topic Re: AMEX EVERYDAY CARD - APR REDUCTION in Credit Cards

AMEX EVERYDAY CARD - APR REDUCTION

Isacking97 — Sun, 25 Dec 2016 23:08:47 GMT

Whats the lostest APR redution have you got in your amex card?

My is at 0% until April 2017, after that is 17.49%

Recomendations?

Re: AMEX EVERYDAY CARD - APR REDUCTION

Anonymous — Mon, 26 Dec 2016 02:02:09 GMT

@Isacking97 wrote:
Whats the lostest APR redution have you got in your amex card?

My is at 0% until April 2017, after that is 17.49%

Recomendations?

thats common with all amex revolvers and charge cards lately. Seems to be either 0% for 6-12 months or 6.99 for 12 months. Its not permanent. Wish they'd go back to permanent ones. Think I need to get over it and look at it as a positive thing esp w the rate hike. Even though I dont pay much in the forms of fees or interest, its better than nothing

Re: AMEX EVERYDAY CARD - APR REDUCTION

ScoreOrBeScored — Mon, 26 Dec 2016 03:33:43 GMT

My perm APR is 6.74%.

But due due to the recent increase it's now 6.99%

this is on my BCE

Re: AMEX EVERYDAY CARD - APR REDUCTION

JamP — Mon, 26 Dec 2016 04:07:44 GMT

My BCE and ED were approved at 12.99.

My ED is closed but my BCE is 12.49 for 8 months and then back to 13.49

One of these days they may give me a perm reduction.

Re: AMEX EVERYDAY CARD - APR REDUCTION

austinguy907 — Mon, 26 Dec 2016 05:12:45 GMT

I would talk to amex either on chat or phone and ask what offers are on your account at the time. They don't renew the 0% like Disco will but, there's usually something available that will save a couple of % points if you carry a balance. Once my 0% was up I chatted with them online and dropped 3% off for 12 months. The likelyhood of a permanent reduction though is slim to none.

Re: AMEX EVERYDAY CARD - APR REDUCTION

Anonymous — Mon, 26 Dec 2016 05:42:08 GMT

@ScoreOrBeScored wrote:
My perm APR is 6.74%.

But due due to the recent increase it's now 6.99%

this is on my BCE

Whoa what? Can you tell us some of the steps you took to get it so low please ?

TYVM!?

Re: AMEX EVERYDAY CARD - APR REDUCTION

Anonymous — Tue, 27 Dec 2016 08:18:11 GMT

@Anonymous wrote:
@ScoreOrBeScored wrote:
My perm APR is 6.74%.

But due due to the recent increase it's now 6.99%

this is on my BCE
Whoa what? Can you tell us some of the steps you took to get it so low please ?
TYVM!?

Lots of folks had luck with apr reductions earlier this year. I got my 17 or 19% delta down to 12 then 10 then 8.49 in 2 months around march or april!!!! I would LOVE to have this apr on my SPG card and would move some credit to the card if that were the case!!!

Re: AMEX EVERYDAY CARD - APR REDUCTION

kdm31091 — Tue, 27 Dec 2016 11:35:36 GMT

Amex used to be known for fairly easily reducing the APR permanently; in recent times, seems they have tightened up on it somewhat and tend to offer promo reductions only.

Even a 7% APR permanent won't beat a 0% promo assuming you can pay the expense off within the promo, so really, the promo is better financially for most situations. The low APR may feel satisfying, but 0% for any length of time is really best if you actually need to finance a purchase. If not, the APR doesn't matter anyway.

Re: AMEX EVERYDAY CARD - APR REDUCTION

Anonymous — Tue, 27 Dec 2016 21:17:36 GMT

Whenever I see APR related threads, while it isn't the answer the OP is looking for I always feel the need to step in and suggest that they work on getting to a point where APR is irrelevant. Easier said than done for some and I can understand if one is carrying a decent amount of debt (that they can't just pay off) that an APR reduction could be beneficial. I'm speaking more to those that have the ability to PIF every month but for whatever reason don't and sort of submit to paying monthly interest for whatever reason. Just throwing in my 2 cents here that I always recommend that anyone do their best to become a Transactor and PIF ever month, thus making APR worries a thing of the past. I honestly couldn't tell you the APR on any of my cards right now as I've never looked or even cared to know.

Re: AMEX EVERYDAY CARD - APR REDUCTION

wmweeza — Tue, 27 Dec 2016 21:51:39 GMT

@Anonymous wrote:
Whenever I see APR related threads, while it isn't the answer the OP is looking for I always feel the need to step in and suggest that they work on getting to a point where APR is irrelevant. Easier said than done for some and I can understand if one is carrying a decent amount of debt (that they can't just pay off) that an APR reduction could be beneficial. I'm speaking more to those that have the ability to PIF every month but for whatever reason don't and sort of submit to paying monthly interest for whatever reason. Just throwing in my 2 cents here that I always recommend that anyone do their best to become a Transactor and PIF ever month, thus making APR worries a thing of the past. I honestly couldn't tell you the APR on any of my cards right now as I've never looked or even cared to know.

I agree! I have never carried a balance except on my BofA card, andthat was for a few weeks. I hate paying extra just to use my own money so APR is irrelevant to me. I have savings for an emergency, I'm sure someday I'll carry a balance though, like the month we move into our next home. I see no point in paying more, so I only charge what I can afford to buy

Re: AMEX EVERYDAY CARD - APR REDUCTION

JamP — Wed, 28 Dec 2016 01:09:16 GMT

Some of us try for SP CLI's and APR reductions instead of applying for new cards

Re: AMEX EVERYDAY CARD - APR REDUCTION

Anonymous — Wed, 28 Dec 2016 01:30:30 GMT

@Anonymous wrote:
Whenever I see APR related threads, while it isn't the answer the OP is looking for I always feel the need to step in and suggest that they work on getting to a point where APR is irrelevant. Easier said than done for some and I can understand if one is carrying a decent amount of debt (that they can't just pay off) that an APR reduction could be beneficial. I'm speaking more to those that have the ability to PIF every month but for whatever reason don't and sort of submit to paying monthly interest for whatever reason. Just throwing in my 2 cents here that I always recommend that anyone do their best to become a Transactor and PIF ever month, thus making APR worries a thing of the past. I honestly couldn't tell you the APR on any of my cards right now as I've never looked or even cared to know.

I don't pay much in the form of interest or fees. To me, getting APR reductions is just a way of reinforcing that my credit score has improved. That is the only reason I am constantly seeking them. I suppose a small part of me wants to have them as a just in case scenario. I surely would not want to pull money out of something earning 7-10% return that might have a penalty when I could just put it on a credit or charge card.

Theres also something magical about having a single digit card, ideally fixed, even better if it earns rewards, and having extended warranty or other perks. It is nice sometimes to be able to take a month or two extra to pay something off so that I get the maximum amount of dividends possible.

I just think about my capital one quicksilver card that is at 25.15 percent and think wow, really? Or my commerce bank at 20.49...yet it earns 3% on insurance payments some quarters and a few other neat categories like charitable donations...regardless, not paying in full starts to negate the cash back.

I think there is no universal system for what is acceptable for everyone. I try to be a mix of ramsey and orman. Always looking for new ways to invest (lending robot) and also encouraging others to have 6 month emergency fund. And most importantly once all debt is paid off and you are on the path to wealth, to be able to finally tithe or help others (which I certainly do enough of that!).

Re: AMEX EVERYDAY CARD - APR REDUCTION

Anonymous — Wed, 28 Dec 2016 01:49:05 GMT

@JamP wrote:
Some of us try for SP CLI's and APR reductions instead of applying for new cards

Not sure what SP CLIs and APR reductions have to do with the decision to apply for a new card or not?

Re: AMEX EVERYDAY CARD - APR REDUCTION

JamP — Wed, 28 Dec 2016 01:55:42 GMT

@Anonymous wrote:
@JamP wrote:
Some of us try for SP CLI's and APR reductions instead of applying for new cards
Not sure what SP CLIs and APR reductions have to do with the decision to apply for a new card or not?

Instead of scratching the itch to apply for new cards all the time, I try for SP CLI's and APR reductions instead, sorta like people trying for World/World Elite and Signature upgrades.

Its easier on the credit scores and still feels like an approval.

Re: AMEX EVERYDAY CARD - APR REDUCTION

Anonymous — Tue, 03 Jan 2017 03:42:47 GMT

@Anonymous wrote:
@Anonymous wrote:
@ScoreOrBeScored wrote:
My perm APR is 6.74%.

But due due to the recent increase it's now 6.99%

this is on my BCE
Whoa what? Can you tell us some of the steps you took to get it so low please ?
TYVM!?
Lots of folks had luck with apr reductions earlier this year. I got my 17 or 19% delta down to 12 then 10 then 8.49 in 2 months around march or april!!!! I would LOVE to have this apr on my SPG card and would move some credit to the card if that were the case!!!

Did you use chat or call in ?

Re: AMEX EVERYDAY CARD - APR REDUCTION

noobody — Tue, 03 Jan 2017 11:27:25 GMT

I chat with csr for apr reduction every several months on both my SPG and BCE also on my citi premier.
Have some success on 2015, no luck at all on 2016.