topic Re: AMEX PLAN iT in Credit Cards

AMEX PLAN iT

9CLINE — Thu, 15 Jun 2017 23:18:30 GMT

Got info today on EDP statement, checked suggested site Plan It to check it out... If I am reading correctly this will be similar to Chase's Blueprint plans.... Please give input on your take on it... Sounds good so far,plus other added benefits they're changing...

According to site eligible cardholders will be notified in June billing statement (not available on Charge Cards) .. Doesn't say what the eligibility requirements are that I have seen yet.... Still investigating,, just wanted to share and get input from experts on how this will work...

Thanks in advance for your time..

Re: AMEX PLAN iT

odd_dog — Thu, 15 Jun 2017 23:35:10 GMT

Yes this makes sense I have gotten about 5 "change in terms" letters from Amex this week......

Re: AMEX PLAN iT

Anonymous — Fri, 16 Jun 2017 03:35:39 GMT

Thanks for sharing. This definitely makes Amex more revolver friendly.

Re: AMEX PLAN iT

K-in-Boston — Fri, 16 Jun 2017 22:31:47 GMT

Thanks for the link. Saw this on both my Starwood and Blue statements but had no idea what the program actually was and it didn't show up in Amex's search. Will be interested to see what constitutes an "eligible purchase." "Up to 0.70%" sounds promising since that would be a maximum of 8.4% APR - does everyone else show the same terms or is this profile dependent?

Re: AMEX PLAN iT

9CLINE — Mon, 26 Jun 2017 18:06:29 GMT

I am seeing the same terms so far,,,,,,I presume they'll bring more info in near future..

Edit: 6/26/17 looked at terms again, and made update post

Re: AMEX PLAN iT

medicgrrl — Sun, 25 Jun 2017 23:57:18 GMT

Mine shows 1.04% I'm guessing it's tied to your rate?

Re: AMEX PLAN iT

CreditCuriosity — Mon, 26 Jun 2017 00:51:39 GMT

@medicgrrl wrote:
Mine shows 1.04% I'm guessing it's tied to your rate?

Where does this show? noticed a ton of stuff regarding planit on last bill..

Re: AMEX PLAN iT

medicgrrl — Mon, 26 Jun 2017 01:01:27 GMT

It was in the box about the program....after all of the notices about rate caps

Re: AMEX PLAN iT

CreditCuriosity — Mon, 26 Jun 2017 01:21:16 GMT

@medicgrrl wrote:
It was in the box about the program....after all of the notices about rate caps

Thanks.. Mine is .63 it appears.

Re: AMEX PLAN iT

medicgrrl — Mon, 26 Jun 2017 01:19:16 GMT

Wow...do you have the lowest rate available on the card?

Re: AMEX PLAN iT

CreditCuriosity — Mon, 26 Jun 2017 01:22:52 GMT

My Apr is 14% on the ED card.. My old delta card was like 7.x after prime back in the day. I need to nag them more to try to get my APR down on the ED card although I don't carry balances. Just a challenge

Re: AMEX PLAN iT

medicgrrl — Mon, 26 Jun 2017 01:24:58 GMT

Hopefully K-in-Boston will advise his rate. Mines high...23 or something. I'm just curious about how they're coming up with the fee. It seems like a good deal if you had to carry a balance and had no 0% cards available. It would be comparable to my lowest rate card at a little over 10% I think.

Re: AMEX PLAN iT

K-in-Boston — Mon, 26 Jun 2017 13:30:24 GMT

medicgrrl, my Blue and Starwood cards are in the 15s which is the lowest advertised for each. Looks like every % of APR is .07% probably.

ETA: Decided to take a shot with chat to see if I could lower my Starwood today. Turns out that at 15.99% (that crept up fast with the Prime Rate changes) I actually have 0.25% lower than the lowest advertised, which is now 16.24%. No go, but they did suggest that I inquire again in a few months so it's not like Citi where you're just flat-out told you already have the minimum and they can't go lower.

Re: AMEX PLAN iT

Anonymous — Mon, 26 Jun 2017 16:02:16 GMT

From the info available, it looks like it's not directly translated into APR but multiplying by 12. It sound as like you pay the SAME fee each month that the plan for that charge is active, even though the outstanding balance is declining

Re: AMEX PLAN iT

CreditCuriosity — Mon, 26 Jun 2017 16:17:57 GMT

Details are about as clear as mud at least to me at this point

Re: AMEX PLAN iT

Anonymous — Mon, 26 Jun 2017 16:49:35 GMT

@medicgrrl wrote:
Mine shows 1.04% I'm guessing it's tied to your rate?

.92% on my BCP

Re: AMEX PLAN iT

9CLINE — Mon, 26 Jun 2017 18:01:22 GMT

Looked further at the plan rate on mine today it says .34, my standard Apr is 7.99 right now....

Re: AMEX PLAN iT

K-in-Boston — Tue, 27 Jun 2017 14:54:54 GMT

@9CLINE wrote:
Looked further at the plan rate on mine today it says .34, my standard Apr is 7.99 right now....

Wow, that's... wow! CreditCuriousity wowed me before, but yours is actually open!

So it certainly seems to be tied to APR and since your rate and APR are essentially exactly half of mine that looks logical.

Re: AMEX PLAN iT

wilmer007 — Tue, 27 Jun 2017 15:06:56 GMT

hmm maybe this is why my APR all of a sudden went up from 23.49% to 23.99%. oh well not like it matters to me anyways since i never pay a penny worth of interest on all my cards.

Re: AMEX PLAN iT

K-in-Boston — Tue, 27 Jun 2017 15:21:18 GMT

@wilmer007 wrote:
hmm maybe this is why my APR all of a sudden went up from 23.49% to 23.99%. oh well not like it matters to me anyways since i never pay a penny worth of interest on all my cards.

If by "all of a sudden" you mean over the past few months, it's just the change in Prime Rate as the Fed keeps increasing interest rates by 0.25%. We're back to 2008 rates.