Tips and Advice

Is AmOne Legit? How to Tell If a Loan Company Is Legitimate

Is AmOne legit? Learn how to tell if a personal loan company is legitimate and how to avoid scams when applying for loans online.
A woman wears a serious expression while looking for a legitimate personal loan on her computer tablet
By Gina Freeman
Updated on: November 7th, 2022

If you’re looking for a fast personal loan from a legitimate company, you have a lot of choices. And while online personal loans are quick and convenient, some of them are from companies you’ve probably never heard of.

If you’ve never heard of AmOne, you might be wondering: Is AmOne legit?

Learn about AmOne and find out how to know which personal loan companies are legitimate and which ones might be scams.

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Is AmOne Legit?

AmOne is a legitimate, free service that matches consumers to real direct lenders in their states. You fill out one application through our easy form, which is used to match you with direct lenders who take your application and fund the loan. AmOne helps you find lenders that work with borrowers similar to you and offer the loans and terms you want.

You can check AmOne’s reviews on sites like Trustpilot and Trustlink to verify the experiences of real consumers.

Does AmOne charge for its services?

AmOne’s service is free to consumers. AmOne’s lender partners disclose their fees and do not charge fees upfront.

You will only be charged the customary fees associated with getting a loan once your loan is approved through one of our loan partners.

Does AmOne run a credit check?

AmOne only performs a “soft credit pull” to provide the best credit offers for your needs. You can see interest rates without having a credit inquiry. That’s better than going directly to several lenders and getting multiple “hard credit pulls,” which does drop your credit score.

We are experts at helping people at all ends of the credit score spectrum find loans.

Does AmOne hurt your credit?

Using AmOne does not harm your credit. However, completing an application for credit with a lender requires a “hard credit pull,” which drops your credit score a few points.

Using a service like AmOne can keep you from applying with multiple companies that might not approve applicants like you or offer the terms you want. This can help protect your credit score.

Does AmOne keep your personal information on file?

In general, AmOne retains consumer data for as long as is needed to connect them with lender partners who provide information about the products and services they are seeking. This time is typically 30-180 days. And they usually keep an archived copy of that data for six years as required or permitted by law for legal and compliance purposes. You can view AmOne’s privacy notice for more information.

6 Signs of Legitimate Loan Companies

Legit lenders all have a few crucial traits in common. AmOne is here to ensure that any loan you obtain through our process is a legitimate loan from a real lender that is licensed to do business in your state.

Here are the signs of legitimate loan companies and what you should look for.

1. They check your credit

If you’re concerned about your credit history or are just in a hurry, you might be tempted by offers of “personal loans with no credit check” or “loans with guaranteed approval.” But legitimate personal loan providers always require an application and a credit check. That’s because most personal loans are unsecured — there is no car to repossess or home to foreclose on if you fail to repay the loan. Your credit rating tells the lender how likely you are to keep your promise to repay.

These “loans with no credit check” are not personal loans. They are payday loans, check advance loans, or auto title loans. While they may be the only option for borrowers in a dire emergency, it’s important to remember that many of those loans carry an average interest rate of nearly 400%. Personal loans are a better option for most people.

2. The FTC knows them

By law, lenders must register with the Federal Trade Commission (FTC) to do business. Look on the lender’s website to see in which states it’s licensed to give loans. You can also verify licensing with your state’s attorney general or financial services division.

If a lender is offering you a loan but is not licensed in any state, you may be dealing with a scam company.

That’s where AmOne comes in. AmOne matches borrowers with licensed providers in their state. When you complete an inquiry form on the site or call a financial services specialist at 1-800-781-5187, you can ensure that the lenders selected are licensed and legitimate.

3. They don’t charge upfront fees

Lenders that require applicants to send a prepaid debit card to get online personal loans are scammers, plain and simple. Prepaid debit cards are practically cash and virtually untraceable.

Legitimate financial institutions can charge application, appraisal, or credit report fees, but they disclose them upfront and deduct them from your loan proceeds. If a lender does not disclose its fees or requests upfront money for “processing,” “insurance,” or “paperwork,” don’t do business with it.

4. They have a physical address and a secure website

Scam lenders don’t disclose a physical location or only have a P.O. box. Look for lenders with offices where business is conducted and plug the address they give you into Google Maps. Some scammers list addresses that are vacant lots or space that belongs to a different business. While many legitimate personal loan companies do not have physical branches, they should still have a place of business listed on their website.

Legitimate loan company websites are secure. You can tell if they are by looking for a padlock symbol on any pages where you would input personal information. In addition, the site URL should begin with “https” instead of just “http.”

If the site is insecure, your information is not protected from identity thieves and other criminals.

5. They don’t apply pressure

Legitimate lenders may give you deadlines for accepting a loan offer. That’s usually because underwriting guidelines can change over time, and so do interest rates. However, you will probably have at least a week to decide if you want to accept a loan offer.

If the lender wants you to commit to a loan immediately, it may be a scam. Offers that expire in a day are often not legitimate.

6. They get good consumer reviews

If other consumers have terrible experiences with a lender, you want to avoid that lender, but how do you know which ones are bad? The Better Business Bureau, Yelp, Trustpilot, and Trustlink are all excellent places to check when verifying the legitimacy of a lender.

AmOne Teams Up With Legitimate Lenders to Find Your Best Loan

Our free, secure loan matching service helps individuals and small business owners find great loans from companies who are eager to help and want your business. AmOne has teamed up with trusted, expert lenders who have loans available for most purposes and credit situations.

Complete our short form or call toll-free at 1-800-781-5187 to be put in touch with our network of top-rated loan companies. Our AmOne loan matching specialists are available Monday through Friday from 9:00 AM to 9:00 PM and on Saturday from 9:00 AM to 5:30 PM Eastern time to answer your questions and provide you with solutions with no obligation.

Frequently Asked Questions (FAQs)

Does AmOne verify income?

You will need to provide basic information, including your income. When you narrow down your options and choose a lender, it may take a more in-depth look into your income by requiring a paycheck stub or some other proof of income.

Does AmOne check credit?

AmOne only pulls a “soft” credit check to find the best lender for you.

What does AmOne do with my personal information?

AmOne only uses your personal information to match you with a personal loan lender. We don’t store your personal information.