American Express provides personal loans ranging from $3,500 to $40,000. Although American Express's maximum personal loan limits are somewhat lower than those of other personal loan companies, its low APR of 4.93% to 19.97% may compensate for the low personal loan limits.

At a Glance: American Express Personal Loans

  • American Express

    • 4.93% to 19.97%APR Range
    • 660Minimum Credit Score
    • $3,500 to $40,000Loan Amount Range
    • 24 to 84 monthsRepayment Terms
    • Same DayTime to Receive Funds

    American Express

American Express Personal Loan Details and Requirements


American Express personal loan’s APR ranges between 4.93% to 19.97%.

Credit Score Requirements

American Express requires a minimum credit score of 660.

Income Requirements

No income requirements are needed.

Loan Amounts

American Express's minimum loan requirement is $3,500, while the maximum amount is $40,000.

Loan Terms

Amex loan terms range between 24 to 84 months.

Permitted Uses

Amex personal loans can be used for debt consolidation, home improvement and other eligible purposes.

Prohibited Uses

Amex personal loans cannot be used for post-secondary education expenses, business, real estate, paying off balances on American Express-issued cards, vehicle purchases or any illegal purpose.

Time to Receive Funds

Amex typically disburses funds within 3 to 5 days, except in rare cases when more information from the borrower is required.

Origination Fees

Amex doesn’t charge origination fees on personal loans.

Late Fees

Amex charges a $39 late payment fee.

Prepayment Penalty Fees

Amex doesn’t charge prepayment penalty fees.

Co-signers and Co-applicants

Co-signers are not allowed by American Express. The American Express website doesn’t specify details about co-applicants.


Borrowers with good spending habits may improve their credit with Amex personal loans.

Mobile Application

Amex has a mobile app that borrowers can use to manage their personal loans.

Is American Express Right for You?
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Personal loan lenders offer varying interest rates and requirements. As a result, it's important to determine if they're the right fit for your needs. Read MoneyGeek's American Express personal loan review for more information.

Who American Express Is Perfect For

An American Express personal loan is best for consumers who want to consolidate their current debts. However, American Express credit cards cannot be included in the consolidation loan.

Borrowers who want to avoid paying origination or prepayment fees may also find Amex ideal.

Furthermore, borrowers may also improve their credit by making on-time payments since Amex reports to the major credit bureaus.

Who Should Not Choose American Express

Amex personal loans are only available to preapproved cardholders. To qualify, you must have an American Express credit card and the lender must make you a loan offer.

Your offer is dependent on your creditworthiness and other factors.

Furthermore, American Express does not provide an annual percentage rate discount for setting up autopay, which means this lender may not be suitable for you if you are looking for discounts.

How to Apply for an American Express Personal Loan

MoneyGeek outlined the key phases involved in your American Express personal loan application. Aside from determining your eligibility, you'll need to complete the Amex application form, sign agreements and receive funding.



If you have an American Express card, you can check to see if you're preapproved by viewing your account. Amex will ask you to submit your desired loan amount and other information during the prequalification process. Remember that your creditworthiness and other factors determine your offer.


Fill Out Application Form

The application process involves providing personal information and a payment method.


Wait for Approval

Amex approval typically takes a few seconds.


Review Loan Agreement

After approval, carefully review the loan agreement and read all the fine print. Ensure you look at the loan terms, any fees, the approved amount and the payment schedule.


Sign Loan Agreement

Borrowers must sign and submit the agreement letter within three days.


Receive or Direct Funds

Amex disburses personal loan payments within the day. Payment will be deposited into your account during the application process. However, ensure that the account information matches your data.


Make Payments

You can make payments using your Amex dashboard. There is no prepayment penalty if you pay your loan off early. You can also set up automatic payments.

What to Do if You Are Rejected From American Express

Not all personal loan applications are approved. American Express may reject your loan application for various reasons, including not being an Amex cardholder, not having enough credit, applying for a personal loan amount of more than $40,000 and more.

You should contact American Express by email or phone to figure out why your loan was declined. Before applying again, MoneyGeek recommends that you address the issue that caused your previous loan to be rejected so that you can improve your chances of approval.

Frequently Asked Questions About Personal Loans

The best personal loan lender for you is determined by your particular borrowing needs. MoneyGeek answers the most frequently asked questions about American Express personal loans to help you determine if the lender is right for you.


The content on this page is accurate as of the posting/last updated date; however, some of the rates mentioned may have changed. We recommend visiting the lender's website for the most up-to-date information available.

Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, lender or other entity. Learn more about our editorial policies and expert editorial team.