Amex targeted offer..3.9% on purchases for 6 months

[Newk]

Terms & Conditions
1. Subject to these Terms and Conditions and the American Express Credit Card Conditions, you are eligible for a
promotional low interest rate of 3.99% p.a. for all new purchases charged to your account from 3
rd
December 2012
to 2
nd
June 2013 provided you choose to carry a balance.
2. Any remaining purchases balance on your account after the offer end date will attract the prevailing interest
rate for purchases at that time. Your updated balance will be reflected in your first statement after the offer end
date.
3. To be eligible for this offer you must:
 have received a personally addressed invitation to register a specific Card in the promotion. Only the Card
that is nominated in the invitation to participate can be registered.
 register for the offer by the offer end date of 21
st
November 2012.
4. Cash advances, balance transfers, charges for travelers cheques, fees and commissions are not purchases and do
not qualify for the promotional low interest rate for purchases.
5. The promotional low interest rate only applies to the account indicated in the invitation.
American Express Australia Limited (ABN 92 108 952 085). Australian Credit License No. 2xx_


now I need to read the t and c to see how it affects the nice balance transfer rate I currently hold

 

[delfredo]

Says that cash advances and credit card fees are excluded from the promotional rate. So in what order are monthly repayments allocated to outstanding amounts? Purchases first or these exclusions?

 

[burmans]

Says that cash advances and credit card fees are excluded from the promotional rate. So in what order are monthly repayments allocated to outstanding amounts? Purchases first or these exclusions?

Depends on when you took credit out. For those with older accounts this gets applied against the balance transfer first, not a good thing as it means the highest interest rate portion comes last.

 

[DC3]

I received something similar earlier this year, but was 2.99% for new purchases for six months commencing on 12th March, expiring in September. Came by snail mail. Of course it's only of any use if you carry-over outstanding balances from month to month.

 

[JohnK]

I have been getting these offers regularly on both cards. I received a 2.99% on purchases offer last month and the 6 months started from 15 October.