AmOne Review 2024

Types of Financing Available

AmOne personal loans range from $1,000 to $50,000. It isn’t always easy to find lending platforms that offer very small loans, but a growing number of borrowers are requesting this feature. Since you’re not getting a loan directly from AmOne, there aren’t any specific requirements for approval. This is good news for customers with low credit scores, but it’s ultimately up to the lender whether you get approved or not.

Here are the general requirements for securing a loan at this marketplace lender:

• You must be 18 or older.
• You must be a US citizen or permanent resident.
• You must authorize the lender to do a “hard pull” of your credit report.

Debt Consolidation

One of the main reasons people take out loans is to cover outstanding debts. Some have spent beyond their credit card limit, while others are trying to cover a separate loan with bad repayment terms. Whatever the reason, AmOne is the ideal destination for finding loans if you’re already in debt.

Student Loans

Higher education has never been more expensive – or more important. Today, most students have a list of other expenses including books, rent, and maybe a new laptop. A student loan from AmOne helps you cope with the financial burden of higher education.

Building Credit

To build a credit score, you need to spend some money first. Or you can take out an AmOne loan. Making scheduled payments on time and retiring your debt can boost your credit score significantly.

There are many loan types available, namely:

• Vehicle purchase
• Auto repair
• Starting a business
• Home purchase or improvements
• Investment opportunities
• Medical or dental
• Moving
• Student loans
• Taxes
• Unexpected expenses
• Vacation
• Wedding

AmOne Application Process

Before you can browse through loan offers, you’ll need to fill out an application, either online or by calling AmOne on the phone. The online form is a much faster option, and even though you can communicate with your lender directly by telephone, the site’s support team recommends using email.

The application process begins with you providing the reason you are requesting a loan. You also click a button to indicate which range your credit score falls into. The site processes your data and in a matter of minutes provides you with a list of offers that have the best odds of approval.

In addition to your credit score, the company reviews your tax returns and annual income. The company uses this information to get a sense of your ability to repay a loan and to match you with appropriate lenders.

Don’t be discouraged if you don’t immediately get a long list of offers. After submitting your application, AmOne will periodically send you offers that match your requirements. Applying for a loan through AmOne paves the way to some of the best offers in the industry. It’s up to you to pick the loan that best fits your needs.

AmOne is only a middleman. The site doesn’t process your loan payments. Once you have made a connection with the lender of your choice, AmOne’s work is done.

What Do I Need to Apply?

This personal loan marketplace requires some personal details in its quest to match you with the right lender. Here’s the information you’ll need to provide during the signup process.

• Name
• Address
• Email
• Phone number
• Date of birth
• Loan purpose and amount
• Employment status
• Annual pre-tax income
• Whether you rent or own a home
• Credit card debt (if applicable)
• Whether you’ve declared bankruptcy in the past

AmOne uses state-of-the-art encryption technology to protect all of your personal data.

After the company reviews your application and you pick one of the recommended lenders, you might be required to provide additional documentation. This is common practice used to confirm your identity and financial status. The exact list of documents required varies from lender to lender, but the following items are frequently requested:

• Copy of a government-issued ID
• Tax return forms
• Proof of residence

Once all of this data is processed and you’ve agreed to the offer, the loan provider will do a full credit check. It is this “hard pull” that may affect your credit score.

AmOne Financing Features

Security is paramount for any business that does business online. That’s why AmOne employs 256-bit encryption to protect borrower and lender data.

The site is beginner-friendly and offers an abundance of information on loans, including guides on how loans impact your credit score as well as many short guides on the terminology in this business. It’s always refreshing to see a company that does more than just brag about being one of the industry’s best personal loan lenders.

Another big plus: Several handy financial calculators are on the site. These can help you figure out how much you’d need to pay for an auto loan, a mortgage, or credit card debt. Since you can’t browse loan offers without signing up, the calculators help you get a rough estimate of the monthly rates.

The application process for a personal loan and the review process that follows occur only once. There is no need to reapply or repeatedly message the support team for updates. The platform automatically sends you the latest loan offers, and the lenders may contact you directly if they determine that a particular loan is a great fit for you.

You may find yourself feeling pestered by frequent calls from lenders looking to make a match. And choosing a lender can be difficult because the AmOne website doesn’t provide background information about the company’s lending partners until after you have chosen one.

Not even the best personal loans are free of unwelcome surprises in the fine print. While using AmOne’s services is free, the lenders usually charge origination fees as well as other fees for late payments. That’s why it’s important to educate yourself about each offer before proceeding with the loan.

Loan Amount and APR Details

AmOne loans are similar to what you might have seen on other platforms. This loan marketplace website presents you with various options, but in general, the loans share the following characteristics:

• Loan amount: $1,000 to $50,000
• APR: 3.99% to 35.99%
• Origination fee: Varies from lender to lender
• Other fees: Depends on lender
• Loan term: Two to seven years
• Repayment options: Monthly

The specifics of each loan are determined by the customer’s financial situation. Lower credit scores will generally result in less favorable terms, like a higher APR and a shorter repayment period. The system isn’t exactly flexible, and you get a fixed offer from each lending partner.

Some applicants may have the luxury of waiting for better offers to come in, but people who need a fast personal loan for emergency expenses will have to settle for the first or second loan that’s offered to them.

AmOne Repayment Terms

AmOne lenders expect payments on a monthly basis. The exact terms are not ironed out until your application is reviewed, and you choose one of the presented lenders. You can expect to pay off your loan in 24 to 84 months.

While lenders can slap you with additional fees, they can also offer generous discounts. Early payments can be rewarded with reduced fees, or you can get a discount on the entire loan. Again, the terms will depend on your financial situation, the lender’s policies, and other factors.

The Bottom Line

If you are looking for a personal loan, lending platforms like AmOne can be incredibly useful. The application process is streamlined and automated. The site also has a comprehensive FAQ, and friendly customer support agents stand ready to answer your questions.