A NextStep Loan could help you consolidate your higher-interest credit card debt at a lower fixed interest rate with no origination fees or pre-payment penalties — so you can save.
If approved, you can lock in a competitive interest rate and consolidate up to four credit cards into one fixed monthly payment.‡
‡Consolidating multiple credit card balances into a single monthly payment may not reduce or pay off your debt sooner in all cases. A lower payment may result from a lower interest rate, a longer loan term, or a combination of both. Longer loan periods may result in more interest charged over the life of the loan. NextStep Loans can be used to consolidate credit cards only at eligible U.S. banks (American Express Cards are excluded).
Here’s an illustrative example of potential savings, assuming a $10,000 debt balance in both cases and the APRs and monthly payments shown below.
With NextStep Loans, you have the service and reliability of American Express by your side, helping you turn your vision into reality.
Log in to your American Express account to see if you've been pre-approved for a loan amount and APR. Then apply for your loan at your pre-approved rate.
To apply, tell us the amount you want to borrow for each credit card you want to pay with your loan and choose one of three repayment periods that best meets your needs. Then see what your monthly payment could be.
If you're approved, you can review the terms of your loan. If you accept your loan, we will send your loan funds directly to the credit cards you select in your application.