@Absolution16 wrote:
@Anonymous wrote:
Chat and phone CCPs use the exact same system and process. Reductions are pre-determined every 6 months by credit operations and the CCP is merely activating the offer that is loaded in. I can say I have seen more "promotional APRs" lately than permanent reductions, but we still do them.
I have 2 AMEX cards currently:
1. Blue Cash Everyday (BCE)
Opened: February 22 of this year
Limit: $1,000.00
Promotional APR: 0% for purchases and balance transfers until March 17, 2017
Permanent APR: 22.24%
2. Everyday Preferred (EDP)
Opened: March 31 of this year
Limit: $18,000 (Credit Limit was increased from $6,000 after 3 months)
Promotional APR: NOT offered. I had a personalized offer for a 50,000 MR points in lieu of the promotional APR
Permanent APR: 15.24%
Over a long term, I'd much like to keep the BCE over EDP. I've been thinking of combining the balances on those two cards into ONE card: BCE, and close out the EDP. However, I'd very much like to keep the lower APR on the EDP, if it can be done. Otherwise, I'd have to ask for an APR reduction on the BCE.
Since I am still under the promotional offer period, would it be wise to say that I should wait until the offer expires and try for a reduction at that time? Or is it possible, like stated above, that my lower APR on the EDP can be carried into the BCE if combining the account is possible?
I have only seen once or twice where someone was able to get an APR reduction (permanent) while still in their initial promo period, but it was a business account.
You can't combine balances to my knowledge but you can reallocate limits as long as the donor card is 13 statements old and the newer one 30-60 days (don't quote me on the newer one). Some have been able to move limits immediately on new cards, like when they are initially opened. I believe lhcole77 has mentioned this.
No clue about carrying over the APR from one to the other. I believe the APR would be stuck on that card, its a little different than capital one.
Congrats on the 50k mr offer on the EDP that one I have NEVER seen, highest I've seen is 30k. That is amazing either way.
If it were me, I would def avoid any promo reductions unless they are significant, afaik if you are in a promo period even post intro, you cannot pursue any further reductions, such as permanent apr reductions. Speaking from my experience when requesting APR reduction on my ED, was only offered 0.25%, naturally I did not accept it.
I would say it would be wise to keep the EDP, evaluate your yearly spend, and you could consider downgrading the card to the no AF version when you're closer to your anniversary. I would definitely NOT downgrade the product before then since you would lose out on potential extra MR points.
The question I would ask would be if a card is closed, how long does amex allow a person to reopen it? If you closed it with $500 left on it, akin to chase, would you have say, 6 months to reopen it?
You would really want to evaluate whether cash back or MR ponits are more valuable to you. But if your level of spend is high enough you could jusify keeping both open. I don't think you would have a problem in getting a reduction on the BCE post promo (fingers crossed) as long as your scores and profile supported it. I was not aware that apr reduction offers were set for a 6 month period. That was news to me though.
Also think about potential amex offers you might miss out on having only one card. But you at least have the option of changing things up next spring.
