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  American Express Personal Loan

Best Of Product

American Express Personal Loan
in Personal Loans from American Express National Bank
Claimed

American Express Personal Loan

Claimed
in Personal Loans from American Express National Bank
SuperMoney Net Recommendation Score +40  

SUPERMONEY NET RECOMMENDATION SCORE

This product is mostly recommended by SuperMoney users with a score of +40, equating to 3.8 on a 5 point rating scale.

+40

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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Highlights
Community Rating Mostly recommended
APR  (Fixed APR) 6.9% - 19.98%
Loan Amount $3,500 - $40,000
Loan Term (Months) 12 - 48 months
Number of Reviews 10

American Express Personal Loan Review

American Express Personal Loan is offered by American Express National Bank, a bank founded in 1850 and based in New York, NY. American Express Personal Loan are available in 50 states (and Washington, DC).

Key Takeaways

  • APRs starting at 6.9%. Personal loan interest rates typically range between 5% and 36%. The starting rates for American Express Personal Loan are on the lower end of the spectrum.
  • Prequalified rate. You can check your prequalified rate at American Express National Bank with a soft pull that will not affect your credit score.
  • No origination fee. American Express Personal Loan does not charge a loan origination fee.

American Express Personal Loan Pros & Cons

Pros Cons
  • Low APRs available to qualified borrowers.
  • $0 prepayment fee.
  • Loan options with $0 origination fee.
  • Only considers applicants with good credit.
  • Charges a late fee of up to $39.

American Express Personal Loan FAQ

What interest rates and personal loan terms does American Express Personal Loan offer?

American Express Personal Loan has lower than average interest rates for lenders reviewed on SuperMoney.

What interest rates does American Express Personal Loan offer?

American Express Personal Loan offers a fixed APR personal loan product that ranges from 6.9% APR up to 19.98% APR.

How much can you borrow via American Express Personal Loan?

Personal loan amounts start at $3,500 and go up to $40,000.

What is the maximum loan term you can get with American Express Personal Loan?

American Express Personal Loan offers loans with terms of up to 48 months.

American Express Personal Loan Interest Rates & Loan Terms
Personal Loan Amount $3500 - $40000
Loan Term 12 - 48 months
APR 6.9% - 19.98%

What fees does American Express Personal Loan charge?

Does American Express Personal Loan charge an origination fee?

American Express Personal Loan does not charge a personal loan origination fee.

A personal loan origination fee is what some lenders charge for processing, underwriting, and funding a personal loan. Typically origination fees range from 0.5% to 5% of the personal loan amount. Whenever possible, go with lenders that don’t charge origination fees.

Does American Express Personal Loan charge a late fee?

No, American Express Personal Loan will not charge you a late fee if you miss one of the monthly payments of up to $39.

Does American Express Personal Loan charge prepayment fees?

No, American Express Personal Loan does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the personal loan off early.

American Express Personal Loan Fees
Origination Fee 0%
Prepayment Fee No
Late Payment Fee up to $39

What do you need to qualify for American Express Personal Loan?

Applicants with a credit score of at least 700 and up to 850 may be eligible for American Express Personal Loan. The minimum age to be eligible is 18 or the state minimum, whichever is higher.

American Express Personal Loan does not have or does not disclose a minimum annual income eligibility requirement. American Express Personal Loan only considers borrowers who are employed.

The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. Active duty service members and their covered dependents are eligible to apply for a loan via American Express Personal Loan. Their rates fall within the limits of The Military Lending Act.

U.S. citizens and permanent resident / green card holders are eligible to apply for the services offered by American Express Personal Loan.

To qualify, applicants may need to provide the following documentation:

  • Applicants must have an active and valid personal checking account
  • Proof of income
  • Government issued photo ID
  • Proof of identity
American Express Personal Loan Eligibility Criteria
Minimum Age 18
Bank Account Required? Yes
Application Types Accepted
  • Individual Applications
  • Credit Score 700 - 850

    What is the estimated funding time for a personal loan via American Express Personal Loan?

    American Express Personal Loan will typically approve (or deny) a loan application within 1 hour and fund loans within 5 business days of approval.

    Does American Express Personal Loan report your account activity to credit bureaus?

    Yes, American Express Personal Loan reports your account activity to the following credit reporting agencies:

    • Equifax
    • Experian
    • Transunion

    Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.

    Are American Express Personal Loan legit?

    American Express National Bank was founded in 1850, it is a well-established company that has been in business for 173 years. Based on their "mostly recommended" SuperMoney community rating, they seem to be a reputable company.

    American Express Personal Loan Disclosure: You must be the basic Card Member on an eligible Consumer American Express Card, and be in good status with American Express at the time of application.
    SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
    Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

    Contact

    Hours of Operation

    • Sunday 7:00am - 12:00pm
    • Monday 7:00am - 12:00pm
    • Tuesday 7:00am - 12:00pm
    • Wednesday 7:00am - 12:00pm
    • Thursday 7:00am - 12:00pm
    • Friday 7:00am - 12:00pm
    • Saturday 7:00am - 12:00pm

    Other Services by American Express National Bank

    Availability

      Available in 50 states and Washington, D.C.
    • Alabama
    • Alaska
    • Arizona
    • Arkansas
    • California
    • Colorado
    • Connecticut
    • Delaware
    • Florida
    • Georgia
    • Hawaii
    • Idaho
    • Illinois
    • Indiana
    • Iowa
    • Kansas
    • Kentucky
    • Louisiana
    • Maine
    • Maryland
    • Massachusetts
    • Michigan
    • Minnesota
    • Mississippi
    • Missouri
    • Montana
    • Nebraska
    • Nevada
    • New Hampshire
    • New Jersey
    • New Mexico
    • New York
    • North Carolina
    • North Dakota
    • Ohio
    • Oklahoma
    • Oregon
    • Pennsylvania
    • Rhode Island
    • South Carolina
    • South Dakota
    • Tennessee
    • Texas
    • Utah
    • Vermont
    • Virginia
    • Washington
    • Washington, DC
    • West Virginia
    • Wisconsin
    • Wyoming

    Feature Breakdown

    Late Fee Amount Up to $39
    No Origination Fee
    No Prepayment Fee
    Origination Fee ($) $0
    Origination Fee (%) 0%
    Checking Account Required
    Employment Statuses Considered
    • Other
    • Employed Full-Time
    • Employed Part-Time
    • Self-Employed
    • Retired
    Immigration Status Considered
    • U.S. Citizen
    • U.S. Permanent Resident
    Joint Loan Applications Accepted
    • Individual Applications
    Military Status
    • Active Duty Military
    • Non-Military
    • Veterans
    • Military Dependent
    Minimum Age 18
    Verification Documents Required
    • Proof of Income
    • Proof of Identity
    • Government Issued Photo ID
    Credit Score Range 700 - 850
    Approval Speed 1 hour
    Credit Bureau Reporting
    • Experian
    • Equifax
    • TransUnion
    Funding Time Range 3 - 5 days
    Payment Options
    • Automatic Payments
    • Check by mail
    Pre-Qualified Soft Credit Inquiry
    APR Type Fixed APR
    Loan Amount $3,500 - $40,000
    APR (Fixed APR) 6.9% - 19.98%
    Loan Term 12 - 48 months

    American Express Personal Loan Community Reviews

     

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    SUPERMONEY NET RECOMMENDATION SCORE

    This product is mostly recommended by SuperMoney users with a score of +40, equating to 3.8 on a 5 point rating scale.

    +40

    Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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