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American Express Balance Transfer Credit Cards

Interested in getting a balance transfer to an American Express credit card? Here’s what you need to know.

If you’re burdened with credit card debt and high interest charges, a balance transfer credit card could help ease your financial woes. By consolidating existing debt onto a balance transfer card offering low or 0% interest, you can save on interest fees during the card’s introductory period.

This option also gives you the opportunity to switch to a card that will suit your needs in the short and long terms. So if you’ve been considering an Amex card for a while, here you can discover the benefits, terms and conditions and application process to decide if an American Express balance transfer offer will work for you.

Comparison of American Express balance transfer credit cards

Rates last updated May 30th, 2017
$
% p.a.

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Balance transfer rate (p.a.) Purchase rate (p.a.) Annual fee Interest Saved
American Express Essential®  Credit Card
A no annual fee card that collects up to 1 Membership Rewards point for every $1 spent.
0% p.a. for 12 months with 1% balance transfer fee 14.99% p.a. $0 p.a. Go to site More info
American Express Platinum Edge Credit Card
Earn up to 3 Membership Rewards Points per $1 spent and receive a $200 Travel Credit every year.
0% p.a. for 12 months with 1% balance transfer fee 20.74% p.a. $0 p.a. annual fee for the first year ($195 p.a. thereafter) Go to site More info
American Express Velocity Platinum Card
Take off sooner with up to 2.5 Velocity Points per $1 spent and receive a complimentary Virgin Australia return domestic flight every year.
0% p.a. for 12 months with 1% balance transfer fee 20.74% p.a. $375 p.a. Go to site More info
Qantas American Express Discovery Card
Fly faster with up to 2 Qantas Points per $1 spent and enjoy the convenience of Apply Pay, Samsung Pay or Android Pay.
0% p.a. for 12 months with 1% balance transfer fee 20.74% p.a. $0 p.a. Go to site More info
Qantas American Express Ultimate Card
Fly faster with up to 2.5 Qantas Points per $1 spent and receive a complimentary Qantas domestic return Economy flight every year.
0% p.a. for 12 months with 1% balance transfer fee 20.74% p.a. $450 p.a. Go to site More info
American Express Explorer® Credit Card
Earn up to 2 Membership Rewards Points per $1 spent and receive a $400 Travel Credit every year.
0% p.a. for 12 months with 1% balance transfer fee 20.74% p.a. $395 p.a. Go to site More info
Rates last updated May 30th, 2017
$
% p.a.

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Balance transfer rate (p.a.) Purchase rate (p.a.) Annual fee Interest Saved
Virgin Australia Velocity Flyer Card - Exclusive Offer
Earn 2 Velocity Points on top of the standard earn rate per $1 spent within the first 3 months, plus a $129 Virgin Australia Gift Voucher each year.
0% p.a. for 18 months 20.74% p.a. $64 p.a. annual fee for the first year ($129 p.a. thereafter) Go to site More info
HSBC Platinum Credit Card
Earn 1 Reward Point per $1 spent and receive an annual fee refund with minimum spend.
0% p.a. for 22 months with 2% balance transfer fee 19.99% p.a. $99 p.a. Go to site More info
ANZ Platinum Credit Card - Exclusive Offer
Receive a low introductory offer of 0% p.a. on purchases for 3 months and 0% p.a. on balance transfers for 12 months. Also, enjoy an annual fee waiver in the first year.
0% p.a. for 12 months 0% p.a. for 3 months (reverts to 19.74% p.a.) $0 p.a. annual fee for the first year ($87 p.a. thereafter) Go to site More info
St.George Vertigo Visa
Save with 13.24% p.a. on purchases. Also enjoy up to 55 days interest-free.
0% p.a. for 14 months 13.24% p.a. $0 p.a. annual fee for the first year ($55 p.a. thereafter) Go to site More info
HSBC Low Rate Credit Card
Save with 13.25% p.a. on purchases. Also enjoy exclusive offers with the home&Away Privilege Program.
0% p.a. for 15 months with 2% balance transfer fee 13.25% p.a. $55 p.a. Go to site More info
NAB Low Rate Credit Card
Save with 13.99% p.a. on purchases. Also enjoy special offers from Visa Entertainment.
0% p.a. for 18 months with 3% balance transfer fee 13.99% p.a. $59 p.a. Go to site More info
Citi Rewards Platinum Credit Card
A long-term balance transfer offer with the Citi Rewards Platinum Card. Earn extra points on eligible international spend, plus complimentary travel insurance.
0% p.a. for 24 months with 1.5% balance transfer fee 20.99% p.a. $49 p.a. annual fee for the first year ($149 p.a. thereafter) Go to site More info
NAB Premium Card
Benefit from premium credit card advantages including travel insurance, Platinum Concierge Service plus 0% p.a. for 24 months on balance transfers.
0% p.a. for 24 months with 3% balance transfer fee 19.74% p.a. $90 p.a. Go to site More info
American Express Essential®  Credit Card
A no annual fee card that collects up to 1 Membership Rewards point for every $1 spent.
0% p.a. for 12 months with 1% balance transfer fee 14.99% p.a. $0 p.a. Go to site More info
NAB Low Fee Card
A low annual fee card with 0% p.a. on balance transfers for 18 months.
0% p.a. for 18 months with 3% balance transfer fee 19.74% p.a. $30 p.a. Go to site More info

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How does a balance transfer with American Express work?

You can consolidate debt from multiple cards onto an American Express card and enjoy 0% p.a. interest on the debt for the first 12 months, subject to the following conditions.

  • New customer. You must be a new American Express customer to qualify, and the balance transferred must also be from an account (or accounts) in your name.
  • Non-Amex debt. Your debt cannot be transferred from another American Express-issued card. However, you may transfer debt from a bank-issued dual-card account by quoting your Visa/Mastercard number on the balance transfer application.
  • Introductory interest rate. The introductory interest rate of 0% p.a. only applies for the promotional period, after which the interest rate will revert to the card’s standard rate.
  • Introductory period. Amex offers an introductory period of 12 months for balance transfer customers.
  • Minimum transfer amount. The balance transfer amount requested must be greater than $50.
  • Maximum transfer amount. You can transfer up to 70% of your approved credit limit, to a maximum dollar-value of $10,000.
  • Credit establishment fee. A one-time 1% credit establishment or balance transfer fee applies. This charge will attract the standard interest rate for that card.
  • Revert rate. This is the rate of interest that will apply to your balance if you don’t pay it off during the introductory period. The revert rate varies among Amex cards, but is usually the same as the standard variable rate for purchases or cash advances.

What debts can't I transfer to an American Express credit card?

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Debts from the following cards are ineligible for an American Express balance transfer offer:

  • Credit cards issued in foreign currencies
  • Cards issued outside of Australia
  • Card accounts that are overdue or over their credit limits
  • Non-credit card accounts (including debit cards, overdrafts, savings and personal loans)

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How to get an American Express balance transfer credit card

Use the following simple steps to compare and choose a balance transfer card from Amex:

1. Compare cards. Research a variety of balance transfer cards across brands to find the offer that most suits your circumstances. Keep in mind that the balance transfer fee percentage varies among cards, and some cards may not apply a fee at all for this service.

2. Apply for your chosen card. Applying online should take around 15–20 minutes. Just go to your chosen American Express card page and click “Apply now” at the bottom of the page. Make sure you’ve read and met all eligibility requirements. You will need to provide information including your contact details, employment, finances, expenses, assets and liabilities, as well as supporting documentation.

3. Include your balance transfer details. During the application, you will need to provide information about your existing debt and account, including the account name (which must match your name), the value of the debt you wish to transfer, your card issuer, BSB number and account/card number.

4. Wait for approval. If your card is approved, American Express will begin the approval process for your balance transfer 72 hours later. If the balance transfer is approved, it can take up to 10 days to be processed and appear on your new American Express credit card. The balance transfer promotional period commences on the day that the balance transfer itself is approved.

5. Start paying off your debt. Once your balance has been transferred, it is time to start chipping away at your debt. Organise a prudent payment plan and schedule payments to consistently reduce your balance. It is critical that you repay the entire debt during the introductory period, so you avoid interest fees at the higher revert rate.

While American Express balance transfer credit cards offer an attractive 0% interest for 12 months, remember to compare other cards and factor in all costs including balance transfer fees and annual fees to find the most suitable balance transfer card for you.

Learn more and compare American Express credit cards here

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2 Responses to American Express Balance Transfer Credit Cards

  1. Default Gravatar
    Janice | December 27, 2014

    I was given an offer, by mail, to transfer a balance from another credit card to my Amex card, for 6 months, at a rate of 2.99% for the 6 months. We are building a new house, should move into it soon, and this offer would help at this time. I was given the Offer code :N2990XXXXX and RSVP code 3499XXXXXXXXXXX. tried to apply online, as suggested, but none of the sites seemed to apply to my situation. I would like to transfer $4.500 from my Westpac Ignite card, for the 6 months, and pay it off with your low rate offer. Please advise. If I send the form in by mail you may not receive it by the 31st. December.

    • Staff
      Elizabeth | December 29, 2014

      Hi Janice,

      Thanks for your question.

      As you’re an existing cardholder this offer may need to be activated through your online account with American Express. You might want to take a look at your letter of offer again and see if any specific instructions are given. As this offer is only available to existing cardholders, we don’t have any specific details of it but it sounds like you’ll need to go directly through the American Express website.

      I hope this has helped.

      Thanks,

      Elizabeth

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