I have a real interesting question

Anonymous · ‎11-04-2016

Hello everyone. I have a real tricky and interesting question to throw out to you guys. I have an AMEX Blue Cash Preferred Card with a 20K CL. I currently have a $3,450 balance. When I got the card I had a 0% interest free for 15 months. Now, because I am paying my DW's CC bills she has outstanding credit. A FICO score of 792!!! So she recently applied for an AMEX card and got $13K starting CL. I was like WOW! She also got the 0% interest-free for 15 months and balance transfer. So can I transfer my balance to her AMEX card? As it gives us more time to pay it off and it brings my balance to 0 as my 15 months is coming close to an end. I don't know if this is allowed. If not, then fine. I was just asking. Never hurts to ask. All input is appreciated. Thanks in advance.

Anonymous · ‎11-04-2016

Yea. You can transfer over and get the 0%.

But don't spend anymore money. Pay off the debt first. 0% is not going to last forever.

Anonymous · ‎11-04-2016

No you cannot BT from one Amex card to another Amex card.

LuckyBird · ‎11-04-2016

@Anonymous wrote:
No you cannot BT from one Amex card to another Amex card.

Unless...if Amex allows you to make a deposit straight to your checking account via online or balance transfer check...you could do it that way and pay whatever you want with it. Not sure if this is possible with Amex but it is with some others...Citi specifically comes to mind...

austinguy907 · ‎11-04-2016

I wouldn't advise shuffling from your account to her account since AMEX will eventually flag it and probably end up suspending both accounts. You can always try though if you want to.

UncleB · ‎11-04-2016

Most issuers don't allow you to do a BT to another one of their cards, regardless of who owns the account. Also, I've never seen it mentioned that Amex will do a direct transfer into checking... that doesn't mean it's not possible - things are always changing - just that I've not read of it.

If I wanted to do what you're describing, I would use a go-between card to do the debt shuffle. My Capital One Cards both have a no-fee BT offer, but with no promotional period (so the purchase APR would apply immediately). In your case this would be fine, though... simply transfer your BCP balance to the Capital One card, then once it posts you could transfer it from there to your wife's card. The interest to Capital One would only be a few dollars for the handful of days the balance was with them.

It's not the most elegant solution, but it does work. If you don't have a non-Amex card with a no-fee BT feature you'll of course have to determine if the fees would make the exercise worthwhile.