Chase Bank Personal Loan Alternatives - NerdWallet (2024)

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Chase Bank Personal Loan Alternatives - NerdWallet? ›

Citibank and Wells Fargo are two banks that offer personal loans. You have to sign up to be a bank customer, and there are minimum credit and income requirements. Features of a typical bank-issued personal loan: Credit score accepted: good to excellent.

Even if you have Chase credit cards, a Chase mortgage, and Chase bank accounts in good standing, you can't get a personal loan through Chase. Fortunately, you have many personal loan lenders to choose from.

The easiest banks to get a personal loan from are USAA and Wells Fargo. USAA does not disclose a minimum credit score requirement, but their website indicates they consider people with scores below 640, so even people with bad credit may be able to qualify.

Grace Enfield, Content Writer. The most likely reason why Chase doesn't offer personal loans is that personal loans are not profitable enough for the bank. Chase also offers other products to meet the borrowing needs of consumers and businesses, including a wide range of credit cards, auto loans and home loans.

Average credit score required for a personal loan

0^® of at least 660 and a FICO^® score of around 670. Don't know your score off the top of your head? No problem.

How hard is it to get a personal loan from Chase Bank? Chase Bank does not offer personal loans. However, for other loan types like mortgages, auto loans or HELOCs, approval depends on several factors, including credit score, income, debt-to-income ratio and loan amount.

If you struggle to get approved for a personal loan or need a loan in a hurry, products like emergency loan and payday loans may be appealing. All may come with higher interest rates and shorter repayment timelines than a standard personal loan.

What types of loans does Chase offer? ›

Chase 2/30 rule: Too many new cards in one month? Some credit card experts believe that Chase is also likely to decline new card applications if you have opened two credit cards within 30 days. This is known as the "2/30 rule." Because I had just opened two new cards, Chase was reluctant to let me open another.

Hardship personal loans are a type of personal loan that is designed to help you overcome financial difficulties. This type of loan is generally offered by small banks and credit unions, and has lower interest rates, lower maximum loan amounts, and shorter repayment periods than standard personal loans.

Credit score, income and debt-to-income ratio are the main factors lenders consider when reviewing applications. Paying down debts, increasing your income, applying with a co-signer or co-borrower and looking for lenders that specialize in loans within your credit band could increase your approval odds.

You will almost certainly have no problems qualifying for a $5,000 personal loan if you have a strong income and good credit. However, you may struggle to get approved if your income is inconsistent, you have a low credit score, or you have a considerable amount of debt already.

The ease of getting a $5,000 loan depends on your credit and a lender's specific approval requirements. Borrowers with higher credit scores are more likely to be approved for a broader range of loans and with better terms.

The minimum amount you can request for My Chase Loan is $500. The maximum amount you can request can vary based on your monthly spending, creditworthiness and other factors.

The main factor in determining if you qualify for a $10,000 personal loan is your credit history. You'll need a credit score of at least 670 before you apply. Lenders look at your debt-to-income ratio when deciding approval. A DTI ratio of 36% or lower is ideal.