You will need at least good credit to qualify for an American Express credit card with a 0% interest rate. American Express will also review your payment history, employment, income, your level of debt, and other factors. If you’re applying for a business credit card, your personal credit history will play a significant role in the evaluation process.
You can find your Amex APR through your Amex account online or from a monthly billing statement. Amex APRs are listed on the “Interest Charged” page under “Interest Charge Calculation,” which is usually on page 4 or 5 of both the hardcopy statement and the electronic version. If you do not have an Amex card yet, you can see the APR range for a particular offer by going to the “Cards” section on the … read full answerAmex website and clicking “View Details.”
The “Interest Charge Calculation” section of your Amex statement will include your current annual interest rate for both new purchases and cash advances, the amount of your balance that is subject to each interest rate, and the number of days in the billing period. If you have an introductory 0% APR, it will also be listed here, along with the date the promotional rate will expire.
The best way to get American Express to lower the interest rate on your credit card is to call their customer service line at (800) 528-4800 and get on the phone with a representative. You can do this by saying “representative” to the automated customer service menu.
Simply asking can be more effective than you might think. For example, many credit card users who’ve threatened to cancel their cards if they didn’t get better terms have been successful with that strategy at least once, according to reports online. People are about twice as likely to get a fee waived than a lower APR, though, so keep that in mind as you go forward.… read full answer
Here’s more info about requesting a lower APR for your American Express card:
Before calling, make sure you know your current interest rate (APR is always listed on statements) and your account or card number.
You’ll also have better negotiating power if you’re aware of how long you’ve been an American Express cardholder and what your payment history is like.
You can also contact customer service online, or through the Amex mobile app (for Android and iOS) to talk to a representative.
If you don’t get a lower interest rate over the phone, it’s worth noting that your Amex card may offer Plan It. This feature helps you break up eligible purchases of $100 or more into installments over a set period of time, without your normal interest charges. Instead of charging interest on these purchases, Amex charges a monthly “plan fee”, which includes a percentage of the purchase amount and a percentage of the APR that would otherwise be charged.
The plan durations and fees will depend on your creditworthiness, but you can sign in to the American Express app to see if your purchases are eligible for Plan It.
To avoid paying interest on American Express cards, pay off the entire statement balance by the payment due date every month, or keep the account balance at $0 by not making any transactions on the card. American Express cannot charge interest on an account in either case.
If you have an American Express credit card with an introductory 0% APR on purchases, you can also avoid paying interest as long as you pay off the entire balance before the 0% rate expires. Several American Express cards, such as the Blue Cash Everyday® Card from American Express, offer promotional 0% rates on purchases for a specified timeframe.… read full answer
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