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American Express Personal Loan Overview
American express personal loans are available to pre-approved American Express Credit cardholders. American express offers personal loans with no origination fees or any pre-payment penalty. Most of the funds will be deposited into your bank account within 2 days.
The Loan amount American express offers is from $3,500 to $40,000. Borrowers have to choose the repayment term from one year to three years. However, American Express has some benefits and some cons also, which are discussed in the details in this review. So please read all the information carefully and then only go for the decision of taking a loan or not?
Pros
- Loan amount starting from $3,500-$40,000
- Soft Pull Credit check available.
- American Express offers no pre-payment panalty
- American Express offer direct payment to creditors with debt consolidation loans..{alertSuccess}
Cons
- American Express offers Exclusive to preapproved cardholders.
- No co-signed, joint or secured loan options.
- No option to choose or change your payment date. {alertError}
Can Be Used as Debt Consolidation Loan
American Express offers personal loans for many purposes such as debt consolidation, home improvements, and big purchases. So if you are looking for a big loan amount then American Express can be the best option for you.
Annual Interest Rate and Fees
American Express has an APR of 4.93-19.97%, which is very less compared to other lenders in the market. The APR mostly depends upon your credit score and your creditworthiness. Although there are some factors that also decide your APR, they vary from lender to lender.
- American Express does not charge any origination fees.
- At American Express you don’t have to pay pre-penalty for early payoff.
- American Express do charges a late fee.
Minimum Credit Score Required
Offered Loan Amount
Eligibility Criteria
Required Documents
- Valid Identity Proof, VISA.
- Have to provide a DOB.
- Valid Social Security Number
- Valid current mobile number and Email id.
- An active American bank account.
Repayments Terms
Example of the American Express loan
Apply for American Express :
Who is this loan good for
- For those who already have an American Express Credit card.
- Those who want instant funding.
- People who want a personal loan without any fees.
Editorial Note: MakeHelpOf does not receive any commission from any website or third-party advertisers. This is just a review article based on consumers’ experiences from the internet. It’s accurate to the best of our knowledge when it’s posted. Please read all the information carefully before you make any decision. {alertInfo}