AMEX Loan

[Anonymous]

According to Credit Karma, I currently have about a 660 credit score and my util rate is roughly 67% (yes I know it is terrible)

I saw I am preapproved for an AMEX personal loan and I figured its one way to get my util rate back down and pay off CC debt at a lower APR.

My question is what are the chances I get the loan with these details?  If I am preapproved I am sure they know my credit score and util correct?  Anything else I should be aware of?

[AverageJoesCredit]

Wow, im blown away that Amex offered you a loan with a 660 Fico. Took me a year just to build up enough history with them to even get a preapproval. Do you have a long history with Amex? High income? My understanding is if you have an offer you should be approved but then again im on my first loan with them.

[JoeLuvsHisCredit]

---

@AverageJoesCredit wrote:
Wow, im blown away that Amex offered you a loan with a 660 Fico. Took me a year just to build up enough history with them to even get a preapproval. Do you have a long history with Amex? High income? My understanding is if you have an offer you should be approved but then again im on my first loan with them.

---

+100000000000000000000000000

[Anonymous]

I have had a card with them for about 2 yrs (amex everyday) and the gold card previous prg for almost a year.
Amex rep said same thing about normally if youre preapproved you should be good. After i wrote that amex said i had fico of 701 while credit karma, like mentioned before, was showing 660 on transunion/equifax

[AverageJoesCredit]

Lol, there you go, CK scores are vantage and they can be vastly different. Regardless of what anyone says, getting a loan from Amex was and is one of my favorite highlights on my rebuild. Not everyone can just apply for it . If it can help you i ssy go for it Good luck. Mine was painless and extremely fast

[joltdude]

There are folks on here who actually obtained an Amex product for said loans and offers...

[Anonymous]

---

@Anonymous wrote:
I have had a card with them for about 2 yrs (amex everyday) and the gold card previous prg for almost a year.
Amex rep said same thing about normally if youre preapproved you should be good. After i wrote that amex said i had fico of 701 while credit karma, like mentioned before, was showing 660 on transunion/equifax

---

Ignore your CK scores (VantageScore 3.0), barely any lenders cares or uses VS3.0 scores including Amex, the score of 701 is your true FICO8 score based on Experian Data, that is the score and credit agency Amex uses for lending decisions. CK reports are accurate for the most part and is very useful for report monitoring, scores CK provides on the other hand, throw them in the garbage disposal.

[Anonymous]

OP, did you apply for the loan?

[Anonymous]

What’s your income? Any derogitories on your credit report? Average age of history? # of recent inquiries? I would try to see if you could get your scores to at least 680 then check some prequalifications, but that’s just me. There’s so many variables going into the decision.