American Express Personal Loan
in Personal Loans from American Express National Bank
Would you recommend American Express Personal Loan to your friends?
| Community Rating |
Rating not yet determined |
| Loan Amount | $3,500 - $40,000 |
| APR (Fixed APR) | 6.9% - 19.98% |
| Loan Term | 12 - 48 months |
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 is available in 50 states (and Washington, DC).
Key takeaways
- Good credit required. You will need a credit score of at least 700 to qualify for American Express Personal Loan.
- No origination fee. American Express Personal Loan does not charge a loan origination fee.
American Express Personal Loan Pros and Cons:
| Pros | Cons |
|---|---|
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What rates and terms does American Express Personal Loan offer?
American Express Personal Loan has lower interest rates than the average for lenders reviewed on SuperMoney.
What APR rate 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.
Your APR can vary depending on several factors, such as your credit score. Find out what your credit score is and whether there is any false or inaccurate information in your credit history with these credit monitoring tools.
How much can you borrow via American Express Personal Loan?
Loan amounts start at $3,500 and go up to $40,000.
What can a personal loan from American Express Personal Loan be used for?
Personal loans from American Express Personal Loan are typically used for special purchases or similar purposes.
What is the maximum loan term you can get with American Express Personal Loan?
American Express Personal Loan offers personal loans with terms ranging from 12 to 48 months. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.
| 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 loan origination fee.
A loan origination fee is what some lenders charge for processing, underwriting, and funding a loan. Typically fees range from 0.5% to 5% of the loan amount. Whenever possible, go with lenders that don’t charge origination fees.
Does American Express Personal Loan charge a late fee?
Yes, American Express Personal Loan may charge borrowers a late payment fee 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 loan off early.
| 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 are 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 are, of course, eligible for the services offered by American Express Personal Loan. Permanent resident / green card holders are also eligible to apply.
To qualify, applicants may need to provide the following documentation:
- Applicants must have an active and valid checking account
- Proof of income
- Government issued photo ID
- Proof of identity
| Minimum Age | 18 |
| Bank Account Required? | Yes |
| Application Types Accepted |
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| 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 personal loans within 5 business days of approval.
Does American Express Personal Loan report your account activity to credit bureaus?
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 can help improve your credit score.
Contact
- Headquarters
-
World Financial Center
200 Vesey Street
New York, NY 10285 USA - Visit Site
Other Services by American Express National Bank
Availability
- Alabama
- Alaska
- Arizona
- Arkansas
- California
- Colorado
- Connecticut
- Delaware
- Washington, DC
- 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
- West Virginia
- Wisconsin
- Wyoming
Feature Breakdown
| No Origination Fee | |
| No Prepayment Fee | |
| Origination Fee ($) | $0 |
| Origination Fee (%) | 0% |
| Late Fee Amount | Up to $39 |
American Express Personal Loan Community Reviews
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