cancel
Showing results for 
Search instead for 
Did you mean: 

Lowest APR - Thanks AMEX!

tag
Anonymous
Not applicable

Re: Lowest APR - Thanks AMEX!

LuckyBird - My Amex EveryDay is at 7.49% APR total, this is with prime rate added. My Amex Delta is at 10.49% APR now. They've never countered me with a temporary reduction, but other companies such as Capital One or Citi have. My general rule of thumb is to wait a month in between requests, although my APRs are so low now I can't get them to budge anymore on EveryDay. I will back up what CreditDunce said in that I know other companies will not consider reducing your APR if you have a promotional APR.

 

 

 

AAstra - Requested by chat! They'll look for you as long as it's been a month since you last asked in my experience. 

Message 21 of 27
ScoreOrBeScored
Valued Contributor

Re: Lowest APR - Thanks AMEX!

My BCE is at 6.74%. (No promo ) 

 

and yes yes they will lower your rate during a 0% promo. They have lowered my Simoly Cash rate a few times and I'm still in

 

my 0% promo u til August 2016. And I will ask for another reduction in August once it's up.

Message 22 of 27
Anonymous
Not applicable

Re: Lowest APR - Thanks AMEX!

APR reduction is pointless when the consumer is a deadbeat. There is no point for the consumer to shoot themselves in the foot when their main purpose for having credit in the first place is to reap the rewards and not to pay them back in interest. 

 

But some consumers do need to have the feeling of accomplishment and exuberance when they knock off a point or two even though they never plan to pay any bank a single penny in interest.

Message 23 of 27
LuckyBird
Regular Contributor

Re: Lowest APR - Thanks AMEX!


@Anonymous wrote:

APR reduction is pointless when the consumer is a deadbeat. There is no point for the consumer to shoot themselves in the foot when their main purpose for having credit in the first place is to reap the rewards and not to pay them back in interest. 

 

But some consumers do need to have the feeling of accomplishment and exuberance when they knock off a point or two even though they never plan to pay any bank a single penny in interest.


I don't carry balances as a rule and never really have, especially anything other than taking advantage of a 0% for 4 or 5 months...but I've learned in life to never say never. 

At any time, for almost anyone, something could come up which may necessitate a balance be carried for a while or possibly even long term.  It's just nice to have the peace of mind that it won't cost you an arm and a leg if that happens for some reason. There are things that can happen that could outstrip your savings and even if it weren't that bad, some people may rather carry a balance for a while at a small interest rate rather than fully deplete cash on hand.  Nothing to do with "accomplishment" or "exuberance" and certainly not being a "deadbeat" - simply preparedness for many.

Chase Sapphire Reserve $30,000 | Amex BCP $30,000 | Discover It $30,000 | Citi Simp $16,500 | NFCU Cash Rewards $14,400 | Citi DC $9,800 | Chase Freedom $9,000 | VS $4,100 | Kohl's $3,000 | Loft $3,000

EQ 823 ~ TU 817 ~ EXP 808 | ITG since 8/24/2016
Message 24 of 27
Anonymous
Not applicable

Re: Lowest APR - Thanks AMEX!

I do agree that it's very nice to have a few cards with a standard low APR. An unexpected repair or emergency can rack up balances fairly quickly.

Message 25 of 27
Anonymous
Not applicable

Re: Lowest APR - Thanks AMEX!


@ScoreOrBeScored wrote:

My BCE is at 6.74%. (No promo ) 

 

and yes yes they will lower your rate during a 0% promo. They have lowered my Simoly Cash rate a few times and I'm still in

 

my 0% promo u til August 2016. And I will ask for another reduction in August once it's up.


for consumer cards i dont believe this is the case. I have asked several times for my ED and they have always said the same thing, only when 0% is up can they make a reduction.

Message 26 of 27
Anonymous
Not applicable

Re: Lowest APR - Thanks AMEX!


@ScoreOrBeScored wrote:

congrats,

my BCE is down to 8.49% they are great because i got it down from 21.99% and it only took 3 months to do it !!!!


Can you tell me what your stats were during those 3 months? My intro apr just expired and Im at 18.49 but they said I have to wait another billing cycle to try back.

Any info you can give will not be forgotten

Message 27 of 27
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.