topic Re: Balance Transfer from AMEX PRG to Amex BCE in Credit Cards

Balance Transfer from AMEX PRG to Amex BCE

Anonymous — Tue, 07 Jul 2015 17:18:55 GMT

Guys, I was wondering if this is ok to do:

I got approved for the PRG 50K from Amex, as well as BCE.

If I charge $1000 on the Amex PRG (to get the 50K rewards point), am I then able to transfer the $1K from the charge card to Amex BCE immediately, with no fees or penalty or issues?

Or si there a caveat, that I am not aware of, lol

Thanks

Re: Balance Transfer from AMEX PRG to Amex BCE

OmarGB9 — Tue, 07 Jul 2015 17:21:34 GMT

Don't know if it's possible to BT from the same bank since Amex would essentially be paying themselves in a sense. But I'll give this a bump for someone more knowledgeable and experienced to chime in.

Re: Balance Transfer from AMEX PRG to Amex BCE

Anonymous — Tue, 07 Jul 2015 17:21:53 GMT

I believe any balance transfers don't qualify as spending, if you are looking for the balance transfer to get the bonus on the BCE.

Re: Balance Transfer from AMEX PRG to Amex BCE

Anonymous — Tue, 07 Jul 2015 18:39:34 GMT

I'd chat w/ Amex about this, but I cannot imagine the balance transfer, if it's possible, would be fee free.

Why not just spend $11-12 a day and pay it every couple of weeks? You have 90 days to spend the $1,000, and would need to merely spend $11.11 a day to make it.

Re: Balance Transfer from AMEX PRG to Amex BCE

Skye12329 — Tue, 07 Jul 2015 18:45:15 GMT

You wouldn't be able to transfer form one Amex to another. Banks don't transfer from their own products to another. You could transfer your prg balance to another lenders card.

As for fees the only way to avoid the transfer fee is if your card has a 0% transfer fee.

Re: Balance Transfer from AMEX PRG to Amex BCE

Anonymous — Tue, 07 Jul 2015 18:54:23 GMT

@Skye12329 wrote:
You wouldn't be able to transfer form one Amex to another. Banks don't transfer from their own products to another. You could transfer your prg balance to another lenders card.

As for fees the only way to avoid the transfer fee is if your card has a 0% transfer fee.

Correct. Can't be done from one card to another within same creditor.