American Express BCE plus personal loan pre-approval

[Gollum]

I have an American Express BCE and American Express says I'm pre-approved for a non-secured Personal Loan of $25,000 for 36 months at 5.98%. I have no intention of accepting the offer, but I thought the "data point" might be interesting to others.

[ayeecorreia]

thanks for the DP. I periodically check Amex personal loans as i have 6 open cards with them and never get any offers over the past 2 years. I finally had an offer in my account today. Interest rate 10.25%. I'll check again in a month or so to try and get a lower interest rate. 

[Wavester64]

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@Gollum wrote:

I have an American Express BCE and American Express says I'm pre-approved for a non-secured Personal Loan of $25,000 for 36 months at 5.98%. I have no intention of accepting the offer, but I thought the "data point" might be interesting to others.

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I just got this as well on the Amex Gold. 

Curious - does anyone know if this is a HP on your credit report? 🤔

[pizzadude]

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@Wavester64 wrote:

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@Gollum wrote:

I have an American Express BCE and American Express says I'm pre-approved for a non-secured Personal Loan of $25,000 for 36 months at 5.98%. I have no intention of accepting the offer, but I thought the "data point" might be interesting to others.

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I just got this as well on the Amex Gold. 

Curious - does anyone know if this is a HP on your credit report? 🤔

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Most have reported that accepting an AMEX personal loan offer does not result in a HP.

[jaxstraw]

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@pizzadude wrote:

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@Wavester64 wrote:

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@Gollum wrote:

I have an American Express BCE and American Express says I'm pre-approved for a non-secured Personal Loan of $25,000 for 36 months at 5.98%. I have no intention of accepting the offer, but I thought the "data point" might be interesting to others.

---

I just got this as well on the Amex Gold. 

Curious - does anyone know if this is a HP on your credit report? 🤔

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Most have reported that accepting an AMEX personal loan offer does not result in a HP.

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No HP for me when I accepted PL offer in Feb.

[Wavester64]

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@jaxstraw wrote:

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@pizzadude wrote:

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@Wavester64 wrote:

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@Gollum wrote:

I have an American Express BCE and American Express says I'm pre-approved for a non-secured Personal Loan of $25,000 for 36 months at 5.98%. I have no intention of accepting the offer, but I thought the "data point" might be interesting to others.

---

I just got this as well on the Amex Gold. 

Curious - does anyone know if this is a HP on your credit report? 🤔

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Most have reported that accepting an AMEX personal loan offer does not result in a HP.

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No HP for me when I accepted PL offer in Feb.

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Any penalty for paying off say a 12-month loan in 3-4 months? I think I read NO, but just making sure if anyone knows.

[pizzadude]

No prepayment penalty, see https://www.americanexpress.com/us/loans/personal-loans/

[Wavester64]

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@pizzadude wrote:

No prepayment penalty, see https://www.americanexpress.com/us/loans/personal-loans/

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How about saving on interest on the months you paid it off early? (checking your link now as I ask this question)

[pizzadude]

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@Wavester64 wrote:

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@pizzadude wrote:

No prepayment penalty, see https://www.americanexpress.com/us/loans/personal-loans/

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How about saving on interest of the months you paid it off early? (checking your link now as I ask this question)

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I don't believe the interest is front-loaded on these loans but you'd have to confirm the details in the loan agreement.

[Wavester64]

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@pizzadude wrote:

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@Wavester64 wrote:

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@pizzadude wrote:

No prepayment penalty, see https://www.americanexpress.com/us/loans/personal-loans/

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How about saving on interest of the months you paid it off early? (checking your link now as I ask this question)

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I don't believe the interest is front-loaded on these loans but you'd have to confirm the details in the loan agreement.

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I gotta say this : I still don't know about my interest dilemma,  but that had to be the EASIEST loan I ever did. Submitted the app yesterday late afternoon, I was approved immediately, and then this morning I woke up early and the money was already sitting in my account. For this and many other reasons is why I love being with AMEX!