There are some rules and terms that you need to know before you apply for a loan with American Express. Following are some of the terms and conditions that you should know:

General: American Express Personal Loans are loans given by American Express Bank, FSB. Loans are not card products so you will not be given any card benefits, reward programs or insurance like American Express Credit and Charge Cards.

Eligibility: You can only claim for your loan if you have a valid offer for a pre-approved loan amount and APR to apply for a personal loan. You have to be an 18 year old or more. You need to be a U.S citizen or resident of this country or its territories and most importantly an American Express Basic Card Member on an active consumer card of the same bank. You should have an online account too. When you are applying for a loan, you have to make sure that all the information and documents you are producing are true and authentic.

You cannot use personal loans for post-secondary education expenses, real estate, business, securities, vehicle purchases or any purposes which is prohibited by the loan agreement.

They reserve the right to verify all the information you provide them, including your identity and information of any bank or card account. However, they will have full faith on the authenticity and completeness of your documents.

Pre-Approved Loan Amount and APR: Your APR and pre-approved loan amount will depend on your creditworthiness and other factors at the time of pre-approval.

Your pre-approved maximum APR will be the highest APR that you may receive for any amount of loan you have requested. Your actual APR may vary depending on the amount of your loan.

After getting your pre-approved offer, you must send an application to verify if you are eligible for a loan or not. Any changes will be considered.