Transferring balance from Amex

theburningcat

I have an American Express charge card. The balance of about £1800 is due in 5 days. I am not normally short of money but this month, my employer will probably pay me late (a separate problem entirely!) meaning that I won't have enough in my bank account to pay the balance off.

I'm trying to figure out a way of transferring the balance on to my credit card so that I can pay it off when things return to normal. I called Amex and they said that since they are not a bank, balances can't be transferred to credit cards elsewhere. Is there any other way of doing this short of withdrawing my £300 a day cash machine limit from the credit card every day, paying it all in and paying it that way? I'm trying to avoid this because it's relatively expensive and a nuisance.

grumbler

theburningcat wrote: »

I have an American Express charge card. The balance of about £1800 is due in 5 days. I am not normally short of money but this month, my employer will probably pay me late (a separate problem entirely!) meaning that I won't have enough in my bank account to pay the balance off.

I'm trying to figure out a way of transferring the balance on to my credit card so that I can pay it off when things return to normal.

What difference will this make unless your "credit card" offers you much lower rate on BTs (after taking the BT fee into account)?

I called Amex and they said that since they are not a bank, balances can't be transferred to credit cards elsewhere.

This is nonsense, although I've heard of some people having problems with transferring balances from Amex.

Is there any other way of doing this short of withdrawing my £300 a day cash machine limit from the credit card every day, paying it all in and paying it that way?

Unless you have some BT offer from this card, this is no different from transferring the balance, just takes a little longer.
Without an offer a BT normally costs the same as a cash advance.

I hope you have made at least a minimum payment already.

theburningcat

The AmEx is a charge card so it HAS to be paid off in full each month.

The credit card's cash advance rate is about 30% but its balance transfer rate is about 15% (Santander 123). Withdrawing my cash machine limit every day for 5 days is also a nuisance and a bit suspicious.

Are you sure that balances can be transferred away from AmEx? I could give them another call to double check.

grumbler

Yes, I am sure about Amex CC. Just search the board for "transfer amex".

Balance transfer Amex to Santander

Not sure about chargecards.

ETA: Balance transfer from Amex to another cc?

zerog wrote: »

No problems with transferring from mine or other people's Amex charge cards to 0% BT cards.

theburningcat

Ah, great, thank you very much!