Amex Questions

wroenaldinho

Hi All

Just applied for an Amex Platinum Everyday card on Monday and the card has arrived today. This is my first amex card and first application for one. I currently use a barclaycard and nationwide card.

My question about amex is do they ever drop the Apr rate for their customers?

When I got my nationwide credit card it was accepted at 15.9% apr. Shortly after I rang barclaycard to cancel their card and they offered cash and a 3% interest reduction for the life of the account. I now have 2 cards at 15.9%.

I'm just wondering whether anyone has had any joy with amex doing this.

Also what sort of offers do Amex tend to give? Do they ever offer balance transfers etc?

Thanks in advance

Nick123321

Being a "premium" lender I doubt they would reduce the APR. They make up for it in other ways IMO.

From my experience, when I first phoned for a credit increase. They not only tripled my limit. They apologised for not automatically offering to increase it, and credited me with £30.

I find they run a lot of offers incentivising you to spend. If you use this correctly it's pretty worthwhile.

One I had recently was spend £20 at boots and get a £10 credit. So I just went and bought non perishable stuff. Deodorants etc.
Had a £25 credit for spending £100 at home base last year too.

These offers are always changing.

I started out with a £1400 credit limit 18 months ago, it's now £9400.
I pay it off each month so will never utilise that whole limit but it's good to have... I guess!?!?!

nidO

If you aren't paying off your balance in full, an Amex card probably isn't right for you. The benefit of the card you've gone for is the cashback, this is only worth anything at all if you're paying off the full balance. There are cards which offer much lower interest rates if you're holding a balance on the card.

If you're paying it off in full every month, the interest rate of the card doesn't matter one bit.

TopperHarris

do you mind me asking what sort of opening limit they have given you with the AMEX card? or is it one of those AMEX that doesn't have a limit and you just pay the entire amount each month?

wroenaldinho

I have set it to pay off in full every month just wondered what other offers they give.

They give me a limit of £3400.

Thanks