What are American Express requirements for borrowers? This question is about American Express

American Express requirements include being at least 18 years old, having enough income or assets to make the monthly payments and having a Social Security number. You will also need to have a verifiable bank account to qualify for a American Express personal loan. American Express Requirements for Borrowers Credit Score: 660+ Income: Not disclosed Age: 18+ Citizenship: U.S. citizen or permanent resident Identification: Social Security number Bank Account: Verifiable bank account Residency: All states Before you apply for any personal loan, it’s a good idea to pre-qualify. While meeting all of the requirements gives you a good chance of approval, it’s never guaranteed. To pre-qualify with multiple lenders at once, check out WalletHub’s free pre-qualification tool .

Ad Disclosure Ad Disclosure

What are American Express requirements for borrowers?

Answer Question Report Abuse

This question is about American Express

Grace Enfield, Content Writer

@grace_enfield • 04/11/22 This answer was first published on 04/11/22. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

Permalink Report Abuse

American Express requirements include being at least 18 years old, having enough income or assets to make the monthly payments and having a Social Security number. You will also need to have a verifiable bank account to qualify for a American Express personal loan.

American Express Requirements for Borrowers

Credit Score: 660+
Income: Not disclosed
Age: 18+
Citizenship: U.S. citizen or permanent resident
Identification: Social Security number
Bank Account: Verifiable bank account
Residency: All states

Before you apply for any personal loan, it’s a good idea to pre-qualify. While meeting all of the requirements gives you a good chance of approval, it’s never guaranteed. To pre-qualify with multiple lenders at once, check out WalletHub’s free pre-qualification tool.

Answer Question

American Express Personal Loan Requirements

Minimum Credit Score: 660+ credit score

Age: 18+ years old

Residency: U.S. citizen or permanent resident

Identification Type: SSN

Once you make sure you've met all the requirements for an American Express personal loan, you should have a good chance of approval. However, the exact interest rate you receive will depend on factors such as your credit score, income, and debt.

You can use WalletHub's free pre-qualification tool to see if you're likely to get approved and what rates you could get. Plus, it won't hurt your credit.

show less

Does American Express do a hard inquiry?

Yes, American Express does a hard inquiry when you apply for a loan. This credit report inquiry will likely drop your credit score by about 5 to 10 points, but you'll be able to get back on track with a few months of on-time payments.

American Express's hard inquiry will stay on your credit report for two years, but it won't affect your credit after one year, and the impact may subside before then. To see how your individual credit score may be affected by a hard inquiry, you can use the … read full answer credit score simulator on WalletHub.

If you're looking for a lender that does not do a hard inquiry at all, you could consider OppLoans and Integra Credit.

show less

How do I apply for an American Express personal loan?

To apply for an American Express personal loan, first check for pre-qualification and then enter your personal and financial information on the online application. Next, verify the accuracy of the information, submit the application and wait to receive a decision.

How to Apply for an American Express Personal Loan

… read full answerCheck for pre-qualification. Pre-qualification is a way to check your approval odds and potential rates before applying for an American Express personal loan. It doesn't hurt your credit. You can check for pre-qualification on the American Express website.

Enter your personal information on the application. American Express requires the following personal information on the application: the amount you wish to borrow, your desired repayment period, the purpose for requesting a loan and your contact information.

Enter your financial information on the application. American Express requires the following financial information on the application: your annual income .

Double-check the application for accuracy. To ensure that your American Express personal loan application gets processed as quickly as possible, make sure that all the information is correct and complete before you submit it.

Submit your application. American Express will typically provide a decision on your application within up to 3 business days.

If you are approved for an American Express personal loan, you will generally receive the funds within 3 to 5 business days after approval. After that, it's your responsibility to make monthly payments until you have fully paid back your loan, including interest.

show less

WalletHub Answers is a free service that helps consumers access financial information. Information on WalletHub Answers is provided “as is” and should not be considered financial, legal or investment advice. WalletHub is not a financial advisor, law firm, “lawyer referral service,” or a substitute for a financial advisor, attorney, or law firm. You may want to hire a professional before making any decision. WalletHub does not endorse any particular contributors and cannot guarantee the quality or reliability of any information posted. The helpfulness of a financial advisor's answer is not indicative of future advisor performance.

WalletHub members have a wealth of knowledge to share, and we encourage everyone to do so while respecting our content guidelines. This question was posted by WalletHub. Please keep in mind that editorial and user-generated content on this page is not reviewed or otherwise endorsed by any financial institution. In addition, it is not a financial institution’s responsibility to ensure all posts and questions are answered.

Ad Disclosure: Certain offers that appear on this site originate from paying advertisers, and this will be noted on an offer’s details page using the designation "Sponsored", where applicable. Advertising may impact how and where products appear on this site (including, for example, the order in which they appear). At WalletHub we try to present a wide array of offers, but our offers do not represent all financial services companies or products.

Ask a Question

140

Ask Question

Ask Your Question

WalletHub Transparency

We are committed to being fully transparent with our readers. Opinions expressed here are the author’s and/or WalletHub editors'. WalletHub editorial content on this page is not provided, commissioned, reviewed, approved or otherwise endorsed by any company. In addition, it is not any company’s responsibility to ensure all questions are answered.