American Express 2025 Personal Loan Review
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Our Take
4.0
American Express personal loans have competitive rates and fast funding, but they’re only available to preapproved cardholders.
Pros
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Competitive APRs.
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No origination fee.
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Next-day funding.
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Free credit score access.
Cons
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Exclusive to preapproved cardholders.
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No rate discount.
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No co-signed, joint or secured loan options.
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No direct payment to creditors with debt consolidation loans.
Lender | Est. APR | Loan amount | Min. credit score | |
|---|---|---|---|---|
 Check Rateson NerdWallet on NerdWallet | 8.99-
35.49% | $5,000-
$100,000 | None | Check Rateson NerdWallet on NerdWallet |
 Check Rateson NerdWallet on NerdWallet | 6.49-
24.89% | $5,000-
$100,000 | 660 | Check Rateson NerdWallet on NerdWallet |
 Check Rateson NerdWallet on NerdWallet | 7.90-
35.99% | $1,000-
$60,000 | 600 | Check Rateson NerdWallet on NerdWallet |
 Check Rateson NerdWallet on NerdWallet | 7.99-
35.99% | $1,000-
$50,000 | 600 | Check Rateson NerdWallet on NerdWallet |
 Check Rateson NerdWallet on NerdWallet | 6.99-
35.99% | $2,000-
$50,000 | 600 | Check Rateson NerdWallet on NerdWallet |
Full Review
American Express offers personal loans with relatively low rates and next-day funding to preapproved cardholders only.
Though these loans may be a convenient option for those who are preapproved, they lack some consumer-friendly features, like the ability to add a co-applicant or collateral to the loan or the opportunity to choose or change the monthly payment date.
Qualifying borrowers can use the loan funds in many ways; however, borrowers can’t use the money to pay down an American Express credit card.
American Express personal loans at a glance
Minimum credit score | None. |
APR | 6.99% - 19.99%. |
Fees |
|
Loan amount | $3,500 to $50,000. |
Repayment terms | 1 to 5 years. |
Time to fund after approval | 1 business day. |
Where American Express personal loans stand out
Competitive APRs: The annual percentage rates of American Express personal loans are some of the lowest among competitors. When comparing multiple loan offers, the one with the lowest APR will typically save you the most money.
No origination fee: American Express personal loans do not have an origination fee. These fees are more common among online lenders and typically range from 1% to 10% of the loan amount.
Next-day funding: American Express can disburse funds within one business day once you sign the loan documents.
Free credit score access: American Express offers MyCredit Guide, which shows your FICO credit score and Experian credit report for free, alerts you to potential identity theft and provides recommendations on how to help your credit. You can also use the tool to see how paying down debt will affect your score.
Where American Express personal loans fall short
Exclusive to preapproved cardholders: You must be an existing American Express cardholder in good standing to get a personal loan from this lender.
No rate discount: American Express doesn’t offer any discounts on the annual percentage rate. Some lenders let borrowers save a fraction of a percentage point off their APR for being an existing customer or by signing up for automatic payments.
No co-signed, joint or secured loan options: American Express offers only unsecured personal loans to individual borrowers. It doesn’t let you add a co-signer, apply with a co-borrower or secure the loan with collateral to potentially qualify for a lower rate or higher loan amount.
No direct payment to creditors with debt consolidation loans: If you use an American Express personal loan to consolidate your existing debt, the lender does not send funds directly to your creditors. Instead, you’re responsible for taking the loan proceeds and paying off each debt.
How to use American Express personal loans
You can use an American Express personal loan for:
Debt consolidation.
Credit card consolidation.
Home improvement projects.
Medical/dental expenses.
Emergencies.
Vacations.
Weddings.
Funerals.
Moving costs.
Other large purchases.
American Express prohibits the use of its personal loans for:
Higher education/college tuition.
Business expenses.
Investing.
Real estate.
Vehicle purchases (aside from a down payment).
Paying down the balance of American Express-issued credit cards.
Illegal activities.
Do you qualify for an American Express personal loan?
American Express personal loans are available nationwide to preapproved cardholders. According to the lender, preapproval is based on several factors, including creditworthiness.
American Express’ borrowing requirements
Must have an active American Express card.
Minimum credit score: None.
Must be a U.S. citizen or resident.
Must have a Social Security number of Individual Taxpayer Identification Number (ITIN).
Must have a valid U.S. bank account and email address.
» MORE: How to get a personal loan
How we rate American Express
NerdWallet writers and editors rate lenders against a rubric that changes each year based on how personal loan products evolve. Here’s how we scored American Express this year:
Category | Star rating |
|---|---|
Affordability | |
Customer experience | |
Underwriting and eligibility | |
Loan flexibility | |
Application process | |
Overall |
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