topic Re: American Express (AmEx) Permanent Interest Rate Reduction in Credit Cards

American Express (AmEx) Permanent Interest Rate Reduction

PayAndProsper — Sun, 20 Apr 2025 20:22:59 GMT

On April 12, 2025, I entered into the chat in my American Express app to request a permanent interest rate reduction on my BCE. After some chatting and a quick back and forth, I was granted a permanent 1.25% interest rate reduction on my variable rate, going from Prime + 10.74% to Prime + 9.49%.

I have seen some past conversation debating whether or not it was possible to receive a permanent interest rate reduction. So, I have included screenshots of the process and a copy of the letter I received acknowledging the reduction as data points.

I hope this helps someone.

Re: American Express (AmEx) Permanent Interest Rate Reduction

JustinVincent — Sun, 20 Apr 2025 20:42:40 GMT

Almost like pulling teeth

Re: American Express (AmEx) Permanent Interest Rate Reduction

PayAndProsper — Mon, 21 Apr 2025 01:19:33 GMT

@JustinVincent escribió:
Almost like pulling teeth

I get how you could see it that way.

I choose to think that it is likely that English was not the rep's first language, and that he did not truly understand what I was asking for or if it was possible. I had to ask twice, yes, but I got the end result that I desired. I respect and appreciate that he took the time to check rather than just saying it was impossible and cutting the conversation short. People make mistakes sometimes. We are all in a constant state of evolution and learning.

16.99% APR @ a major bank is not too common with a recent account. It's lower than the advertised interest rates on the American Express website. I just try to come from a place of gratitude and appreciation.

Re: American Express (AmEx) Permanent Interest Rate Reduction

mgood — Sun, 20 Apr 2025 21:46:52 GMT

Congrats. Looks like your persistence paid off.

Re: American Express (AmEx) Permanent Interest Rate Reduction

unsungivy — Sun, 20 Apr 2025 23:44:59 GMT

Thank you for sharing!

I've tried several times on my oldest card. Looks like armed with this, I will try again!

Re: American Express (AmEx) Permanent Interest Rate Reduction

PayAndProsper — Mon, 21 Apr 2025 01:23:13 GMT

@mgood escribió:
Congrats. Looks like your persistence paid off.

Thanks. It did.

@unsungivy escribió:
Thank you for sharing!

I've tried several times on my oldest card. Looks like armed with this, I will try again!

You're welcome. Good luck! I hope it works out. Let us know how it turns out!

Re: American Express (AmEx) Permanent Interest Rate Reduction

JSUB — Mon, 21 Apr 2025 17:38:33 GMT

@JustinVincent wrote:
Almost like pulling teeth

I finished the thread and thought that was painful.

To the OP: Did you have to wait a year to lower the APR?

Re: American Express (AmEx) Permanent Interest Rate Reduction

PayAndProsper — Mon, 21 Apr 2025 18:56:20 GMT

@JSUB escribió:
@JustinVincent wrote:
Almost like pulling teeth
I finished the thread and thought that was painful.

To the OP: Did you have to wait a year to lower the APR?

I cannot tell you if I had to wait a year, or any other quantity of time. The card was opened in August 2023. I requested the CLI—for the first time—April 12, 2025.

I did wait a little more than a year-and-a-half, but I do not know if that was "necessary."