Chase Personal Loans Review: Alternatives to Consider

Updated: 17th Oct 2021 Written by Drew Cheneler
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There are many reasons that you may need a personal loan. Maybe you’re redoing your kitchen and don’t have the cash up front. Maybe you’re building a deck.

Maybe you’re just a little behind on bills and want to clear them up before your credit score tanks.

Whatever your reason, personal loans are always a good option, especially if you have good credit.

It is common to want to stay with your bank when you need a personal loan. You know them, and they know you.

It only makes sense to go to a major bank, especially the bank you already use, to try to get a personal loan. Let’s examine Chase Bank’s loan options, as well as alternatives.

Does Chase Bank Offer Personal Loans?

Unfortunately, Chase Bank does not offer personal loans. However, they do offer other loans.

Auto Loans

If you want to finance the purchase of a car, Chase can help. They offer 48-to-72-month terms, and they also have relationships with many auto brands and a car-buying service that will assist you in getting discounts and fair pricing.

Mortgages

Chase has incredible mortgages because they have low origination fees and are fully transparent.

They give a lot of information on fees and costs, which helps borrowers understand what they’re getting themselves into.

Credit Cards

Chase offers an array of different credit cards. These range from personal or business cards to cards with benefits like cash back, airline miles, and rewards.

Credit cards are a good alternative to loans, especially if you can pay off your balance before too much interest gets in the way.

Chase Bank Personal Loan Alternatives

If you’re still set on getting a personal loan, there are many alternatives.

#1. Upstart

Upstart uses artificial intelligence and alternative data to give borrowers with fair or bad credit the opportunity to get a personal loan at a low rate.

There is no minimum credit score. Their estimated APR is anywhere between 5.38-35.99%. This varies by state.

The typical 3-year loan offered by Upstart has a 21.97% APR with 36 monthly payments totaling $35 per payment for each $1,000 you borrow.

APR is determined according to your credit, income, and other information you give in your loan application.

>> More: Upstart Personal Loan Review

#2. Avant

Avant requires a score of 580 or higher to qualify, so they are great for people with low credit scores.

Their APR ranges from 9.95% to 35.99%. Their administration fee can even reach as high as 4.75% of your loan total. This fee depends on things like your loan amount, your credit, and your loan period.

But if you qualify, your money comes quickly. Your personal loan will be funded within 1-3 business days, while other big lenders tend to take over a week.

Their loan amount ranges from $2,000 to $35,000. Their loan terms range from 24 to 60 months.

>> More: Avant Personal Loan Review

#3. Upgrade

Upgrade has a minimum credit score of 560, one of the lowest on the market. Their estimated APRs range from 5.94 to 35.47%. You can get a loan anywhere from $1,000 to $50,000. Their loan terms range from 2 to 7 years.

They offer both secured and joint loans, as well as many options for repayment terms. They also have a .5% discount rate if you set up autopay.

You can also get a significant discount on your rate if you use a checking account. Another discount you can get is if you use a direct payment to creditors on debt consolidation loans.

However, they charge a late fee as well as an origination fee.

>> More: Upgrade Personal Loan Review

#4. LightStream

With a minimum credit score of 660 and loans that range from $5,000 to $100,000, this is an incredible loan option if you have good or excellent credit and need to finance a large project. Their APR ranges from 4.49-20.49%.

They have no fees as well as competitive rates. You also get a discount for setting up autopay. They have a rate beat program as well as guaranteed satisfaction.

But you can’t pre-qualify on the website. You need to have several years of credit history. LightStream doesn’t offer direct payment to creditors with debt consolidation loans.

#5. Prosper Personal Loans

Prosper is an online peer-to-peer platform and gives personal loans to borrowers who have fair and good credit.

Their minimum credit score is 600. The estimated APR for these loans ranges from 7.95 to 35.99%.

They offer loans anywhere from $2,000 to $40,000. You have the opportunity to change your payment date and get a joint loan.

However, you don’t get a discount for setting up autopay. Funding can take a long time. There are late fees and origination fees. There are only two repayment term options: 3 or 5 years.

>> More: Prosper Personal Loan Review

#6. SoFi Personal Loans

SoFi is a great option for people with good or excellent credit due to its consumer-driven features.

They have a minimum credit score of 680. Their estimated APR is 4.99 to 19.63%, some of the lowest we’ve seen. Their loan amounts range from $5,000 to $100,000, so you can finance large projects if you qualify.

They have no fees and have an option for co-signing loans. They have an autopay discount, unemployment protection, and an app to help you manage your loan.

>> More: SoFi Personal Loan Review

#7. Best Egg Personal Loans

Best Egg offers personal loans for people who want to consolidate debt and secure a loan but lack other lenders’ features.

Their minimum credit score is 640. Their estimated APR is 5.99 to 29.99%. They offer loans ranging from $2,000 to $50,000.

They offer secured loans to homeowners and direct payment to creditors for debt consolidation loans.

However, they charge origination fees, there is no discount for autopay, and you only have two-term options- 3 years or 5 years.

>> More: Best Egg Personal Loan Review

Bottom Line: Chase Personal Loans Review

While Chase Bank doesn’t offer personal loans and only has auto loans, mortgages, and credit cards, there are many alternatives that may suit your needs.

There are many things to consider when searching for a loan. Now you know some different options and can choose the best one based on your needs.

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Drew Cheneler
Drew Cheneler

Drew is our Co-Founder and is a recognized Credit, Small Business, and Personal Finance Expert. He has been featured in CNBC, Fox Business News Section, The Huffington Post, Business.com, Moneyunder30, US Chamber of Commerce, and more. He is known for breaking down complex personal finance topics into action-oriented advice, so you can make the most of your hard-earned money. Drew attended the U.S. Coast Guard Academy where he majored in Business Management with a focus on Information Systems.