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American Express BCE plus personal loan pre-approval

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Gollum
Established Contributor

American Express BCE plus personal loan pre-approval

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.

Credit Scores: (FICO 8) 850 Experian September 2022, 844 TransUnion October 2022 | (FICO 9) 844 Equifax October 2022
Credit Cards (newest to oldest): NFCU VISA Platinum $25,000 | BECU Cash Back VISA $10,000 | American Express BCE $3000 | Simmons Bank VISA Platinum $7500 | Capital One No Hassle Miles Rewards VISA Platinum $500
Message 1 of 11
10 REPLIES 10
ayeecorreia
New Contributor

Re: American Express BCE plus personal loan pre-approval

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. 

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Message 2 of 11
Wavester64
Valued Contributor

Re: American Express BCE plus personal loan pre-approval


@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? 🤔






Potential Future Cards
Message 3 of 11
pizzadude
Moderator

Re: American Express BCE plus personal loan pre-approval


@Wavester64 wrote:

@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? 🤔


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

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
Message 4 of 11
jaxstraw
Valued Contributor

Re: American Express BCE plus personal loan pre-approval


@pizzadude wrote:

@Wavester64 wrote:

@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? 🤔


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


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

Jax

*************************************************************************************
Then you are a fool. Be thankful that when God gave you a face, he gave you a fool's face
Message 5 of 11
Wavester64
Valued Contributor

Re: American Express BCE plus personal loan pre-approval


@jaxstraw wrote:

@pizzadude wrote:

@Wavester64 wrote:

@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? 🤔


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


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


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.






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Message 6 of 11
pizzadude
Moderator

Re: American Express BCE plus personal loan pre-approval

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

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
Message 7 of 11
Wavester64
Valued Contributor

Re: American Express BCE plus personal loan pre-approval


@pizzadude wrote:

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


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






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Message 8 of 11
pizzadude
Moderator

Re: American Express BCE plus personal loan pre-approval


@Wavester64 wrote:

@pizzadude wrote:

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


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


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

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
Message 9 of 11
Wavester64
Valued Contributor

Re: American Express BCE plus personal loan pre-approval


@pizzadude wrote:

@Wavester64 wrote:

@pizzadude wrote:

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


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


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


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! Smiley Happy






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Message 10 of 11
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