How to Do a Balance Transfer With American Express

Updated: June 10, 2024

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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.

KEY TAKEAWAYS
  • Balance transfers with American Express can take five to seven business days, but sometimes up to six weeks.
  • You can transfer balances up to your credit limit but not more than $7,500, depending on your creditworthiness and account history.
  • American Express offers an intro 0% APR period on balance transfers on certain cards, such the Blue Cash Everyday® Card and the Blue Cash Preferred® Card.

How to Do an American Express Balance Transfer

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.

How to Transfer Balance to a New American Express Card

1

Compare American Express cards and choose one that fits your financial goals. Generally, you’ll want a card that offers a 0% intro APR period and has no annual fee.

2

Once you’ve picked the card you want to get, apply for it. You’ll be asked to provide your name, date of birth, address, annual income and Social Security number, so it’s a good idea to have those details ready ahead of time.

3

After approval, you'll have the opportunity to initiate a balance transfer. Provide the necessary information from your old credit card such as your card number, issuer and the amount you’ll be transferring.

How to Transfer Balance With an Existing American Express Card

1

Log in to your American Express account.

2

Navigate to “Account Services” and select “Payment & Credit Options.”

3

Click on “Transfer Balances” and provide the necessary information, such as the other credit card issuer's name, account number and transfer amount.

Considerations for American Express Balance Transfers

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.

    calendar icon

    Processing Time

    Balance transfers are typically completed within five to seven business days. However, some transfers take around six weeks to complete.

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    Balance Transfer Amount

    You can transfer an amount less than your credit limit and no more than $7,500, subject to approval.

    signupBonus icon

    Number of Transfers

    Up to two balance transfer requests are permitted, each potentially consolidating debt from up to four different accounts.

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    Introductory Period

    Requests must be made within 60 days of account opening to qualify for introductory offers.

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    Balance Transfer Fee

    Expect a fee of either $5 or 3% of the transfer amount, whichever is greater. Factor this when determining if doing a balance transfer can help save you money.

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    Regular APR

    After the intro period, the APR ranges from 19.24% to 29.99% (variable). Any unpaid balance will be subject to this interest rate.

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    Transfer Restrictions

    Transfers between American Express cards are not allowed.

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    Credit Score

    Most American Express cards require a good to excellent credit score.

Best American Express Balance Transfer Credit Cards

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.

Blue Cash Everyday® Card From American Express
Credit Card logo for Blue Cash Everyday® Card From American Express
MoneyGeek Rating
3.6/ of 5

On Partner's Website


Rewards Rate
Earn 3% cash back at U.S. supermarkets on up to $6...
APR
19.24%–29.99% variable
Annual Fee
$0
Recommended Credit
670–850 (Good to Excellent)

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®.

Blue Cash Preferred® Card From American Express
Credit Card logo for Blue Cash Preferred® Card From American Express
MoneyGeek Rating
2.9/ of 5

On Partner's Website


Rewards Rate
Earn 6% cash back at U.S. supermarkets (up to $6,0...
APR
19.24–29.99% variable
Annual Fee
$0 intro annual fee for the first year, then $95
Recommended Credit
670–850 (Good to Excellent)

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.

FAQ: American Express Balance Transfers

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.

How long does it take to complete a balance transfer with American Express?
What is the maximum amount I can transfer with American Express?
Can I transfer a balance from one American Express card to another?
How many balance transfers can I make with American Express?

If You’re Looking for More

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.

About Doug Milnes, CFA


Doug Milnes, CFA headshot

Doug Milnes is a CFA charter holder with over 10 years of experience in corporate finance and the Head of Credit Cards at MoneyGeek. Formerly, he performed valuations for Duff and Phelps and financial planning and analysis for various companies. His analysis has been cited by U.S. News and World Report, The Hill, the Los Angeles Times, The New York Times and many other outlets.

Milnes holds a master’s degree in data science from Northwestern University. He geeks out on helping people feel on top of their credit card use, from managing debt to optimizing rewards.


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