cancel
Showing results for 
Search instead for 
Did you mean: 

WOW just learned something interesting about Citi and AMEX

tag
dodfire
Valued Contributor

WOW just learned something interesting about Citi and AMEX

So I just called Citi Bank to do a balance transfer and was denied because I was transferring a balance from American Express.

The CSR advised me that Citi issues AMEX cards for the reason that they cannot perform the balance transfer.

Am I the only one that did not know this?

*8/10/13
Message 1 of 9
8 REPLIES 8
myjourney
Super Contributor

Re: WOW just learned something interesting about Citi and AMEX


@dodfire wrote:

So I just called Citi Bank to do a balance transfer and was denied because I was transferring a balance from American Express.

The CSR advised me that Citi issues AMEX cards for the reason that they cannot perform the balance transfer.

Am I the only one that did not know this?


Didn't know that either and I see a shiny new spade Wooo Hooo

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 2 of 9
dodfire
Valued Contributor

Re: WOW just learned something interesting about Citi and AMEX


@myjourney wrote:

@dodfire wrote:

So I just called Citi Bank to do a balance transfer and was denied because I was transferring a balance from American Express.

The CSR advised me that Citi issues AMEX cards for the reason that they cannot perform the balance transfer.

Am I the only one that did not know this?


Didn't know that either and I see a shiny new spade Wooo Hooo


Yes!!! Still hanging in the garden!!! Not coming out for a while to try to get my score back up...that last spree cost me 14 points.

*8/10/13
Message 3 of 9
Open123
Super Contributor

Re: WOW just learned something interesting about Citi and AMEX

Really?  That's surprising!  I wonder if this restriction is in place only if the Bank offers Amex?  Since Chase doesn't, I assume one can balance transfer to a Chase card?

Message 4 of 9
enharu
Super Contributor

Re: WOW just learned something interesting about Citi and AMEX

You could write the BT check to yourself, deposit into your checking account, and then pay your Amex balance I suppose.

Interesting that they wouldn't do it though. Is there something in the Amex agreement that prohibits that?
JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Message 5 of 9
dodfire
Valued Contributor

Re: WOW just learned something interesting about Citi and AMEX


@Open123 wrote:

Really?  That's surprising!  I wonder if this restriction is in place only if the Bank offers Amex?  Since Chase doesn't, I assume one can balance transfer to a Chase card?


Im not sure who all it applies to the CSR rattled off several names of cards that also offer Amex branded cards including Macys. So I assume that ANY bank that offers AMEX brands are out of the question.

*8/10/13
Message 6 of 9
longtimelurker
Epic Contributor

Re: WOW just learned something interesting about Citi and AMEX

I find it hard to believe (which doesn't mean it isn't true).   I know some banks issue balance transfer checks (really cash advance checks with special rates) that you can deposit into your bank account, and then pay Amex.

 

Edit: beaten to it by others..

Message 7 of 9
dodfire
Valued Contributor

Re: WOW just learned something interesting about Citi and AMEX


@longtimelurker wrote:

I find it hard to believe (which doesn't mean it isn't true).   I know some banks issue balance transfer checks (really cash advance checks with special rates) that you can deposit into your bank account, and then pay Amex.


Yes I am sure that it would work that way. The CSR asked if I wanted a check or to pay direct to the creditor. I opted for creditor and when I gave them the account number she said that they could not do the balance transfer because it would be Citi to Citi. 

*8/10/13
Message 8 of 9
dodfire
Valued Contributor

Re: WOW just learned something interesting about Citi and AMEX


@enharu wrote:
You could write the BT check to yourself, deposit into your checking account, and then pay your Amex balance I suppose.

Interesting that they wouldn't do it though. Is there something in the Amex agreement that prohibits that?

Looks as if that would be the only way to go in this case. Im not sure about what is in the AMEX agreement. But, I will try to find more information.

*8/10/13
Message 9 of 9
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.