What American Express balance transfer cards do

American Express offers several credit cards that let you move debt from another card to your Amex card, usually at a lower interest rate for a set period. The most common option is the American Express EveryDay Credit Card, which has carried a 0% introductory APR on balance transfers for a limited time, though the exact offer changes. When you transfer a balance, Amex pays off your old card's balance directly, and you owe that amount to Amex instead — typically with a lower rate than you were paying before.

The real benefit is the introductory period. If you transfer $5,000 at 0% APR for 12 months, you pay no interest on that $5,000 for those 12 months, as long as you make at least your minimum payment. After the introductory period ends, the regular APR kicks in, which varies based on your credit score and current market rates. Most people use this window to pay down the balance faster without interest eating into each payment.

Key Takeaways

  • American Express balance transfer cards move your debt from another card to an Amex card at a lower rate, usually 0% for a set introductory period.
  • You pay a balance transfer fee — typically 3% to 5% of the amount transferred — charged upfront and added to your new balance.
  • The introductory 0% period lasts a set number of months; after that, the regular APR applies to any remaining balance.
  • You must make at least your minimum payment each month to keep the 0% rate; missing a payment can end the offer and raise your rate when ready.

Balance transfer fees and how they work

When you transfer a balance to an American Express card, Amex charges a balance transfer fee upfront. This fee is usually 3% to 5% of the amount you transfer, though the exact percentage depends on the specific card and the current offer. If you transfer $3,000 with a 3% fee, you pay $90 when ready — that $90 is added to your new balance on the Amex card, so you now owe $3,090.

The fee is worth paying only if the interest you save during the introductory period exceeds what you pay in fees. For example, if you transfer $3,000 at a 3% fee ($90) and your old card charged 18% APR, you would have paid $540 in interest over 12 months. Saving $450 in interest ($540 minus the $90 fee) makes the transfer worthwhile. But if you only transfer $500 and pay it off in three months, the fee might cost more than the interest you save.

Introductory periods and what happens after

American Express balance transfer offers typically include a 0% introductory APR that lasts anywhere from 6 to 21 months, depending on the card and the current promotion. During this time, you pay no interest on the transferred balance — only your minimum payment and the balance transfer fee you already paid. The introductory period applies only to the balance transfer itself, not to new purchases you make on the card, which usually accrue interest when ready at the regular purchase APR.

When the introductory period ends, any remaining balance on the transfer switches to the regular APR. This rate is not fixed; it varies based on your credit score, payment history, and current market conditions. Amex will tell you the range of possible APRs when you explore — for example, "15.99% to 25.99% APR" — but your exact rate depends on your creditworthiness. If you still owe $2,000 when the 0% period ends, that $2,000 will start accruing interest at your assigned rate.

How to transfer a balance to American Express

The process begins when you explore for an American Express card that offers a balance transfer promotion. You can explore online at americanexpress.com or through the mail. During the process, Amex will ask whether you want to transfer a balance; if you do, you provide the name of your current card issuer, your account number, and the amount you want to transfer.

After Amex approves your process and opens your account, the company contacts your old card issuer and arranges the transfer. This usually takes 7 to 14 days. During this time, keep making minimum payments on your old card — do not stop paying just because a transfer is in progress. Once the transfer completes, your old card's balance drops, and the amount appears on your new Amex statement with the balance transfer fee added.

You can also transfer a balance after you already have an American Express card open. Log into your Amex account online, look for the balance transfer option (usually under "Manage My Card" or a similar menu), and follow the prompts. You will need your old card's issuer name and account number. Amex will tell you when ready whether you are may be able to access and what introductory offer applies.

Who qualifies and credit score requirements

American Express does not publish a minimum credit score for balance transfer cards, but in practice, approval typically requires a credit score of 670 or higher. Your score is one factor; Amex also looks at your income, existing debts, payment history, and how long you have had credit accounts open. If you have missed payments, high existing balances, or a very recent bankruptcy, your chances of approval drop significantly.

Even if you are approved, the introductory offer may not explore to you. Amex sometimes approves applicants but offers them a shorter introductory period or a higher APR than the advertised rate. You will see your specific offer in the approval letter or email before you accept the card. If the offer is not attractive enough to justify the balance transfer fee, you can decline and try again later — declining does not hurt your credit.

Comparing American Express to other balance transfer options

American Express is one option, but other card issuers also offer balance transfer promotions. Visa and Mastercard cards from banks like Chase, Citi, and Capital One often have similar or longer introductory periods. The key differences are the length of the 0% period, the balance transfer fee, and the regular APR after the introductory period ends.

Some cards offer 0% for 18 months; others offer 21 months or longer. Some charge 3% to transfer; others charge 5%. Some have no annual fee; others charge $95 or more per year. The "best" card depends on your situation: if you have a large balance and need more time to pay it down, a longer introductory period matters more than a slightly lower fee. If you plan to pay off the balance quickly, a lower fee matters more than a longer period. Compare the total cost — fee plus interest after the introductory period — not just the headline offer.

What can go wrong and how to protect yourself

The most common mistake is missing a payment. If you miss even one minimum payment, American Express can end your introductory 0% offer when ready and raise your APR to the regular rate — sometimes as high as 25.99%. A single late payment can cost you hundreds of dollars in interest on the remaining balance. Set up automatic minimum payments from your bank account to avoid this.

Another risk is transferring a balance and then running up new charges on the card. New purchases usually accrue interest at the regular purchase APR right away, not at 0%. If you transfer $5,000 and then charge $1,000 in new purchases, you now have two separate balances on the card: the $5,000 transfer at 0% and the $1,000 purchase at the regular rate. Payments go toward the lowest-rate balance first, so your new purchases accrue interest while you pay down the transfer.

A third risk is not paying off the balance before the introductory period ends. If you transfer $5,000 and the 0% period lasts 12 months, you need to pay at least $417 per month to eliminate the balance before interest kicks in. If you only pay the minimum (which might be $50 or $100), you will still owe thousands when the period ends, and that remaining balance will accrue interest at 18% to 26% APR.

Frequently Asked Questions

Can I transfer a balance from another American Express card?

No. American Express does not allow you to transfer a balance from one Amex card to another Amex card. You can only transfer balances from cards issued by other companies — Visa, Mastercard, Discover, or other card networks. If you want to move debt between Amex cards, you must pay off the old card first.

What happens if I can't pay off the balance before the 0% period ends?

Any remaining balance will start accruing interest at the regular APR, which can be 15.99% to 25.99% depending on your creditworthiness. You will owe interest on that balance going forward. The best strategy is to pay as much as you can during the 0% period so the remaining balance is as small as possible when the rate changes.

Does a balance transfer hurt my credit score?

A balance transfer can temporarily lower your score because Amex does a hard inquiry on your credit report and opens a new account. However, if you use the transfer to pay down debt and keep your credit utilization low, your score usually recovers within a few months. Missing payments or running up new balances will hurt your score much more.

Can I transfer a balance if I have bad credit?

It is unlikely. American Express typically approves balance transfer cards for people with credit scores of 670 or higher. If your score is lower, you may be rejected, or approved with a less attractive offer. If you are rejected, wait 6 to 12 months, work on improving your score, and try again.

Is there a limit to how much I can transfer?

Yes. American Express sets a maximum balance transfer amount based on your credit limit and creditworthiness. This limit is usually shown when you explore or when you request a transfer. You cannot transfer more than your credit limit, and Amex may set a lower limit based on your income and existing debts.