topic Re: New AMEX Everyday card - but no balance transfer available in Credit Cards

New AMEX Everyday card - but no balance transfer available

Anonymous — Fri, 10 Jul 2020 13:11:53 GMT

I just signed up for the new AMEX Everyday card because it was adversited that there is 0% APR for balance transfers.

But when I activated the card and went to look at balance transfer options I get "We're unable to extend balance transfer offers at this time."

Also the terms sheet that was delivered with the card says "0.00% introductory APR through your billing period that ends in October, 2021."

Does this happen to anyone else? Any insights appreciated!

Re: New AMEX Everyday card - but no balance transfer available

Anonymous — Fri, 10 Jul 2020 15:10:38 GMT

I don't see anything on that card advertising a 0% balance transfer offers. I do see the introductory APR (0%) offer on purchases, however.

AMEX has publicly stated that they are currently pumping the brakes on balance transfer offer. Just a sign of the current economic condition. AMEX isn't interested in ultimately being left to hold bad debt if things go south even more than they have.

Re: New AMEX Everyday card - but no balance transfer available

Anonymous — Fri, 10 Jul 2020 15:27:26 GMT

That have recently removed the BT offers on most if not all their products within the last 30 days. I also head that Citi did as well.

If a person is looking for a new CC for BT purposes they probably should stick with CU's for now, most of the big guys have scaled back in offering them.

Re: New AMEX Everyday card - but no balance transfer available

blindambition — Fri, 10 Jul 2020 15:34:06 GMT

@Anonymous wrote:
That have recently removed the BT offers on most if not all their products within the last 30 days. I also head that Citi did as well.
If a person is looking for a new CC for BT purposes they probably should stick with CU's for now, most of the big guys have scaled back in offering them.

The major banks have pretty much stopped for now. The ones available often give lower limits. Better chances with a CU.

Re: New AMEX Everyday card - but no balance transfer available

joltdude — Fri, 10 Jul 2020 15:40:22 GMT

The third thing iv noticed if you are offered a BT offer it has a fee that somewhat negates and/or really short term, or its not 0....CU is offering an interesting offer... a percentage back as a rebate for a BT... but you must not zero out the balance for 3+ months and their BTs are at their card rate... 8.X...... ... the other saving grace is that you technically may get a percentage of all your interest/payments back at the end of the year dividend..... but thats not a given...

Miss Disco still offering me BT offers but the terms are... Meh...

-J