AMEX Personal Loans
#1
Original Poster
Join Date: Apr 2012
Location: SFO
Programs: AS MVP Gold 75K, UA Gold, Marriott LTT, Avis President's Club
Posts: 1,539
AMEX Personal Loans
I know AMEX has their commercial bank arm, but I never been targeted when logging into my account for a personal loan.
I am being offered up to 25K at 6.98%
Not interested in this at all. However, that interest rate matched some of my student loan rates Is this new?
I am being offered up to 25K at 6.98%
Not interested in this at all. However, that interest rate matched some of my student loan rates Is this new?
#2
Join Date: Mar 2008
Location: Austin (TX)
Posts: 308
Had a similar offer...in googling, it looks like the numbers have been all over the map on both loan amount and maximum APR.
Last time I saw them doing this sort of thing was in the early 90's with a blank check and terms attached. Forget what they called the program back then though...
Last time I saw them doing this sort of thing was in the early 90's with a blank check and terms attached. Forget what they called the program back then though...
#5
Join Date: Jul 2015
Location: SEA
Posts: 138
WSJ ran an article earlier that gives some context to this. The gist of it is that Amex has been looking for alternative revenue sources since losing CostCo last year, so they're trying to strengthen their consumer lending arm. This also explains why they've been aggressively pushing "pay over time" features so that consumers will start carrying balances on charge cards.
https://www.wsj.com/articles/america...lls-1500498486
https://www.wsj.com/articles/america...lls-1500498486
#6
Original Poster
Join Date: Apr 2012
Location: SFO
Programs: AS MVP Gold 75K, UA Gold, Marriott LTT, Avis President's Club
Posts: 1,539
#7
Moderator
Join Date: Jun 2003
Location: Miami, Mpls & London
Programs: AA & Marriott Perpetual Platinum; DL & HH Gold
Posts: 48,952
A charge card with a linked line of credit can be superior to a credit card because one can carry a balance without having new transactions automatically added to the interest bearing balance.