American Express does not offer new balance transfer deals to existing customers, at least not on the same card. Once your Amex card’s balance transfer offer runs out, there’s no way to get another promotional APR on that card. You can still transfer a balance to the card at any time.
You can check if your card is eligible for balance transfers through your online account. From the Account Services menu, find the “Card Management” tab and click “Transfer Balances.” If there’s a balance transfer offer available, click the corresponding link. Enter the account number(s) for your other creditor(s) and the amount you want to transfer, along with the name and address associated with the account(s). Then, just confirm and submit the request. You can only transfer amounts up to 75 percent of the card’s credit limit or $7,500, whichever is less.
Just keep in mind that you can’t transfer a balance from one Amex card to another Amex card. And you can only transfer balances from credit cards, not from loans.
Transferring a balance to an American Express credit card should take 2-3 days, after Amex approves your transfer request. Current Amex cardholders can expect a decision within 48 hours, while it can take up to 10 days if you’re applying for a new account.
So the full process, from the time you request a balance transfer to when Amex pays your other card’s issuer and the balance shows up on your American Express card account, can take anywhere from 4 to 12 days.… read full answer
It’s different if you’re transferring a balance from an American Express credit card to a card from another issuer. The timeframes vary by credit card company. But you can check out the major issuers’ policies in WalletHub’s Balance Transfer Report.
A balance transfer is a good idea if you need months to pay off high-interest debt and you are able to qualify for a 0% balance transfer credit card deal. Most balance transfer cards require a 700+ credit score, and most also have high regular APRs, making it important to repay what you owe before the 0% period ends. You generally need good credit or better to get a 0% balance transfer credit card. Most balance transfer cards have very high regular APRs, making it important to repay what you owe before the 0% period ends.… read full answer
You’ll also want to make sure the new card’s balance transfer fee is as low as possible. The average fee is just under 3%. But, from time to time, there are credit cards that have both 0% APR on balance transfers and no balance transfer fee.
WalletHub Answers is a free service that helps consumers access financial information. Information on WalletHub Answers is provided “as is” and should not be considered financial, legal or investment advice. WalletHub is not a financial advisor, law firm, “lawyer referral service,” or a substitute for a financial advisor, attorney, or law firm. You may want to hire a professional before making any decision. WalletHub does not endorse any particular contributors and cannot guarantee the quality or reliability of any information posted. The helpfulness of a financial advisor's answer is not indicative of future advisor performance.
WalletHub members have a wealth of knowledge to share, and we encourage everyone to do so while respecting our content guidelines. This question was posted by WalletHub.
Please keep in mind that editorial and user-generated content on this page is not reviewed or otherwise endorsed by any financial institution. In addition, it is not a financial institution’s responsibility to ensure all posts and questions are answered.
Ad Disclosure: Certain offers that appear on this site originate from paying advertisers, and this will be noted on an offer’s details page using the designation "Sponsored", where applicable. Advertising may impact how and where products appear on this site (including, for example, the order in which they appear). At WalletHub we try to present a wide array of offers, but our offers do not represent all financial services companies or products.