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AmEx Offer 9.99% Pa for 6 Months Promotional Low Rate

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AmEx Offer 9.99% Pa for 6 Months Promotional Low Rate
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LExplor9r on 25/10/2017 - 16:08 amex.com.au (469 clicks)
Last edited 25/10/2017 - 23:00

Logged in the AmEx app and checked Offers for my Explorer card, AmEx describes it as taking advantage of this great rate for your new purchases for the 'holiday season', larger purchases you've been thinking of or simply your everyday essentials.

Whether it makes sense to pay any interest at all ever (it probably doesn't), is up to you to decide.

Edited to note that waiting further may produce a new offer with a lower interest rate - there are certainly very rare cases when it might make sense, and for those cases, having knowledge of the offer may work out better than not knowing of it - hence my sharing it.

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  • hawkers8905 on 25/10/2017 - 16:10
    +2

    Got this about 3 months ago on my Velocity Escape card. 3.99% for 6 months.

    • jv on 25/10/2017 - 16:11

      i got it via a snail mail letter from Amex, not through Velocity…

  • jv on 25/10/2017 - 16:10

    AmEx Offer 9.99% Pa for 6 Months Promotional Low Rate

    I got just over 3% from them a few months back… You are getting ripped off

  • SonGHosT on 25/10/2017 - 16:17
    +2

    9.99%!!!!

    • hys on 25/10/2017 - 16:46
      +2

      exactly my thought, so tempted to down vote .. and say this is not how ozbargain operates!

  • lgacb08 on 25/10/2017 - 16:20
    +2

    don't sign up, leave it for another 6 months and they'll offer 3.99%

    • frugalbat on 25/10/2017 - 19:34

      Yeah just saw that on my card

  • qtmai on 25/10/2017 - 16:57
    +11

    Never pay interest unless it’s your mortgage

    • MathNerd on 25/10/2017 - 17:36

      I've stuck by this motto all my 25 years of life, and hope that it's still true in the many years to come!

  • emoticon on 25/10/2017 - 17:21

    Also have an Explorer card, no offer is showing up in the Amex app - could be a targeted promotion?

    • starburstyellow on 25/10/2017 - 17:47

      I signed up to this 2 months ago. I called for something else, and got offered the deal over the phone.

  • skinny on 25/10/2017 - 17:23
    +2

    There is a even better bargain. Spend what you can and pay it on time -ZERO interest!

    This "BARGAIN" will help push people into debt!

    • Danstar on 25/10/2017 - 19:04

      I concur

    • Greg123 on 27/10/2017 - 09:34

      Nah, spend what you normally would, use a 0% balance transfer or 0% purchases offer and invest the payment in a high interest/mortgage offset account until the offer ends.

      9.99% personal debt is bad but interest free debt is free money.

      • Danstar on 29/10/2017 - 11:02

        Debt isn’t free money. It’s money you still owe with the potential of owing a lot more if you can’t pay it back by a due date

  • Coops1 on 25/10/2017 - 18:06
    +1

    As per comments above, never ever pay interest on a credit card. If you can’t pay it off on the next statement, don’t put it on credit.

  • Danstar on 25/10/2017 - 19:04

    Paying interest in not a bargain

  • points4life on 25/10/2017 - 19:33

    I'm sorry for the neg but paying interest is never a bargain.

  • Tiggrrrrr on 25/10/2017 - 19:39

    If you want interest free purchases for 3 months (and no sign-up fee, and 0% balance transfer for 12 months) try https://www.finder.com.au/anz-platinum-credit-card

  • ronnknee on 25/10/2017 - 19:53
    +3

    Paying interest on credit cards is not a bargain.

    • Explor9r on 25/10/2017 - 23:02

      For the rare case where you may obtain benefit by utilizing that feature, knowing of the offer available is presumably better than not - hence my sharing it.

      • ronnknee on 26/10/2017 - 00:08

        knowing of the offer available is presumably better than not

        You can possibly justify spam the same way.

  • [Deactivated] on 25/10/2017 - 20:11

    I got a 1.99% offer on 15k from BankSA, which I accepted and put towards a house deposit.

  • joeiwu on 25/10/2017 - 20:34

    IMO anything over the home-loan floating rate (between 3.5%-4% at the moment approx) would not be a bargain unfortunately. Obviously the rate is a lot better than the "default" interest rate, but this is Ozbargain after all!

  • [Deactivated] on 26/10/2017 - 03:26

    Paying interest on a credit card is not a bargain.

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