topic Re: Amex APR Reduction Success, twice in Credit Cards

Amex APR Reduction Success, twice

smc733 — Wed, 01 Feb 2012 14:06:17 GMT

Hi all,

So my Amex Blue Cash Everyday opened with a 22.24% APR in September of 2011, on a promotional 0% rate until March of this year. However, I was not satisfied with that rate, so in late December/early January I called the executive office, where they lowered the rate to 19.24%, or by "3" percent. As a FICO nerd, this morning I was bored and called again, and once again, they lowered it by 3 percent, to 16.24%... (which is 1% lower than they offer new BCE accounts, at 17.24)

Now, what I'm wondering is, I would be very happy to have this rate match my Sapphire (I plan to pair the two up for my day to day spending), which is at 15.24%, what is the lowest they offer on most of their new cards (the Cash, Sky and Clear cards are the notable exception starting at 17.24%). I am wondering if I call back again in March if I would have success to lower the APR to 15.24%.

Re: Amex APR Reduction Success, twice

CS800 — Wed, 01 Feb 2012 14:17:04 GMT

Nice !

My BCE is at 21.99% . I got it in December last and still at 0% until June. I might do that just before my promo ends. My lowest right now is my Chase Freedom at 17.99

Re: Amex APR Reduction Success, twice

smc733 — Wed, 01 Feb 2012 14:33:34 GMT

@CS800 wrote:
Nice !

My BCE is at 21.99% . I got it in December last and still at 0% until June. I might do that just before my promo ends. My lowest right now is my Chase Freedom at 17.99

Ouch! What other cards do you have?

I went on an APR redux spree and got

BofA is stuck 10.99 (tried for 9.99, got a no)

Citi 14.24>12.24

Discover 15.99>12.99

Chase (opened Sapphire at 15.24)

Amex 22.24>19.24>16.24

Re: Amex APR Reduction Success, twice

nomoore — Wed, 01 Feb 2012 14:36:28 GMT

It always bugs me that the APR on my BCP is so high. I always have to tell myself that I PIF every month anyway so it doesn't matter. Besides that, I don't think they would ever lower it enough to satisfy me. There are other cards out there that are designed to be low APR and my BCP isn't one of them.

Re: Amex APR Reduction Success, twice

smc733 — Wed, 01 Feb 2012 14:47:06 GMT

@nomoore wrote:
It always bugs me that the APR on my BCP is so high. I always have to tell myself that I PIF every month anyway so it doesn't matter. Besides that, I don't think they would ever lower it enough to satisfy me. There are other cards out there that are designed to be low APR and my BCP isn't one of them.

People told me that all the time when I had a Freedom that was stuck at 22.99. I was simply not comfortable with that mindset, becuase if things happen (which they do), that rate could be the difference between getting out of trouble or not. I closed that account for a much more reasonably priced Sapphire at 15.24.

Re: Amex APR Reduction Success, twice

credithappy — Wed, 01 Feb 2012 16:36:26 GMT

Congrulations on your reduct of your the intersest rate regarding your Amex CC.

Re: Amex APR Reduction Success, twice

Anonymous — Thu, 02 Feb 2012 02:49:24 GMT

Thanks so much for sharing!! This got me thinking about my high-ish APRs and I decided to call in and see what they could do. The Amex CSR I spoke to said it is based partly on payment history and since I never carry a balance she offered 3% off both my cards.

Blue Cash Everyday 19.24 to 16.24%

Starwood Preferred Guest 15.24 to 12.24%

Crazy thing is I just got the Starwood and the first billing cycle has not even closed yet

Re: Amex APR Reduction Success, twice

Anonymous — Thu, 02 Feb 2012 04:35:57 GMT

Well, now you both got me wanting to do it on my BCE! I got the highest at 22.24%, despite an EX Fico of 740's... I attribute it to it being my first AMEX. But seeing as how I got a CLI and it's been my primary card since I got it, hopefully the ativity is enough to get them to lower it, too.

But, I DID get 1 year of 0%

Re: Amex APR Reduction Success, twice

Anonymous — Thu, 02 Feb 2012 04:41:58 GMT

@Anonymous wrote:
Well, now you both got me wanting to do it on my BCE! I got the highest at 22.24%, despite an EX Fico of 740's... I attribute it to it being my first AMEX. But seeing as how I got a CLI and it's been my primary card since I got it, hopefully the ativity is enough to get them to lower it, too.

But, I DID get 1 year of 0%

I agree, they started me rather high on the BCE too since it was my first card with them. I think once they get a feel for how you handle your account they are willing to go down, even below the lowest APR offered on their website.

Re: Amex APR Reduction Success, twice

Anonymous — Thu, 02 Feb 2012 05:05:59 GMT

what the heck called in for my chase freedom too. no go buts its a relatively new account

Re: Amex APR Reduction Success, twice

smc733 — Thu, 02 Feb 2012 13:22:52 GMT

@Anonymous wrote:
what the heck called in for my chase freedom too. no go buts its a relatively new account

With Chase, you might as well go talk to a brick wall. They do not change APRs at customer request, very annoying IMO.

I'm wondering how low I can get Amex to go now. I screwed up and applied for a regular Blue, and got approved. So now I want to combine the two limits into one BCE with a nice low APR, I'm wondering if I can get them down to 12.24%. That would be SICK for an Amex card.

Re: Amex APR Reduction Success, twice

CS800 — Thu, 02 Feb 2012 14:11:09 GMT

@smc733 wrote:
@CS800 wrote:
Nice !

My BCE is at 21.99% . I got it in December last and still at 0% until June. I might do that just before my promo ends. My lowest right now is my Chase Freedom at 17.99
Ouch! What other cards do you have?

I went on an APR redux spree and got

BofA is stuck 10.99 (tried for 9.99, got a no)
Citi 14.24>12.24
Discover 15.99>12.99
Chase (opened Sapphire at 15.24)
Amex 22.24>19.24>16.24

My lowest is my Chase Freedom at 17.99

The rest hovers around 19.99-22.99

I should call AMEX and try to get an APR reduction. Should I wait until my 0% promo is gone then call?

Re: Amex APR Reduction Success, twice

smc733 — Thu, 02 Feb 2012 14:25:45 GMT

I've already had 2 APR reductions from Amex and my 0% isn't up till March.

Re: Amex APR Reduction Success, twice

Anonymous — Thu, 02 Feb 2012 15:34:28 GMT

Congrats! What's the number for the executive office?

Edit: Found it

Thanks,

Re: Amex APR Reduction Success, twice

Anonymous — Thu, 02 Feb 2012 15:45:24 GMT

@Anonymous wrote:
Congrats! What's the number for the executive office?

Edit: Found it

Thanks,

Just FYI, you can actually call the CS number on the back of your card and request the same thing. Doesn't need to be through the exec office.

Re: Amex APR Reduction Success, twice

scottwagnon — Fri, 03 Feb 2012 07:06:47 GMT

@smc733 wrote:

I went on an APR redux spree and got

BofA is stuck 10.99 (tried for 9.99, got a no)
Citi 14.24>12.24
Discover 15.99>12.99
Chase (opened Sapphire at 15.24)
Amex 22.24>19.24>16.24

I AM CRINGING WITH ENVY. ARRGH! not fair! moooo!

have not reduced BofA yet; at 12.99

citi - failed attempt; still at 14.24 started at 19.99 with promo; got 14.24 when i pc'd to dividend

discover - 19.99>18.24

amex blue cash everyday 19.24>18.24>fail

amex hilton hhonors 15.24>12.24

requesting hhonors was not a well planned move. perhaps if i had asked for bce first instead of hhonors, my bce would have been 15.24. oh well.

Re: Amex APR Reduction Success, twice

Anonymous — Fri, 03 Feb 2012 07:17:13 GMT

@smc733 wrote:
@Anonymous wrote:
what the heck called in for my chase freedom too. no go buts its a relatively new account
With Chase, you might as well go talk to a brick wall. They do not change APRs at customer request, very annoying IMO.

I'm wondering how low I can get Amex to go now. I screwed up and applied for a regular Blue, and got approved. So now I want to combine the two limits into one BCE with a nice low APR, I'm wondering if I can get them down to 12.24%. That would be SICK for an Amex card.

I agree 100%...I spoke with Chase Executive and the person said they don't have the ability to lower it or match another Chase card I have with them. What's interesting is my Chase Slate interest is higher than the max they currently offer new card members. I asked how that is fair and the rep said different terms dictate different rates regardless if the same card is being offered at a lower max rate. So I said "great thanks for shafting your current cardmembers and rewarding new card members with better terms"

Re: Amex APR Reduction Success, twice

Anonymous — Fri, 03 Feb 2012 19:41:59 GMT

Called in to AmEx wanting 2 things. First is that my last name was spelled wrong on my card (I've known this since I got it back in August but didn't really ever care since it was a single letter [M instead of N], but thought I'd kill 2 birds with one stone) They were able to fix it quickly and are expediting me a new card, which should be here on Monday (2 days, not bad)

Then I asked for an APR reduction, since I'm currently at 22.24%. She said that I am still under the 0% for 12 months promotion until September, but I'd be able to call in September to get it lowered once it takes effect.

Granted, I just called a normal CSR from the number on the back of the card and not the excutive office, so maybe that's my problem?

Re: Amex APR Reduction Success, twice

Anonymous — Fri, 03 Feb 2012 21:17:52 GMT

@Anonymous wrote:

Granted, I just called a normal CSR from the number on the back of the card and not the excutive office, so maybe that's my problem?

Nope, I called the # on the back of my card and the frontline CSR was able to lower the APR on both my cards. She said all cards eligible for an APR reduction will show that when she pulls up your account.

Re: Amex APR Reduction Success, twice

Anonymous — Fri, 03 Feb 2012 21:56:45 GMT

I just got off the phone with an Amex CSR and was able to reduce the APR on my Blue Cash from 16.24% to 13.24%

I then asked if I could get the 17.24% APR on my newly approved Gold Delta Sky Miles card reduced...got it down to 14.24%

I also tried to get a reduction on my newly approved Blue Sky which was set at 22.24 with 0% APR on purchases for 12 months.

The rep said I need to wait till January of next year when the 0% promo ends before I can get a reduction.

Overall I am happy with my results with just talking to a CSR