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So I have an offer for a lower APR on one of my amex cards for a year or something. I don't plan on using it but should I take this offer just for the heck of it? Is there any downside to accepting the offer?
Definately take the offer even if you don't plan on using the card. You never know when it might come handy for you to use.
@red259 wrote:So I have an offer for a lower APR on one of my amex cards for a year or something. I don't plan on using it but should I take this offer just for the heck of it? Is there any downside to accepting the offer?
Well that depends on a multitude of things. Your experian score is amazing (grats btw). I would like to think they offered you 0% for 6 months or maybe 6.99% or less for a year. What did they offer you and what is your credit limit?
The only downside I feel to these 12 month temporary reductions, are you are unable to do any permanent reductions. HOWEVER, it seems as though amex has brought those to a screeching halt. I say if you have a decent enough CL to stay under 30%, get something that is under 8 percent, and you can somehow benefit from it financially, then go for it. If not, then just wait and keep pushing for perm apr reductions.
I really don't understand the changes coming with amex. They can't seem to make up their mind on their charge cards (which truthfully doesn't bother me, but hey, if you are going to offer some folks 10k MRs for enrolling in pay over time and give them 0% for 6 months on >$100, then you should at least offer apr reductions on the POT interest rate).
I can tell you this, in this house, it certainly doesnt decrease the influx of promo offers with amex by accepting one every now and again. It would be super sweet if you googled around and found the link where you get a bonus for adding an AU after x amount of spend and could mix that with this promo! Then again it shows up as a brand new account for them and is quite difficult to remove.....
@red259 wrote:So I have an offer for a lower APR on one of my amex cards for a year or something. I don't plan on using it but should I take this offer just for the heck of it? Is there any downside to accepting the offer?
I just received a similar offer from AmEx. My current APR is very high at 23.49% but I don't carry a balance. Their offer is 6.99% APR for 12 billing cycles.
I am certainly considering taking up AmEx on their offer.
My currenlt CL is $30K, I recently requested a CLI to $90K and they asked me to submit a form so they can pull up my tax records. I'm still waiting on that decision but I will take the reduced APR just in case I need to make a major purchase.
@Anonymous wrote:Definately take the offer even if you don't plan on using the card. You never know when it might come handy for you to use.
I completely agree with that recommendation
I keep getting these offers (6.99%). Today my wife and I each got one, her OBC hasn't been used for over a year so usage certainly isn't a trigger. I am not bothering to accept.
@red259 wrote:So I have an offer for a lower APR on one of my amex cards for a year or something. I don't plan on using it but should I take this offer just for the heck of it? Is there any downside to accepting the offer?
I would take the offer if you don't already have a low interest card. Then I would shop around for a low interest card. I think that is a good tool to have in the tool box. If you already have one then no need to take this offer.
I see absolutely no downside to accepting the offer. You may or may not actually use it, but there's no reason not to accept it.