AmOne Personal Loans Review
AmOne is a free loan aggregator website that lets consumers find personal and corporate loans from a range of lenders. Since its founding in 1999, the company has arranged loans in excess of $4 billion.
If you’ve ever looked for a loan, you know that the procedure can be time-consuming and irritating.
According to AmOne, it reduces the hassle of locating the needs and applications of numerous lenders by delivering possible lenders straight to you.
AmOne Synopsis
AmOne is neither a bank nor a lender. Rather than issuing or servicing loans, it is a loan marketplace that connects borrowers with a variety of lenders who may be able to meet their requirements.
The company’s headquarters are in Fort Lauderdale, although it services clients in all fifty states. It was established in 1999 and has a Trustpilot rating of 4.77 out of 5 stars based on more than 800 reviews.
AmOne, like other loan aggregators such as Lending Tree and Bankrate, requires borrowers to create a profile by inputting information about their income and the type of loan they require. Once a borrower’s profile is complete, AmOne’s algorithm will use this data to retrieve lenders from its list of lending partners.
AmOne provides a variety of loans, including unsecured personal loans and commercial loans for existing and new businesses. AmOne is a free service that matches borrowers with potential lenders without requiring a credit check.
AmOne has minimum and maximum borrowing requirements based on the type of loan you need. According to its website, the following are its loan amount requirements:
Loan Type: Minimum: Maximum:
- Personal $1,000 $50,000
- Unsecured $1,000 $50,000
- Consolidation of Debt
- $2,000 $50,000
- The small business did not mention $350,000
- Startup Business $1,000 $50,000
AmOne offers matching for debt management and debt relief services in addition to its loan matching service. Through its CardRatings website, the company also matches borrowers with credit card lenders.
Is AmOne a legitimate lending institution?
AmOne does not provide, service, or manage loans. However, it is a reputable and genuine loan aggregator business.
One of the greatest methods to determine a company’s reputation is to examine its performance on third-party review websites. AmOne has mostly favorable ratings on sites such as Trustpilot and Consumer Affairs.
On Trustpilot, for instance, has more than 800 ratings, of which 87% are rated “great,” and only 1% are rated “bad.”
According to positive evaluations, dealing with AmOne was effortless, swift, and professional.
According to another assessment, AmOne was straightforward regarding available alternatives and selections.
AmOne has almost 200 reviews on the Consumer Affairs website, with an average rating of 4.8 out of 5 stars.
According to one good reviewer, it takes around two days to be connected with lenders for a personal loan.
Another favorable reviewer praised AmOne’s customer service, stating that they were personally contacted by an AmOne employee.
Due to the fact that AmOne is a loan aggregator and not a lender, it is essential to understand that each lender has its own terms and conditions. Once you have been matched with lenders, you should thoroughly examine their customer reviews and tiny print.
Consider the Pros and Cons of an AmOne Loan
AmOne’s benefits and downsides are comparable to those of any other company. Before submitting your information, you should evaluate the potential advantages and disadvantages.
Pros:
- No cost to use There are no fees to be matched with lenders.
- Simple to use the online profile submission form
- Receive unrestricted access to AmOne customer support agents who can answer your inquiries regarding available alternatives.
- No hard credit inquiries on your report
Cons:
- Limited information on the terms of particular lenders unless you apply directly with a lender
- The borrower is still responsible for researching particular lenders
- There is no way to compare lenders side-by-side
- Customer service agents are not accessible around-the-clock
While AmOne will not pull your credit record, bear in mind that individual lenders will do a credit check when you apply directly with them. Working with AmOne will not result in any hard or soft credit inquiries, but submitting applications with your matched lenders will.
Six Uses for AmOne
There are several ways to utilize AmOne to improve your money. In addition to matching borrowers with potential lenders, AmOne also offers to match with debt management providers and credit card offer information.
1. Personal Loans
AmOne’s loan matching service is arguably its most well-known offering. It connects customers with pre-screened lenders offering personal loans of up to $50,000.
2. Loans for Debt Consolidation
AmOne may be able to connect you with lenders who provide debt consolidation loans if you want to remove high-interest debt. According to AmOne’s website, you may combine debts ranging from $2,000 to $50,000.
3. Consolidation of Credit Cards
There are typically two options for consolidating credit card debt. Others opt to take out a personal loan to pay off all of their high-interest credit cards, while some choose to transfer their debt to a new credit card that provides benefits such as a 0% APR for the first year.
AmOne may be able to link you with lenders who provide credit card consolidation loans if you are interested in obtaining a loan to lower your interest payments.
4. Business Loans
Additionally, AmOne provides two types of business loans. Entrepreneurs with an established firm may borrow up to $350,000, while startups can borrow between $1,000 and $50,000.
5. Debt Management and Debt Relief
Similar to its loan matching service, AmOne does not offer debt management or debt relief services directly. Instead, it links borrowers to partners who provide these services.
6. Credit Card Promotions
AmOne connects consumers with credit card lenders via its partner website, CardRatings. Similar to its other services, AmOne does not directly provide credit cards.
How do AmOne’s Personal Loans function?
The three-step method for utilizing AmOne’s loan matching technology is basic.
Create a personalized profile
The initial step is to establish a personal profile. AmOne will use your information to link you with one of its loan partners.
To create a profile, you must enter basic information such as your name and address, the type of loan you need, and a rough estimate of your credit score.
AmOne will also inquire about your income, work if you own or rent your residence, and your credit card debt.
Step 2: Connect with Lenders
After completing your personal profile, you submit it online using the AmOne system. Some customers report being matched with lenders in as little as ten minutes, but others claim the process takes several days.
It is also conceivable that you will receive no matches. For instance, if you have a low income or a low credit score, it may be tough to locate a lender ready to deal with you.
Don’t worry if AmOne does not return a match. You can employ a variety of credit repair tactics to rebuild your credit or increase your score to satisfy lenders’ borrower requirements, or you can deal with a credit repair company if you need assistance.
Step 3: Directly Apply with Lenders
When you discover an appropriate lender, you must submit your application directly to that lender. Before submitting an application, you should ensure that you fulfill the lender’s borrowing criteria, as AmOne does not guarantee acceptance.
How Much Do AmOne Personal Loans Cost?
The AmOne service is completely free, and you will never be charged to be matched with prospective lenders. Before applying directly with a match, you should be aware that certain individual lenders may charge an application fee.
Does AmOne perform a hard credit pull?
The submission of your information on the AmOne website will never result in a hard or soft credit inquiry.
If you decide to apply for a loan with one of the lenders AmOne connected you with, the lender will conduct a hard investigation on your credit. Due to the fact that excessive hard inquiries might lower your credit score, you should avoid submitting too many direct applications simultaneously.
Criteria for Eligibility: What Do You Need to Apply?
Other than requiring customers to be at least 18 years old, AmOne’s website does not provide any more borrower criteria. Instead, each lender will have its own distinct criteria for issuing loan offers.
If you want to submit a loan application to a lender whose information was returned by AmOne, you should anticipate needing the following information in general:
- Your earnings
- Employment status
- Simple contact details
- Nationality status
- Financial account details
- Information regarding debt, including credit card debt
In addition, before making a loan offer, certain lenders may want you to submit proof of specific information. In most circumstances, you can do this task online, although you may need to mail some papers.
Next Steps After Approval of the AmOne Loan Review
It is vital to remember that when AmOne provides your list of matches, these are not loan offers. Rather, here is a list of lenders that may be willing to deal with you based on the information you supplied in your AmOne profile.
When AmOne links borrowers with lenders, it gives basic information regarding loan terms, according to the company. To obtain comprehensive information on interest rates, loan terms, and costs, you must submit a direct loan application with individual lenders.
How to Communicate with AmOne
If you want to support, AmOne provides many contact options. By filling out the contact form on the AmOne website, you may make a contact request.
You may also chat with a live loan advisor during normal business hours by calling AmOne at 1-800-787-5187.
If you wish to correspond with AmOne by standard mail, their address is:
Conclusion
If you’re looking for a personal or business loan, AmOne can help you identify potential lenders more quickly and easily. Their matching procedure is free, and you do not need to worry about hard credit queries reducing your score.
Overall, AmOne receives accolades from both present and former clients. The website does not allow you to compare lenders side-by-side, but it does provide a starting point that might help you reduce your search for the appropriate lender.
