What Caused My American Express Credit Rate Increase
Author: CarefulSpender
Posted: Sun Feb 12, 2006 12:54 am
Post subject: AMEX Blue
As I was saying before in another thread, I was approved instantly for this card thankfully. My question is, why is this card so popular if the transfer balance is 3.5%, 0% for purchases for 15 months but after all that is said and done, the apr jumps to like 12%? I'm thinking the 12% is kinda high and with my credit score being excellent, it kinda turns me off.
I'm not well versed though, in the methods of getting a lower apr or CLI, so maybe that's what I'm not seeing. Perhaps the idea behind the success and popularity of this card is because you CAN call for a CLI and get a nice one and also get a reduction in apr%.
I'm still learning and hopefully I can learn enough here so that when the 15 months is up, I can take charge of this popular card.
What do you all think?
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: maddybeagle
Posted: Sun Feb 12, 2006 9:07 am
Post subject:
Quote:
after all that is said and done, the apr jumps to like 12%? I'm thinking the 12% is kinda high and with my credit score being excellent, it kinda turns me off.
PIF (pay in full) every month (after the 15 months) and you wont have to worry about the rate or be "turned off"
Author: guessindigo
Posted: Mon Feb 13, 2006 12:43 pm
Post subject: hmmm
Can't you read between the lines?
Hmmmmm, let me think...............
0% on purchases, then an outrageously high apr. No 0% on BT's/
Gee, if I had to guess, I'd say AMEX is discouraging its customers from revolving balances and ENcouraging them to make alot of purchases and after the intro, go into PIF mode.
Bottom line: AMEX wants its customers to treat their credit products like charge products and thus the high apr. Blue just gives you the flexibility to revolve if you have to, interest free for 20 days.
Author: rapjunkie
Posted: Mon Feb 13, 2006 1:27 pm
Post subject:
good points, guessindigo... that's the way I see it too... the AMEX 'credit' cards are really a lot like charge cards with a buffer.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: mouse
Posted: Mon Feb 13, 2006 2:39 pm
Post subject:
Take advantage of the lowest APR for BT's you can get
I have 0.00% BT for IN:LA
DON'T MAKE ANY PURCHASES ON A BT CARD!!!
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Posted: Sun Feb 12, 2006 12:54 am
Post subject: AMEX Blue
As I was saying before in another thread, I was approved instantly for this card thankfully. My question is, why is this card so popular if the transfer balance is 3.5%, 0% for purchases for 15 months but after all that is said and done, the apr jumps to like 12%? I'm thinking the 12% is kinda high and with my credit score being excellent, it kinda turns me off.
I'm not well versed though, in the methods of getting a lower apr or CLI, so maybe that's what I'm not seeing. Perhaps the idea behind the success and popularity of this card is because you CAN call for a CLI and get a nice one and also get a reduction in apr%.
I'm still learning and hopefully I can learn enough here so that when the 15 months is up, I can take charge of this popular card.
What do you all think?
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: maddybeagle
Posted: Sun Feb 12, 2006 9:07 am
Post subject:
Quote:
after all that is said and done, the apr jumps to like 12%? I'm thinking the 12% is kinda high and with my credit score being excellent, it kinda turns me off.
PIF (pay in full) every month (after the 15 months) and you wont have to worry about the rate or be "turned off"
Author: guessindigo
Posted: Mon Feb 13, 2006 12:43 pm
Post subject: hmmm
Can't you read between the lines?
Hmmmmm, let me think...............
0% on purchases, then an outrageously high apr. No 0% on BT's/
Gee, if I had to guess, I'd say AMEX is discouraging its customers from revolving balances and ENcouraging them to make alot of purchases and after the intro, go into PIF mode.
Bottom line: AMEX wants its customers to treat their credit products like charge products and thus the high apr. Blue just gives you the flexibility to revolve if you have to, interest free for 20 days.
Author: rapjunkie
Posted: Mon Feb 13, 2006 1:27 pm
Post subject:
good points, guessindigo... that's the way I see it too... the AMEX 'credit' cards are really a lot like charge cards with a buffer.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: mouse
Posted: Mon Feb 13, 2006 2:39 pm
Post subject:
Take advantage of the lowest APR for BT's you can get
I have 0.00% BT for IN:LA
DON'T MAKE ANY PURCHASES ON A BT CARD!!!
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
posted by CardRatings.com at 7:11 PM
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