American Express Personal Loans: If you’re looking for a personal loan, American Express offers loans ranging from $3,500 to $40,000 to eligible Card Members. In this article, we’ll cover everything you need to know about American Express Personal Loans, including eligibility requirements, application process, loan terms, and more.
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Summary Of The American Express Personal Loans
American Express Personal Loans are unsecured loans that can be used for personal, family, or household purposes, such as consolidating credit card debt or making home improvements. These loans are only available to pre-approved American Express Card Members who meet certain eligibility requirements.
Eligibility Requirements
To qualify for an American Express Personal Loan, you must be at least 18 years old, a U.S. citizen or resident of the U.S. or its territories, and have an active American Express Consumer Card. You must also have a credit score of 660 or higher and enough income to make the monthly payments. Keep in mind that even if you meet all the requirements, you still may not get approved.
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Application Process
You can apply for an American Express Personal Loan online or by phone. To apply online, simply log in to your American Express account to check your eligibility. Before you apply, American Express will let you know the maximum amount you can borrow, the maximum annual percentage rate(s) (APR), and your repayment period options. To apply by phone, call 1-844-273-1384.
Loan Terms
American Express Personal Loans have fixed interest rates, which means predictable payments. There are no origination fees or pre-payment penalties. However, American Express will charge a $39 fee for any month that they receive your payment after the due date listed on your invoice or if you make any payment that is returned due to insufficient funds. Loan terms range from 12 to 48 months.
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American express loan business: the Good Side
Like i said, American Express offers a variety of business loans to eligible small business owners. In this article, we’ll cover everything you need to know about American Express Business Loans, including eligibility requirements, application process, loan terms, fees, and more.
People Also Ask
- How much can I borrow with an American Express Personal Loan? American Express Personal Loans range from $3,500 to $40,000.
- How long does it take to get a decision on my loan application? The preapproval process for an American Express Personal Loan is quick, and Amex says it takes a matter of seconds to get a decision.
- Does American Express Personal Loan report your account activity to credit bureaus? Yes, American Express Personal Loan reports your account activity to Equifax, Experian, and Transunion.
- Can I pay off my American Express Personal Loan early? Yes, there are no pre-payment penalties if you decide to pay your Personal Loan off early.
Conclusion
American Express Personal Loans are a convenient choice for pre-approved cardholders who need to borrow money for personal expenses. However, keep in mind that these loans are only available to eligible Card Members who meet certain requirements. If you’re interested in applying for an American Express Personal Loan, log in to your American Express account to check your eligibility and apply online or by phone.