topic Re: Best AMEX balance transfer ??? in Credit Card Applications

Best AMEX balance transfer ???

Anonymous — Fri, 21 Jun 2019 14:54:50 GMT

I’m interested in getting a new AMEX card. It will be my first one. I want to get something that has a balance transfer 0% interest.

They have a few of them? Any feedback on which route I should go, would be very much appreciated

Re: Best AMEX balance transfer ???

Anonymous — Fri, 21 Jun 2019 14:55:34 GMT

AmEx everyday.

no interest, no BT fee

Re: Best AMEX balance transfer ???

Remedios — Fri, 21 Jun 2019 14:57:24 GMT

Everyday card is 0% fee and 0% apr for the duration of intro offer.

There are some restrictions on BT amount, I think it's up to 70%-75% of SL. I could be wrong on that percentage (somewhere around there)

Re: Best AMEX balance transfer ???

Anonymous — Fri, 21 Jun 2019 14:59:18 GMT

@Remedios wrote:
Everyday card is 0% fee and 0% apr for the duration of intro offer.

There are some restrictions on BT amount, I think it's up to 70%-75% of SL. I could be wrong on that percentage (somewhere around there)

It depends on the CL but, generally speaking the max is $7500 regardless of the CL.

Re: Best AMEX balance transfer ???

Remedios — Fri, 21 Jun 2019 15:12:22 GMT

Thank you. Did not know that.

Re: Best AMEX balance transfer ???

Anonymous — Fri, 21 Jun 2019 15:15:59 GMT

Wait, I thought the max you could BT to Amex was $5000 now?

Re: Best AMEX balance transfer ???

Anonymous — Fri, 21 Jun 2019 15:17:08 GMT

Yeah, it's something they started doing in the last year.

Amex isn't an ideal place to BT though generally as their business model tradtionally is Charge not Credit. It seems they're leaning into the BT territory more but, limiting it severly for the time being. I guess dipping their toes in the water?

Re: Best AMEX balance transfer ???

Brian_Earl_Spilner — Fri, 21 Jun 2019 15:17:12 GMT

Everyday has no BT fee and up to 15 months 0%, the preferred has a fee and only 12 months.

Re: Best AMEX balance transfer ???

Anonymous — Fri, 21 Jun 2019 15:18:32 GMT

@Anonymous wrote:
Wait, I thought the max you could BT to Amex was $5000 now?

It's possible they dropped it. Either way it's not a significant amount or unlimited to the % of CL you see w/ other lenders.

Re: Best AMEX balance transfer ???

Anonymous — Fri, 21 Jun 2019 21:00:44 GMT

I was allowed 5000 in balance transfer with a CL of 8000, card opened in March.

Amex is also in the lending business, and with Pay Over Time they're adding a revolving element to their charge cards. This is an area of the business they're serious about.

Re: Best AMEX balance transfer ???

Anonymous — Sat, 22 Jun 2019 00:40:54 GMT

Flat out declined.

741 Experian score
710 on the other 2

No baddies.
UTI under 10%
100k income
3 years AAoA
4 or 5 inquiries in 6 months

Re: Best AMEX balance transfer ???

wasCB14 — Sat, 22 Jun 2019 00:45:19 GMT

What was the appeal of Amex in general, apart from ED's BT promo? Perhaps some other lender has a suitable product that fits your needs.