I could possibly carry a balance with them. I can promise you at 20.99% I would carry nothing of a balance with them.

Has anyone else been told this by Amex when asking for a rate reduction?

Just like with CLIs some banks make it easier than others. Amex is known for being difficult about APR decrease requests. However, they occasionally give them away unprompted.

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Anonymous · ‎08-04-2017

@Aprile421 wrote:
So Apr doesn't matter if I decide to carry a balance for 2-3 months? Is that what you're trying to tell me. I fully understand that if I post a balance so all my cards don't post 0 balance and pay it off before the next statement cut I wont get charged interest. Tell me how I avoid say wanting to spend $1200 on an item carry the balance for 2-3 months I avoid interest unless A) I get a 0% offer like I did by asking Discover or B) avoid paying over 20% interest which is what Amex is charging. If I am going to choose to carry a balance for a couple of months and have no 0% offers you can bet I want to put the balance on the lowest interest card.

Well Amex doesn't want to give you a low APR if you are going to pay it off in 2 to 3 months. They want you to carry a balance for years. Just like the people who give you 0 percent offers. And on a charge card you are a good customer if you pay in full every month. On a rewards credit card the best customers are the ones who carry a balance and who pay the minimum every month forever. Paying in full makes you low risk it doesn't make you a rewarding customer to them.

simplynoir · ‎08-04-2017

This post about it where Pooka answers the question: http://ficoforums.myfico.com/t5/Credit-Cards/Amex-Permanent-APR-Reduction/m-p/4792609#M1395034

Also, someone who got an email from AMEX telling them they got an auto APR reduction on his card: http://ficoforums.myfico.com/t5/Credit-Cards/Amex-Auto-APR-Reduction/m-p/4967149

So, it seems to be a very YMMV deal with asking for APR reductions for AMEX.

AverageJoesCredit · ‎08-04-2017

Apr can be important to some people, regardless if you pif . Its nice to see or get a lower apr , no harm trying. Amex is just one of those lenders where you usually just get stuck at whatever you are approved for. The csr, laughing though uncalled for. All you need to do is lay out the facts, there are no offers or be honest and say the reason he said. Just not in the manner used.