topic American Express Promotional Interest Offer in Credit Cards

American Express Promotional Interest Offer

Anonymous — Mon, 29 Aug 2016 18:51:51 GMT

FYI...

I hope everyone is having a good Monday. Hubby and I both received promotional interest rate offers for 6.99% on new purchases for 12 billing statements. I have a BCE and he has Clear.

Re: American Express Promotional Interest Offer

NRB525 — Mon, 29 Aug 2016 19:22:38 GMT

Congrats! I do not expect to get this offer, because I stupidly accepted a temporary APR decrease on my Delta card from 20% to the competitive rate of 19%

You could check closely on the language of the offer. I got a similar low rate offer in Nov 2014, 12 months at a low APR, which I used. Then I got a correction notice a few months ago. They clarified that the low APR offer was intended to last until the specific charges made during the promo period were paid off, and I got a small interest credit on my AMEX statement. If similar language on this one, then a purchase gets a Forever rate, not a purchase rate that expires. New purchase after the promotion period would go to your regular rate, but possible to stretch the low rate out a bit longer if the same terms.

Re: American Express Promotional Interest Offer

galahad15 — Mon, 29 Aug 2016 20:19:25 GMT

Congratulations!

Re: American Express Promotional Interest Offer

Anonymous — Mon, 29 Aug 2016 21:21:12 GMT

@galahad15 wrote:
Congratulations!

Thanks galahad15!

Re: American Express Promotional Interest Offer

Anonymous — Mon, 29 Aug 2016 22:01:25 GMT

@NRB525 wrote:
Congrats! I do not expect to get this offer, because I stupidly accepted a temporary APR decrease on my Delta card from 20% to the competitive rate of 19%

You could check closely on the language of the offer. I got a similar low rate offer in Nov 2014, 12 months at a low APR, which I used. Then I got a correction notice a few months ago. They clarified that the low APR offer was intended to last until the specific charges made during the promo period were paid off, and I got a small interest credit on my AMEX statement. If similar language on this one, then a purchase gets a Forever rate, not a purchase rate that expires. New purchase after the promotion period would go to your regular rate, but possible to stretch the low rate out a bit longer if the same terms.

Okay. Thanks for the heads up NRB.

Re: American Express Promotional Interest Offer

Credit_hawk — Mon, 29 Aug 2016 22:01:59 GMT

@beautifulblaquepearl wrote:
FYI...
I hope everyone is having a good Monday. Hubby and I both received promotional interest rate offers for 6.99% on new purchases for 12 billing statements. I have a BCE and he has Clear.

Very cool! How long have you guys hard your cards for?

Re: American Express Promotional Interest Offer

wmweeza — Mon, 29 Aug 2016 22:54:06 GMT

I got the same offer, but I never carry a balance so I'm not so sure it would be of use to me. In a year when we buy our second home? Absolutely, but not right now.

FYI I've had my card since October of 2014

Re: American Express Promotional Interest Offer

Anonymous — Tue, 30 Aug 2016 00:03:50 GMT

Wow...that's nice!!