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AMEX for APR Reduction (Offer Declined)

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Regular Contributor

AMEX for APR Reduction (Offer Declined)

Just to show you guy my recent attend to reduce my APR with American Express

 

Annotation 2019-06-19 120545_AMEX.jpg

 

They also told me that because I been a customer for over 3 years, they added a notation in my account for a lower APR when available 



Starting Score:EX: 713 EQ: 698
Message 1 of 11
10 REPLIES 10
Valued Contributor

Re: AMEX for APR Reduction (Offer Declined)

Yeah, they've been a bit stingy with the reductions for awhile now.  Just keep bugging them and something better eventually pops up.

500K+ TCL / 800+ FCOs
Message 2 of 11
Super Contributor

Re: AMEX for APR Reduction (Offer Declined)

It’s so lame that they consider that a promo... it’s like when Cap used to give me 4% reductions for 7 months... like that was going to make a big difference on a 24+% card.



01/2019:
12/2019:

Hover over my cards to see my limits!
Goal cards: Cash+, Freedom.
Message 3 of 11
Super Contributor

Re: AMEX for APR Reduction (Offer Declined)

Unfortunately they aren’t generous with reductions anymore. It is what it is. Disappointing but it’s the norm with them now. No permanent reductions and often limited promos.
Message 4 of 11
Super Contributor

Re: AMEX for APR Reduction (Offer Declined)

Now, as a comparison, if you have a charge over $100, what is the effective Plan It rate, for that charge on the same card? My experience is the Plan It effective APR is better than these “promo” rates.

I do have a 8% APR offer I accepted for my Delta Reserve, the 12-month term runs out in August I think, but I never used it for carrying any balances because so little gets charged to that card.
High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
Message 5 of 11
Mega Contributor

Re: AMEX for APR Reduction (Offer Declined)

They just offered me 1.99% for nine months on a card I haven't used for a while....

Message 6 of 11
Valued Contributor

Re: AMEX for APR Reduction (Offer Declined)

Makes me curious if you'll get better success at lower APRs if ypou PIF, or barely use the card? 

If you already carry a balance then there is no incentive for them to permantly lower it, or give good promo rate. 

I believe if you wait for them to come to you, the rate has a chance of being more in your favor. 

 

Chase for example has never offered me a BT, until just recently they mailed check to cash @ 0% through 8/2020.

 

Citi and Discover are always mailing checks, with varying offers from 0%, .99 % and 4.99% for 12 months. 

 

Amex is the only one that doesn't, unless it was on a new App.






Message 7 of 11
Regular Contributor

Re: AMEX for APR Reduction (Offer Declined)


@Janus wrote:

Makes me curious if you'll get better success at lower APRs if ypou PIF, or barely use the card? 

If you already carry a balance then there is no incentive for them to permantly lower it, or give good promo rate. 

I believe if you wait for them to come to you, the rate has a chance of being more in your favor. 

 

Chase for example has never offered me a BT, until just recently they mailed check to cash @ 0% through 8/2020.

 

Citi and Discover are always mailing checks, with varying offers from 0%, .99 % and 4.99% for 12 months. 

 

Amex is the only one that doesn't, unless it was on a new App.


They sometimes offer me a lower APR when I don't pay my balance in full 



Starting Score:EX: 713 EQ: 698
Message 8 of 11
Valued Contributor

Re: AMEX for APR Reduction (Offer Declined)


@Janus wrote:

Makes me curious if you'll get better success at lower APRs if ypou PIF, or barely use the card? 

 


Nope... I PIF every month and it's still a couple of points for 12 months offers coming through. 

500K+ TCL / 800+ FCOs
Message 9 of 11
Regular Contributor

Re: AMEX for APR Reduction (Offer Declined)


@Janus wrote:

Makes me curious if you'll get better success at lower APRs if ypou PIF, or barely use the card? 

If you already carry a balance then there is no incentive for them to permantly lower it, or give good promo rate. 

I believe if you wait for them to come to you, the rate has a chance of being more in your favor. 

 

Chase for example has never offered me a BT, until just recently they mailed check to cash @ 0% through 8/2020.

 

Citi and Discover are always mailing checks, with varying offers from 0%, .99 % and 4.99% for 12 months. 

 

Amex is the only one that doesn't, unless it was on a new App.


I got the same offer from Chase.  I guess they are pushing it.  


Message 10 of 11
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