How To Do a Balance Transfer With American Express

If you're paying high interest on your credit card debt, a balance transfer can be an effective way to reduce interest charges and make faster progress toward becoming debt-free. An American Express® balance transfer may allow eligible cardholders to move debt from another credit card to an eligible Amex card with a promotional introductory annual percentage rate (APR), potentially saving hundreds of dollars in interest.

The process itself isn't complicated, but there are a few important details to understand before you begin. Eligibility varies by card and applicant, balance transfer fees can affect your savings and transfers aren't completed instantly. Knowing what information you'll need, how to submit your request and what to do while the transfer is processing can help you avoid common mistakes.

This guide explains how to do a balance transfer with American Express, including who qualifies, how the process works, what it costs and how to maximize your savings.

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Key Takeaways

• An American Express balance transfer moves debt from another issuer to an eligible Amex card: You generally can't transfer between two Amex cards, so it's used to move balances from cards like Chase, Citi, Discover, Bank of America or Capital One.

• You can request it three ways: During a new card application, through your online account on an existing eligible card, or by calling the number on the back of your card.

• Expect a transfer fee of about 3% to 5%: Moving a $5,000 balance at a 3% fee adds $150, bringing your new balance to $5,150 — so compare the fee against the interest you'd save before you commit.

• Transfers aren't instant — keep paying your old card: Completion often takes five to seven business days but can stretch to several weeks, and missing a payment during that window can trigger late fees, penalty interest and credit damage.

• Have a payoff plan before the intro APR ends: Divide your balance by the number of promotional months to set your monthly target, since any leftover balance reverts to the card's regular variable APR.

• Treat it as a payoff tool, not a spending one: Avoid new purchases until the transferred balance is gone, since new charges can start accruing interest right away.

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Quick Answer: How To Do a Balance Transfer With American Express

To complete an American Express balance transfer, compare eligible balance transfer credit card offers, gather your current credit card information, submit your transfer request online or by phone and continue making payments on your old card until the transfer is complete. Once the balance posts to your new account, focus on paying it off before the introductory APR expires to maximize your savings.

Can You Do a Balance Transfer With American Express?

Yes, eligible borrowers can transfer debt to an American Express credit card that offers balance transfers. Depending on the card, you may be able to request the transfer during the application process, after you're approved through your online account or by contacting American Express.

However, not every American Express card offers balance transfers, and approval depends on factors such as your creditworthiness and the terms of the specific offer.

One of the biggest restrictions to remember is that American Express generally doesn't allow balance transfers between two American Express credit cards. Instead, balance transfers are typically used to move debt from another issuer — such as Chase, Citi, Discover, Bank of America or Capital One — to an eligible Amex card.

If your goal is to consolidate multiple credit card balances, confirm that each account is eligible before submitting your request.

What You Need Before You Start

Taking a few minutes to gather your information beforehand can make the process much smoother.

Before requesting your balance transfer, have the following ready:

• The account number for the credit card you're paying off

• The name of the current credit card issuer

• The amount you'd like to transfer

• Your American Express account information or approved application

• Your available balance transfer limit

• The applicable balance transfer fee

• The promotional APR terms and expiration date

It's also a good idea to review your credit card statements to verify your current balance. Requesting a transfer that exceeds your available credit limit may result in a partial transfer or denial.

How To Do a Balance Transfer on a New American Express Card

If you don't already have an eligible American Express card, your first step is comparing available balance transfer offers.

While a long introductory APR period is attractive, don't overlook the balance transfer fee or the card's regular variable APR after the promotional period ends. The best offer is one that gives you enough time to pay off your debt while minimizing the overall cost of transferring your balance.

Once you've chosen a balance transfer card and are approved, you'll generally have the opportunity to submit your balance transfer request either during the application process or shortly after opening your account. You'll need to provide the name of your current card issuer, the account number and the amount you want to transfer.

How To Do a Balance Transfer on an Existing Eligible American Express Card

If you already have an eligible American Express credit card, you may be able to initiate a balance transfer through your online account.

After logging in, look for balance transfer options under your account services or payment and credit management tools. If your account is eligible for a promotional offer, you'll be prompted to enter information about the account you're paying off, including the issuer, account number and transfer amount.

Some promotional offers are only available for a limited time after opening an account, so review the terms carefully before submitting your request. Waiting too long could mean missing out on a lower introductory APR.

How To Do a Balance Transfer by Phone

If you'd rather speak with a representative, you can also request a balance transfer by calling the customer service number on the back of your American Express card.

The representative will ask for the same information you'd provide online, including the name of your current credit card issuer, the account number and the amount you want to transfer. They can also answer questions about eligibility, promotional offers and your available transfer limit before processing your request.

How Much Does an Amex Balance Transfer Cost?

Most American Express balance transfer offers charge a balance transfer fee, which is typically calculated as a percentage of the amount transferred. While the exact fee varies by offer, many balance transfer cards charge around 3% to 5% of the transferred balance, often with a minimum fee.

For example, transferring a $5,000 balance with a 3% balance transfer fee would add $150 to your new balance, bringing it to $5,150.

Even if you qualify for a 0% introductory APR, remember that the fee is added to your balance. Before moving a balance, compare the fee against the interest you expect to save. In many cases, the savings outweigh the upfront cost, but it's worth doing the math first.

How Long Does an Amex Balance Transfer Take?

Balance transfers aren't processed instantly. In many cases, an American Express balance transfer is completed within five to seven business days, though it can take several weeks depending on the card issuer. 

While your transfer is pending, continue making at least the minimum payment on your original credit card. Failing to make payments before the transfer is complete could result in late fees, penalty interest rates and damage to your credit score.

Once the transfer posts and your previous account reflects a zero balance, you can stop making payments on that account unless you have other charges that weren't included in the transfer.

What To Do After the Transfer Is Initiated

Submitting your request is only the first step. Taking a few simple actions after initiating the balance transfer can help ensure everything goes smoothly.

First, monitor both your old and new credit card accounts until the transfer is complete. Confirm that the full balance moved successfully and that your previous account shows a zero balance.

Next, set up automatic payments or calendar reminders on your new American Express account. Missing even one payment could result in late fees and, in some cases, the loss of your promotional APR.

Finally, create a debt payoff plan. Divide your remaining balance by the number of months in your introductory APR period to determine how much you'll need to pay each month to eliminate the debt before interest begins accruing.

If possible, avoid making new purchases with the card until you've paid off the transferred balance. Keeping your focus on debt repayment will help you get the most value from the balance transfer.

Common Amex Balance Transfer Mistakes To Avoid

A balance transfer can be a valuable financial tool, but only if you use it strategically. Avoid these common mistakes that could reduce — or even eliminate — the benefits.

Missing Payments During the Transfer

Many borrowers assume they can stop paying their old credit card as soon as they request a transfer. That's a costly mistake.

Because transfers can take several days or even weeks to process, you should continue making at least the minimum payment until your previous balance officially reaches zero. Missing payments could lead to late fees, credit score damage or a penalty APR.

Making Only Minimum Payments

A 0% introductory APR can make credit card minimum payments feel manageable, but paying only the minimum may leave you with a large balance when the promotional period expires.

Instead, calculate how much you'll need to pay each month to eliminate the balance before the introductory offer ends. Doing so allows you to maximize your interest savings and avoid carrying expensive debt afterward.

Overlooking Fees or Promotional Terms

A balance transfer fee reduces your overall savings, so it's important to factor that cost into your decision.

You should also understand when the promotional APR expires and what interest rate will apply afterward. If you still have a significant balance once the introductory period ends, your remaining debt could begin accruing interest at the card's regular variable APR.

Adding New Purchases

A balance transfer should help you pay off existing debt — not create new debt.

Using your card for additional purchases while paying off a transferred balance can make it more difficult to become debt-free. Depending on your card's terms, new purchases also may begin accruing interest immediately if they aren't covered by a promotional purchase APR.

Whenever possible, avoid using the card for new spending until you've paid off the transferred balance.

How To Tell if an Amex Balance Transfer Is a Good Fit

A balance transfer makes the most sense if you have a realistic plan to pay off your debt before the introductory APR expires. Before applying, compare available offers carefully. A longer promotional period or lower balance transfer fee could make one offer significantly more valuable than another.

You'll also want to consider your spending habits. If you're committed to avoiding new debt and making consistent monthly payments, a balance transfer can simplify repayment and reduce the amount you spend on interest. But if you expect to continue carrying balances or making large purchases, the long-term savings may be limited.

You may also want to explore debt consolidation if you're considering additional ways to combine multiple debts into a single payment. And if your primary goal is eliminating credit card debt altogether, these strategies to pay off credit card debt can help you create a realistic repayment plan.

Bottom Line

Completing an American Express balance transfer isn't difficult, but paying attention to the details can make a big difference in how much you save.

Before requesting a transfer, make sure you understand the eligibility requirements, fees and promotional terms. Continue making payments on your old account until the transfer is complete, verify that the correct balance moved and develop a plan to pay off the debt before the introductory APR expires. Used wisely, a balance transfer can be an effective tool for reducing interest costs and accelerating your journey toward becoming debt-free.

FAQs About American Express Balance Transfers

Can you transfer a balance from one Amex card to another?

Generally, no. American Express typically doesn't allow balance transfers between two American Express credit cards. Most balance transfers involve moving debt from another card issuer to an eligible American Express card.

How long does an Amex balance transfer take?

Many balance transfers are completed within five to seven business days, although some requests may take several weeks. Continue making payments on your original account until the transfer is complete.

What do you need to start a balance transfer with American Express?

You'll typically need your existing credit card account number, the name of your current card issuer, the amount you'd like to transfer and an eligible American Express card or approved application.

Does a balance transfer hurt your credit score?

A balance transfer itself doesn't directly lower your credit score, but applying for a new credit card usually results in a hard inquiry that can cause your score to dip temporarily. Over time, paying down your balance and lowering your credit utilization rate can positively impact your credit.

Is an American Express balance transfer worth it?

It can be if you qualify for a competitive introductory APR offer and can pay off most or all of your balance before the promotional period ends. Be sure to factor in any balance transfer fees when comparing your potential savings.

Key Terms

• Balance transfer: Moving debt from one credit card to another — usually to a lower or 0% introductory APR. The debt still exists; the goal is to pay it off before the promo ends.

• Introductory (promotional) APR: The temporary low or 0% rate on a transferred balance. Any balance left when it expires reverts to the card's regular variable APR.

• Balance transfer fee: A charge of about 3% to 5% of the amount moved, often with a minimum, added directly to your new balance rather than billed separately.

• Regular variable APR: The standard rate that applies after the promotional period ends, which can move over time with the prime rate.

• Same-issuer restriction: The rule that prevents transferring a balance between two American Express cards, so the debt must come from a different issuer.

• Available transfer limit: The maximum you can move to your Amex card, including the fee. Requesting more than your available credit can lead to a denied transfer.

• Hard inquiry: The credit check triggered when you apply for a new card, which can temporarily dip your score before consistent payments help it recover.

• Credit utilization rate: The share of your available credit you're using. Paying down a transferred balance lowers it, which can help your score over time.

Sources

• CFPB: What is a balance transfer fee? Can a balance transfer fee be charged on a zero percent interest rate offer?

• CFPB: How long can I keep a low rate on a balance transfer or other introductory rate?

• CFPB: Does it hurt my credit to close a credit card? 

• CFPB: What is the best way to pay off credit card debt? 

Summary generated by AI, verified by MoneyLion editors

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