American Express balance transfer offers and terms

American Express offers balance transfer options on select credit cards, though fewer than Visa or Mastercard issuers. The main American Express card with a balance transfer feature is the Blue Cash Preferred Card, which allows you to transfer balances from other cards at a promotional rate. The promotional period typically runs 6 to 12 months depending on the card and current offer, after which a standard purchase APR applies to any remaining balance.

The balance transfer APR during the promotional period is usually 0%, meaning you pay no interest on transferred balances if you clear them before the promotion ends. American Express charges a balance transfer fee of 3% of the amount transferred, with a minimum fee of $5. This fee is added to your balance when ready, so if you transfer $5,000, you owe $5,150 to pay off the full amount interest-free.

After the promotional period ends, any unpaid balance reverts to the card's standard APR, which varies based on creditworthiness and current market rates. American Express does not publish a fixed APR range the way some issuers do, so you will see your specific rate only after approval.

Key Takeaways

  • American Express balance transfer cards charge a 3% fee upfront, added to your balance, so a $5,000 transfer costs $150 in fees alone.
  • The 0% promotional period lasts 6 to 12 months depending on the card offer, and any balance remaining after that period is charged the card's standard APR.
  • You must have an American Express card already or be approved for one to transfer a balance, since American Express does not issue cards through other banks.
  • Balance transfers count as a cash advance on some American Express cards, which means they may carry a higher APR and different fees than on other issuers' cards.

Which American Express cards allow balance transfers

The Blue Cash Preferred Card is the primary American Express card marketed with a balance transfer offer. This card is designed for everyday spending and carries an annual fee of $95. The balance transfer promotion on this card typically offers 0% APR for 6 to 12 months, though the exact terms change based on current offers.

American Express also issues the Blue Cash Everyday Card, which has no annual fee but does not currently feature a balance transfer promotion. If you are considering American Express specifically for a balance transfer, check the current offer on the Blue Cash Preferred before explore, because promotions shift and the terms you see online are the ones that explore to your process.

Other American Express cards, including business cards and premium travel cards, may offer balance transfer options, but these are less common and often require you to contact American Express directly to learn the terms. The company does not advertise balance transfer features on most of its card lineup.

How to transfer a balance to an American Express card

Once you are approved for an American Express card with a balance transfer offer, you can request a transfer through your online account or by calling the customer service number on the back of your card. American Express will ask you for the account number of the card you want to transfer from, the issuer's name, and the amount you want to move.

The transfer typically posts to your American Express account within 7 to 14 business days. During this time, you should continue making at least the minimum payment on the original card to avoid late fees or damage to your credit score. Once the transfer completes, the balance appears on your American Express statement, and the 3% fee is added to your total owed.

You can transfer balances from any credit card issued by any bank or card network — Visa, Mastercard, Discover, or another American Express card. You cannot transfer from store cards, charge cards, or lines of credit that are not credit cards.

Comparing American Express to other balance transfer issuers

American Express balance transfer cards typically charge a 3% fee, which is standard across the industry. However, some Visa and Mastercard issuers offer 0% balance transfer fees for a limited time, or charge only 2% instead of 3%. The promotional APR period on American Express cards (6 to 12 months) is shorter than what some competitors offer — Citi and Chase cards sometimes feature 18-month or 21-month 0% periods.

American Express cards also tend to have higher annual fees than comparable Visa or Mastercard products. The Blue Cash Preferred costs $95 per year, while many Visa and Mastercard balance transfer cards charge $0 annually. If you plan to use the card only for the balance transfer and then close it, the annual fee reduces the savings you get from the 0% period.

One advantage of American Express is that the company often approves applicants with fair credit, whereas some Visa and Mastercard issuers require good or excellent credit. If your credit score is below 670, an American Express card may be easier to obtain than a competing offer.

What happens after the promotional period ends

When the 0% promotional period expires, any remaining balance on your American Express card is charged the card's standard APR. This rate is not disclosed until after you are approved, so you will not know the exact number before explore. American Express typically charges between 15% and 25% APR depending on your creditworthiness, though rates can fall outside this range.

If you have not paid off the transferred balance by the time the promotion ends, you should prioritize paying it down before interest accrues. Interest on credit cards compounds daily, so a $3,000 balance at 20% APR costs roughly $50 per month in interest alone if you make no payments.

You can avoid interest charges after the promotion by transferring the remaining balance to another 0% card, though this triggers another balance transfer fee. This strategy works only if you find another card with a promotional offer and are approved for it before your current promotion expires.

American Express credit requirements and approval odds

American Express typically requires a credit score of 670 or higher to be approved for the Blue Cash Preferred Card, though some applicants with scores in the 650 to 670 range report approval. The company also reviews your income, existing debt, and payment history. A recent late payment or high credit utilization (using more than 30% of your available credit) can result in denial or a lower credit limit.

American Express does a hard inquiry on your credit report when you explore, which temporarily lowers your score by a few points. If you are denied, you can reapply after 90 days, though waiting longer and improving your credit profile (paying down balances, making on-time payments) increases your odds of approval on a second attempt.

The company does not publish approval rates or typical credit scores, so you cannot know your odds before explore. If you are concerned about your credit, you can check your score through a free service like Credit Karma or AnnualCreditReport.com before submitting an process.

Fees and costs beyond the balance transfer fee

The 3% balance transfer fee is the main cost, but American Express cards carry other fees you should understand. The Blue Cash Preferred charges a $95 annual fee, due every year you keep the card open. If you close the card within the first year, you do not get a refund of the annual fee.

American Express also charges a cash advance fee if you use the card to withdraw cash from an ATM. This fee is typically 3% of the amount withdrawn, with a minimum of $2.50. Some American Express cards treat balance transfers as cash advances, which means they carry a cash advance APR (usually higher than the purchase APR) and the cash advance fee applies. Check the terms for your specific card to confirm whether balance transfers are treated as purchases or cash advances.

Late payments incur a late fee of $25 to $39 depending on how late the payment is. If you miss a payment by more than 60 days, American Express may report the delinquency to credit bureaus, which damages your credit score.

Frequently Asked Questions

Can I transfer a balance from another American Express card?

Yes, you can transfer a balance from one American Express card to another American Express card if the receiving card offers a balance transfer promotion. The 3% fee still applies. This is useful if you have an older American Express card with a high APR and want to move the balance to a newer card with a 0% promotional period.

What is the maximum amount I can transfer?

The maximum balance transfer amount is limited by your credit limit on the new American Express card. American Express will not let you transfer more than your available credit, and the transfer counts against your credit limit. If your credit limit is $5,000 and you transfer $5,000, you have $0 available to spend on the card.

Does a balance transfer hurt my credit score?

A balance transfer causes a small temporary dip in your credit score due to the hard inquiry and the new account. However, moving a balance from one card to another can improve your score over time if it lowers your credit utilization ratio — the percentage of available credit you are using. Paying down the transferred balance further improves your score.

Can I make purchases on the card while I have a balance transfer?

Yes, you can make new purchases on an American Express card with a balance transfer. However, new purchases are charged the card's standard purchase APR, not the 0% promotional rate. The 0% rate applies only to the transferred balance. To avoid confusion, many people use the card only for the balance transfer and pay it down before making new purchases.

What happens if I miss a payment during the promotional period?

Missing a payment can end the promotional 0% APR and cause the balance to revert to the standard APR when ready. American Express may also charge a late fee and report the missed payment to credit bureaus. Even one missed payment can cost you hundreds of dollars in interest, so set up automatic payments or calendar reminders to avoid this.