Amex bal transfer declined - confused

mancitychick · 12 June 2006 at 10:30AM

At the beginning of the year i applied and was accepted for a nectar card with a £7800 limit I have used it a few times and cleared the amount in full each time. It came with a life of bal transfer offer at 5.9% valid till end of May.

So just before the end of May I rang up and transfered £4700 off my M&S &More card to them......or so I thought. Been away on hols and got back yesterday to a letter from AMEX thanking me for my interest but telling me the transfer has been unsuccessful. After calling Bombay today (and tryiong to get blood from a stone!) they tell me that after considering my application and using experian as per their T&C's they cannot offer me a balance transfer.

So I aksed does this mean all though I havd a 7800 cr limit I could go and try to make a 5k purchase tomorrow only for this to be declined? Amex said no you can spend up to your limit its just the bal transfer thats been declined. Told him I was confused but he just kept repeating the same sentance.

Anyway I am confused - Is this normaly practice for Amex? Any other bal trfs I have done with other cards have always gone through as long as within in my limit.

Can anybody shed any light on this please.

grumbler · 12 June 2006 at 1:34PM

mancitychick wrote:

Is this normaly practice for Amex?

See New AMEX card - but balance transfer rejected ...

The_Boss · 12 June 2006 at 1:38PM

This happened to the Mrs too

The_Boss · 12 June 2006 at 1:39PM

Blimey, Grumbler is on the ball!

AMILLIONDOLLARS · 12 June 2006 at 5:10PM

So this begs the question, is anyone getting to balance transfer on their Amex Card? I will be doing a poll on this

The_Boss · 12 June 2006 at 5:22PM

More to the point, is it legal to sell a card to someone on the basis of the balance transfer and then refuse it?

AMILLIONDOLLARS · 12 June 2006 at 5:29PM

That's why, I am hoping that my poll will generate enough response, so that Martin can look into this, so everyone, please vote, so that Martin can see the extent of the problem.

AMD

brokenwings · 12 June 2006 at 5:36PM

i recently applied for and got a BA amex with the offer of a balance transfer at 4.9% for life of transfer

i wanted to transfer my tesco visa balance over and was refused as the visa was maxed out

if you read the small print - well at least in my case - it says you may not transfer the balance from cards which are over 95% of limit
i paid a bit off my visa - reapplied - and got the transfer

not saying this is what has happened in your case- but perhaps it could be?

The_Boss · 12 June 2006 at 5:56PM

brokenwings wrote:

i recently applied for and got a BA amex with the offer of a balance transfer at 4.9% for life of transfer

i wanted to transfer my tesco visa balance over and was refused as the visa was maxed out

if you read the small print - well at least in my case - it says you may not transfer the balance from cards which are over 95% of limit
i paid a bit off my visa - reapplied - and got the transfer

not saying this is what has happened in your case- but perhaps it could be?

Not at all in our case.

MSE_Martin · 12 June 2006 at 10:57PM

Just heard - Amex are stopping all balance transfers! Looking into it at the moment

trickster · 13 June 2006 at 12:29PM

Any news Martin? I have had an Amex LOB at 4.9% for a couple of months and transferred a balance at the beginning. The T&C's stated that I could transfer a balance any time within the first 6 months for the same deal.

Am looking to use up the rest of the credit limit (bar 5% or so) in the next month or two. Surely they can't go back on their own terms and conditions.

Amex bal transfer declined - confused

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