[Warning Government Action] Chase Personal Loans Review (2020)
By Mark B. Huntley, Esq.
Last Updated 01/01/2020
Summary: At this time Chase does not offer personal loans and if they did, they'd come with the lowest rated customer service in the industry and a recent stomach turning settlement for discriminatory lending practices.
Chase Bank has been around since 1877 and offers a wide variety of loan products and financial services. There is no charge to apply for a Chase personal loan and even non customers can get a chase personal loan application.
Quick & Easy To Apply With Instant Pre-Approvals
If we could give them 0 stars we would!
If offered, they'd be fairly priced.
EASE OF USE
Everything could be done online.
Poor customer service and disorganized.
Credit Knocks Overall Star Rating:
Seemingly, there is a Chase Bank on every corner that offers multiple loan options and access to an excellent online financial education tool.
Chase Bank has a history of discriminatory lending practices based on race and national origin which would be enough for some people to consider another bank for their personal loan needs.
Chase Banks customer reviews and ratings are extremely troubling with complaints of slow loan approval, poor customer service, and 30+ minute hold times.
And if those reasons weren't enough for you to find another personal loan lender...
Probably because you are wondering, 'Does Chase offer personal loans?'
Chase Bank does not offer unsecured personal loans at this time, however, click on the button below to see our top rated personal loan options.
Who Is Chase Bank?
Chase Bank is a subsidiary of JP Morgan & Co, the international banking and financial services juggernaut.
JP Morgan Chase was founded in 1877 by John Thompson when he started Chase National Bank.
Since that time, Chase National Bank has been through many name changes, mergers, and acquisitions.
Today JP Morgan Chase is the largest bank in the U.S. with over 5,100 branches, 16,000 ATMs, and 250,000 employees.
What Makes Them Different?
It is not uncommon for large banks to not offer unsecured personal loans.
A nice offering would be Chase Bank personal loans for bad credit but unfortunately they do not offer any unsecured personal loans at this time.
Personal loans Chase not offering this product is unfortunate for their members who may need a personal loan for an emergency and will have to look elsewhere.
If you were looking for a Chase personal loan rates, don't be discouraged, there are many other lenders out there, check out our top rated personal loan companies by clicking the view rates button below.
Does Chase Offer Personal Loans?
Here's a great question, 'Does Chase Offer Personal Loans?'
No. They do not.
There are no chase personal loans offered at this time.
We have included a link to view the rates from our top rated personal loan company in this review since they do not.
If you are looking for personal loans chase bank than you will need to speak with them about offering this product to their customers in the future.
Although, if you read this entire review, you probably would be better off using another lender anyhow.
Can I Get A Debt Consolidation Loan Chase Bank?
Unfortunately, a debt consolidation loan chase is just another name for personal loan which they do not offer.
Debt consolidation loans sometimes make a lot of sense if your existing loans APR are higher than the personal loans offered interest rate.
If you can successfully consolidate your debt into a personal loan that you can save a lot of interest and put that money back into your pocket.
It also can save you a lot of time from having to pay multiple credit cards each month when you can just pay one debt consolidated personal loan each month.
How Does Chase Personal Loans Work?
Chase Personal Loans work in the fact that they don't work because Chase does not offer them.
Chase bank personal loans for bad credit would be a nice program for them to offer in the future.
Luckily, there are many lenders out there who specialize in personal loans for bad credit that you can access by clicking on the view rates button.
Until that time, our top rated personal loan lenders work in the following way...
1. Find Your Rate
The first thing you do is select "Personal Loans" and fill out the short form. It takes about 1 - 2 minutes to enter your information.
You need to provide basic information and financial income, as well as the amount of the personal loan you are looking to apply for.
And guess what:
Our top lenders do not check your credit score to get lender offers, they only do a soft credit check.
This means you get to see what rates you can qualify for without the worry of it affecting your credit.
You would find your Chase Bank personal loan rates at this time if they offered personal loans.
2. Compare Your Options
Once you put your information in and submit the form you will be taken to a dashboard.
This dashboard will have multiple pre-approval offers from different lenders.
The personal loans rate chase is nothing new, everyone wants to get the best rates and with our top lenders you will have multiple to choose from.
Keep in mind, these are Pre-Approvals and your actual approval is not guaranteed; however, you will get to see your actual pre-qualified rates.
The rates you see are usually very accurate as long as you can verify your information and nothing changes on your credit report.
Once you confirm and verify everything the rates are pretty solid. The best thing is that you get to see your options up-front and know exactly which option is best for you.
3. Apply For Your Personal Loan
Once you pick a lender, it's time for you to apply. Unfortunately, you won't be able to apply for personal loan chase since they do not offer them at this time. During the application process, you'll get asked more in-depth questions about your use of the loan, your financial history, and the lender will run a credit check. *Note: This all happens on the personal loan website.
Once this step is done the lender will work with you directly to finalize all of the loan details.
Chase Loan Eligibility
In order to be eligible for our top lenders Personal loans you must meet at least these below requirements:
What Information Will You Need To Apply?
The chase personal loans application for pre-approval would include the same things that our top lenders request.
Before filling out the online form make sure you have the below information ready:
Chase Personal Loan (Basics)
Chase does not offer personal loans at this time.
However, our top lenders will let you see offers from multiple lenders, we wanted to show you the absolute minimum and maximums you can be offered. Actual rates and terms will change by lender.
Remember, once you pick a lender, they will pull your credit report and create a hard pull on your credit.
Chase Personal Loan Calculator
While there is no Chase does personal loan calculator, you can use our top lender's Personal Loan Calculators to help determine the payment amounts based on interest, length of personal loan and amount borrowed.
The interest rate will be determined primarily by your credit score and your ability to repay the the personal loan.
Their calculator lets you adjust the different loan variables to give you a good understanding of how each affects your monthly payment.
As you increase the length of the loan the monthly payments decrease.
If you are able to find a personal loan with a lower interest rate that will decrease your monthly payment amounts, also.
What To Use Chase Personal Loans For?
While Chase may not offer personal loans, there are several reasons you may need a personal loan and below we list out some of the reasons you may need a Chase personal loan:
As you can see, there is a huge list of reasons for getting a personal loan.
Of course our favorite reasons is for Debt Consolidation, Education, and Starting a Business.
Chase Bank Personal Loans For Bad Credit
We are regularly asked, 'Can I get Chase Bank personal loans for bad credit?'
Unfortunately, Chase Bank does not offer personal loans for bad credit but we do have a great relationship with a lender who does!
There are many lenders out there that will give you a personal loan with bad credit.
Keep in mind that many of them are going to charge an really high APR rate, so you may also want to consider getting a credit card for bad credit.
In any case, you can see the best rates available for personal loans for bad credit by clicking the orange button below.
Chase Personal Loan Reviews
Even though Chase does not offer personal loans, their reviews on other products are not so hot.
In fact, from reading their customers reviews, they may have the worst rated customer service in the banking industry.
Maybe you should be thankful that Chase doesn't offer personal loans?!?!
Chase Better Business Bureau Reviews
Chase BBB has had a file at the Better Business Bureau since 1923.
Unfortunately, they only have a D+ rating with a staggering 2748 complaints in the past three years (as of 9/23/2019).
Chase BBB complaints tend to be financial related with claims of fees being charged outside of the contract or loan payments continued to be debited from customers accounts after being paid off.
The Chase BBB Reviews generally point to a company that wants your business so long as it is all of the online and automated variety.
Chase BBB reviews and customer complaints are not taken seriously by the company as most go without a response which is why JPMorgan Chase Car Finance has a D+ rating.
Steps To Take After Chase Loan Approval
It feels great getting approved for something, no matter what it is, you feel like you have just won something.
But, after you have been approved, there are some things you should be doing with your accounts.
Make On Time Payments
I am sure you are tired of seeing everyone saying "on-time payments".
If your application goes to "Pending" status it doesn't mean Declined. Usually, more information may be needed.
But it is super important and is one of the largest factors in helping grow your credit score.
Of course you probably didn't obtain this loan for building your credit.
However, you still need to be mindful that this product can harm your credit if you don't manage it correctly.
No matter what, avoid late payments.
Pay Back The Loan ASAP
Along with making on-time payments you should definitely pay this loan off as super fast as possible.
Large personal loans tend to linger and we usually only pay the minimums.
While this does keep more cash in your pocekt in the initial phase, eventually you end up spending thousands of more dollars in interest payments.
Getting the credit utilization below 30% will also be great for helping your credit score grow.
Taking Action & Getting A Loan
Hopefully, you found this Chase Personal Loans Review to be helpful because Personal Loans are a great option to pay down debt, or even start a business.
If you need a personal loan then don't waste any time getting your loan through anyone but Chase Bank.
You can click the link below to complete your application process and get a loan in under 2 minutes through our top rated personal loan companies.
Editorial Note: The editorial content on this page is not provided or commissioned by any financial institution. Any opinions, analyses, reviews, statements or recommendations expressed in this article are those of the author’s alone, and may not have been reviewed, approved or otherwise endorsed by any of these entities prior to publication.