If you’re looking for a personal loan, both American Express and Wells Fargo offer options. Both lenders are well-established in the American financial business. American Express has been providing financial products to customers since 1850. Wells Fargo started in 1852 to help customers manage their money well.

Both lenders offer personal loans to current customers. However, American Express is the best option for low APRs while Wells Fargo has the option for larger loan amounts.

American Express vs. Wells Fargo at a glance

Wells Fargo and American Express both offer personal loans, but they differ in APRs, loan term lengths and loan amounts.

American Express
Wells Fargo
Bankrate Score 4.4 4.6
Better for Lowest APR Large loan amounts
Loan amounts $3,500-$40,000 $3,000-$100,000
APRs From 5.89% 7.49%-23.24%
Loan term lengths 12-48 months 12-84 months
Fees Late payment fee Late payment fee
Minimum credit score Not specified Not specified
Time to funding Typically 3-5 business days Typically 1-3 business days

American Express personal loans


  • No upfront fees.
  • Quick loan decision.
  • Fully online process.


  • No in-person service.
  • Only available to cardholders.
  • High loan amount minimum.

American Express provides personal loans for any American Express cardholder. The loans come with competitive interest rates and average loan amounts and loan term lengths available. American Express doesn’t specify a credit score minimum for their personal loans, but you can expect that at least the typical minimum of 610 to 640 will be required.

While the American Express personal loan presents a good option for American Express cardholders, it’s quite inconvenient to get a personal loan with them if you don’t already have one of the credit cards. Additionally, personal loans from American Express can’t be used for vehicles, business, college expenses, real estate or securities. Other personal loans give more freedom in how you can use loan funds.

Wells Fargo personal loans


  • High loan amounts.
  • Flexible repayment terms.
  • Same day credit approvals.


  • Loans only offered to current customers.
  • No specified credit score minimum.
  • Only has locations in 37 states.

If you’re looking for a personal loan, you could also consider Wells Fargo. The lender only offers personal loans to current customers, but you can visit a local branch to find out how to become a customer and apply for a personal loan. If you are a current customer, you can apply for a personal loan with Wells Fargo online, by phone or in-person.

Wells Fargo personal loans have a few features that stand out. First of all, the lender offers loan amounts up to $100,000. Many personal loan lenders have a maximum amount closer to $50,000. Additionally, Wells Fargo offers a special military benefit allowing borrowers in the military to request loan relief during their service. The lender also offers a rate discount between 0.25 percent and 0.50 percent to borrowers who set up autopay from a qualifying Wells Fargo account.

How to choose between American Express and Wells Fargo

Both American Express and Wells Fargo offer personal loan options to pre-existing customers. However, both lenders have different strengths.

Choose Wells Fargo for large loan amounts

Wells Fargo wins out against American Express for the highest loan amount. American Express offers loans up to $40,000, while Wells Fargo has loan amounts as high as $100,000. This is higher than American Express and higher than many other personal loan lenders offer. If you are looking for a large personal loan, Wells Fargo is the best option.

Choose American Express for most competitive APR

On the flipside, American Express offers the lowest APR between the two lenders. American Express APRs start as low as 5.89 percent. APRs for a Wells Fargo personal loan start at 7.49 percent. That’s a difference of almost a full two percentage points. If you are looking to save the most money on your loan over time, choose American Express.

Compare lenders before applying

Getting a personal loan costs money. The interest rate, loan fees and repayment terms all add up to create the cost of the loan. Make sure you are getting the best deal by comparing multiple lenders. Look at both traditional lending and online lending options. You may find you can get the best deal with a lender you already bank with.