topic Re: AMEX APR reductions in Credit Cards

AMEX APR reductions

Anonymous — Sun, 31 Jan 2021 23:56:18 GMT

I figured after the success I had with Citi, I would try to crack the tough nut that is AMEX.

I was able to get a promo APR reduction from 21.99% to 19.24% for 12 months on my Cash Magnet.

I was also able to get a permanent reduction from 23.99% to 20.99% on the BCE.

It isn't as amazing of a drop as Citi but it's my understanding that permanent reductions from AMEX are rare so I thought I would share.

Re: AMEX APR reductions

AllZero — Sun, 31 Jan 2021 23:48:35 GMT

Congratulations on your APR reductions!

Re: AMEX APR reductions

Demented1 — Sun, 31 Jan 2021 23:51:00 GMT

Congratulations @Anonymous nice cut…makes using AE a little more enticing!

Re: AMEX APR reductions

kdm31091 — Mon, 01 Feb 2021 00:04:50 GMT

If they are going to offer promotional APRs as opposed to permanent you'd think they'd make it a little more significant of a drop. A 2% drop is better than nothing but unless you are carrying a large balance (which you still wouldn't want to do at 19%!), it seems like a pretty small drop for being only a promotion.

It is good you got a permanent drop on the other account, even though it was still fairly small - it makes more sense because it's on a permanent basis. It's the promotional ones being so small that puzzles me a bit.

Re: AMEX APR reductions

Anonymous — Mon, 01 Feb 2021 00:09:54 GMT

@kdm31091 wrote:
If they are going to offer promotional APRs as opposed to permanent you'd think they'd make it a little more significant of a drop. A 2% drop is better than nothing but unless you are carrying a large balance (which you still wouldn't want to do at 19%!), it seems like a pretty small drop for being only a promotion.

It is good you got a permanent drop on the other account, even though it was still fairly small - it makes more sense because it's on a permanent basis. It's the promotional ones being so small that puzzles me a bit.

Yeah I was not impressed with the promo offer. She started off checking that account and I even asked her if they do permanent ones because, well, even Capital One promo is 7%. When she got to the BCE, up came the permanent one. I wouldn't have shared at all if I didn't get a permanent one. It's small but it's something. I assume I have to wait some time before I can ask for another one.

Re: AMEX APR reductions

Anonymous — Mon, 01 Feb 2021 00:36:49 GMT

congrats on both apr reductions. I asked for a reduction for amex last year and they offered the 2% drop as a promo. I assumed it was due to whats going on in the world right now. I never seen a promo like that? at least do it 7-9% for a year as a promo.

Re: AMEX APR reductions

Anonymous — Mon, 01 Feb 2021 00:47:08 GMT

@Anonymous wrote:
congrats on both apr reductions. I asked for a reduction for amex last year and they offered the 2% drop as a promo. I assumed it was due to whats going on in the world right now. I never seen a promo like that? at least do it 7-9% for a year as a promo.

Yeah it would make sense if it's just a COVID situation thing for sure. I mean I got something and maybe when I don't abuse that which they gave me, they'll be more generous in 6 months. It certainly was kind of funny seeing that low of a promo lol.

Re: AMEX APR reductions

kidink1911 — Mon, 01 Feb 2021 01:29:19 GMT

Congratulations on your APR reduction!!

Re: AMEX APR reductions

Credit4Growth — Mon, 01 Feb 2021 01:34:02 GMT

Congrats on the permanent arp reduction!

Re: AMEX APR reductions

BAD_UP — Mon, 01 Feb 2021 03:11:31 GMT

Congrats on your Amex Apr Reduction🎉👍

Re: AMEX APR reductions

M_Smart007 — Mon, 01 Feb 2021 09:10:15 GMT

Congrats! ..

Re: AMEX APR reductions

M_Smart007 — Mon, 01 Feb 2021 09:24:03 GMT

@Anonymous wrote:
I figured after the success I had with Citi, I would try to crack the tough nut that is AMEX.

I was able to get a promo APR reduction from 21.99% to 19.24% for 12 months on my Cash Magnet.

I have never asked Amex for APR reduction .. I would never carry a balance anyhow.

Original Chase APR .. I don't even bother to ask for reduction..

https://i.imgur.com/zWKBILJ.png

Total interest paid for 2020 is less than $2.00 (yes less than "two" dollars)

Lowest is NFCU @ 5.99% and SFCU @7.99%

And Penfed is just Penfed

sorry for OT

Re: AMEX APR reductions

Mr_Mojo_Risin — Mon, 01 Feb 2021 23:19:28 GMT

Very nice! We need that action from time to time, whether it's APR reductions or a CLI! Lol

Cheers!