American Express does not offer balance transfers on most of its cards

American Express stopped offering balance transfer features on nearly all of its consumer credit cards years ago. If you hold an American Express card and want to move a balance from another card, you cannot do it through American Express. This is different from Visa or Mastercard issuers, many of which still offer this feature.

The one exception is the American Express EveryDay Credit Card, which occasionally offers a balance transfer option during promotional periods. Even when available, the terms are not competitive with what you will find elsewhere. If you are looking to transfer a balance, your options lie with other card issuers entirely.

Key Takeaways

  • American Express removed balance transfer options from nearly all consumer cards and has not brought them back.
  • The EveryDay Credit Card is the only American Express product that has occasionally offered balance transfers, and only during specific promotional windows.
  • If you need a balance transfer, you will need to open a card from a different issuer such as Chase, Capital One, Citi, or Discover.
  • Balance transfer cards from other issuers often come with 0% introductory rates for 6 to 21 months, which American Express does not match.

Why American Express stepped away from balance transfers

American Express built its business model around customers who pay their full balance each month. The company charges merchants higher fees than Visa or Mastercard do, and it makes money from those interchange fees rather than from interest charges on revolving balances. Balance transfers are attractive to people who carry debt, which does not fit American Express's core customer profile.

By removing balance transfer options, American Express signaled that it was not competing for customers in the debt-management space. This decision has remained consistent for over a decade. If you are an American Express cardholder looking to consolidate debt, the company is essentially telling you to look elsewhere.

The EveryDay Credit Card exception

The American Express EveryDay Credit Card has been the only consumer American Express product to offer balance transfers, but only sporadically. When American Express does offer this feature on the EveryDay card, it typically appears as a limited-time promotion lasting a few months. The introductory rate and length vary depending on when you explore.

Even when available, the EveryDay balance transfer offer is rarely the best option on the market. Other issuers regularly offer 0% introductory periods of 12 to 21 months with no transfer fees, while American Express's offers have historically been shorter and come with fees attached. You should compare the EveryDay offer against cards from Chase, Capital One, Citi, and Discover before deciding.

Where to find balance transfer cards instead

If you need to move a balance, start by looking at cards from issuers that actively compete in this space. Chase offers several balance transfer cards, including the Chase Slate Edge and the Chase Freedom Unlimited. Capital One, Citi, and Discover all have cards designed specifically for people moving balances from other cards.

These cards typically offer 0% introductory rates for 6 to 21 months, depending on the card and the current market. Many also waive the balance transfer fee during the promotional period, which can save you hundreds of dollars. The trade-off is that these cards may have lower rewards rates or higher ongoing interest rates than American Express cards, so compare the full picture before opening a new account.

What to do if you already have an American Express card

If you hold an American Express card and want to transfer a balance, you have two paths. First, you can open a new card from a different issuer that offers balance transfers. This means a new account, a new credit inquiry, and a new card in your wallet — but it solves the problem directly.

Second, you can pay down the balance on your American Express card using cash or income, then use a balance transfer card from another issuer for any remaining debt on other cards. This approach lets you keep your American Express card active while still taking advantage of a 0% promotional period elsewhere. The choice depends on how much debt you are carrying and how quickly you can pay it down.

How balance transfers work on other cards

When you open a balance transfer card with another issuer, the process is straightforward. You provide the card issuer with the account number and balance amount from your old card. The new issuer sends a payment directly to the old card's bank, moving the balance to your new card.

This transfer typically takes 5 to 14 business days. During that time, you should keep making minimum payments on the old card to avoid late fees. Once the transfer completes, you owe the balance on the new card instead. The 0% introductory rate applies to that transferred balance, meaning you pay no interest during the promotional period — as long as you do not make new purchases on the card or miss a payment.

Comparing balance transfer cards from other issuers

Several major issuers offer balance transfer cards with different terms. Chase's Slate Edge typically offers 0% for 6 months with the transfer fee often waived. Capital One's Quicksilver card offers similar terms. Citi's Simplicity card extends the 0% period to 12 to 21 months, and Discover's it Balance Transfer card offers 0% for 6 to 18 months.

These offers change frequently, so check each issuer's website for current terms. The length of the introductory period matters most — a longer 0% window gives you more time to pay down the balance without interest. The transfer fee, usually 3% to 5% of the amount transferred, can add up quickly on large balances, so prioritize cards that waive it during the promotional period.

Frequently Asked Questions

Can I transfer a balance from American Express to another card?

Yes. You would open a new card with a different issuer that offers balance transfers, then provide that issuer with your American Express account details. The new issuer pays off your American Express balance, and you owe the amount to the new card instead. American Express itself does not facilitate this transfer — the new card issuer does.

Will opening a new balance transfer card hurt my credit score?

Opening a new card creates a hard inquiry on your credit report, which may lower your score by a few points temporarily. However, the benefit of a 0% promotional period usually outweighs this short-term impact. Your score typically recovers within a few months as you pay down the transferred balance.

What happens to my American Express card if I transfer the balance away?

Your American Express card remains open and active. You can continue using it for new purchases if you want, though most people stop using it while paying down a transferred balance on another card. Keeping the account open helps your credit score by maintaining your available credit and payment history.

Is there a limit to how much I can transfer?

Yes. The new card issuer sets a credit limit based on your income, credit score, and payment history. You can transfer up to that limit, but not more. If you need to transfer a large balance, you may need to open multiple balance transfer cards or pay down part of the balance first.

What if I miss a payment during the 0% period?

Missing a payment usually ends the introductory rate when ready, and the regular interest rate kicks in on the entire remaining balance. This can be expensive, so set up automatic minimum payments to avoid this outcome. Even if you plan to pay more, the automatic payment acts as a safety net.