Amex Blue Approval, but Question

[Anonymous]

I was approved for Amex Blue on Tuesday with a 3k CL.  I called today to see if the account number has been generated, but it has not.  The CSR said they sent me out a letter on Tuesday letting me know my APR (which I already know is 20.24%).  I guess they have to send me a letter notifiying me of the APR before the account is generated?  He said since it was online and approved by the system, the system automatically sends out the APR letter before the account is setup.  Anyone else udnerstand this?

[pizzadude]

Probably the APR is based on your AMEX cardmember risk score, and your FICO score, so I guess they can determine before they produce your card/account #.

I'd just give them a call in a another day or so and they'll probably have the account ready.

[Anonymous]

I think becasue I got the highest APR, they are required to send out a letter before the card is issued.  Amex says its part of Federal regulations?

[pizzadude]

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@Anonymous wrote:

I think becasue I got the highest APR, they are required to send out a letter before the card is issued.  Amex says its part of Federal regulations?

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Yeah, that sounds about right, they have to notify you when you don't receive the best terms, and they should provide a credit score ( FICO ) as well.      Not sure about the timing but AMEX is usually pretty quick about processing new cards.

[CK_Charles_Lover]

Actually that's not the highest APR for AMEX:

0% intro APR for 12 months. After that, your APR will be a variable rate, currently 17.24%, 20.24% or 22.24%

I just got the BCE and my interest rate was the 22.24 I don't care though because its 0% APR  for 12 months and they gave me 8,000 CL. I think its funny though that you get the highest APR for "credit worthiness" but they give me the my highest CL of all my cards. Still not complaining though, I'll take it!

[Anonymous]

Did you get a letter about the high APR and have to accept it?

[CK_Charles_Lover]

No. I did mine over the phone so I don't know if I will get the letter or not. She basically read stuff to me for honestly 10 minutes. Even after approval.