topic Re: BCP 0% APR for 12 Months in Credit Cards

BCP 0% APR for 12 Months

Anonymous — Fri, 13 Jul 2012 04:59:31 GMT

When I got my BCP, it came with 0% APR for 12 months. They, being AMEX, don't really mean this do they?

From what I know about AMEX, they STRONGLY frown on any balance carry overs, correct? I wonder why they offer the 0% APR when anyone who took advantage of it would be sure to receive AA, right?

Re: BCP 0% APR for 12 Months

Anonymous — Fri, 13 Jul 2012 05:51:22 GMT

What you are saying has lots of merit. It is a bit overstated however. I don't think it means automatic AA or anything close to that. However if you ran the card up and left the balance to take advantage of 0%, don't expect a cli. They prefer you to pay off your balance. At the very least, you should be rapidly paying down your balance. For example, 1k balance and minimum payment of 50. Payments should be at least 200 a month above new charges. Amex seems to have retained their charge card mentality.

Re: BCP 0% APR for 12 Months

Anonymous — Fri, 13 Jul 2012 06:16:32 GMT

My new card is backdated to 1981 so, I KNOW the ways of American Express.

Believe me, I am not about to carry a balance! But, I just wonder WHY they offer a 0% APR for 12 months???

I feel sorry for the folks who, unknowingly, might try carrying a $1k balance making minimum payments of $84 on that $1k balance for 12 months!

Re: BCP 0% APR for 12 Months

Anonymous — Fri, 13 Jul 2012 06:18:57 GMT

I doubt they will get AA. However they better learn to love that 1k limit.

Re: BCP 0% APR for 12 Months

Anonymous — Fri, 13 Jul 2012 13:08:45 GMT

@Anonymous wrote:
I doubt they will get AA. However they better learn to love that 1k limit.

Not being allowed to grow beyond an initial credit limit is a type of AA, don't you agree? I can just imagine the unsuspecting cardholder being surprised to find out they're not eligible for a credit limit increase because they took advantage of the 0% APR, ya know.

Hopefully, people on this forum are learning!

Re: BCP 0% APR for 12 Months

Anonymous — Fri, 13 Jul 2012 13:13:33 GMT

If you're a cardmember who isn't looking for an Auto-CLI or a CLI, the 0% is perfect.

We just live under the impression that everyone is as knowledgeable as us when it comes to AMEX, but typically, that's not the case.

I actually carried a balance last month. Why? Because I can til next year.

If they frown on it and don't want to CLI me in a few months, oh well.

If the "unsuspecting cardholder" carries balances over from month to month and get denied a CLI, do they actually state that as a reason for denial?

Re: BCP 0% APR for 12 Months

Anonymous — Fri, 13 Jul 2012 13:26:13 GMT

Actually, I've read on here of folks who have been denied an American Express card because they carried balances on their credit cards. That IS one of the reasons they use sometimes for rejecting a new applicant.

It will be interesting to see how they treat people who use the 0% APR offer for 12 months.

Re: BCP 0% APR for 12 Months

dude11 — Fri, 13 Jul 2012 13:45:59 GMT

Maybe they offer this because just about everyone else does even if they may not like it. Just a guess. Then again they still are a CC just like the others and they are all "sharks."

Re: BCP 0% APR for 12 Months

Anonymous — Fri, 13 Jul 2012 14:08:01 GMT

Interesting.

Guess I'll find out for myself, even though it was just one month.

Re: BCP 0% APR for 12 Months

Anonymous — Fri, 13 Jul 2012 14:57:34 GMT

Says something like history of limited payments or something like that.

Re: BCP 0% APR for 12 Months

Anonymous — Fri, 13 Jul 2012 16:55:45 GMT

I'm sure they offer that 0% intro APR because practically every other prime CCC does the same thing. It's also smart because if the CC owner screws up and doesn't pay the balance off in full by the end of the intro period, they have to pay interest charges.

Re: BCP 0% APR for 12 Months

Anonymous — Fri, 13 Jul 2012 17:03:42 GMT

@Anonymous wrote:
I'm sure they offer that 0% intro APR because practically every other prime CCC does the same thing. It's also smart because if the CC owner screws up and doesn't pay the balance off in full by the end of the intro period, they have to pay interest charges.

Interest charges and probably NOT getting any CLI either.....