Balance transfers conducted with American Express cards with a low introductory APR can be a viable option for cardholders looking to pay down debt with little to no interest. Balance transfer credit cards typically offer 0% APR on balance transfers for a limited time after which the card’s standard variable APR will apply to any remaining balance (with Amex, when the issuer does make such offers, this is often between nine and 21 months).
To take full advantage of a balance transfer card, pay off the entire balance before the no-interest period ends. Calculate the ideal monthly payment before applying for a balance transfer card by dividing the total transfer amount (plus any transfer fee cost) by the number of months offered as an intro period. The result is how much the monthly payment should be to pay off all debt before interest accrues.
American Express Balance Transfer Offers
Amex has been known to change its balance transfer offers, so check the Amex website to be sure of any updated terms or additional cards offering balance transfers. Currently, five cards offer opportunities to transfer a balance at a 0% introductory APR, to be followed by the card’s ongoing balance transfer APR. Balance transfer fees apply.
- Amex EveryDay® Credit Card*: 0% intro APR on purchases and balance transfers for 15 months, followed by a regular APR of 18.24% - 29.24% variable. A balance transfer fee of $5 or 3%, whichever is greater, applies.
- Amex EveryDay® Preferred Credit Card*: 0% intro APR on purchases and balance transfers requested within 60 days of opening the account for the first 12 months from the date of account opening, followed by a regular APR of 18.24% - 28.24% variable. A balance transfer fee of either $5 or 3% of the amount of each transfer, whichever is greater applies.
- Blue Cash Everyday® Card from American Express: 0% intro APR for 15 months on purchases and on balance transfers requested within 60 days of account opening, followed by a variable APR of 19.24%-29.99%. A balance transfer fee of $5 or 3%, whichever is greater, applies. (Terms apply. See rates & fees)
- Blue Cash Preferred® Card from American Express: 0% introductory APR for 12 months on purchases and balance transfers requested within the first 60 days of account opening, followed by a variable APR of 19.24%-29.99% variable. A balance transfer fee of $5 or 3%, whichever is greater, applies. (Terms apply. See rates & fees)
- American Express Cash Magnet® Card*: 0% introductory APR on purchases and balance transfers for the first 15 months of account opening, followed by a variable APR of 19.24% - 29.99%. Balance transfers must be requested within 60 days of account opening and a balance transfer fee of either $5 or 3% of the amount of each transfer, whichever is greater, applies.
Blue Cash Preferred® Card from American Express
Up to 6% Reward Rate
Earn 6% cash back at U.S. supermarkets, on up to $6,000 per year in purchases (then 1%); Earn 6% cashRead More
Welcome Bonus
Earn $250
Annual Fee
$0 intro annual fee for the first year, then $95
Regular APR
19.24%-29.99% Variable
Credit Score
Excellent/Good (700 - 749)
Big spenders at US supermarkets and road warriors who frequently spend at US gas stations or transit like taxis, rideshares or transit can rack up impressive cash back rewards.
- High cash-back rewards in several categories of spending
- No enrollment is required, cash back is automatic
- Comes with several travel benefits and protections
- Charges an annual fee
- 6% cash back at U.S. supermarkets is capped at $6,000 in annual spending (then 1%)
- Earn a $250 statement credit after you spend $3,000 in purchases on your new Card within the first 6 months.
- $0 intro annual fee for the first year, then $95.
- Buy Now, Pay Later: Enjoy $0 intro plan fees when you use Plan It® to split up large purchases into monthly installments. Pay $0 intro plan fees on plans created during the first 12 months from the date of account opening. Plans created after that will have a monthly plan fee up to 1.33% of each eligible purchase amount moved into a plan based on the plan duration, the APR that would otherwise apply to the purchase, and other factors.
- Low Intro APR: 0% on purchases and balance transfers for 12 months from the date of account opening. After that, your APR will be a variable APR of 19.24% – 29.99%. Variable APRs will not exceed 29.99%.
- 6% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%).
- 6% Cash Back on select U.S. streaming subscriptions.
- 3% Cash Back at U.S. gas stations.
- 3% Cash Back on transit (including taxis/rideshare, parking, tolls, trains, buses and more).
- 1% Cash Back on other purchases.
- Cash Back is received in the form of Reward Dollars that can be redeemed as a statement credit or at Amazon.com checkout.
- Get up to $120 in statement credits annually when you pay for an auto-renewing subscription to Equinox+ at equinoxplus.com with your Blue Cash Preferred® Card. That’s $10 in statement credits each month. Enrollment required.
- Thinking about getting the Disney Bundle which can include Disney+, Hulu, and ESPN+? Your decision made easy with $7/month back in the form of a statement credit after you spend $9.99 or more each month on an eligible subscription (subject to auto renewal) with your Blue Cash Preferred® Card. Enrollment required.
- Terms Apply.
How To Do a Balance Transfer With American Express
The best way to do a balance transfer with American Express is to first apply for a card offering an introductory 0% APR period for balance transfers. If you aren’t offered an introductory rate, you may still be able to do a balance transfer, but at a much higher interest rate. If this sounds like a situation you’re in, it may be better to consider a personal loan.
Apply for a New American Express Credit Card
Check the American Express website regularly to find new balance transfer credit cards. Look for offers that include zero interest, low fees and extra benefits like cash back or travel rewards. See if you pre-qualify by filling out the form on Amex’s website. Preapproval offers are not guaranteed, so make sure to submit a formal application once you’re confident your credit and financial situation are likely to be approved. That said, the Amex Apply With Confidence experience will enable you to see if you are approved you with a completed application and only a soft credit pull so you can apply knowing your credit score will not be affected if you aren’t approved. Your credit score may be impacted if you are approved and choose to accept the card. Apply With Confidence is available for individuals applying for a U.S. personal card via Forbes Advisor, at AmericanExpress.com/us/credit-cards, or by calling American Express and is not available if you apply for a card after you log into an existing account.
If a balance transfer offer is available to you, you can apply through the Amex website. During the application process you can request that American Express pay off the debt you’re looking to transfer or issue you a balance transfer check you can use to settle the other account. Keep making payments on the old account until the transfer is complete.
To avoid interest, make payments on time and pay off the entire balance (including the fee) before the intro period ends.
How To Find the Best American Express Credit Cards
Use an Existing American Express Credit Card
Current cardholders can log into their accounts to view eligibility for a balance transfer from another credit card issuer. If possible, American Express’s website will walk you through the application process. The Apply With Confidence experience may not be available if you apply for a card after you log into an existing account.
Call the number on the back of your card to inquire when in doubt. Make sure to follow best practices before transferring a balance—consider the length of the introductory period and the fee before committing.
Blue Cash Everyday® Card from American Express
For no annual fee, the Blue Cash Everyday® Card from American Express offers excellent value in the right hands. Spending a lot at U.S. supermarkets and U.S. gas stations brings plump rewards, while the introductory APR rate on purchases helps keep your interest expenses down. Look elsewhere for foreign transactions.
- No annual fee
- Introductory APR offer on purchases and balance transfers
- Above-average earnings at U.S. supermarkets, U.S. gas stations and online retail purchases in the U.S.
- Elevated earnings at U.S. supermarkets, U.S. gas stations, and online retail purchases in the U.S. are capped at $6,000 in annual spending per category
- Rewards earning outside of the bonus categories is just 1% cash back
- Earn a $200 statement credit after you spend $2,000 in purchases on your new Card within the first 6 months.
- No Annual Fee.
- Balance Transfer is back! Enjoy 0% intro APR on purchases and balance transfers for 15 months from the date of account opening. After that, 19.24% to 29.99% variable APR.
- 3% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases, then 1%.
- 3% Cash Back on U.S. online retail purchases, on up to $6,000 per year, then 1%.
- 3% Cash Back at U.S. gas stations, on up to $6,000 per year, then 1%.
- Cash Back is received in the form of Reward Dollars that can be redeemed as a statement credit or at Amazon.com checkout.
- Thinking about getting the Disney Bundle which can include Disney+, Hulu, and ESPN+? Your decision made easy with $7/month back in the form of a statement credit after you spend $9.99 or more each month on an eligible subscription (subject to auto renewal) with your Blue Cash Everyday® Card. Enrollment required.
- Enjoy up to $15 back per month when you purchase a Home Chef meal kit subscription (subject to auto renewal) with your enrolled Blue Cash Everyday® Card.
- Terms Apply.
American Express Balance Transfer Fees
Generally, balance transfer fees run between 3% to 5% of the amount being transferred. Fees can add up quickly to hundreds of dollars depending on the size of the balance. Make sure to do the math to be sure that the amount you’d pay for a balance transfer fee is less than what you’d pay in interest by leaving your current debt where it is.
The best balance transfer cards offer low fees and no interest for at least 12 months. Keep an eye out for these to find the best opportunity for paying down debt (and remember you will likely need a good to excellent credit score to qualify).
How Much Can I Transfer?
Balance transfers depend on your new card’s limit. New cardholders can typically transfer up to the card’s maximum credit limit, while existing cardholders may transfer up to the limit of their remaining available credit.
Part of the American Express application process includes requesting how much you want to transfer from an old credit card account. Ideally, American Express will approve the amount and give you at least the credit limit you need.
How Long Does It Take for an Amex Balance Transfer To Go Through?
When American Express allows balance transfers, it usually takes five to seven days for American Express to complete a balance transfer. Some transfers may take up to six weeks.
Continue to make monthly payments due to your old credit card issuer until the transfer is complete. Neglecting the old account while the transfer is still processing may result in late fees and damage to your credit.
Bottom Line
Balance transfer credit cards can be an excellent opportunity to pay down debt from an old credit card with high interest rates. You can transfer a balance from an American Express card to another issuer, but this process is usually initiated with the other issuer. If a balance transfer card is right for you, be sure to follow a few best practices while paying down the balance. Make payments on time, read the fine print and check your credit utilization rate before closing that old credit card account. Try to avoid collecting more debt as you pay down old balances.
Find the Best Balance Transfer Credit Cards Of 2024
To view rates and fees for Blue Cash Everyday® Card from American Express please visit this page.
To view rates and fees for Blue Cash Preferred® Card from American Express please visit this page.
Frequently Asked Questions (FAQs)
How can I view Amex balance transfer options?
If you’re already an Amex customer, your options may be different. Check the American Express website’s balance transfer offer page to see what offers are available to you.
How do I check on my Amex balance transfer request?
You can check on an American Express balance transfer request through the Amex website. Once logged in, click on “Account Services” then select “Payment & Credit Options” and subsequently go to “Check Balance Transfer Status.” You can also call the number on the back of your card.
Why won't Amex let me do a balance transfer?
Though Amex disallowed balance transfers in 2020 and didn’t seem to allow them for some time after, it is once again advertising balance transfer offers. You’ll need to check on your balance transfer request status using instructions above or contact the company for details about why your specific request may have been denied.
What are the best Amex balance transfer credit cards?
The best Amex balance transfer cards are those offering the longest 0% introductory APR on balance transfers. Currently, only five Amex cards offer introductory APRs on balance transfers and three of them tend to offer longer introductory APR periods:
How do I transfer my Amex balance to another card?
Typically the lender you are transferring the balance to will handle the transfer. Most issuers allow you to include in your application that you’d like to transfer a balance. Have your Amex account number available when you apply.
Is it possible to transfer a balance from one Amex card to another Amex card?
Unfortunately it is not possible to transfer balances between Amex cards. It is only possible to transfer a balance from another issuer.
Does American Express do 0% balance transfers?
Amex currently has five cards that offer a 0% introductory rate on balance transfers. The three that tend to offer the longer promotions are:
