Ashley Wade, WalletHub Analyst
@shlee
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 talk 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.
What to Know About Requesting a Lower APR for Your Amex 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 the “Plan It®” program. This feature helps you break up eligible purchases of $100 or more into monthly payments 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. There is no enrollment required, as this feature is automatically embedded into your card.
The plan durations and fees will depend on your credit standing, but you can check if your purchases are eligible for the “Plan It” program through the issuer’s app.
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khudson444, Member
@khudson444
call AMEX and ask them to lower your rate
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Can I negotiate a debt settlement with American Express?
American Express rarely negotiates debt settlements directly. Unlike other large banks, American Express does not have an internal debt settlement division. Amex accounts can be sent to collections agencies (such as Zwicker and Associates) after a few missed payments, as a result. You can find out who to contact regarding your debt by referring to the latest notice you’ve received, and then attempt to reach an amended payment agreement.
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read full answer by Mary Grace McCormick, Credit WriterWhat is the American Express credit card interest rate?
American Express credit card interest rates can be as low as 0% introductory APR on purchases for as long as 15 months . Regular, ongoing American Express credit card interest rates can be as low as 19.99% (V) or as high as 28.99% (V), depending on the card and the applicant’s credit standing.
American Express Credit Card Interest Rates by Card
- Blue Cash Preferred® Card from American Express: 19.99% to 28.99% (V)
- Blue Cash Everyday® Card from American Express: 19.99% to 28.99% (V)
- Delta SkyMiles® Gold American Express Card: 19.99% to 28.99% (V)
- Marriott Bonvoy Brilliant® American Express® Card: 19.99% to 28.99% (V)
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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.
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read full answer by James Bronzz, WalletHub AnalystDid we answer your question?
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