What American Express balance transfer cards offer

American Express offers several cards that let you move debt from other credit cards to a new Amex card, usually at a lower interest rate for a set period. The main appeal is the introductory APR — typically 0% for 6 to 21 months, depending on the card — which gives you time to pay down the balance without interest charges piling up. After the intro period ends, a standard purchase and balance transfer APR kicks in.

The catch is the balance transfer fee. Amex charges between 2% and 3% of the amount you transfer, paid upfront. So if you move $5,000, you pay $100 to $150 when ready. This fee is added to your balance, meaning you start with more debt than you transferred. Some cards waive the fee for transfers made within the first 60 days of opening the account.

Balance transfer cards work best if you have existing credit card debt at a higher rate and can pay it down during the interest-free window. They do not erase the debt — they pause the interest while you work through it.

Key Takeaways

  • American Express balance transfer cards charge a 2% to 3% fee upfront, which is added to your balance, so the true cost is higher than the interest rate alone.
  • The 0% introductory APR period ranges from 6 to 21 months depending on the card; after it ends, a standard APR applies to any remaining balance.
  • Some Amex cards waive the balance transfer fee if you transfer within 60 days of opening the account, which can save hundreds of dollars.
  • You need an existing credit card balance to transfer; these cards are not useful if you have no debt or only carry balances on Amex cards already.
  • The monthly payment you make during the intro period goes toward the transferred balance first, so you must pay more than the minimum to reduce it meaningfully.

Current American Express balance transfer cards

Amex offers balance transfer options through several of its cards, though the specific terms and fees change. The American Express EveryDay Card and American Express EveryDay Preferred Card both allow balance transfers, as do some of Amex's business cards. The intro APR period and fee structure vary by card and by your creditworthiness — the rate you see in marketing materials is not may provide.

You can find current offers on Amex's website by filtering for "balance transfer" in the card search. The terms listed there are the ones that explore to new cardholders. Existing Amex cardholders sometimes receive different offers in the mail or through their online account.

Amex does not always advertise balance transfer options prominently, because the company makes more money from customers who carry balances at the standard APR. You may need to read the full terms of a card to see whether it includes a balance transfer offer at all.

How to transfer a balance to an Amex card

Once you open an Amex card with a balance transfer offer, you can request a transfer through your online account or by calling the number on the back of your card. You will need the account number and balance of the card you are transferring from. Amex will contact that card's issuer directly to move the funds.

The transfer typically posts within 7 to 14 business days. During that time, keep paying the minimum on your old card to avoid late fees. Once the transfer completes, the balance appears on your Amex statement, and the fee is added to it when ready.

If you are transferring from multiple cards, you can do that in one request or in separate requests. Each transfer counts toward your available credit on the Amex card, so if your limit is $10,000 and you transfer $8,000, you have $2,000 left to spend.

Comparing the fee and interest-free period

The real cost of a balance transfer is the fee plus any interest you pay after the intro period ends. A card with a 2% fee and a 12-month 0% period is cheaper than one with a 3% fee and a 21-month period only if you can pay off the balance within 12 months. If you need 18 months, the longer period saves you money even though the fee is higher.

Use this rough math: multiply your balance by the fee percentage to find the upfront cost. Then divide that by the number of months in the intro period to see the monthly "cost" of the fee. If you transfer $5,000 at 3% over 12 months, that is $150 divided by 12, or $12.50 per month. If the same $5,000 at 3% over 18 months is $150 divided by 18, or $8.33 per month. The longer period spreads the fee thinner.

Compare this to what you are paying now. If your current card charges 18% APR, you pay roughly $75 per month in interest on a $5,000 balance. Even with the Amex fee, the 0% period saves you money if you use it to pay down the debt.

When a balance transfer card makes sense

A balance transfer card is worth considering if you have $2,000 or more in credit card debt at a rate above 15%, and you have a realistic plan to pay it off within the intro period. The larger the balance and the higher your current rate, the more you save.

It also makes sense if you can pay off the balance in the first 60 days of opening the account, because some Amex cards waive the transfer fee during that window. This is rare and requires discipline, but it eliminates the largest upfront cost.

A balance transfer card does not make sense if you will still carry a balance after the intro period ends, because the standard APR that kicks in is often higher than your current rate. It also does not help if your credit score is too low to get approved, or if you do not have the income to support a new credit line.

Impact on your credit score

Opening a new Amex card triggers a hard inquiry on your credit report, which can lower your score by a few points temporarily. This usually recovers within a few months. The new account also lowers your average account age, which can have a small negative effect.

However, the balance transfer itself can improve your score over time. Moving debt from one card to another does not change your total debt, but it can lower your credit utilization ratio on the card you are transferring from. If you had a $5,000 balance on a card with a $10,000 limit (50% utilization), transferring that balance to Amex drops that card to 0% utilization, which helps your score.

The key is not to close the old card after you transfer the balance. Closing it removes available credit from your overall profile and can hurt your score. Leave it open with a $0 balance.

Alternatives to Amex balance transfer cards

Other card issuers offer balance transfer cards with similar or sometimes better terms. Chase, Citi, and Capital One all have cards with 0% intro periods and balance transfer fees. Some offer longer interest-free windows or lower fees than Amex, depending on the card and your credit profile.

If you do not want to open a new card, you can also ask your current card issuer for a lower APR. Many issuers will negotiate if you have a good payment history. This does not give you a 0% period, but it reduces the interest you pay without a hard inquiry or new account.

A personal loan is another option. If you have decent credit, you may find a loan with a fixed rate lower than your current card APR and no balance transfer fee. The tradeoff is a fixed monthly payment and a set repayment term, which removes the flexibility of a credit card.

Frequently Asked Questions

Can I transfer a balance from another American Express card?

No. Amex does not allow you to transfer a balance between its own cards. You can only transfer balances from cards issued by other banks. If you carry a balance on an existing Amex card, you would need to open a card with a different issuer to transfer it.

What happens to my balance transfer after the 0% period ends?

Any remaining balance on the card starts accruing interest at the standard APR listed in your card agreement. This rate is usually between 15% and 25%, depending on your creditworthiness and current market rates. The APR applies only to the transferred balance, not to new purchases (which may have a different rate).

Do I have to pay the balance transfer fee even if I pay off the balance during the intro period?

Yes. The fee is charged when the transfer posts, not when you pay it off. If you transfer $5,000 at 3%, you pay $150 when ready, even if you pay off the entire $5,150 within the first month. The only way to avoid the fee is if your card waives it for transfers made within a specific timeframe, usually 60 days.

Can I use a balance transfer card to move debt between my own accounts?

No. Balance transfers are designed to move debt from one person's card to another person's card. You cannot transfer a balance to yourself or consolidate multiple cards in your own name onto one Amex card using this feature. You can only transfer balances from credit cards issued to you by other banks.

What credit score do I need to get approved for an Amex balance transfer card?

Amex typically requires a credit score of 670 or higher, though some cards require 700 or above. The exact requirement varies by card and changes over time. You can check your score for free through many banks or credit monitoring services before you explore.