Types Of Unsecured Personal Loans Offered By American Express
American Express provides an unsecured personal loan designed for various purposes. The following are eligible uses for an American Express personal loan:
- Debt consolidation from other high-interest credit cards, excluding those issued by American Express.
- Home remodeling projects.
- Travel expenses.
- Acquisition of new home appliances.
- Purchases of other significant items.
However, there are specific purposes for which the American Express personal loan cannot be utilized. These include business expenses, vehicle purchases (except for making a down payment), real estate acquisitions, post-secondary education costs, and the purchase of securities. Additionally, it’s important to note that you cannot use the proceeds from your personal loan to consolidate or refinance existing debt from an American Express credit card.