American Express: APR Reduction Success

[WLRK11]

I chatted (IM) with AMEX yesterday about an APR reduction on my SPG card, but they denied it. The rep claimed because it's already lower than the lowest advertised APR that the computer denied the request but he was going to check with his supervisor. Apparently, the supervisor was unable to lower my APR as well. I'm actually doubting at this point whether or not the rep actually engaged his supervisor. The rep suggested to try again in six months. 

Do you think the APR decrease denial is because the SPG card is on a three-tier APR setup thus isn't variable? 

[Imperfectfuture]

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@WLRK11 wrote:

I chatted (IM) with AMEX yesterday about an APR reduction on my SPG card, but they denied it. The rep claimed because it's already lower than the lowest advertised APR that the computer denied the request but he was going to check with his supervisor. Apparently, the supervisor was unable to lower my APR as well. I'm actually doubting at this point whether or not the rep actually engaged his supervisor. The rep suggested to try again in six months. 

Do you think the APR decrease denial is because the SPG card is on a three-tier APR setup thus isn't variable? 

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The SPG is not a fixed rate card.  My CU is fixed rate, they just started a cash advance fee (not enough folks giving them money ).  Big drops come when scores are 780 to 800, need 750+ to tickle Barclays.  At least, this Is what I have noticed,  APR reductions are always tied to scores.  The profiles need to have improved, such that the score is close (but not necessarily equal) to what would have qualified for that apr with cold app.

[iCoop]

Was able to get my Gold Delta Skymiles card reduced to 7.49% and my BCE card reduced to 9.74% via chat yesterday. Rates are extremely low especially when compared to advertised rates for new cardholders.

[trant3]

Was able to lower my Hilton card down to 8.24 from 10.24. I last had it reduced 2 months ago

[ILBrian]

Never carry a balance on my BCE but this inspiried me to get a reduction... reduced from 22.24% to 19.24% not really impressed with said reduction.... its my highest APR card still out of over 20 cards.... I feel like they can only do incremental told me to check back in a month

[PrimeRate]

Love hearing all the success stories! If you hit a wall on your first try, give it a shot a few hours/days later - YMMV - especially with AMEX reps! 

[PrimeRate]

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@ILBrian wrote:

Never carry a balance on my BCE but this inspiried me to get a reduction... reduced from 22.24% to 19.24% not really impressed with said reduction.... its my highest APR card still out of over 20 cards.... I feel like they can only do incremental told me to check back in a month

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Same here in regards to a balance, but the ability to count on such a great rate in the case of an emergency is clutch!

I'd recommend chatting once a week until you get to a comfortable APR. It seems like 3-4% reductions are the max they can apply during one session. 

[Anonymous]

I was able to get my APR for my Delta Gold reduced today!  Thanks for the info OP.  Went from 19.24% to 16.24%.  As another poster stated, the decreasesd APR is available to me through Aug. 2016.  Hopefully by then, my credit profile will be strong enough to warrant a permanent reduction.

[Anonymous]

Awesome!

[NRB525]

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@iCoop wrote:

Was able to get my Gold Delta Skymiles card reduced to 7.49% and my BCE card reduced to 9.74% via chat yesterday. Rates are extremely low especially when compared to advertised rates for new cardholders.

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This is now my target for my Delta card

Have to wait for the temporary APR to expire in November, and my scores to increase still more, toward 800, but over the next year, I'll be on a mission.