amex balance transfer funds limit

Anonymous · ‎09-03-2019

i just got approved for an amex BCE and my approval message says:

You have a Credit Limit of $6,000 and you may request up to $4,500 in balance transfer funds.

does this mean they will only let me transfer $4500 in total to their card, even though the limit on the card is 6k? or does it mean they will give me an extra $4,500 to my limit if i am transferring? what happens to that transfer limit if they allow a 3x CLI in 61days?

i don't need to transfer anything now, i just want to understand how it works. thanks

Remedios · ‎09-03-2019

@Anonymous wrote:
i just got approved for an amex BCE and my approval message says:
You have a Credit Limit of $6,000 and you may request up to $4,500 in balance transfer funds.

does this mean they will only let me transfer $4500 in total to their card, even though the limit on the card is 6k? or does it mean they will give me an extra $4,500 to my limit if i am transferring? what happens to that transfer limit if they allow a 3x CLI in 61days?

i don't need to transfer anything now, i just want to understand how it works. thanks

It means you can transfer $4,500 to your $6,000 SL. There is no additional $4,500

Anonymous · ‎09-03-2019

If means you can use up to $4500 of your $6000 credit limit for balance transfers. The amount you transfer will take up your credit limit.

They usually only allow balance transfers within 60 days of account opening, so starting on the 61st day you won't be able to make a balance transfer (unless they somehow gives you a balance transfer offer in the future).