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Amex APR reductions are alive again...

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Regular Contributor

Re: Amex APR reductions are alive again...

Just did a chat session. Super easy. 17.99% to 14.99%

Message 11 of 23
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Super Contributor

Re: Amex APR reductions are alive again...


@Overmedicated wrote:

amex.JPG

 

No go for me.......Smiley Frustrated


What's your current APR?  Maybe it's already at the lowest possible?

 

Does anyone know the lowest APR possible on an Amex revolver?

Message 12 of 23
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Super Contributor

Re: Amex APR reductions are alive again...

A few years ago when they did permanent APR reductions they were dropping a lot of APRs well below published rates. It could be now that they're brought this back (for some people), they're being more cautious and they're not going to lower it below the rate range for the product you have.

Message 13 of 23
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Senior Contributor

Re: Amex APR reductions are alive again...

I was able to get permanent reductions last month for my 3 revolvers. Glad to see others having the same success.

Message 14 of 23
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Valued Contributor

Re: Amex APR reductions are alive again...

Will it definitely not happen for a newly opened card (opened two weeks ago - no statement yet)? Is it worth trying? Thanks!


No derogs, but tons of inquiries and heavy credit-seeking behavior. In March of 2019, I had no open accounts, a charge-off, two collections, and scores in the low 500s. What I call the "thick build method" worked for me, but may not work for every situation.
Cards

Authorized user / Corporate / Auto loan / Personal loan

Card CLs total $89,900, not counting the AU card. The AU card brings the total to $114,900. In March 2019, card CLs totaled $0.

Closed but still on reports: ExxonMobil, $950, 10/08-02/11 (Equifax only) | American Express Delta Gold, $1,000, 09/19-10/20 | Citi secured, $200, 04/19-09/19 | Capital One secured, $300, 04/19-08/19 | My Jewelers Club, $5,000, 05/19-08/19 | Green Dot Primor, $300, 05/19-08/19 | Self Lender secured $500 loan, 04/19-01/20 | Unsecured personal loan from Coastal, $1,000, 06/19-08/19.
Message 15 of 23
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Moderator

Re: Amex APR reductions are alive again...


@KJinNC wrote:

Will it definitely not happen for a newly opened card (opened two weeks ago - no statement yet)? Is it worth trying? Thanks!


IMO it is a long shot, but can always try..  Usually it is based on relationship with them, obviously credit profile and putting money through their cards among other things.  I would give it 3 months, but I suppose a squeaky wheel can get grease as well?

Message 16 of 23
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Epic Contributor

Re: Amex APR reductions are alive again...

 

While on The phone with Amex for another small Issue, I got My Hilton Card APR reduced by 3%.

I never carry any balances, so it's kind of a self Grats thing.Smiley Happy

 

I did ask for a rate reduction on My Gold charge card (I do not use POT) ,   ...I Got a good laugh on that.Smiley LOL

 

Rep Thanked me for over 35 years with them. I thanked Him, for treating people as being Human.Smiley Happy

 

 

Message 17 of 23
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Senior Contributor

Re: Amex APR reductions are alive again...

Good to know, though I'll have to wait a couple cycles to let my score rebound from inq and new account. So i hope they're still being generous then.

 

I'm curious though, could this all be due to the fed lowering rates recently? 






Message 18 of 23
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Moderator

Re: Amex APR reductions are alive again...


@Janus wrote:

Good to know, though I'll have to wait a couple cycles to let my score rebound from inq and new account. So i hope they're still being generous then.

 

I'm curious though, could this all be due to the fed lowering rates recently? 


no as rate reduction was only a quarter point..  It will most likely be another .5 to 1 point in the next year, but time will tell, but no correlation persay

Message 19 of 23
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Community Leader
Mega Contributor

Re: Amex APR reductions are alive again...

Grats @CreditCuriosity on your reductions. Of all creditors, getting apr redux from Amex is least pressing as i want to pif with them so meh but who knows maybe ill try one day.
Message 20 of 23
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