I saw a classified ad offering to help negotiate a lower interest rate for credit cards. Now, im aware that you ask for and try to negotiate a better APR, although some banks may require you to close the account.
However, what interest me about the ad was that the ad claimed to also be able to get back some of the interest paid. I jave never heard of that, so I called them trying to get more information. Based on my conversation, I speculate that once they've successfully negotiated a better APR they simply ask to have that new rate applied retroactively to the previous say 2-3 billing cycles.
Additionally, they claimed to be able to lower AMEX to an 8% rate.
Has anyone gotten a negotiated rate with Amex that low? Does anyone know more about the getting the interest partially refunded?