AMEX APR reductions

[Anonymous]

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.

[AllZero]

Congratulations on your APR reductions!

[Demented1]

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

[kdm31091]

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.

[Anonymous]

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@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.

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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. 

[Anonymous]

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.

[Anonymous]

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@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.

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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. 

[kidink1911]

Congratulations on your APR reduction!! 

[Credit4Growth]

Congrats on the permanent arp reduction!

[BAD_UP]

Congrats on your Amex Apr Reduction🎉👍