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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 November 23rd, 2017
$
% p.a.

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Name Product Balance transfer rate (p.a.) Purchase rate (p.a.) Annual fee Amount Saved Product Description
Qantas American Express Discovery Card
0% p.a. for 12 months with 1% balance transfer fee
20.74% p.a.
$0 p.a.
Earn Qantas points that can be redeemed for a one way, return or multi-destination Classic Flight Reward on over 50 partner airlines.
American Express Explorer Credit Card
0% p.a. for 12 months with 1% balance transfer fee
20.74% p.a.
$395 p.a.
Receive a $400 Travel Credit every year and up to two entries per year to the American Express Lounge at Sydney International Airport.
American Express Essential Credit Card
0% p.a. for 12 months with 3% balance transfer fee
14.99% p.a.
$0 p.a.
Get Smartphone Screen Insurance of up to $500 when you pay for your phone or contract with your Essential Credit Card.
American Express Platinum Edge Credit Card
0% p.a. for 12 months with 1% balance transfer fee
20.74% p.a.
$195 p.a.
Receive a $200 Travel Credit every year and complimentary domestic and international travel insurance.
Qantas American Express Ultimate Card
0% p.a. for 12 months with 1% balance transfer fee
20.74% p.a.
$450 p.a.
Take advantage of a high Qantas Points earn rate and two American Express Airport Lounge entries each calendar year.
American Express Velocity Escape Card
0% p.a. for 12 months with 1% balance transfer fee
20.74% p.a.
$0 p.a.
Earn uncapped Velocity points on purchases and redeem for a range of rewards including flights, accommodation, car hire and gift cards.

Compare up to 4 providers

Rates last updated November 23rd, 2017
$
% p.a.

Your search criteria didn't return any products. Click to reset your filter options and search again
Name Product Balance transfer rate (p.a.) Purchase rate (p.a.) Annual fee Amount Saved Product Description
St.George Vertigo Platinum - Online Offer
0% p.a. for 24 months
12.74% p.a.
$0 p.a. annual fee for the first year ($99 p.a. thereafter)
Platinum card benefits plus 0% p.a. for 24 months on balance transfers (with no BT fee) and $0 annual fee in the first year. Ends 13 December 2017.
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
0% p.a. for 18 months
20.74% p.a.
$129 p.a.
Earn 3 bonus Velocity Points per $1 for the first 3 months, a first year annual fee refund and a yearly $129 Virgin Australia Gift Voucher.
NAB Premium Card
0% p.a. for 20 months with 2% balance transfer fee
19.74% p.a.
$90 p.a.
Benefit from premium perks including travel insurance, Platinum Concierge Service plus 0% p.a. for 20 months on balance transfers.
Citi Platinum Credit Card - 100k Bonus Points
0% p.a. for 15 months with 1% balance transfer fee
20.99% p.a.
$49 p.a. annual fee for the first year ($149 p.a. thereafter)
Earn 100,000 reward Points, take advantage of a long-term balance transfer offer and receive complimentary travel insurance.
ANZ Platinum Credit Card - Exclusive Offer
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)
Exclusive to finder, receive 0% p.a. interest on purchases for 3 months and 0% p.a. on balance transfers for 12 months with no balance transfer fee.
HSBC Platinum Credit Card
0% p.a. for 22 months with 2% balance transfer fee
19.99% p.a.
$129 p.a.
Earn 1 Reward Point per $1 of eligible spend and receive complimentary travel and purchase protection insurances.
Bankwest Breeze Classic Mastercard
0% p.a. for 13 months with 2% balance transfer fee
0% p.a. for 13 months (reverts to 12.99% p.a.)
$79 p.a.
Receive 0% interest offers on purchases & balance transfers, up to 55 days interest-free on purchases and free emergency card replacement.
St.George Vertigo Visa - Online Offer
0% p.a. for 18 months
13.24% p.a.
$0 p.a. annual fee for the first year ($55 p.a. thereafter)
Take advantage of 0% p.a. for 18 months on balance transfers (with no BT fee). Plus, $0 annual fee in the first year. Ends 13 December 2017.
Westpac Low Rate Card - Online Only Balance Transfer Offer
0% p.a. for 24 months with 2% balance transfer fee
13.49% p.a.
$59 p.a.
Take advantage of 0% p.a. for 24 months on balance transfers with a 2% balance transfer fee when you apply online by 31 January 2018.
NAB Low Fee Card
0% p.a. for 16 months with 2% balance transfer fee
19.74% p.a.
$30 p.a.
Receive complimentary purchase protection insurance, special offers from Visa Entertainment and up to 44 days interest-free on purchases.

Compare up to 4 providers

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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?

american express logo

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

  1. Default Gravatar
    JaniceDecember 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
      ElizabethDecember 29, 2014Staff

      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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