American Express Balance Transfer Credit Cards

American Express does not offer balance transfers from other issuers’ accounts to any of its credit cards. In general, balance transfers allow you to shift high-interest debt from your current account to another issuer’s credit card and pay off the balance, presumably at a reduced interest rate.

For a look at some of the top balance transfer cards on the market, check out WalletHub’s Best Balance Transfer Credit Cards page.

How to Choose a Balance Transfer Card

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.

The Amex EveryDay does not have a balance transfer fee. That is because the Amex EveryDay does not allow balance transfers at all, so you will have to look for a different credit card to help reduce the cost of existing high-interest debt.

While the Amex EveryDay does not allow balance transfers, it still makes for a decent financing option as it features an introductory purchase APR of 0% for 15 months (12.99% - 23.99% (V), based on creditworthiness, thereafter). And it has a $0 annual fee.

If you are looking to transfer a balance, some credit cards have no balance transfer fees. But sometimes, the best balance transfer credit cards will come with a longer 0% introductory APR period that warrants a balance transfer fee. A balance transfer calculator can also help you figure out how much you can save with a balance transfer.

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.

If you want to make a payment on an American Express balance transfer credit card, one option is to mail a check or money order payable to American Express to:

American Express
Bill Payment
P.O. Box 650448
Dallas, TX 75265-0448

To transfer a balance to a new Amex card, select the balance transfer option on the online application. Then, enter your existing card’s account number and the amount you’d like to transfer. You can only transfer a balance up to 75% of your credit limit. You won’t know your credit limit until you’re approved for the card though.

You can also request a balance transfer by phone. Call 1 (800) 528-4800 within 60 days of account opening to qualify. American Express does not approve balance transfer requests after 60 days.

American Express balance transfer cards come with an introductory APR of 0% for 12 to 15 months. In most cases, there’s a transfer fee of $10 or 3% of the balance transferred, whichever is greater. American Express only allows balance transfers from non-Amex credit cards.

The Amex EveryDay card does not offer balance transfer checks, but you can initiate a balance transfer from your online account or by calling the number on the back of your card.

It can take up to 10 days for balance transfers to be processed, but there's no guarantee yours will be handled in that timeframe. If the creditor you're transferring debt from needs to be paid by check rather than electronically, your request could take longer to process.

You can’t just pay your monthly American Express credit card bill with another credit card and continue using it. No credit card company allows that. Most only accept payment by bank transfer, debit card, check or money order.

But you can pay your Amex with a credit card if you do a balance transfer. Transferring a balance is basically the same thing as using one credit card to pay another. However, you need to open a new credit card account to get a good deal, so it’s not something you can do every month.

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.

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.

American Express balance transfer fees are $5 or 3% of the transferred amount, whichever is greater. Nearly all American Express cards that offer balance transfers charge that same 3% transfer fee, including Cash Magnet, Blue Cash Everyday, Blue Cash Preferred and Blue Business Plus. The exception is the Amex EveryDay card, which has a $0 balance transfer fee for the first 60 days. After that, Amex’s standard $5 or 3% or transfer fee would apply.

Transfer fees are a key component of a balance transfer. You can only transfer balances, including transfer fees, up to your available credit limit. Transfer fees apply to each balance that you transfer to an American Express card.

American Express balance transfer cards are at the low end of the 3%-5% transfer fee range that most issuers typically use. Discover charges a 3% fee with no set minimum. Capital One cards with 0% balance transfer APRs also have 3% transfer fees. Chase cards are at the high end of the scale with a 5% balance transfer fee, except for one notable exception. Chase Slate offers a $0 transfer fee if you request a transfer in the first 60 days after opening an account. After that, it jumps to 5% along with the other Chase balance transfer cards.

The American Express® Gold Card does not allow balance transfers. In general, balance transfers allow you to shift high-interest debt from your current account to another issuer’s credit card and pay off the balance, presumably at a reduced interest rate.

For a look at some of the top balance transfer cards on the market, check out WalletHub’s Best Balance Transfer Credit Cards page.

How to Choose a Balance Transfer Card

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.

You can transfer a balance to your Optima credit card. The exact terms of the balance transfer should be available in your terms. If you don't have them anymore, call the number on the back of your card and ask.