Can you pay Amex loan with a credit card?

No credit card company allows that. Most only accept payment by bank transfer, debit card, check or money order. But you can pay your Amex with a credit card if you do a balance transfer. … However, you need to open a new credit card account to get a good deal, so it’s not something you can do every month.

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In this regard, can I close my personal loan before tenure?

Personal loan pre-closure: A personal pre-closure is basically when the borrower decides to close the personal loan before the set tenure. … When foreclosing the loan, the borrower will have to pay the EMI of the current month, any outstanding dues if there, are and the foreclosure fees.

Keeping this in consideration, can I pay personal loan in advance? It is possible to pay off your personal loan early, but you may not want to. … The prepayment penalty might be calculated as a percentage of your loan balance, or as an amount that reflects how much the lender would lose in interest if you repay the balance before the end of the loan term.

Herein, can I pay visa with Amex?

The short answer: You can’t. At least probably not in the way you’re thinking. You can’t just log in to your Discover account and pay your bill by typing in your Amex number, and that’s true for most if not all issuers.

Does pre closure affect credit score?

If you already have a good credit score, foreclosing a personal loan may not significantly impact your credit score. Additionally, it will signal to future lenders that you are committed to repaying your debts on time.

Does prepayment of personal loan affect cibil score?

Full prepayment will boost your credit score. Loan pre-closures don’t have a negative impact on your credit score. Part-prepayments only work when you pay in lump sum. Banks usually have a year as a lock-in period within which you cannot close your loan account.

How can I settle my personal loan fast?

5 Simple Ways to Repay Your Personal Loan Quickly

  1. Foreclosing Your Personal Loan. Personal loans are often used to fulfil short-term financial deficits. …
  2. Repay Quickly on a Higher Interest Rate. …
  3. Go in For Debt Consolidation Loans. …
  4. Get A Home Loan Top-Up. …
  5. Personal Loan Balance Transfer.

Is it good to repay personal loan early?

Typically, if there is no prepayment fee imposed by the lender you will benefit by repaying your loan sooner. Even if this clause is in place, you could still save some money. … The remainder value is what you will save by paying your loan early.

What is express personal loan?

Personal loans of up to $40,000 are available to eligible American Express cardholders. These loans can be used to cover a wide variety of expenses, including debt consolidation, medical expenses, weddings, vehicle down payments, and more.

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