I was wondering if anyone has Blue and if it is possible to lower your interest rate? Called AmEx today asked for their 10.99% fixed interest rate (currently have 12.99%) and they told me that the interest rate was decided on when you applied for the card and could not be changed. That doesn't make sense to me, what happens if you have been a responsible card holder? Any suggestions I would appreciate it. Thanks. Dani
RE: AmEx - Lower interest rate I have the same rate when the 0.00% expired, I told them that they will NEVER get any interest at 12.99% from me...TOO HIGH. I stopped using the card all together. A few months later I got a 7.90% offer for balance transfers...I TOOK IT. I haven't had a credit line increase with AMEX BLUE. Always paid on time for over one year. No problems other than took 2 months to get the card after approval, and when the magnetic strip died it took two months to get another card, and they were supposed to extend the 0.00% for three months, but wouldn't after the first month... (MY FAULT I DIDN'T GET COMPLETE NAMES, DATES, AND EXTENTION NUMBERS).
RE: AmEx - Lower interest rate Yes, it may be possible to get a lower interest rate. But they cannot lower it while maintaining the same product. "Blue 12.99%" and "Blue 10.99%" are considered different products. Call Amex CS and say you want a product transfer. When they ask what product you'd like to transfer to, say the Blue 10.99%. The CS rep may or may not agree to process it. If s/he won't, try calling again to apeak w/ a different rep, or ask a supervisor. Amex Consumer Retention department is also authorized to grant it. 10.99% APR is the lowest you can get for the Blue. The Blue 9.99% is no longer offered. Saar
RE: AmEx - Lower interest rate Thanks Saar. Also I would like to add that 10.99 or 12.99 is still a dang good standard rate for a credit card these days. Even platinum cards average around 15-16%. Also, Blue offers some cool benefits as well that can save tons of money (i.e. best value guarantee)
RE: AmEx - Lower interest rate I agree, and in light of the expected reduction in prime rate (God & Greenspan willing), I anticipate Amex will reinstate the Blue 9.99% product soon enough Saar
RE: AmEx - Lower interest rate Thanks guys for your replies. I love my Blue card - the benefits are great and the interest rate is relatively low. I was just wondering if there was a way possible to switch to the lower rate. I'll wait to see if they will reinstate the 9.99% and then switch my account over. Thanks again. Dani
RE: AmEx - Lower interest rate 10.99% AND 12.99% is not good if every other card you have is at a lower interest rate...