Amex nextstep

[Vegas4Play]

This is an information page in the upper right corner if you click on start now it will ask you to login.

https://www.americanexpress.com/us/next-step-loans/debt-consolidation-faq/index.html?intlink=US:Amex...

This is the terms and cond. page.

https://www.americanexpress.com/us/next-step-loans/terms-and-conditions.html?intlink=US:Amex:NewSite...

[NRB525]

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@Vegas4Play wrote:

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I am curious as how it will report, will it be hidden? and will it be listed as an installment loan?

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Ummmm..... Which would you like? The And clause is illogical

[UncleB]

I might be an outlier on here, but while I don't need a loan at the moment if I found out it was reporting I would likely take it.

I'm one of the people who could use an installment loan for reporting purposes, and this would be an easy no-doc way to get one without having to start a new relationship with one of the credit unions who offer a share secured loan.

I definitely understand why many would prefer it to be non-reporting, though.

[Anonymous]

Thanks for the information! It sounds like a good product.

[Vegas4Play]

It actually doesnt matter much to me at this point (spock ), but it would be nice if it was hidden (provided it is available to me) next year for about a six month period.

[jgodfrey82]

I am doubting it is a hidden TL, just a new product that may report as installment, which in its own can be great for some who are missing that type of account or want to rebalance util and save some interest.  Good job Amex

[Anonymous]

I couldn't access the link using my tablet... was told I had to be on a desktop. Will def look into this later when I can get to my laptop.

[Anonymous]

Talk about jumping in with both feet to cater to people with less than ideal credit situations. Actually I think it is brilliant. Capital One already has auto loans but they could have done this.

[jgodfrey82]

I think they are offering to both types of borrowers, in my case the offer is 20k at a great rate, my Sept amex score was 770.

[UncleB]

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@jgodfrey82 wrote:
I think they are offering to both types of borrowers, in my case the offer is 20k at a great rate, my Sept amex score was 770.

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+1

In my case the rate is OK, but my pre-approval amount is low because the income they have on file for me is very modest, although my current EX score as reported by them is 760.

I actually like how it seems the offers are tailored for each of us, and I wouldn't say this is a product for 'bad' credit by any means.