How to do a balance transfer with American Express

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As of June 18, 2020 the Blue Cash Everyday® Card from American Express, the Blue Cash Preferred® Card from American Express and the American Express Cash Magnet® Card no longer offers the 0% introductory APR on balance transfers.

For decades, American Express was known for their charge cards — revolving lines of credit that had to be paid in full at the end of each month. But over time, American Express has introduced a broad range of credit cards, many of which let you earn cash back or points in the popular American Express Membership Rewards program.

Some even let you transfer balances from other credit cards, usually with zero percent APR for a limited time. In other words, American Express balance transfers give you the opportunity to pay off high-interest debt you’ve built up on a different card.

But how do you complete an American Express balance transfer? If you’re feeling overwhelmed at the mere thought of moving debt from one credit card to another, this guide can help you through each step of the process.

Best American Express balance transfer credit card offers

Blue Cash Everyday® Card from American Express

  • Balance transfer offer: zero percent intro APR on purchases and balance transfers for 15 months, then a variable 12.99 to 23.99 percent
  • Balance transfer fee: 3 percent (minimum $5)
  • Rewards: 3 percent back up on to $6,000 spent at U.S. supermarkets each year (then 1 percent), 2 percent back at U.S. gas stations and select U.S. department stores and 1 percent back on other purchases
  • Annual Fee: $0
  • Credit Required: Excellent
  • Why you should transfer a balance to the Blue Cash Everyday® Card from American Express: Save money with zero interest on balance transfers and purchases for 15 months while earning rewards

Blue Cash Preferred® Card from American Express

  • Balance transfer offer: zero percent intro APR on purchases and balance transfers for 12 months, then a variable 12.99 to 23.99 percent
  • Balance transfer fee: 3 percent (minimum $5)
  • Rewards: Earn 6 percent back on select U.S. streaming services and up to $6,000 spent at U.S. supermarkets each year (then 1 percent), 3 percent back at U.S. gas stations and on transit (taxis/rideshare, parking, tolls, trains, buses and more) and 1 percent back on other purchases
  • Annual Fee: $95
  • Credit Required: Excellent
  • Why you should transfer a balance to the Blue Cash Preferred® Card from American Express: Save money with zero percent APR on balance transfers and purchases for 12 months while earning exceptional rewards on your spending.

Amex EveryDay® Credit Card

  • Balance transfer offer: zero percent intro APR on purchases and balance transfers for 15 months, then a variable 12.99 to 23.99 percent
  • Balance transfer fee: $0 for balance transfers requested within the first 60 days of account opening
  • Rewards: Earn 2x points on up to $6,000 in spending at U.S. supermarkets each year (then 1x) and 1x points on other purchases; you’ll also earn 20 percent bonus points on eligible purchases when you use your card for at least 20 transactions per billing period
  • Annual Fee: $0
  • Credit Required: Excellent
  • Why you should transfer a balance to the Amex Everyday® Credit Card: You can avoid interest on purchases and balance transfers for 15 months, and you won’t have to pay a fee for balance transfers initiated in the first 60 days of account opening.

The information about the Amex Everyday Credit Card has been collected independently by Bankrate.com. The card details have not been reviewed or approved by the card issuer.

American Express Cash Magnet® Card

  • Balance transfer offer: zero percent intro APR on purchases and balance transfers for 15 months, then a variable 12.99 to 23.99 percent
  • Balance transfer fee: 3 percent (minimum $5)
  • Rewards: Earn an unlimited 1.5 percent back on all purchases
  • Annual Fee: $0
  • Credit Required: Excellent
  • Why you should transfer a balance to the Cash Magnet® Card from American Express: Avoid interest payments on purchases and balance transfers for a full 15 months and earn flat-rate rewards for everything you buy.

How to do a balance transfer with American Express

The following steps can help you initiate your balance transfer so you can start saving money on interest right away.

Step 1: Select a new balance transfer credit card and apply

Start by comparing the balance transfer credit cards above to determine which one might work best for your needs. Any American Express balance transfer card can help you save money, but you should strive to wind up with a card that comes with an intro APR offer and rewards structure you prefer.

If you’ve recently acquired an American Express credit card and are still within the introductory APR period, you can move onto the next step. Note that the introductory APR starts from the date you open the account, not the date of your first transfer. So if you got an Amex Everyday card six months ago, a new balance transfer would have a zero interest APR for nine months, not a full 15 months (12.99 to 23.99 percent variable thereafter). You also cannot transfer a balance from one American Express card to another.

Step 2: Initiate a balance transfer online or over the phone 

To start the process online, log in to your American Express account where you’ll be able to find out if you’re eligible for a balance transfer. You will likely be able to find this information in your account by going to Account Services and selecting Transfer Balances.

If you are eligible for a balance transfer on your existing American Express card, you’ll need to enter the name of your other credit card provider, your other credit card account number and the mailing address where you send payments for your other credit card.

You can also call American Express customer service and let an account representative know you would like to transfer a balance to your new card immediately. They will request the same information in order to expedite your balance transfer — the other credit card provider’s name and information, your old account number and the mailing address where you send your credit card payment each month.

Next steps: What to know after completing a balance transfer with American Express

Once your balance transfer is in the works, it’s crucial for you to track the transfer from start to finish. You should:

  • Check your old account(s) frequently until the full balance has been moved to your new credit card account.
  • Make sure your old credit card account(s) have a zero balance before you stop making payments.
  • Check your new credit card balance to ensure your new balance transfer amount is correct as soon as the transaction posts.

Note that balance transfers typically take longer than most people realize to process. Most American Express balance transfers take five to seven business days, but it may take as long as six weeks for your balance transfer to be complete.

Frequently asked questions

Can you complete an American Express balance transfer online?

You can complete an American Express credit card balance transfer online or over the phone. If your goal is completing the transaction online, you’ll need to visit your online account and head to Account Services and then Transfer Balances.

How long does a balance transfer take with American Express?

Most American Express balance transfers take five to seven business days, although you may need to wait as long as six weeks for your balance transfer to process.

Where can I check the status of balance transfers with American Express?

Log in to your American Express account online and click on Account Services. At the bottom of the prompts, you will find a button that says Check Balance Transfer Status.

Can I transfer a balance from another American Express credit card?

American Express doesn’t allow balance transfers between their credit card products. If you have high interest debt on an American Express credit card, you should consider a different balance transfer credit card from another issuer.

How much will American Express charge me for a balance transfer?

American Express balance transfer cards all list their own unique fees and terms, but most charge 3 percent of each balance transfer upfront, with a minimum fee of $5. However, the Amex Everyday® Credit Card doesn’t charge balance transfer fees for any transfers started within 60 days of account opening. Note that credit card terms and conditions can change at any time.

How often does American Express give balance transfer offers?

You can apply for an American Express credit card that has a balance transfer offer at any time.

How to do a balance transfer with other card issuers

Editorial disclosure: All reviews are prepared by Bankrate.com staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including card rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the bank’s website for the most current information.


Still have questions about consolidating your debt with a balance transfer card? Browse Bankrate’s complete balance transfer catalog for everything you need to know before applying for one of the year’s top balance transfer offers.