Comments on: American Express Halts Low Rate Balance Transfers

By: Balance Transfers Helper

Balance Transfers Helper — Fri, 01 Oct 2010 15:53:45 +0000

American Express basically shut down 0 balance transfer deals as soon as the credit crunch began. They still have some balance transfer offers, but many have APRs of 9.99% and carry 3% fees. I think American Express will continue to stay out of the balance transfer game for the forseeable future.

By: Bal Xfer Shopper

Bal Xfer Shopper — Fri, 01 Oct 2010 05:19:08 +0000

“It’s not just you.” As an Amex customer for a few years, I have all clean credit files with low utilization and a 29,000 limit on Amex Blue. I have not received a balance transfer offer since the “meltdown.” I have been disappointed with Amex, whom I boycotted for years. The card’s value is lessened without a balance transfer option.

By: Balance Transfers Helper

Balance Transfers Helper — Wed, 11 Aug 2010 16:09:32 +0000

Brian, In earnings conferences and simply by judging their current offers, the American Express company line seems to be that they are avoiding this type of consumer lending and focusing on customers who use credit cards like charge cards. I would definitely look for a different company to find a balance transfer offer. Most other credit card companies have resumed offering 0% APR balance transfers.

By: Brian Kobilke

Brian Kobilke — Mon, 09 Aug 2010 16:31:21 +0000

I’ve had an American Express Airmiles credit card for many years. Before the 2008/2009 financial meltdown, I used to get balance transfer offers on a fairly regular basis. Since the meltdown, Americal Express has refused to do ANY balance transfers. I keep getting told that they have put a freeze on balance transfers for existing customers, and that balance transfers are offered to new customers only. As of August 2010, I am still not able to do a balance transfer to my AMEX card. They must be really hurting.