American Express - Clear card...Anyone?

[saphirimalmei]

I am wondering if anyone has info re: the following...

As I was closing my AMEX Gold Card account (hardly ever used it) the rep on the phone said they could offer me an American Express Clear Card with a 2.9% APR on balance transfers.  He informed me that I would be able to use it to pay off a car loan and pay it off thru AMEX.

He told me that the 2

Comments

[tigerest]

Well I haven't hear of this one exactly, but I have done similar things with balance transfers. But they are VERY strict....if you pay even 1 day late the rate gets hiked up!!

[saphirimalmei]

Yup, I discussed this with the Rep. They will let you create an auto payment feature, though, so this shoudnt be a problem. I hope this comes thru because, if accepted, I would be able to pay off the Saturn in 2 years instead of 3 and the payment would be the same!

We're currently paying 19% interest on the car as when we bought it Phil still had a bankruptcy on his record. The 19% HURTS! Ouch!