If I transfer a balance to Blue Cash Preferred Card from American Express, do I have to pay it off immediately?

Questions, reviews and discussions about the Blue Cash Preferred Card from American Express
Ralph

If I transfer a balance to Blue Cash Preferred Card from American Express, do I have to pay it off immediately?

Postby Ralph » Sat Jan 02, 2016 10:52 am

Must balance transfers be completely paid by the end of each month? I have roughly 7k to transfer and I am looking to take advantage of all the zero interest for 12 month to pay it off.

jocelynadvisor
Posts: 390
Joined: Fri Oct 18, 2013 9:19 am

Re: If I transfer a balance to Blue Cash Preferred Card from American Express, do I have to pay it off immediately?

Postby jocelynadvisor » Tue Mar 28, 2017 3:47 pm

When you transfer a balance from an existing credit card to Blue Cash Preferred Card from American Express, you will have 12 months of 0% intro APR on that amount. This means, during those 12 months, you won't accrue any interest on the transferred balance. It's in your best interest to try and pay off your transferred balance before the 12 months is up, because after that, whatever amount is left will begin accruing interest. You are not required to pay any amount on your Blue Cash Preferred Card from American Express each month other than your minimum payment due, though it's certainly wise to try and pay as much as you can.

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