topic Re: Amex APR reductions are alive again... in Credit Cards

Amex APR reductions are alive again...

CreditCuriosity — Wed, 28 Aug 2019 21:12:57 GMT

So saw a few successes lately with AMEX apr reductions. As alot of you know they have been very rare lately if not impossible to get for the last several years. It appears they are back, thankfully!! I was able to get anywhere from 3-4% apr reductions across the board on my personal card and 4 business Amex Revolvers . Always better to have better terms just in case.. I did it by chat.. I will hit them up in another month for cards that aren't already at the lowest published apr's as they were laying on some heavy apr's recently for people with excellent credit myself included. Hopefully they rectify that for other people that deserve better apr's for have good/excellent credit. Might want to hit up chat and go for yours as well if the 20%+'s have been driving you crazy as well! Best of luck.

BTW these are permanent apr reductions.

Re: Amex APR reductions are alive again...

FinStar — Wed, 28 Aug 2019 21:24:46 GMT

Great DPs and thanks for sharing @CreditCuriosity. Curious, did they do them all at once in one chat session?

Re: Amex APR reductions are alive again...

CreditCuriosity — Wed, 28 Aug 2019 21:33:17 GMT

@FinStar wrote:
Great DPs and thanks for sharing @CreditCuriosity. Curious, did they do them all at once in one chat session?

Lol Yep... I think he was slightly annoyed by the end of the conversation... I actually must correct something it was 4 revolvers lowered as forgot my simplycash was on a 0% apr, so that one wasn't able to be done at the time.. Cool rep.. I said what is the point of having a 800 score with some, if not the worse terms on cards as that isnt the price you pay for credit..

Re: Amex APR reductions are alive again...

FinStar — Wed, 28 Aug 2019 21:31:16 GMT

Awesome, glad to hear you were able to achieve great results on them 👍😁

Re: Amex APR reductions are alive again...

Anonymous — Wed, 28 Aug 2019 22:26:06 GMT

Going to try this now on my only Amex (BCE) account. I have no clue what my current APR is, but will ask via chat for a reduction and see what happens. I will report back. Thanks for the heads up!

Re: Amex APR reductions are alive again...

Anonymous — Wed, 28 Aug 2019 22:35:53 GMT

Well, that didn't take long, as evidenced by the time stamped on my last post.

Reduction from 14.99% --> 13.74%

CC, I may have missed it in your original post, but what was your before/after APR?

Re: Amex APR reductions are alive again...

CreditCuriosity — Wed, 28 Aug 2019 22:41:28 GMT

@Anonymous wrote:
Well, that didn't take long, as evidenced by the time stamped on my last post.

Reduction from 14.99% --> 13.74%

CC, I may have missed it in your original post, but what was your before/after APR?

Congrats they all varied as 4 different cards i got them on.. highest was 25.x!!! Ranged from 18-25% Cash magnet was the biggest offender. Hopefully this sticks around a few months now the cat is out of the bag as not at lowest published apr on a few cards still.. Amex also goes below or use to go below published aprs.. I had an old delta that i no longer have around 6%ish after several apr reductions over several months

Re: Amex APR reductions are alive again...

Anonymous — Wed, 28 Aug 2019 23:40:41 GMT

Good to know.

Are there any set guidelines as far as how often one can receive an APR reduction? I know some lenders like Discover for example require 6 months between them, where others like Citi have no time constraints and you can literally get one every day for several days if your profile allows for it.

Re: Amex APR reductions are alive again...

CreditCuriosity — Thu, 29 Aug 2019 01:25:02 GMT

Can try every statement if you so wish they worse they can say is no.. No guidelines last time I use to get them from them.. Think I did each statement and got them like clock work.. Your APR is pretty low now which is probably the lowest published APR? Not sure if they go below published apr's anymore with apr reductions at this time? Suppose one way to find out..

Re: Amex APR reductions are alive again...

Anonymous — Thu, 29 Aug 2019 01:59:02 GMT

No go for me.......

Re: Amex APR reductions are alive again...

j615 — Thu, 29 Aug 2019 02:10:45 GMT

Just did a chat session. Super easy. 17.99% to 14.99%

Re: Amex APR reductions are alive again...

Anonymous — Thu, 29 Aug 2019 03:00:17 GMT

@Anonymous wrote:

No go for me.......

What's your current APR? Maybe it's already at the lowest possible?

Does anyone know the lowest APR possible on an Amex revolver?

Re: Amex APR reductions are alive again...

kdm31091 — Thu, 29 Aug 2019 10:26:03 GMT

A few years ago when they did permanent APR reductions they were dropping a lot of APRs well below published rates. It could be now that they're brought this back (for some people), they're being more cautious and they're not going to lower it below the rate range for the product you have.

Re: Amex APR reductions are alive again...

Anonymous — Thu, 29 Aug 2019 16:36:16 GMT

I was able to get permanent reductions last month for my 3 revolvers. Glad to see others having the same success.

Re: Amex APR reductions are alive again...

KJinNC — Thu, 29 Aug 2019 17:25:13 GMT

Will it definitely not happen for a newly opened card (opened two weeks ago - no statement yet)? Is it worth trying? Thanks!

Re: Amex APR reductions are alive again...

CreditCuriosity — Thu, 29 Aug 2019 18:27:16 GMT

@KJinNC wrote:
Will it definitely not happen for a newly opened card (opened two weeks ago - no statement yet)? Is it worth trying? Thanks!

IMO it is a long shot, but can always try.. Usually it is based on relationship with them, obviously credit profile and putting money through their cards among other things. I would give it 3 months, but I suppose a squeaky wheel can get grease as well?

Re: Amex APR reductions are alive again...

M_Smart007 — Thu, 29 Aug 2019 19:04:35 GMT

While on The phone with Amex for another small Issue, I got My Hilton Card APR reduced by 3%.

I never carry any balances, so it's kind of a self Grats thing.

I did ask for a rate reduction on My Gold charge card (I do not use POT) , ...I Got a good laugh on that.

Rep Thanked me for over 35 years with them. I thanked Him, for treating people as being Human.

Re: Amex APR reductions are alive again...

Anonymous — Thu, 29 Aug 2019 21:09:10 GMT

Good to know, though I'll have to wait a couple cycles to let my score rebound from inq and new account. So i hope they're still being generous then.

I'm curious though, could this all be due to the fed lowering rates recently?

Re: Amex APR reductions are alive again...

CreditCuriosity — Thu, 29 Aug 2019 21:28:52 GMT

@Anonymous wrote:
Good to know, though I'll have to wait a couple cycles to let my score rebound from inq and new account. So i hope they're still being generous then.

I'm curious though, could this all be due to the fed lowering rates recently?

no as rate reduction was only a quarter point.. It will most likely be another .5 to 1 point in the next year, but time will tell, but no correlation persay

Re: Amex APR reductions are alive again...

AverageJoesCredit — Fri, 30 Aug 2019 02:36:24 GMT

Grats @CreditCuriosity on your reductions. Of all creditors, getting apr redux from Amex is least pressing as i want to pif with them so meh but who knows maybe ill try one day.