New Amex Popup

[Meanmchine]

Happy mothers day +1

Signed on to my Amex account to make a payment and as soon as I logged on, I got a  popup saying I was preapproved for a  Personal Loan for "up to $8900" at an APR "not greater than 6.99%" 

Is this marketing or real? 

[Anonymous]

Looks like a pre approval to me. 

[601flyguy]

Its real and it doesn't even require a hp. I got the popup a few weeks ago for 25k.
If you go to "Personal Loans" you will see it there with more info.

[Gmood1]

Yup, it's real meanmachine. By the way, can I borrow $8900?😁

[UncleB]

It's very real... I'll soon be making the last payment on one I took out last year. 

I found the process to be extremely simple... I applied in the late afternoon and the money was in my bank account the next AM. 

[TaperRandy]

It's very real. So much so that it is an actual drop down feature at the website where to manage your card. Here's the kicker...you must be doing something right, because I looked into it out of curiousity and the reply was "We have no personal loan rates for you at this time". Yet they went ahead and gave me a $30,000 CL on one card, and another is wide open spending.  Go figure. Further proof that all we can ever really do, is speculate to the best of our ability. 

Congrats though. Nice emergency fund at your disposal.

[Meanmchine]

---

@Gmood1 wrote:

Yup, it's real meanmachine. By the way, can I borrow $8900?😁

---

You  sure can !!

At 22.9% APR

10% Loan origination fee

25% Prepayment penality

Thanks everyone for your fast replies.  So let me get this right, this is a loan for a fixed amount and not a line of credit, correct? And this will also be a new trade line?

[UncleB]

---

@Meanmchine wrote:

---

@Gmood1 wrote:

Yup, it's real meanmachine. By the way, can I borrow $8900?😁

---

You  sure can !!

At 22.9% APR

10% Loan origination fee

25% Prepayment penality

Thanks everyone for your fast replies.  So let me get this right, this is a loan for a fixed amount and not a line of credit, correct? And this will also be a new trade line?

---

Yep, new trade line and fixed amount (installment loan).

It will show up on your Amex dashboard similar to a card, and the account number will be formatted like an Amex credit card, but it's not revolving. 

Also, you'll have to use a desktop (or desktop mode) to work with it (payments, etc.)... the account never showed up on my Amex app (I use Android... possibly it shows up in the iOS app).

[Gmood1]

---

@Meanmchine wrote:

---

@Gmood1 wrote:

Yup, it's real meanmachine. By the way, can I borrow $8900?😁

---

You  sure can !!

At 22.9% APR

10% Loan origination fee

25% Prepayment penality

Thanks everyone for your fast replies.  So let me get this right, this is a loan for a fixed amount and not a line of credit, correct? And this will also be a new trade line?

---

Dang Meanmachine, you are worse than a loan shark.😂😂

Thanks my friend but yeah...no thanks.😆