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How low before pulling the trigger on AmEx solicitation?

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Jonbo299
Established Member

How low before pulling the trigger on AmEx solicitation?

I shrug off Amex's solicitations to me as I don't really need it. Though I keep wondering if Citi and Amex are "competing" for my business because every time I just toss it, I'm getting better offers from each. Amex usually solicits me with the BCP Everyday (I think that's the correct name) and their other one regarding miles but I rarely if ever fly so it's tossed immediately.

 

The thing I wonder though, is how low of an interest rate can they generally go? The one's being sent now went form 17.99% down to 12.99% and 15 months 0%. Citi tries using 14.99% but 18 months 0% as their solicitation but they're such an unstable financial institution, especially after the bailout era, I cannot trust my business to them. I'm saavy on most levels after reading everything on this board but deciphering if it's really worth a pull to lock myself with what seems like a great rate.

Message 1 of 8
7 REPLIES 7
09Lexie
Moderator Emerita

Re: How low before pulling the trigger on AmEx solicitation?

Message 2 of 8
myjourney
Super Contributor

Re: How low before pulling the trigger on AmEx solicitation?


@Jonbo299 wrote:

I shrug off Amex's solicitations to me as I don't really need it. Though I keep wondering if Citi and Amex are "competing" for my business because every time I just toss it, I'm getting better offers from each. Amex usually solicits me with the BCP Everyday (I think that's the correct name) and their other one regarding miles but I rarely if ever fly so it's tossed immediately.

 

The thing I wonder though, is how low of an interest rate can they generally go? The one's being sent now went form 17.99% down to 12.99% and 15 months 0%. Citi tries using 14.99% but 18 months 0% as their solicitation but they're such an unstable financial institution, especially after the bailout era, I cannot trust my business to them. I'm saavy on most levels after reading everything on this board but deciphering if it's really worth a pull to lock myself with what seems like a great rate.


The ultimate choice of when you pull the trigger is up to you I would look at what's offered on each lenders website vs the mail offers.

I understand your fears about the industry but laws have been changed to protect consumers and the industry 2009 card act and Citi and Amex are prime lenders and deserve your consideration as well as others. Chase, Barclay, Discover

 

Good luck should you apply

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 3 of 8
Creditaddict
Legendary Contributor

Re: How low before pulling the trigger on AmEx solicitation?


@Jonbo299 wrote:

I shrug off Amex's solicitations to me as I don't really need it. Though I keep wondering if Citi and Amex are "competing" for my business because every time I just toss it, I'm getting better offers from each. Amex usually solicits me with the BCP Everyday (I think that's the correct name) and their other one regarding miles but I rarely if ever fly so it's tossed immediately.

 

The thing I wonder though, is how low of an interest rate can they generally go? The one's being sent now went form 17.99% down to 12.99% and 15 months 0%. Citi tries using 14.99% but 18 months 0% as their solicitation but they're such an unstable financial institution, especially after the bailout era, I cannot trust my business to them. I'm saavy on most levels after reading everything on this board but deciphering if it's really worth a pull to lock myself with what seems like a great rate.


You are now getting the best offer that Amex has for BCP if you are also getting the $250 cash bonus after spend offer wtih it... and ID TAKE IT! 6% on groceries!!!

for citi... I would only get the card you are listing if you need to transfer debt to 0%... and regardless of rather they were stable in past or not... the 0% isn't going to change for 18 months if you don't miss 2 payments or charge over your credit line.

Message 4 of 8
Jonbo299
Established Member

Re: How low before pulling the trigger on AmEx solicitation?

I know the industry has changed since then but some haven't changed enough. I mostly want to be sure what I'm being offered is basically as good as it is likely going to be at this time. It seems to me that Amex's interest rate is quite low for what I've seen in the past.

Message 5 of 8
manwoot
Frequent Contributor

Re: How low before pulling the trigger on AmEx solicitation?

That's about as low as you'll ever get on the BCP card.  Was there a decent cash back bonus offered as well?


Message 6 of 8
Jonbo299
Established Member

Re: How low before pulling the trigger on AmEx solicitation?

I should clarify that my opinion lies with Citi only. Amex I have no problems with. Solicitation says Blue Cash Everyday, 3% groceries, 2% gas and department stores, 1% everywhere else. 150 reward dollars after spending. $500.
Message 7 of 8
Jonbo299
Established Member

Re: How low before pulling the trigger on AmEx solicitation?

Of course I just realized I messed up saying BCP everyday when it's Blue Cash Everyday card....
Message 8 of 8
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