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AMEX everyday offer question

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AMEX everyday offer question

Hello,

 

 I just received an offer when I signin to my AMEX, 9.99% for 12 months.

But, it says after that time it will revert to  "After the end of the promotional period the APR for these purchases will be a variable rate, based on Prime Rate plus 9.74%, currently 13.49%."

 Here I am confused, I thought my rate was fixed when I received the card, now it says it is variable, is that normal?

I was not watching it, but my rate went from 12.49 when I opned it to 13.49 now, but they have given me 10k more in credit in that time with out ever asking.

 

This well may be normal, just asking as I never paid it attention befofre this.

Thanks.

 

 

8600.0011500.00

8 FICO's (02-26-17) TU: 755 EX: 748 EQ: 758
Message 1 of 2
1 REPLY 1
Moderator

Re: AMEX everyday offer question


@BobbyLee2 wrote:

Hello,

 

 I just received an offer when I signin to my AMEX, 9.99% for 12 months.

But, it says after that time it will revert to  "After the end of the promotional period the APR for these purchases will be a variable rate, based on Prime Rate plus 9.74%, currently 13.49%."

 Here I am confused, I thought my rate was fixed when I received the card, now it says it is variable, is that normal?

I was not watching it, but my rate went from 12.49 when I opned it to 13.49 now, but they have given me 10k more in credit in that time with out ever asking.

 

This well may be normal, just asking as I never paid it attention befofre this.

Thanks.

 

 


Yes that is normal.  Most credit cards have variable rates and anytime the Federal Reserve raises the Prime rate, your interest rate will go up correspondingly.

Message 2 of 2
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