Is the loan amount based on my credit score?

Your credit score will play a role, but it's not the only information Amex uses to determine how much you can borrow, your rate and your repayment period.

How many loans can I have out at once?

You're limited to one personal loan or business loan from Amex at a time. In addition, American Express requires that you wait at least 60 days between loans. And you must also have another preapproval offer. This 60-day waiting period applies to people who have finished paying off a previous loan, have been declined for a loan or have decided not to take out a loan after receiving a loan agreement. Must read: What to know before you take out multiple personal loans

Can I receive my loan funds as a check?

No. Amex only issues personal loans electronically, either by depositing the funds directly into your checking account or by sending loan funds to your credit card accounts.

What happens if my credit card company doesn't accept electronic payments?

If your credit company doesn't accept electronic payments, American Express will cancel that portion of the loan amount and you won't be charged interest on the failed payments. This also applies to situations where you enter the wrong information for a credit card.