Wanted to post about this since I didn't see many post when I was looking. Went to the AMEX personal loan pre-approval page yesterday and saw that I was pre-approved for up to $24.3k at no more than 9.98%. Went ahead and applied because I want to pay off a higher APR loan. I received a message that they needed more time or info. Called in to check status and they just wanted to verify it was me. Instant approved for the $8.5k I asked for at 9.98% for 36 months. Crazy thing was I was approved and signed docs at 5pm EST and had the money in my bank account this morning (the next day). No HP or anything for the loan. I've been loving building my relationship with AMEX and very thankful for the info I've learned here.
In the garden since 5/30/17
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I assumed they did SP. My EXP is 693, TU 716, EQ 714 Inq: Probably 20 on each in last 24 months. New Accounts: Too Many, Been rebuilding Util: 5%
ABCD2199 wrote:Wow that's crazy fast!
No HP but I assume they soft pull from EX? What are your scores like, number of inquiries, new accounts, etc?
I didn't even realize Amex offered loans, but they are a bank, so naturally it would make sense that they'd do loans, too.
I just did this too with Amex. Got a pre approval on my account site. Logged in filled out the form online. No hard pull, no POI and money was in the bank the next day with the stated apr they said on the pre approval. It was the easiest thing I have ever done. This was my first personal loan. I had some home improvement things I wanted to do and the finance charge was less than taking out a project loan.
Amex told me to go to this site. https://www.americanexpress.com/us/personal-loans/ to check for pre approval. You can also try www.americanexpress.com/apl to see if you have an offer.
ABCD2199 wrote:Wow, that amazes me that Amex's credit card wing involves their personal loan wing, which I assume are totally different departments!
How long have you had your Amex account for? Was the offer literally on your account main page, or in a section off the main account page?
I have had my account a little over a year. I posted recently how they offered me a apr drop, personal loan and a CLI all in one week on the credit card board.
When I called Amex to ask about the offer I saw on my account they told me to go to www.americanexpress.com/apl to see if I still had the offer.
