Considering a balance transfer to an American Express credit card? Here’s everything you need to know, including card options, fees, restrictions and tips for improving your chances of approval.
If you have existing debt on credit cards with sky-high interest rates, a balance transfer to an American Express card could be the best solution. Balance transfers offer consumers a do-over in a sense. There are limitations, of course, and American Express typically charges a fee to transfer an existing balance.
Here’s everything you need to know about transferring existing credit card debt to an American Express card.
How to do a balance transfer with American Express
Unfortunately, at this time, American Express doesn’t allow balance transfers. When available, American Express cardholders can check to see if they are eligible for a balance transfer through their online account.
What you should know about an American Express balance transfer before applying
- No option right now. While balance transfers aren’t currently available through American Express. If you need to transfer an existing balance, you should consider other balance transfer credit cards.
- Future options. Just because you can’t transfer a balance to American Express credit cards now doesn’t necessarily mean they won’t offer this option in the future.
- You are not allowed to transfer a balance from one American Express card to another American Express-branded card.
- Approval isn’t guaranteed. American Express uses your creditworthiness to determine eligibility for a balance transfer. American Express could reject your request if your credit isn’t up to par.
How to improve the chances of your balance transfer being approved
Here are some tips to help your chances of being approved for a balance transfer:
Know your credit score. Your credit score is the single most important factor considered for a balance transfer by card issuers.
- Work to improve your score. Work to improve your credit score before requesting a balance transfer if possible. Some ways to boost your score include making on-time bill payments, paying down debt balances, and not applying for new credit cards until after you’re approved for a balance transfer.
- Look up your credit limit. A card issuer will typically deny balance transfer requests if you request a transfer amount higher than your credit limit. Consider your credit limit when requesting a balance transfer.
- Pay attention to balance transfer offers. Most balance transfer offers require you to request a transfer within a specific time period to qualify. Make sure you request a transfer within the allotted time to ensure eligibility.
Top American Express balance transfer offers
American Express currently offers several credit cards that come with 0% intro APR offers on purchases, but not on balance transfers.
Blue Cash Preferred® Card from American Express
- 0% promotional period: 12 months for purchases and balance transfers.
- Regular APR: Variable of 16.24% to 27.24%. For further information, see the Blue Cash Preferred® Card review.
- Worth noting: Earn a $350 statement credit after spending $3,000 in the first six months of card membership. 6% cash back at U.S. supermarkets (up to $6,000 in purchases per year, then 1%) and on select U.S. streaming subscriptions, 3% back at U.S. gas stations and transit, and 1% back on general purchases. $95 annual fee.
Blue Cash Everyday® Card from American Express
- 0% promotional period: 15 months for purchases and balance transfers.
- Regular APR: Variable of 16.24% to 27.24%. For more information, see Blue Cash Everyday® Card review.
- Worth noting: Earn a $200 statement credit after spending $2,000 in the first six months of card membership. 3% cash back at U.S. supermarkets, U.S. gas stations and U.S online retail purchases (up to $6,000 per year in purchases in each category, then 1%), and 1% everywhere else. No annual fee.
Frequently asked questions about American Express balance transfers
What types of balances am I able to transfer with American Express?
American Express doesn’t allow balance transfers currently.
How much debt am I able to transfer with American Express?
Unfortunately, American Express doesn’t currently allow balance transfers.
How do I check the status of my American Express balance transfer?
Balance transfers aren’t allowed by American Express currently.