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Disappointed w/Amex

New Contributor

Disappointed w/Amex

because the APR on my Blue Cash is almost 20APR!! I am surprised that Amex does not offer a better interest rate..Will not use them unless for small purchases...Took a BF fr BOA and will pay them off.
 
Be careful of AMEX's interest rates..They can be very high.BOA offer fixed rate of 7.6 while AMEX 19+? Those rates by AMEX are for sub-prime borrowers which I am not.
 
Anyone have a similiar experience with AMEX's surprised rates. 
Message 1 of 5
4 REPLIES
Established Contributor

Re: Disappointed w/Amex

interesting. i thought apr was around 14% for blue
Message 2 of 5
Moderator Emeritus

Re: Disappointed w/Amex

20%? Really? I though mid-teens was the limit.
Message 3 of 5
Established Contributor

Re: Disappointed w/Amex

That don't sound right....19%
9/18/08 TU=707 EQ=706 EX=702
Message 4 of 5
Highlighted
Contributor

Re: Disappointed w/Amex

From the Blue application website (so it depends on your credit rating, I know for a fact that the preapproved offers they send you has a preset fixed rate):
 
0.00% Introductory APR (0.0000% DPR) for Purchases either for the first 15 months, 12 months, 6 months or 6 months of Cardmembership, depending on our review of your application and credit history. Then, a variable APR of 12.24% (0.0335% DPR);14.24% (0.0390% DPR);17.24% (0.0472% DPR); or 19.24% (0.0527% DPR), depending on our review of your application and credit history.
Message 5 of 5