Streamline your Credit Cards,
simplify your payments.
The easy way to take charge of your Card balances
A balance transfer is when you move an existing Credit Card balance onto another Credit Card. If you have a high interest Credit Card balance you’d like to pay off, a balance transfer to another Credit Card with a lower interest rate can help you keep on top of your payments.
Why choose a balance transfer?
How does an American Express balance transfer work?
When you apply for an American Express Credit Card, you can also apply for a balance transfer1 . You can select an existing balance from a non-American Express credit card account and transfer up to 70% of your approved credit limit, or a maximum of $10,000, whichever is less.
If your request for a balance transfer is approved, an establishment fee of up to 3% (depending on your chosen Card) will be applied to the balance that is transferred. Plus, you’ll pay 0% p.a. on the total balance transfer amount for the first 12 months following your balance transfer approval.
Please note, if you choose to pay your balance transfer amount over time, an interest-free period will not apply to your new purchases until the balance transfer is paid off. We also encourage you to review and consider cancelling the card(s) you’re paying with a balance transfer.
How long will my balance transfer take?
Provided your balance transfer request adheres to the Terms and Conditions, we’ll start the approval process 72 hours after your American Express Credit Card application is approved. If we approve your balance transfer application, we’ll debit your American Express Credit Card and send a payment to the card issuer of your designated Credit Card. Payments will normally be completed within 10 working days.
Do my Credit Card payments go towards my balance transfer first?
When you make payments to your Credit Card, these will be applied according to the payment allocation outlined in the American Express Credit Card Conditions, which generally apply payments to billed amounts with the highest interest rate first.
0% p.a. on balance transfers for the first 12 months1 - A one-off establishment fee of 3% applies.
No annual Card fee
Pay for your Smartphone or contract with your Card and get up to $500 for screen repairs2
0% p.a. on balance transfers for the first 12 months1- A one-off establishment fee of 1% applies.
A complimentary Virgin Australia return Economy domestic flight after your first Card spend each year3
2 complimentary Virgin Australia lounge passes4
0% p.a. on balance transfers for the first 12 months1- A one-off establishment fee of 1% applies.
$450 Qantas Travel Credit each year5
2 Qantas Club lounge invitations each year after your first spend on selected Qantas products and services6
Get the lowdown on Card limits, interest rates, fees and the benefits of travelling outside of Australia with your American Express Card.
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Choose the Card with benefits that best suit you.
Rewards
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Frequent Flyer
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Platinum
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No Annual Fee
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As an American Express Card Member, you get to enjoy travel benefits that take you further, points that are more rewarding and services that open more doors around the world.
1. Balance Transfer. Offer not available for Card Members who currently hold or who have previously held any other Card product offered by American Express Australia Limited in the preceding 60 day period. Balances may not be transferred from another Credit Card issued by American Express Australia Limited. The promotional balance transfer rate will be eligible for 12 months from the date the balance transfer is approved, after which any remaining balance will revert to the standard rate of interest at that time. The credit plan establishment fee attracts the standard rate of interest. Interest free days do not apply to Balance Transfer balances, and you may be charged interest on other purchases and fees if you do not pay your Closing Balance (including any outstanding balance transfers), in full by the due date each month. If you pay your balance transfer over time, an interest-free period will not apply to your purchases until the balance transfer is paid off. We reserve the right to withdraw this offer if your account is not in good standing or we become aware of any adverse credit information. Click here for full balance transfer Terms and Conditions. Click here for Essential Card Balance Transfer Terms and Conditions.
2. Smartphone Screen Insurance. Insurance cover is underwritten by Chubb Insurance Australia Limited (ABN 23 001 642 020, AFSL No. 239687) (Chubb) and is subject to the terms, conditions and exclusions contained in the American Express Essential Credit Card Insurances policy between American Express and Chubb available here. For Smartphone Screen Insurance, maximum of 2 claims per 12 month period, maximum cover of $500 per claim and an excess of 10% of the claimed amount applies.
3. Virgin Complimentary Flight. The complimentary domestic economy Virgin Australia return flight is only available between selected Australian cities and is available for booking by American Express Velocity Platinum Card Members after your first Card spend in the first year, and then after your first Card spend each year after the anniversary of your Membership. All flights are subject to availability and neither Virgin Australia nor American Express guarantees that seats or tickets will be available on the dates or at the times you may wish to fly. Seat availability may be limited to certain dates and/or flights and it may be more difficult to book seats around public holidays, school holidays or special events. Some flights may not have any seats available for redemption. Route availability is subject to change without notice. All travel is subject to the American Express Velocity Platinum Card Benefits Terms and Conditions available here and travel is subject to Virgin Australia Conditions of Carriage available at virginaustralia.com
4. Virgin Australia Lounge. Virgin Australia lounge entry passes are subject to the American Express Velocity Platinum Card Benefits Terms and Conditions available here. Two Single Entry passes to the Virgin Australia lounge will be activated on the Card Member's Velocity membership card annually on or after each annual Card fee renewal date. Single Entry passes are valid for 12 months from the date of issue. The Virgin Australia lounge is operated by Virgin Australia Airlines Pty Ltd in selected domestic airports and entry is subject to the Virgin Australia lounge Terms and Conditions, available here and as amended from time to time.
5. Qantas Travel Credit. To receive the Qantas Travel Credit, you must have paid the annual Card fee and minimum payment by the due date. The $450 Qantas Travel Credit can be redeemed for any eligible Qantas flight booked (i.e. a QF flight number on your ticket) and paid online through American Express Travel in a single booking. All travel is subject to Qantas Conditions of Carriage. The Travel Credit can be used for 365 days from the anniversary date and cannot be carried forward to any subsequent year. For bookings less than $450 any unused portion of the Qantas Travel Credit will be forfeited. The Qantas Travel Credit will be available each year of Card Membership, as long as you have paid the annual fee and your account is current and in good standing. Subject to Qantas Travel Credit, Terms and Conditions.
6. Qantas Ultimate Club Lounge. Provided you are a Qantas Frequent Flyer and have registered your Qantas Frequent Flyer number with your Qantas American Express Ultimate Card, you are eligible to receive two Qantas Club Lounge Invitations each anniversary year of your Card Membership after purchasing on selected Qantas products and services using your Qantas American Express Ultimate Card. Selected Qantas products and services are Qantas passenger flights with a QF flight number purchased directly from Qantas.com.au; Qantas Frequent Flyer and Qantas Club membership joining and/or annual fees. Subject to Qantas American Express Card Points Terms and Conditions. Subject to the Qantas American Express Card Points Terms and Conditions. Within 1-2 weeks of purchasing selected Qantas products and services, two Qantas Club Lounge Invitations will be assigned to your Qantas Frequent Flyer account. Visit the Complimentary Invitations Portal to access your invitation, link it with an eligible Qantas flight booking or find out more information. Qantas Club Lounge Invitations are valid for a single visit by one guest to a Qantas Club Lounge and must be used prior to their expiry. Invitations are subject to the Qantas Club Terms and Conditions and are not valid for Qantas International First Class Lounges, the Qantas Chairman’s Lounge, Qantas Domestic Business and or oneworld® alliance partner or associated lounges. Qantas Club Invitations cannot be carried forward to any subsequent year and must not be sold, they may only be transferred as allowed by Qantas. Invitations may be revoked or withheld if your Qantas American Express Ultimate Card account is not in good standing, if the selected Qantas products and services are refunded in full or if you have not complied with these Qantas Club Invitation Conditions, the Credit Card Terms and Conditions or the Qantas Club Lounge Access Terms and Conditions..
