Disclosures
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Am I eligible to apply for a Personal Loan?
American Express Personal Loans are available to eligible Card Members. You can only apply if you receive an offer to apply and continue to meet the eligibility requirements. You must be 18 years or older, a U.S. citizen or resident of the U.S. or its territories, and have an active American Express Consumer Card.Is there anything I can’t use my loan for?
Personal Loans may not be used for post-secondary education expenses, real estate, business, securities, vehicle purchases (other than as down payment for a vehicle), to pay down balances on American Express-issued Cards or any purpose prohibited by law or not otherwise permitted by the Terms and Conditions or your Personal Loan agreement.How will I receive my Personal Loan funds?
Funds will be deposited directly into your bank account on file. If you don’t have an existing bank account on file with us, you’ll be prompted to add the routing and account numbers of your bank account. If we are unable to verify your bank account for any reason, we will not be able to send any loan funds to you and your Personal Loan agreement will be void and unenforceable.How quickly will I receive my loan funds?
We will send your loan funds to your bank account on file in as fast as 1 day after you’ve signed your Personal Loan agreement and completed all necessary verification steps. It’s important to know that your bank may take additional time to post your loan funds to your account. If any loan funds do not post to your bank within two weeks, please contact us or your bank.How much do I have to pay each month?
Personal Loans are payable in fixed monthly installments. The amount of your monthly payment will depend on the amount you borrow, the repayment period you select, and the total interest charged on your Personal Loan (based on the interest rate that applies).How long will I have to pay off my Personal Loan?
On your application, you can choose your repayment period from the options shown. Keep in mind that a longer repayment period may result in a lower monthly payment, but more total interest than if you choose a shorter repayment period for the same loan amount.1You must be an eligible Basic Card Member to apply for a Personal Loan. Your offer is based on your creditworthiness and other eligibility factors at the time you check for an offer. Offer availability is subject to change. Not all Card Members will be eligible for the lowest APR, the highest loan amount, or the same repayment period options. The APR may change based on the selected repayment period. You must submit an application to apply for a loan.
- 2Amex will send your loan funds to your bank account in as fast as 1 day after you’ve signed your Personal Loan agreement and completed all necessary verification steps. Please note that your bank may take additional time to post your loan funds to your account.
- 3Consolidating multiple credit card balances into a single monthly payment may not reduce or pay off your debt sooner in all cases. If the monthly payment on your American Express Personal Loan is lower than the combined minimum due on the cards you are consolidating, it may be due to a lower interest rate on your loan, a longer loan period, or a combination of both. American Express Personal Loans cannot be used to pay down or consolidate balances on American Express issued credit cards.