AmONE Loan Review [2024]: Find the Best Rates, Get the Best Service

AmONE is a loan comparison site that lets you narrow down potential lenders based on their quotes. The website asks you to answer some basic questions about how much money you want to borrow, the purpose of the loan, and your personal details before linking you with outside lending partners. You should be prepared to provide information like your income, home ownership status, employment status, and name.

As someone who has considered a personal loan for credit card consolidation, I tested the site to see how it works.

This guide offers the insights you need to determine if AmONE might be the right site to help you find a personal loan that’s compatible with your needs and credit profile. Before you choose a personal loan online, you may also want to compare options from banks you already have a relationship with for checking and savings.

If you already have a positive lending or spending history with a major institution, they may present you with special loan offers or be more likely to approve your application to retain you as a customer. Credit unions can also favor existing customers when it comes to personal loans. Big banks have a longer underwriting process, but their rates tend to be more competitive.

Is AmONE a good company?

AmONE is not BBB accredited, but it does have generally positive reviews on TrustPilot and Consumer Affairs. As of June 2024, the company had a rating of 4.4 out of 5 on TrustPilot, and 4.1 out of 5 on Consumer Affairs.

Most customers report being satisfied with customer service and the outcome of their application, though some reviews mention that the loan partner they were directed to ended up being quite pushy.

AmONE does not lend money itself, but rather pairs borrowers with third-party lenders who they call lending partners. Still, if you have questions about the AmONE site or application process, you can take advantage of live assistance via a 1-888 number. Unfortunately, there is no live chat service. AmONE has also been around since 1999, so if you’re looking for a company with longevity, this may be a good fit for your personal loan search.

Be aware that AmONE will only connect you with lending partners they have chosen to work with. They may not recommend loans from every possible online lender that you are qualified to borrow from.

My experience with AmONE

I’ve been weighing my options when it comes to credit card consolidation, so I tested the AmONE site on for size. While I didn’t end up pulling the trigger on a loan offer, I did learn some things about how swiftly the service actually works.

The comparison process begins right on the home page. The first thing I did was select “Pay Off Credit Cards” from the drop-down menu.

From there I answered some basic questions about how much I’m looking to borrow, my job (whether I’m employed, self-employed, etc.), pre-tax income, and home ownership status. I kept waiting to be asked for my social security number or other, more sensitive, information -- but that question never came.

When I got to the screen where I had to enter my name, AmONE let me know that all of my offers would be pre-approved.

All that I needed to do next was enter my address, and I received several loan offers. Indeed, the interest rates were lower than what I pay on my credit cards. My initial offers reflected the $5,000 sum I had requested, with APR (annual interest rate plus fees) around 17 percent.

I was also given some other loan options for dollar amounts up to $20,000.

Within a few minutes, I started getting emails from the loan companies who had pre-approved me.

Given that I decided not to go with my offers right now, time will tell if I continue to get inundated with emails. The prospect is a bit annoying, but at the same time is to be expected when requesting quotes from just about any insurance or banking institution. Based on my personal experience, searching on AmONE is similar to using LendingTree to get loan offers.

How AmONE works

As mentioned above, AmONE is not a bank or lending institution. Instead, it uses software technology to pair users with lending partners and hand you off to an institution that will fund your loan. You may or may not also be presented with credit card offers as well. Searching on the site does not affect your credit score.

The three main categories of financial assistance that will show up in your search results include:

• Loans: AmONE connects users with loans for a variety of purposes, from personal loans to start-up business loans. They offer both secured and unsecured loans for people with a range of credit scores. Secured loans require offering collateral, which makes the loan riskier for borrowers, because the lending institution can seize the collateral if you default. Collateral could include physical assets or a savings account balance.
• Debt consolidation: AmONE provides customers with a range of debt consolidation services depending on their needs. For those with good credit or excellent credit who just want a lower interest rate, the company provides offers from debt consolidation lenders. Debt management services are also available for those who don’t qualify for a loan, and debt relief is available for people who are significantly struggling to get out of debt.
• Credit cards: AmONE also helps people compare offers from various credit card issuers. The search company streamlines the process by showing you which cards you’ll likely be eligible for so you can better guess your approval odds before you actually apply.

Loans at AmONE

Interest rates and loan amounts may vary widely depending on your specific situation. Be sure to check your credit score before you apply so you have an idea about what to expect. If you’re a borrower with a high credit score, ignore offers with an interest rate that is significantly higher than the prime rate. The prime rate is informed by the Federal Reserve's federal funds overnight rate, and it is typically what banks offer consumers with excellent credit. AmONE works with a variety of lending partners who provide the following types of loans:

• Auto loans, refinancing, and auto repair loans
• Credit-building loans
• Small business and start-up loans
• Debt consolidation or pay off loans
• Personal loans for extra cash/cushion or a large purchase
• Home buying, home improvement, or refinancing loans
• Investment loans
• Medical/dental loans
• Moving or relocation loans
• Student loans or refinancing
• Loans to pay taxes
• Loans for emergency expenses
• Loans for vacation/travel or weddings

AmONE presents customers with loans ranging from $1,000 to $100,000, with the amount and interest rate dependent on the borrower’s credit score. It’s worth noting that AmONE says most personal loans applicants are only approved for up to $50,000, but “a few” lenders offer up to $100,000. You’ll also need to answer some questions about your employment status, income, and location to be matched with the right offers.

Once you get offers, the lenders will begin to reach out to you. Since the quote you received on AmONE is not legally binding, the lender could technically change some of their terms after the fact. This may happen if your credit score changes or your income is verified at a lower amount than you self-reported.

Be sure to look for any discrepancies between the quote you received on AmONE and your loan agreement before you sign on a dotted line. Unlike a quote, your loan agreement will be binding.

Debt consolidation loans at AmONE

AmONE offers debt solutions for people with any credit score and any amount of debt. For those not eligible for a debt consolidation loan, AmONE can also help borrowers find credit counseling, debt settlement plans, and debt relief programs.

Debt consolidation loans are best for people with good or excellent credit, but people with any credit score are invited to look at their options. These loans allow you to pay off your credit cards using the loan funds so you just have one payment instead of multiple card payments. They are designed to get you out of debt faster with a lower interest rate than your credit card’s APR. Debt consolidation loans don’t require any collateral.

Credit cards at AmONE

AmONE partners with CardRatings to show you personalized offers based on your credit score. After you input your credit score, you can also filter your results by card type (cash back, balance transfer, etc.) and card issuer if you have a preference. You’ll find both secured and unsecured options through CardRatings, so even if you have bad credit, may be presented with card offers.

Something to consider about accepting a credit card instead of a loan is that cards are classified as revolving credit, and may not be seen as favorably as a low-interest personal loan by credit agencies.

FAQ

Bottom line

AmONE could be a good place for just about anyone to get more information about personal loans, as long as you are open to working with online lenders. You won’t get matched with Bank of America or Wells Fargo here, so if you’re looking for a traditional bank loan, you’ll need to contact a big name bank directly.

If you need money fast from an alternative lender, the search site could quickly help you find a lender for credit card consolidation, auto financing, home renovation funding, and more. I especially liked that the soft pull to my credit will not impact my credit score.

I found the search process to be fast and easy with AmONE, and customer service reps are there to answer any questions about how to get a loan or which lending partner might be the best fit for your situation. I didn’t use this feature, but most reviewers on TrustPilot seemed to have good experiences with these reps. Unfortunately for the introverts of the world, the site did not present me with a live chat agent.

If you're not sure that AmONE is the right fit for you, though, there are other options. Check out our SoFi loans review to see what they offer.