American Express Personal Loan Terms & Conditions Guide
This guide explains the key terms and requirements for American Express Personal Loans, including eligibility, use restrictions, and pre-approval details. It helps borrowers understand the process and conditions before applying, ensuring transparency and informed decisions.
Understanding the Terms and Conditions of American Express Personal Loans
Before applying for an American Express personal loan, it's important to familiarize yourself with their specific rules and requirements. Here are key points to consider:
Overview: American Express Personal Loans are issued directly by American Express Bank, FSB. Unlike their credit or charge cards, these loans do not come with rewards, benefits, or insurance coverage. All collected data will be handled according to their Privacy Policy.
Qualification Criteria: To qualify, you must have a pre-approved loan offer, including the displayed amount and APR.
Applicants must be at least 18 years old and reside in the U.S. or its territories. You need to be an active American Express Basic Cardholder with a consumer account and an online profile. All application details and documents must be accurate and truthful.
Personal loans cannot be used for higher education costs, real estate, investments, vehicle purchases, or other prohibited uses outlined in the agreement.
The lender reserves the right to verify your identity and financial details, including bank and card information. They trust that submitted documents are authentic and complete.
Pre-Approval Details: Your offered APR and loan amount depend on your credit status and other criteria at the time of pre-approval. The maximum APR indicated is the highest possible rate for your requested amount. Actual rates may vary based on the loan size.
After receiving a pre-approved offer, you need to complete an application for final eligibility assessment. Any adjustments to your application will be considered.
