topic Re: American Express: APR Reduction Success in Credit Cards

American Express: APR Reduction Success

PrimeRate — Fri, 10 Jul 2015 18:30:32 GMT

15 months @ 0% promo just ran out on my American Express Everyday card. Even though this card usually sits in the SD & I rarely carry a balance, I figured I'd reach out to see if there was an APR reduction offer. My card was sitting at 18.99% since the promo ended just 2 days ago. Below is my result.

This was as painless a process as they come. I know AMEX catches its flack for some clueless CSR's, but they've been on a roll with me lately. They've been top notch over the last year. They also just manually applied my AFC on my PRG since it was over a month and no credit had posted. Kudos AMEX.

To anyone out there with an APR over 12.99% give AMEX a chat, it's worth a shot. Have a great weekend everyone.

Re: American Express: APR Reduction Success

newhis — Fri, 10 Jul 2015 18:36:55 GMT

Thank you, good information. I guess I'll wait until the promo ends.

Re: American Express: APR Reduction Success

Anonymous — Fri, 10 Jul 2015 18:48:54 GMT

@PrimeRate wrote:
@Anonymous months @ 0% promo just ran out on my American Express Everyday card. Even though this card usually sits in the SD & I rarely carry a balance, I figured I'd reach out to see if there was an APR reduction offer. My card was sitting at 18.99% since the promo ended just 2 days ago. Below is my result.

This was as painless a process as they come. I know AMEX catches its flack for some clueless CSR's, but they've been on a roll with me lately. They've been top notch over the last year. They also just manually applied my AFC on my PRG since it was over a month and no credit had posted. Kudos AMEX.

To anyone out there with an APR over 12.99% give AMEX a chat, it's worth a shot. Have a great weekend everyone.

NICE!!!!

Re: American Express: APR Reduction Success

Anonymous — Fri, 10 Jul 2015 19:38:13 GMT

Congrats on the reduction!

Re: American Express: APR Reduction Success

Anonymous — Fri, 10 Jul 2015 19:39:07 GMT

Thanks for reminding me I had been meaning to check on this---your were correct less than 10 minutes via online chat and they lowered my APR.

Re: American Express: APR Reduction Success

nursepower — Fri, 10 Jul 2015 19:40:54 GMT

Thanks for posting this! I didn't know amex had a chat. I just chatted and got APR reduction from 12.99 to 10.74....Thank you!

Re: American Express: APR Reduction Success

Anonymous — Fri, 10 Jul 2015 22:16:24 GMT

Awesome news!

I did the same and my Delta card was lowered 3%, still have the 0% on Everyday so didn't bother asking.

Thanks for sharing!

Re: American Express: APR Reduction Success

CreditCuriosity — Fri, 10 Jul 2015 22:43:43 GMT

Ugh forgot to do this on my Hhonors Account you motivated me to ask! only had account 35 days... Thank you OP .. Did this on my Delta about 3-4 months back.. Will do on ED as well when 0% apr is over

We are changing your standard APR for Purchases from a rate of
Prime+15.99% , which is currently 19.24% to a rate of
Prime+12.99%, which is currently 16.24%.

The rate will vary with the market based on the Prime rate as described in your Cardmember Agreement.

This change will be effective beginning from the first day of your current billing period.

Do I have your permission to make this change to your account?

Re: American Express: APR Reduction Success

Anonymous — Fri, 10 Jul 2015 22:52:37 GMT

Good job on the APR reduction..

Re: American Express: APR Reduction Success

9CLINE — Sat, 11 Jul 2015 00:32:44 GMT

Way 2 Go !!!!!!!!!

Re: American Express: APR Reduction Success

UncleB — Sat, 11 Jul 2015 03:14:14 GMT

This is awesome, and great to know!

When my 0% promo is over, I intend to give this a try as well. By then, the items on my CR that caused me to get the highest APR for a BCP will be aged off, so I hope to be successful!

Re: American Express: APR Reduction Success

Anonymous — Sat, 11 Jul 2015 03:29:53 GMT

Thank you for sharing! And congratulations!

Re: American Express: APR Reduction Success

NRB525 — Sat, 11 Jul 2015 05:04:51 GMT

@CreditCuriousity wrote:
Ugh forgot to do this on my Hhonors Account you motivated me to ask! only had account 35 days... Thank you OP .. Did this on my Delta about 3-4 months back.. Will do on ED as well when 0% apr is over

We are changing your standard APR for Purchases from a rate of
Prime+15.99% , which is currently 19.24% to a rate of
Prime+12.99%, which is currently 16.24%.
The rate will vary with the market based on the Prime rate as described in your Cardmember Agreement.
This change will be effective beginning from the first day of your current billing period.
Do I have your permission to make this change to your account?

I've had my Hilton HHonors card for two payments in full, so I went on the PC chat.

Sophie was helping me, going to check whether the card could get an APR reduction, and I got a blue screen of death.

Rebooted. Ricky was helping me, going to check whether the card could get an APR reduction, and I got a blue screen of death.

Proceeded to get 5 or 6 blue screens of death, just trying to get through basic functionality, not even able to figure out anything on line before BSOD.

So I called AMEX on this old technology called an iPhone and got 19.24% --> 17.24%. Not the best, but a small win.

This is being typed on my secondary PC, an old laptop (which is not in bad condition) while I work on figuring out why my main PC can't seem to keep breathing more than 5 minutes.

Re: American Express: APR Reduction Success

CreditCuriosity — Sat, 11 Jul 2015 05:08:36 GMT

Usually when you ask with them you will receive. Still great customer service.. I think they are hurting overall though other then the business card selections. They might need to revamp their partnerships and reward structures as they aren't really competitive to some of the other lender. Be interesting to see what Amex has up their sleeve as I doubt they will give up easily as CC is their main business and surely the Plenti card isnt the best they can do

Re: American Express: APR Reduction Success

UncleB — Sat, 11 Jul 2015 05:12:40 GMT

@CreditCuriousity wrote:
Usually when you ask with them you will receive. Still great customer service.. I think they are hurting overall though other then the business card selections. They might need to revamp their partnerships and reward structures as they aren't really competitive to some of the other lender. Be interesting to see what Amex has up their sleeve as I doubt they will give up easily as CC is their main business and surely the Plenti card isnt the best they can do

Heavens, I hope you are right. That Plenti card is absolutely horrible... if that were the best I could get, I think I would just stick to a Serve and call it a day.

Re: American Express: APR Reduction Success

PrimeRate — Fri, 31 Jul 2015 18:42:17 GMT

As a follow up to my OP; I initiated another chat today with a rep who lowered my APR to 7.24 including (not +) prime . I am waiting for my next bill to generate to confirm this number, but at this rate this makes my Everyday card incredibly useful in the case that I'd ever need to carry a balance.

Happy Friday, Have a Great Weekend!

Re: American Express: APR Reduction Success

trumpet-205 — Fri, 31 Jul 2015 18:48:54 GMT

Has anyone able to get BCE or BCP APR lowered below 11.24%? I was told by AMEX CSR that 11.24% is the lowest they can do on BCE / BCP.

Re: American Express: APR Reduction Success

Anonymous — Sat, 01 Aug 2015 13:11:56 GMT

I got mine reduced 3% last week. Can this be done monthly successfully until they say no more? Do they check your Fico score to see how much they reduce it or is it pretty some formula they are using?

Re: American Express: APR Reduction Success

kdm31091 — Sat, 01 Aug 2015 13:39:17 GMT

I think 11.24 is pretty darn good for a rewards card like BCE or BCP. Wouldnt expect them to go much lower. They have to get their money from somewhere after all.

I agree the Plenti card is an absolute joke. There are literally zero redeeming qualities to it.

Re: American Express: APR Reduction Success

kevinjjc — Sat, 01 Aug 2015 13:51:10 GMT

@PrimeRate wrote:
As a follow up to my OP; I initiated another chat today with a rep who lowered my APR to 7.24 including (not +) prime . I am waiting for my next bill to generate to confirm this number, but at this rate this makes my Everyday card incredibly useful in the case that I'd ever need to carry a balance.

Happy Friday, Have a Great Weekend!

Congrats on your success! 7.24% is an amazing APR. I'm surprised that Amex lowered your APR again after only a few weeks since your last APR reduction.