topic Re: AMEX APR% reduction .. in Credit Cards

AMEX APR% reduction ..

CreditCuriosity — Sat, 04 Apr 2015 18:52:13 GMT

So I started a thread a few days ago, can't find it now, thus creating another one... I asked if people were sucessful on lowering their APR%'s on AMEX cards.. I never carry a balance persay, but hey if you got to you mise well have the best terms right? So I put in a request on my Delta card to get the APR reduced along with asking when I can try for my CLI again which will be the 9th btw.. And I won, got my APR reduced, hopeuflly that means AMEX likes me as it was system generated and the CSR couldn't do anything about it, so hoping for the 3x on my ED card as well on the 9th which wil be my 90 days.. Anyways, see Chat log below of discussion, you never know unless you try!

Ray: You can ask me as many questions you can.
you: Any chance I can get a better APR on the Delta as well? I try to always get the best APR with all my cards... I know someone that just recently got theirs dropped to the 12.7 range
you: Gotta ask, never know unless you try
Ray: Greg, I will definitely make a try for you. I hope the system lets me bring it down.
Ray: Please note that if the system denies then I am helpless on this.
you: I understand, worth a try!
Ray: Thank you so much for your understanding.
Ray: (Smile)
Ray: Greg, we won!
Ray: I got an excellent news for you.
you: woot
Ray: We are changing your standard APR for Purchases from a rate of
Ray: Prime+15.99% , which is currently 19.24% to a rate of
Ray: Prime+12.99%, which is currently 16.24%.

AMEX Apr reduction?

CreditCuriosity — Thu, 02 Apr 2015 16:55:34 GMT

So I have read getting APR reductions is possible with AMEX.. Granted I still have like 12 months or so of 0% APR left, but what is the approach people use to get APR reductions with revolvers w/amex? Chat? Curious as everyone should always want a better deal.. This doesn't just apply to AMEX I try to get them on all my cards, doesn't hurt to ask and sometimes you will receive

Re: AMEX Apr reduction?

ksantangelo23 — Thu, 02 Apr 2015 17:44:47 GMT

I simply asked though live chat a few months ago. Managed to go from 17.xx% to 14.24% on my Hilton card. Went as far as to ask to swap my BCP (12.99%) and Hilton interest rate, but that didnt get me anywhere

Re: AMEX Apr reduction?

chalupaman — Thu, 02 Apr 2015 18:35:12 GMT

I usually try chat. They always tell me that I don't have any offers.

Re: AMEX Apr reduction?

Anonymous — Thu, 02 Apr 2015 19:09:02 GMT

Thanks for the inspiration! I just got off live chat with Amex. Their first response was, rest assured your APR hasn't increased. I explained that I actually wanted it lowered. If I make a big purchase, I'd like it to be through Amex (highest limit, purchase protection) and I wouldn't feel comfortable at my current rate. He came back to me < 1 minute later with:

15.24% -> 12.24%

My lowest APR card! Next is Barclay @ 13.99%.

Re: AMEX Apr reduction?

lhcole77 — Thu, 02 Apr 2015 19:39:07 GMT

@Anonymous wrote:
Thanks for the inspiration! I just got off live chat with Amex. Their first response was, rest assured your APR hasn't increased. I explained that I actually wanted it lowered. If I make a big purchase, I'd like it to be through Amex (highest limit, purchase protection) and I wouldn't feel comfortable at my current rate. He came back to me < 1 minute later with:

15.24% -> 12.24%

@Anonymous lowest APR card! Next is Barclay @ 13.99%.

Sweeeeet! Congrats.

When I got mine lowered I used chat as well, 15.24-12.24 like that! Easy peasy.

That's the lowest they are able to go right now.

Re: AMEX Apr reduction?

CreditCuriosity — Thu, 02 Apr 2015 19:43:20 GMT

Good info all.. Also grats to the one that got the APR reduction.. Granted most of us don't carry a balance, but nice to know if we ever get in a pinch and have to it will hurt less

Re: AMEX Apr reduction?

ojefferyo — Thu, 02 Apr 2015 19:47:24 GMT

This thread inspired me to try lol and I got a reduction also. Kinda nice

Re: AMEX Apr reduction?

TrulyyBlessed — Thu, 02 Apr 2015 19:50:29 GMT

I too went from 17.xx% to 14.24% via chat! It doesn't hurt to ask.

Re: AMEX Apr reduction?

CreditCuriosity — Thu, 02 Apr 2015 19:51:49 GMT

Dang I am Jelly...I should try since I created it lol... Doubt they will do it when one card is still on 0% apr.. guess I can try on my Delta card or that a set APR% for anyone?

Re: AMEX Apr reduction?

lhcole77 — Thu, 02 Apr 2015 20:13:00 GMT

@CreditCuriousity wrote:
Dang I am Jelly...I should try since I created it lol... Doubt they will do it when one card is still on 0% apr.. guess I can try on my Delta card or that a set APR% for anyone?

Delta is published at 15.24% but they took mine down to 12.24%

GO FOR IT!!!!

Re: AMEX APR% reduction ..

CreditMagic7 — Sat, 04 Apr 2015 18:54:51 GMT

congrats. lowe apr is always a bonus.

Re: AMEX APR% reduction ..

Anonymous — Sat, 04 Apr 2015 19:00:44 GMT

Congrats. I like how amex (and discover) chat reps tend to be much more personal and improvisational than other issuers.

citi and cap1 are like talking to robots...

Re: AMEX APR% reduction ..

Anonymous — Sat, 04 Apr 2015 19:04:12 GMT

You've inspired me.

I am off today sick and this gives me a distraction from my FIA debacle.

Re: AMEX APR% reduction ..

CreditCuriosity — Sat, 04 Apr 2015 19:05:15 GMT

Ya don't have a discover card, but really always have very pleaseant conversations with AMEX CSR's by chat.. Usually shoot the crud a bit before getting to business about the weather, sports, etc... They aren't robots which is a nice refreshing change for sure!

Re: AMEX APR% reduction ..

CreditCuriosity — Sat, 04 Apr 2015 19:06:07 GMT

@Anonymous wrote:
You've inspired me.

I am off today sick and this gives me a distraction from my FIA debacle.

Never hurts to ask, I bet you money you will get it! Please report back in this thread... I have only been with them since Dec 11 2014, granted backdated to 1990 lol.. Good luck!

Re: AMEX APR% reduction ..

lg8302ch — Sat, 04 Apr 2015 19:08:26 GMT

Is this the one you were looking for?

http://ficoforums.myfico.com/t5/Credit-Cards/AMEX-Apr-reduction/m-p/3905167#M1090348

Re: AMEX APR% reduction ..

NRB525 — Sat, 04 Apr 2015 19:09:16 GMT

Congratulations!

This is a good exercise to try, even if one does not usually carry a balance, because the recent sets of 12-month APR holidays use that base rate to figure the holiday rate. For example 19.24 went to 6.99, the 17.24 to 4.99, 15.24 to 2.99 so it's worth the gardening effort to try to get that standard rate down.

I asked for an APR reduction after the Holiday rate went in effect, and they told me I had to check back after that year had expired, which means December 2015 I can ask for the APR.

Re: AMEX APR% reduction ..

Anonymous — Sat, 04 Apr 2015 19:09:28 GMT

@Anonymous Representative wrote:
: Your APR for new purchases is a variable rate, currently 14.24% Your APR for Cash Advances is a variable rate, currently 25.24%.

: I have checked and currently your account is at the most competent APR offered by American Express. So, the system does not allow a lower APR at the moment.

: However, I am placing a note on the account about your request to lower APR for review. We review accounts periodically. So, you can check back with us later to see if there is a lower APR available for you.

.....Gee thanks.

Re: AMEX APR% reduction ..

lg8302ch — Sat, 04 Apr 2015 19:17:44 GMT

Nice ... maybe I should try again myself...

edit: just tried and as soon as I asked the question if my account would be eligible for an APR reduction I got kicked out of chat.. a bummer.. I guess it would have been no anyhow