The American Express credit card is one of the best cards out there for people who want to be able to take advantage of their rewards programs. It offers high points and low interest rates on many of the things that you can use it for, making it a great card for people to get. But does the American Express card offer any perks that will help you save money? Actually, there are quite a few things that you can do with the American Express credit card that will help you save money. Here is a look at what some of these things are.
One: Find a balance transfer deal. Like many credit cards out there, the American Express credit card has an interest rate that goes up when you pay off some of your balances. You can actually make a big difference in lowering your monthly payment by finding a low-interest rate balance transfer that lasts for a few months or a year. Just make sure that you pay off as much of your balance as possible during this period.
Two: Look for an introductory rate on the American Express credit card. If you find a special introductory rate on the card that lasts for a couple months, go ahead and take it. The reason American Express wants you to use their card is because they know that once you have used the card you will continue to use it. That means that over time you will be paying a lower interest rate because you will be using the card less.
Three: Call the customer service department and ask for a rate increase. Like mentioned above, American Express wants you to use their card, so they will often raise your interest rate in order to get you to sign up. You can do this by calling the customer service department and asking them if there is any chance of an interest rate increase. Be prepared to tell them that you found a low-rate card and want to transfer your balance to that card. They will usually agree since it will give them more money in their pocket and they will probably give you a good deal also.
Four: If you are having a hard time paying off your credit card bill each month, call up the customer service department and see if you can get a rate increase. Be prepared to tell them that your current card is almost maxed out and you cannot keep charging more money. They will not necessarily give you a low interest rate right away, but they might be willing to consider a rate increase. In fact, it has been my experience that American Express credit card companies do tend to give decent rate increases to their regular customers who just need a little boost to pay down their debt. Be careful not to burn yourself in the process, however; just make sure to keep calling American Express until you get a satisfactory answer.
These are only a few tips you can use to start paying off your debt with an American Express credit card. As I mentioned before, they do tend to have favorable rates for those who just need a little help paying down their balance and would like to try to re-establish good credit. It is also important to remember to pay your monthly bill on time, at least! This is the only way you will maintain a positive credit rating and American Express will still offer you a low interest rate when you become a good customer.
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