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

In terms of personal loans, American Express is the best option for low APRs while Wells Fargo offers 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 4.4
Better for Lowest APR Large loan amounts
Loan amounts $3,500-$40,000 $3,000-$100,000
APRs From 5.98% 8.49%-24.49%
Loan term lengths Not specified 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 logo

American Express personal loans

Rating: 4.4 stars out of 5
Learn more in our Bankrate review

Wells Fargo logo

Wells Fargo personal loans

Rating: 4.4 stars out of 5
Learn more in our Bankrate review

How to choose between American Express and Wells Fargo

Both American Express and Wells Fargo offer personal loan options to pre-existing customers. This may limit your eligibility, but if you’re looking to open an account with one over the other, both lenders have different strengths. Choose Wells Fargo for larger loans, but stick with American Express if you want to score the lowest possible APR.

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 loans as large as $100,000. This is higher than American Express and higher than many other 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. Rates 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.