As one of the largest and most popular banks in the world, Chase is an obvious go-to choice for any financial product. In addition, their credit cards come with competitive rewards programs, and the bank’s customer service department is among the best.
You can open both checking and savings accounts while sometimes qualifying for a hefty sign-on bonus. Plus, they have an array of savings accounts with attractive APRs.
Chase also offers a range of consumer and business loans to help you finance major purchases in your life. If you’re thinking about purchasing a car or house or funding your college education, then Chase has some great options for you.
But the one area where Chase currently falls short?
That would have to be personal loans.
Does Chase do personal loans?
Unfortunately, the answer is no. As of this writing, Chase Bank does not offer personal loans to new or existing customers. It doesn’t even matter what your credit score is. So whether you’re looking for a bad credit loan or a good credit loan, Chase personal loans are not available at this time.
While you won’t be able to consolidate your credit card debt or finance your upcoming wedding with a Chase personal loan, other options are available to achieve your financial goals. Even if you have a bad credit history, there are plenty of ways to get the cash you need.
Where can you get a bad credit personal loan?
Online loan marketplaces let you receive multiple loan offers by completing a single application. Not only does this cut back on time involved with applying for more than one loan, but it also helps you compare offers easily.
They provide access to short-term financing opportunities for various credit types. In addition, they’re typically a smaller loan amount, so you can get quick funding for short-term emergencies.
And you won’t have to put up any collateral. The online loan marketplaces partner with online lenders offering unsecured personal loans. So you don’t have to worry about losing your car, truck, boat, or other personal property in the event you default on the loan.
Rather than racking up more credit card debt or pushing off essential car repairs or health procedures, consider all of your financing options. You might just find that you can get the loan terms you want from one of these loan marketplaces. We’ll walk you through each option so you can find the best personal loan for you.
Chase Personal Loan Alternatives
BadCreditLoans.com provides personal loans in small amounts, starting as low as $500 and going up to $10,000. Your repayment period depends on the lender. You could have a loan term as short as three months for smaller amounts or up to five years for a larger loan.
Here’s what you can expect for interest rates:
On the low end, you might be able to qualify for a 5.99% APR. On the high end, it could go up to 35.99% APR. Still, compared to the fees, interest rates, and quick turnaround times associated with payday loans, you could find a much better deal on your personal loan at BadCreditLoans.com.
Plus, you can still get quick funding. Once you sign your loan agreement, you can get the cash in your bank account as soon as the very next business day.
Here’s what you’ll need to qualify:
First, you’ll need to be at least 18 years old and be a U.S. citizen. Another requirement is to have a steady income over the last 90 days. It could be from a job but could also come from sources like your disability or other income.
There are no specific credit score requirements. Instead, its network of online lenders can review your entire loan application. From there, you could receive any number of loan offers, or potentially none at all. But even with bad credit history, you could qualify for a personal loan of up to $1,000.
Another option for a personal loan focused primarily on bad credit borrowers is PersonalLoans.com.
Loan amounts start at $2,000 and go all the way up to $35,000. This is a huge jump if you’re looking for much more substantial financing. Another key difference is that while loan terms start at three months, they can last as long as six years.
A longer term typically results in more interest paid over time. However, it can help monthly payments be more affordable — especially if you have a financial emergency.
They offer unsecured loans to borrowers in all 50 states. Approval and funding times are still fast, so if you do qualify and need your funds quickly, you’ll be good to go.
There are some requirements to be eligible for a personal loan:
In addition to being 18 years old and having a regular income, you also must meet a few credit requirements. For example, you can’t have a recent bankruptcy or a current account that is more than 60 days overdue.
No recent charge-offs are allowed, and you can’t have an ongoing history of late payments on your credit report. Some online lenders on the PersonalLoans.com marketplace also have some additional credit requirements.
These include a minimum credit score of 600 if you choose a peer-to-peer lender. For a personal loan or installment loan, you’ll need a 580 credit score.
Income requirements vary by lender and typically range between $2,000 and $3,000 per month. Your lender will need to verify your income, which can come from a job, Social Security, or disability payments.
What kind of Chase loan can you get?
If you’re still thinking about Chase and how you can utilize its financing programs, there are several loan types you can choose from. They offer auto loans, mortgages, and private student loans. If you need a loan in one of these areas, then Chase is a great option to explore.
The application process for these types of loans is typically longer than working with an online lender. But even within these three categories, there are plenty of options available to find the best pick. So let’s dig in to find out what you can expect when you apply for a Chase loan.
Chase offers various services when it comes to financing your vehicle. In addition to getting a new auto loan, you can also refinance an existing loan. Plus, Chase has partnered with TrueCar to provide a car buying service directly through their website. So essentially, you get help with the process from start to finish.
Using Chase’s car-buying platform, customers who bought new cars averaged a savings of $3,086 off the MSRP. You can also find used cars at great prices. Once you’re ready to finance, you can get a personalized rate quote.
Here is the information you’ll need to supply:
- Type of vehicle (new or used)
- Vehicle make
- Your state of residence
- Estimated credit rating (excellent, very good, good, or fair
- Loan amount
After you fill out the short form, you’ll receive an estimated interest rate and monthly payment amount so you can update your financial plan. If you’re already a Chase customer with some other type of account, you could qualify for a rate discount.
Chase does have a car loan limit:
You can only finance up to $100,000. Loan terms last between four and six years. Even if you don’t know exactly what kind of car you want, you can fill out what information you do have or call a customer service representative to get a quote.
If you need a specific home loan product, chances are that Chase can help you get the right one. Even if you don’t live in one of the 22 states with a Chase branch, you can still use them as your mortgage lender, no matter where you are.
Here are the types of mortgages offered by Chase:
Conventional, FHA, VA, and jumbo loans are all available. You can also choose between fixed and adjustable-rate mortgages, as well as a 15-year versus 30-year loan.
This broad range of loan types suit just about anyone’s needs. For example, if you live in California, even an average-priced home could be about the conventional limits. However, Chase can help you qualify for a jumbo loan.
Or, if your credit is below the usual cut-off or you don’t have a lot of money saved up for a down payment, you could benefit from an FHA loan. VA loans are great for military service members or veterans.
To help you weigh your options, take advantage of Chase’s team of home lending advisors. They’ll help you look at your financials and qualifications to see what kind of home loan is the best option.
With college tuition costing all but an arm and a leg, federal student aid often doesn’t cover the full cost of attendance. As a result, private loans make up a large portion of today’s student loan debt, which are funded by private financial institutions like Chase.
While Chase Bank does provide financing for both federal and private student loans, the bank doesn’t do the actual servicing. That means you need to reach out to American Education Services (AES) for questions about student loans, whether current or potential.
Here’s the contact information for AES student loans:
Phone: 1 (800) 233-0557
Hours: 7:30 a.m. to 9:00 p.m. (ET), Monday through Friday