American Express Balance Transfer Credit Cards

Information verified correct on October 26th, 2016
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American Express offers competitive balance transfer rates so you can save on high interest costs. Compare the offers available to you today and transfer to a new American Express credit card

If you’re burdened with debt that’s collecting high interest, it might be time for a balance transfer. American Express is just one of many providers who offer balance transfer credit cards, allowing you to repay your balance at a lower interest rate for a promotional period. Discover the benefits, terms and conditions and application process of a balance transfer with American Express below.

Comparison on American Express Balance Transfer Credit Cards

Rates last updated October 26th, 2016
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Balance transfer rate (p.a.) Purchase rate (p.a.) Annual fee Interest Saved
American Express Essential Credit Card
Receive a $50 credit on eligible spend and get Smartphone screen insurance combined with a no annual fee for life card. Also enjoy a 0% p.a. balance transfer rate for 12 months.
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
Receive 10,000 Membership Rewards Bonus Points when you meet the minimum spend requirement. Enjoy 0% p.a. for 12 months on balance transfers and receive a complimentary Virgin Australia domestic economy return flight every year.
0% p.a. for 12 months with 1% balance transfer fee 20.74% p.a. $195 p.a. Go to site More info
American Express Qantas Discovery Card
Enjoy up to 7,500 bonus Qantas Frequent Flyer Points and 1 point per $1 spent, plus 0% p.a. on balance transfers for 12 months, all for a $0 annual fee.
0% p.a. for 12 months with 1% balance transfer fee 20.74% p.a. $0 p.a. Go to site More info
American Express Qantas Ultimate Card
Enjoy 50,000 bonus Qantas Points when you meet the minimum spend requirement and earn up to 3 Qantas Points for every $1 spent. Also enjoy a complimentary return 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
Receive 100,000 Membership Rewards Bonus Points on eligible spend within the first 2 months of Card Membership. Also enjoy a $400 travel voucher and two complimentary airline passes per year.
0% p.a. for 12 months with 1% balance transfer fee 20.74% p.a. $395 p.a. Go to site More info

How does an American Express balance transfer work?

Similar to most balance transfers, you’ll be able to transfer a debt that’s collecting high interest on your existing card to an American Express with a low promotional balance rate for a set period. The balance transfer rate will change to the revert rate at the end of the promotional period, so you’ll want to repay your entire balance before this happens.

To consolidate your debt with an American Express card, you’ll need to request a balance transfer during your application. Here you’ll need to provide details about your old account and the amount you wish to transfer. You can usually transfer up to 70% of the approved credit limit with American Express, so you’ll want to ensure that the card can support your balance before you complete the transfer. If you’re approved for the balance transfer, you’ll be charged a one-off 1% balance transfer establishment fee.

Once you’ve received your card, you can start consolidating your debt. Please be mindful that American Express balance transfer offers exclude any existing or previous card members. If you’re already a card member of American Express and looking to transfer your existing balance to a lower rate, you may want to consider alternative balance transfer options with other banks.
Learn more and compare American Express credit cards here

Things to consider when transferring to American Express

  • Approval. If you are approved for an eligible American Express card and have been approved, the approval process for your balance transfer will start 72 hours after card approval. It’s important to have this date marked in your calendar so you know when your balance transfer period ends.
  • Revert rate. After the balance transfer period ends, it’s important to know what the interest rate will revert to. American Express states that the standard rate, or purchase rate of interest will be charged on any remaining balance in your account.
  • Payments. Upon the approval of your balance transfer, any payments to the credit card issuing companies or banks are generally completed within 15 working days.
  • Rewards. You do not earn points on balance transfers.

Restrictions for an American Express balance transfer

  • Non-Australian cards. The balance is in a foreign currency or from a card not issued in Australia.
  • Existing American Express card. You’re transferring from other American Express cards, except ones that are issued by other banks but you will need to state your MasterCard or Visa account number during your application
  • Overdue. A card account that is overdue or is over the limit.
  • Other debts. Non-credit cards accounts such as personal loans or overdrafts.

It’s also important to note that American Express will not process the following:

  • Transfer limit. You can’t transfer balances that are less than $50. You can transfer up to 70% of your credit limit, to a maximum of $10,000.
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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.



Credit Cards Comparison

Rates last updated October 26th, 2016
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
Enjoy a 0% p.a. balance transfer offer for 18 months and also earn 2 bonus Velocity Points in the first 3 months on everyday spend.
20.74% p.a. 0% p.a. for 18 months $64 p.a. annual fee for the first year ($129 p.a. thereafter) Go to site More info
ME Bank frank Credit Card
Enjoy a low and consistent interest rate on purchases and cash advances, combined with no annual fee.
11.99% p.a. $0 p.a. Go to site More info
HSBC Platinum Credit Card
Receive a full annual fee refund and save $149 if you meet the $6,000 spend requirement. Enjoy a balance transfer offer and platinum card benefits such as complimentary insurances and concierge services.
19.99% p.a. 0% p.a. for 15 months $149 p.a. Go to site More info
NAB Low Rate Credit Card
The NAB Low Rate Card offers 0% p.a. on purchases and balance transfers for 15 months. This card also comes with a low annual fee.
0% p.a. for 15 months (reverts to 13.99% p.a.) 0% p.a. for 15 months with a one off 3% balance transfer fee $59 p.a. Go to site More info

* The credit card offers compared on this page are chosen from a range of credit cards has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.

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