AMEX Pay Over Time Rate Reduction?

[elim]

[Anonymous]

Haha, no popcorn needed, it's a respectful discussion and disagreement.

[elim]

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@Anonymous wrote:

AMEX might as well just label the card as a revolver and put down an interest rate instead of saying, "no interest because you pay your balances in full every month."

The charge cards are classics and AMEX should keep it the way it's been in order to use them for marketing purposes. People who still want the feeling of old fashioned AMEX should be able to get a charge card and be able to use it as it was originally intended...  But these cards now appear as less prestigous and classic now that you're able to pay over time. Of course AMEX doesn't have to give a pay over time feature to any cardholder... They just make it look like a card for a person with a below average income by letting people pay over time rather than for those who have an income well above what the average American makes per year.  AMEX showing more flexibility than ever makes them look less prestigous, and it's both embarassing for them, and also disappointing for some of us.

I don't know, I guess I'm just caught up in the old fashioned thing, and you do make a good points about collecting interest from cardholders. I like to see a premium company in every category of item, and AMEX has slipped quite a bit since the old days.

Of course everyone is entitled to their own opinion, so let's not go down the road of who's right and wrong here.

(Reply was to takeshi74, sorry quote box is giving me a hard time tonight).

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   PRG is not a prestigous card for wealthy people.  It is a card for people who travel as much as some of us do.

[redpat]

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@elim wrote:

moral of the story is... "if you get Pay Over Time now, It is at a 3% lower rate than what it has been in the past"  I've had the card (and the feature) long enough, and ran enough $$ through it to be pretty good at using an AMEX charger. I have never added a charge to POT.  But I got my rate lowered.   :]

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Any charge over $100 gets put into the POT bucket you don't have a choice you must mean you always pay balance in full both charges and POT balance.

[elim]

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@redpat wrote:

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@elim wrote:

moral of the story is... "if you get Pay Over Time now, It is at a 3% lower rate than what it has been in the past"  I've had the card (and the feature) long enough, and ran enough $$ through it to be pretty good at using an AMEX charger. I have never added a charge to POT.  But I got my rate lowered.   :]

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Any charge over $100 gets put into the POT bucket you don't have a choice you must mean you always pay balance in full both charges and POT balance.

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   yes, I have never carried a balance.

[Anonymous]

Just looked at my offer, it was for 6.99%. never realized that the PRG could have a POT as it already was a relvover. Only downside charge has to be over 100

[Anonymous]

my prg has pay over time at 0% for 6 months. And my SO is 0% for 12 months. Quite strange!  Luckily one of us got the 10k bonus.  I wish I didnt enroll in POT then I would have got the 10k bonus!

Regardless still, seeing reductions is always pleasing.  And single digit APR that is just cool! and QUIRKY for a charge card!

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@Anonymous wrote:

Just looked at my offer, it was for 6.99%. never realized that the PRG could have a POT as it already was a relvover. Only downside charge has to be over 100

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 for how many months?

[UncleB]

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@Anonymous wrote:

my prg has pay over time at 0% for 6 months. And my SO is 0% for 12 months. Quite strange!  Luckily one of us got the 10k bonus.  I wish I didnt enroll in POT then I would have got the 10k bonus!

Regardless still, seeing reductions is always pleasing.  And single digit APR that is just cool! and QUIRKY for a charge card!

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@Anonymous wrote:

Just looked at my offer, it was for 6.99%. never realized that the PRG could have a POT as it already was a relvover. Only downside charge has to be over 100

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 for how many months?

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+1

When I had my card back in the '90s and my Green card last year I was never offered the POT option, so when I activated my PRG and was offered POT I jumped on it, thinking I was doing the right thing.

Later when I found out they have been offering folks a promo for adding it I got annoyed with myself.  Of course there's no way of knowing if I would have been offered the promotion, but at least there would have been the chance.

That's OK, though; live and learn...

[Anonymous]

When I got my Platinum, they wouldn't let me add it. When I got the PRG, they enrolled me in POT automatically. AMEX is certainly fickle, if nothing else...

[ryox03]

I received the email saying I was eligable with that same rate, but when I went to activate it, it told me none of my cards were eligable. Wierd.