To do a balance transfer with Amex, you must wait to receive your Amex credit card in the mail. It is not possible to request a balance transfer before that point, according to American Express customer service. Once you have your card in hand, you can request a balance transfer by phone or online.
To request a balance transfer with Amex by phone, call 1 (800) 528-4800 and enter your card number to get connected with a customer service representative. To request an American Express balance transfer online, log in to americanexpress.com, navigate to “Account Services,” and select “Card Management,” then “Transfer Balances.” Whether you make your request by phone or online, you will need to provide the account number for the card the balance is being transferred from, the name and address associated with it, and the amount you want to transfer.
You can only transfer debt from credit cards not issued by American Express. Balances from other accounts such as car loans, personal loans and student loans will be not be accepted. Also keep in mind that you can only transfer an amount up to 75 percent of your credit limit, or $7,500, whichever is less. Amex will not approve balance transfers of less than $100, either.
Amex balance transfers take up to 12 business days to complete, so make sure to stay current on your payments to your other creditors until the transfer posts to your account. For an Amex balance transfer to be effective, you should pay off the entire balance transferred before the introductory APR expires. An unpaid balance remaining at the end of the introductory period will start accruing interest at the card’s regular APR. Amex’s regular APR can run as high as 26.24%.
American Express has several cards with introductory 0% APR offers on balance transfers. Most charge a transfer fee of $5 or 3% of the total amount transferred, whichever is greater. The Amex EveryDay card offers a 0% transfer fee if you transfer a balance in the first 60 days you have the card.