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American Express Personal Loans review

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Current card holders can take advantage of minimal fees — but watch out for that high maximum APR.’s rating: 3.3 / 5.0


  • Best for current Amex card holders.
  • Pick something else if you're looking for a lender with a low maximum APR.


Max. Loan Amount

6.98% to 18.97%



Min. Credit Score


Product NameAmerican Express Personal Loans
Min. Loan Amount$3,500
Max. Loan Amount$40,000
APR6.98% to 18.97%
Interest Rate TypeFixed
Min. Credit Score660
Minimum Loan Term1 year
Maximum Loan Term3 years

Expert review

Kellye Guinan

Review by

Kellye Guinan is a writer and editor with Finder and has years of experience in academic writing and research. Between her passion for books and her love of language, she works on creating stories and volunteering her time on worthy causes. She lives in the woods and likes to find new bug friends in between reading just a little too much nonfiction.

Expert review

You won’t be able to take out a personal loan from American Express unless you receive a preapproval offer. And the only way to receive that is if you’re an Amex credit card holder and meet other eligibility requirements.

Even if you do, its rates start and end on the high side for such a large bank. And it doesn’t offer terms as long as other lenders do.

Compare your other personal loan options before committing to make sure you’re getting the best deal available to you.

Am I eligible?

You need to meet a few eligibility criteria to qualify for a personal loan from American Express:

  • American Express credit card holder with an online account
  • US citizen or permanent resident
  • At least 18 years old

In addition, American Express will verify your address and checking account in order to deposit an electronic check.


  • Automatically receive an offer if preapproved
  • Informative loan calculator on its website
  • Minimal fees


  • Only available to Amex card holders
  • Must have fair to excellent credit
  • Limited loan terms available

Compare more personal loan options

Updated February 27th, 2020
Name Product Filter Values APR Min. Credit Score Max. Loan Amount
Credible Personal Loans
3.99% to 35.99%
Fair to excellent credit
Get personalized rates in minutes and then choose an offer from a selection of top online lenders.
Fiona Personal Loans
3.84% to 35.99%
Good to excellent credit
Get loan offers from multiple lenders at once without affecting your credit score.
LendingClub Personal Loan
6.95% to 35.89%
A peer-to-peer lender offering fair rates based on your credit score.
Monevo Personal Loans
3.49% to 35.99%
Quickly compare multiple online lenders with competitive rates depending on your credit.
Even Financial Personal Loans
3.84% to 35.99%
Get connected to competitive loan offers instantly from top online consumer lenders.

Compare up to 4 providers

What do customers say about American Express?

BBB accreditedYes
BBB ratingA+
BBB customer reviews1.5 out of 5 stars, based on 176 customer reviews
Trustpilot score2.1 out of 5 stars, based on 617 customer reviews
Customer reviews verified as of28 October 2019
Because American Express has only recently started offering personal loans, there are very few reviews left on consumer reporting websites. However, cardholders have spoken about problems with customer service — so keep this in mind if you plan on borrowing.

How does credit card debt consolidation work through Amex?

American Express extends loan offers to people looking to consolidate their credit card debt. We’ve outlined the process to make it easier for you to compare credit card consolidation loans. Here’s how it works:

  1. Apply for a personal loan through American Express.
  2. Select up to four non-American Express credit card accounts.
  3. Request at least $1,000 for each account.
  4. Reach the minimum loan amount of $3,500 or the maximum amount you’re offered.
  5. Submit your application for approval.

If you’re approved, the funds from your personal loan are applied directly to your accounts. American Express pays your creditors, reducing the stress of paying down each individual account. However, it may not be able to send payments to the credit card company if the company can’t accept electronic transfers or if you’ve entered incorrect information about your cards. If this happens, your loan amount will be reduced and American Express won’t charge you interest on the failed payments.

Consolidating with Amex won’t necessarily reduce the amount you owe — that depends on interest and your monthly payment — but it can make it easier to handle a large amount of debt.

How do I apply?

If you’ve received your preapproval offer and want to apply, visit the Amex website and sign into your existing Amex account. Navigate to the personal loans offer page to start the application process. You can request loan funds up to your preapproved amount and select your preferred monthly payment option. Agree to receive electronic communications, and if you’re approved, you can review the terms of your loan before signing the contract.

American Express requires you to state the purpose of your loan. If you choose to consolidate your credit card debt, you’ll need to provide up to four credit card accounts and the amount you wish to pay toward each. Otherwise, supply your checking account numbers so your funds can be deposited into your bank account.

What information do I need to apply?

When you’re ready to apply, have the following information ready:

  • Employment details and income
  • Social Security number
  • Contact details

American Express may also require additional documents if you apply for debt consolidation.

What happens after I apply?

If you’re approved for a loan, you’ll have three days to review and agree to the terms offered by American Express. It then takes another three to five business days for your loan funds to be deposited into your bank account or sent to your credit card accounts. However, if consolidating your credit card debt, it may take longer for your bank or credit card company to process the payment and make it available to you.

How do repayments work with American Express?

You can choose to make your monthly repayments by bank account transfer or check, and American Express also allows you to set up automatic payments. If you make a late payment, you’ll be charged a $39 fee — and American Express may report it to the major credit bureaus.

Once you repay your loan, you won’t be able to borrow again for at least 60 days and will need a new preapproval offer to apply again.

Not sure American Express is right for you? Compare even more lenders with our guide to personal loans.

Frequently asked questions

Personal loan ratings

★★★★★ — Excellent

★★★★★ — Good

★★★★★ — Average

★★★★★ — Subpar

★★★★★ — Poor

We analyze top personal loan providers and rate them one to five stars based on factors that are most important to you. These factors include: rates and fees, customer reviews, loan amounts, loan processing and borrower experience.

Read the full methodology of how we rate personal loan providers.

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  1. Default Gravatar
    October 15, 2018

    I am a personal loan with Amex. I am trying to make a payment, but I don’t have a website separate from my Amex card website. I cannot access the personal loan a/c from the card a/c. What is the website I should use to make an online payment? Thanks. Darryl

    • Default Gravatar
      October 15, 2018

      Hi Darryl,

      Thanks for leaving a question on finder.

      You can access information about your loan, including the outstanding balance due, monthly payment amounts, payment due dates, and prior payments and credits, through your American Express online account. If you are having issues accessing it, you can contact AMEX directly at 1-800-528-4800.

      Please send me a message if you need anything else. :)


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