AMEX EVERYDAY CARD - APR REDUCTION

[JamP]

Some of us try for SP CLI's and APR reductions instead of applying for new cards 

[Anonymous]

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@Anonymous wrote:

Whenever I see APR related threads, while it isn't the answer the OP is looking for I always feel the need to step in and suggest that they work on getting to a point where APR is irrelevant.  Easier said than done for some and I can understand if one is carrying a decent amount of debt (that they can't just pay off) that an APR reduction could be beneficial.  I'm speaking more to those that have the ability to PIF every month but for whatever reason don't and sort of submit to paying monthly interest for whatever reason.  Just throwing in my 2 cents here that I always recommend that anyone do their best to become a Transactor and PIF ever month, thus making APR worries a thing of the past.  I honestly couldn't tell you the APR on any of my cards right now as I've never looked or even cared to know.

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I don't pay much in the form of interest or fees.  To me, getting APR reductions is just a way of reinforcing that my credit score has improved.  That is the only reason I am constantly seeking them.  I suppose a small part of me wants to have them as a just in case scenario.  I surely would not want to pull money out of something earning 7-10% return that might have a penalty when I could just put it on a credit or charge card.

Theres also something magical about having a single digit card, ideally fixed, even better if it earns rewards, and having extended warranty or other perks.  It is nice sometimes to be able to take a month or two extra to pay something off so that I get the maximum amount of dividends possible.

I just think about my capital one quicksilver card that is at 25.15 percent and think wow, really?  Or my commerce bank at 20.49...yet it earns 3% on insurance payments some quarters and a few other neat categories like charitable donations...regardless, not paying in full starts to negate the cash back.

I think there is no universal system for what is acceptable for everyone.  I try to be a mix of ramsey and orman.  Always looking for new ways to invest (lending robot) and also encouraging others to have 6 month emergency fund.  And most importantly once all debt is paid off and you are on the path to wealth, to be able to finally tithe or help others (which I certainly do enough of that!).

[Anonymous]

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@JamP wrote:

Some of us try for SP CLI's and APR reductions instead of applying for new cards 

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Not sure what SP CLIs and APR reductions have to do with the decision to apply for a new card or not?

[JamP]

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@Anonymous wrote:

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@JamP wrote:

Some of us try for SP CLI's and APR reductions instead of applying for new cards 

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Not sure what SP CLIs and APR reductions have to do with the decision to apply for a new card or not?

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Instead of scratching the itch to apply for new cards all the time, I try for SP CLI's and APR reductions instead, sorta like people trying for World/World Elite and Signature upgrades.

Its easier on the credit scores and still feels like an approval.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

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@ScoreOrBeScored wrote:

My perm APR is  6.74%. 

But due due to the recent increase it's now 6.99%

this is on my BCE 

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Whoa what? Can you tell us some of the steps you took to get it so low please ?

TYVM!?

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Lots of folks had luck with apr reductions earlier this year. I got my 17 or 19% delta down to 12 then 10 then 8.49 in 2 months around march or april!!!!  I would LOVE to have this apr on my SPG card and would move some credit to the card if that were the case!!!

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Did you use chat or call in ?

[noobody]

I chat with csr for apr reduction every several months on both my SPG and BCE also on my citi premier.
Have some success on 2015, no luck at all on 2016.