The American Express Blue Card does not have a balance transfer fee because it doesn’t allow balance transfers at all. That means you’ll need to look for another credit card to help reduce the cost of existing debt.
The American Express Blue Card credit limit is determined on a case-by-case basis and depends on the particularities of each applicant’s credit. Factors such as credit score, income, debt and payment history will be taken into consideration.
You will be assigned a credit limit upon approval for the American Express Blue Card. Unfortunately, there's no formula that can help you get a rough estimate before submitting an application.... read full answer
Best thing you can do is check your credit score and make sure you qualify for the card. American Express Blue Card generally requires excellent credit or better (a credit score of 750+) for approval.
If you are unsatisfied with your starting credit limit, you can request an increase after your account has been open for 60 days. But keep in mind that requesting a credit limit increase results in a hard inquiry on your credit report, which can temporarily decrease your credit score. When calling the number on the back of your card to request a credit limit increase you will be informed of the type of inquiry on your credit report.
If you’re looking for a high credit line and aren’t tied to Amex as an issuer, feel free to also check out some of the best high limit credit cards.
To do a balance transfer with the Amex Blue Cash Everyday card, new applicants can just complete the balance transfer portion of the Amex Blue Cash Everyday application. Amex Blue Cash Everyday balance transfers usually take up to six weeks to process. In the meantime, continue to make payments on your original debt to avoid any late fees and possible damage to your credit score.... read full answer
The objective of a balance transfer is to save money on interest, so you will want a card with a low introductory APR on balance transfers. Just be sure to pay off the transferred balance in full before the introductory rate expires. Otherwise, the remaining balance will accumulate interest daily at the card’s regular APR.
You can find out how much a balance transfer card with a low intro APR will save you in interest charges by using WalletHub’s balance transfer calculator. This tool will also recommend credit cards that may help you save money and get out of debt faster.
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