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When to ask for a lower APR

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B335is
Moderator Emeritus

Re: When to ask for a lower APR

Kind of makes you wonder what excessive APR reduction requests does to your internal Amex score Smiley Surprised
Message 21 of 25
Anonymous
Not applicable

Re: When to ask for a lower APR

I've never wondered that Smiley Wink
Message 22 of 25
Themanwhocan
Senior Contributor

Re: When to ask for a lower APR


@Anonymous wrote:
How long was your BCE open for when you got your first apr decrease

Well, I didnt ask until the account was 18 months old.

 

I applied for the card using a special deal that automatically gave the lowest APR if you were accepted for the card, plus $200 sign up bonus if I recall. SO, I didn't think the card could go any lower. When I heard that others were getting APR's reduced below the advertized minimum rate, thats when I started asking for my APR to be lowered.

 

Thus, I have no idea how soon you can request a reduction, but I know you can get reductions less than 4 months apart, since that happened for me. I just checked and my APR for purchases was 10.99% in March. Maybe I should ask for it to be lowered. Then again, maybe I should use my BCE before asking for it to be lowered...





TU-8: 804 EX-8: 805 EQ-8: 788 EX-98: 767 EQ-04: 752    
TU-9 Bankcard: 837 EQ-9: 823 EX-9 Bankcard: 837
Total $443,800
Message 23 of 25
Themanwhocan
Senior Contributor

Re: When to ask for a lower APR


@B335is wrote:
Kind of makes you wonder what excessive APR reduction requests does to your internal Amex score Smiley Surprised

Well, I don't use my BCE much at all. At All.

 

My APR is 10.99 . My Limit is at $30,000 (started at $2000) and I haven't asked for more.

 

2 months ago I picked up a PRG charge card for the 50K points, it just started reporting to the credit bureaus today. My lower APR doesn't seem to have negatively affected my internal Amex score, at least not so far.





TU-8: 804 EX-8: 805 EQ-8: 788 EX-98: 767 EQ-04: 752    
TU-9 Bankcard: 837 EQ-9: 823 EX-9 Bankcard: 837
Total $443,800
Message 24 of 25
Anonymous
Not applicable

Re: When to ask for a lower APR

besides the timeframes mentioned here, make sure that your overall credit profile is at optimal - no high uti, low to none inquiries and new accounts. or else, AA might happen. =p

Message 25 of 25
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