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AMEX Personal Loan Approved

Regular Contributor

AMEX Personal Loan Approved

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
Starting scores: 538 EQ, 552 TU, 520 EX Current scores (10/09/17): 730 EQ 724 TU 693 EX
16 REPLIES
Community Leader
Super Contributor

Re: AMEX Personal Loan Approved

Outstanding! Good work. It sounds like it was worth leaving the garden for such a good deal.


Daily Drivers: Penfed Platinum Rewards; NFCU GoRewards; Discover; NASA Platinum Cash Rewards. EQ: 763 TU: 737 EX: 787
Valued Contributor

Re: AMEX Personal Loan Approved

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.

FICO8FICO8Visit:
03/1710/17My 11
Rules to
Credit
Rebuilding
550EX
570TU
559EQ
710EX
699TU
734EQ
Regular Contributor

Re: AMEX Personal Loan Approved


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 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%

In the garden since 5/30/17
Starting scores: 538 EQ, 552 TU, 520 EX Current scores (10/09/17): 730 EQ 724 TU 693 EX
Regular Contributor

Re: AMEX Personal Loan Approved

Congrats. Good rate. I'd be interested in seeing an offer but I guess they randomly select based on your profile. I'm at a 724EX and have several accounts with them... Maybe in time one will pop up.

10/4/17 EQ-729 TU-746 EX-719 From $900 available credit to $99,200 in 9 months. It's been a fun ...
Regular Contributor

Re: AMEX Personal Loan Approved

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.

Valued Contributor

Re: AMEX Personal Loan Approved

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?

FICO8FICO8Visit:
03/1710/17My 11
Rules to
Credit
Rebuilding
550EX
570TU
559EQ
710EX
699TU
734EQ
Regular Contributor

Re: AMEX Personal Loan Approved

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.

Regular Contributor

Re: AMEX Personal Loan Approved


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.

Regular Contributor

Re: AMEX Personal Loan Approved

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.