Elijah Nash, WalletHub Analyst
No, you cannot make an American Express Platinum card balance transfer as the card does not allow this type of transactions. The American Express Platinum card is a hybrid between a credit card and charge card that was not designed to pay down high-interest debt from other credit accounts. With a charge card, the cardholder is generally required to pay the entire balance in full each month.
What you should know about the American Express Platinum card:
- The American Express Platinum card does offer a Pay Over Time option where cardholders can carry a balance of select eligible charges from month to month, with interest, up to a limit. All charges not included in the Pay Over Time balance must be paid in full by the due date.
- Note that balance transfers are not allowed for the Pay Over Time feature. But you may transfer a balance from an American Express Platinum card to another credit card as long it’s not also an Amex card.
- American Express does not allow you to transfer balances from one Amex credit card to another.
Most American Express cards do not currently allow balance transfers. Balance transfers may also become available to select customers through targeted offers, but you’d be advised at the time of application of any such offers. Existing cardholders may check with American Express to see if their accounts have become eligible for balance transfers.
If you’re not set on American Express as an issuer, there are others who offer attractive introductory rates on some of the best balance transfer credit cards.
The Platinum Card® from American Express
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