Current American Express balance transfer fee

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Current American Express balance transfer fee

Postby thriftymama » Sun Nov 07, 2010 8:44 pm

How do American Express balance transfer fees compare to other credit cards? I have a balance of about $5,800 that I need to find a new home for because the interest is killing me at 21.99!

I saw a Citi card with a good offer that I will probably go for. I was also thinking about getting another American Express and transferring the balance to it under a promotion if that can be done? Are balance transfer fees on American Express credit cards the same across the board or do any have a lower rate?

Thanks everyone ;)

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Postby JL70 » Sun Nov 07, 2010 9:35 pm

I think currently is 3% same as CITI, They are not too bad, usually transfer fee is 4-5%. Keep in mind that no issuer will let you transfer balances between their own cards.

Citi Diamond is offering up to 21 months for transfers at 0%, Amex Blue I think only 6 months. Excellent credit required)

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Postby CCG » Fri Nov 12, 2010 11:15 pm

The American Express balance transfer fee is comparable to most other credit cards but may vary slightly.

To learn more about the Citi offer and others, check out our sponsored listing of the best credit cards for balance transfers (updated weekly)

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Postby thriftymama » Sat Nov 13, 2010 4:58 pm

Thanks for the info! I will investigate BT listing!

I wasn't aware that transferring between different cards at the same bank wasn't allowed. :( 6 months isn't long enough to justify paying the 3% Amex balance transfer fee. Would it be likely for me to be granted a credit line high enough to accommodate my balance if I am opening a new non-Amex credit card?

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Postby Mogul of Pineapples » Sat Nov 20, 2010 4:45 pm

The current balance transfer fee for American Express Blue Cash is 3% or $5, whichever is greater. I know that because this week I received an update of terms sheet for my account and recall seeing that change.
Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed and linked to. Regardless, anything I say is my honest opinion.

Current Cards:
American Express: Blue Cash, Simply Cash Bank of America: WorldPoints Platinum Plus Chase: Amazon, British Airways, Cash Plus Rewards, Freedom, Ink Cash Citi: Thank You Premier, Dividend Platinum Select Discover: More
Primary Everyday Card: American Express Blue Cash
Primary Travel Card: Chase Sapphire Preferred

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