How to Do a Balance Transfer With American Express

Transferring a balance to an American Express card is a straightforward process, typically completed within five to seven business days. While not all American Express cards feature balance transfer capabilities, those that do usually offer a 0% intro APR period ranging from 12 to 15 months, making them an attractive option for managing debt.

Understanding the details of your card's balance transfer feature is key to making the most of this financial tool. We'll discuss how to execute a balance transfer with American Express to help you use this process whether you're consolidating debt or need a temporary breather from interest payments.

Doing a balance transfer with American Express is a simple online process. You must apply for one first if you don't have an American Express card. After that, the balance transfer process is the same for both new and existing cardholder.

The devil is in the details when it comes to balance transfers. Below is a summary of American Express' typical terms, but for complete information, check the terms and conditions of your card.

The best balance transfer cards typically have a lengthy 0% intro APR period, low balance transfer fees and no annual fees. A more extended intro period can provide more time to pay off the balance without accruing interest, while lower fees can reduce the cost of transferring your balance.

The Blue Cash Everyday® Card from American Express offers a 0% intro APR for 15 months on balance transfers, with a balance transfer fee of either $5 or 3% of each transfer amount, whichever is greater. Notably, it doesn’t charge an annual fee.

Similarly, the Blue Cash Preferred® Card from American Express provides a 0% intro APR for 12 months on balance transfers and the same balance transfer fee structure. It has a $95 annual fee but offers higher cash back than Blue Cash Everyday®.

Both cards recommend a credit score of 670 to 850 and come with a regular APR of 19.24% to 29.99% variable. If your only goal is to do a balance transfer, the Blue Cash Everyday® is the better option, as it features a more extended 0% intro APR period and doesn’t charge an annual fee.

We responded to some frequently asked questions about balance transfers with American Express to help clarify the process and provide you with the knowledge to manage your balance transfers effectively.

A balance transfer can be a strategic move to eliminate your debt and be on your path to your financially happy place. However, as you consider doing a balance transfer with American Express, it's important to assess the potential impact on your credit score and the fees that you will incur.

Your financial situation is unique, and whether a balance transfer aligns with your goals depends on your ability to pay off the balance before the promotional period ends and regular rates apply.

For rates and fees of the Blue Cash Preferred® Card From American Express, please click here.

For rates and fees of the Blue Cash Everyday® Card From American Express, please click here.