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  American Express Personal Loan
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 0  

SUPERMONEY NET RECOMMENDATION SCORE

This product is mostly not recommended by SuperMoney users with a score of 0, equating to 3 on a 5 point rating scale.

0

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.

Mostly recommended

2 users recommend
2 users are unsure
2 users don't recommend
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Highlights
Community Rating Mostly recommended
APR 6.9% - 19.98%
Loan Amount $3,500 - $40,000
Loan Term (Months) 12 - 48 months
Number of Reviews 6

American Express Personal Loan Review

American Express Personal Loan is offered by American Express National Bank, founded in 1850 and based in New York, NY. American Express Personal Loan is available in 51 states across the USA.

Key Takeaways
  • 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 personal loan product that ranges from 6.9% APR up to 19.98% APR.

How much can you borrow via American Express Personal Loan?

Business 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.

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. APRs for the American Express Personal Loan product fall outside of the MLA limits, and as a result, the product cannot be issued to these applicants. Active duty service members and their covered dependents are considered “covered borrowers" under the Military Lending Act.

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

  • Applicants must have an active and valid personal checking account
American Express Personal Loan Eligibility Criteria
Minimum Age 18
Bank Account Required? Yes
Application Types Accepted
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:

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.

Is American Express Personal Loan a legit company?

American Express Personal Loan was founded in 1850, it is a well-established company that has been in business for 172 years. American Express Personal Loan are mostly recommended by SuperMoney community users.

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

Feature Breakdown

No Origination Fee
No Prepayment Fee
Origination Fee ($) $0
Origination Fee (%) 0%
Late Fee Amount Up to $39
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-Approved Soft Credit Inquiry
Loan Amount $3,500 - $40,000
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 not recommended by SuperMoney users with a score of 0, equating to 3 on a 5 point rating scale.

0

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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