BBVA Compass Express Personal Loan review 2018 | finder.com
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BBVA Compass Express Personal Loans review

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This bank offers loans of up to $100,000 with quick turnaround after you’re approved.

BBVA Compass is among the nation’s 25 largest banks, with some 700 locations in seven states. If you’re looking for a large personal loan, its Express option could be exactly what you need. But you’ll have to pay a surcharge fee and you may receive an APR of almost 30%.

What makes a BBVA Compass Express Personal Loan unique?

BBVA Compass’s loyalty discounts, high loan amounts and competitive rates set it apart. These might be all possible because BBVA Compass is one of a handful of banks that actually offers personal loans. If you qualify, you may be able to borrow a large amount of money at less cost than with a credit card.

However, BBVA Compass only has branch locations in Alabama, Arizona, California, Colorado, Florida, New Mexico and Texas, which limits your ability to qualify for the largest amounts. And if you don’t have a reservation code, you won’t be able to apply online. Even with one, you can only borrow up to $35,000 out of state.

More about BBVA Compass

What is a BBVA Compass Express Personal Loan?

A BBVA Compass Express Personal loan is an unsecured loan from $2,000 to $100,000 — one of the larger personal loan options out there — with a loan term between 12 to 72 months. APRs rates range between 5.99% to 29.99%, and with a qualified BBVA Compass checking account, you can save 1% off your APR if you sign up for automatic payments.

You can apply online, over the phone or in-person at a branch. You can use your loan funds for just about anything, and best of all, you may even be able to get same-day funding if your loan is deposited into a BBVA Compass checking account.

How much can I expect to pay for a Signature Express Loan with BBVA Compass?

According to the bank, a 12-month loan for $2000 at 35.06% APR will result in 12 monthly payments of $193.98 each. This result does not include an interest surcharge of $60 payable at closing.

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Rates last updated December 15th, 2018

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Unfortunately, none of the personal loan providers offer loans for that credit score. If you are in urgent need of a small loan, you might want to consider a short term loan.
Name Product Product Description Min. Credit Score Max. Loan Amount APR
Even Financial Personal Loans
Get connected to competitive loan offers instantly from top online consumer lenders.
550
$100,000
3.84% to 35.99% (fixed)
Credible Personal Loans
Get personalized rates in minutes and then choose a loan offer from several top online lenders.
Good to excellent credit
$100,000
4.99% to 36% (fixed)
LendingClub Personal Loan
A peer-to-peer lender offering fair rates based on your credit score.
660
$40,000
6.95% to 35.89% (fixed)
Monevo Personal Loans
Quickly compare multiple online lenders with competitive rates depending on your credit.
550
$100,000
3.34% to 35.99% (fixed)
NetCredit Personal Loan
Check eligibility in minutes and get a personalized quote without affecting your credit score.
550
$10,000
34% to 155% (Varies by state) (fixed)
SoFi Personal Loan Fixed Rate (with Autopay)
No fees. Multiple member perks such as community events and career coaching.
680
$100,000
7.24% to 15.24% (fixed)
Marcus by Goldman Sachs Personal Loans
Consolidate your debt or pay off large expenses with competitive rates and no fees.
Good to excellent credit
$40,000
6.99% to 24.99% (fixed)
OneMain Financial Personal and Auto Loans
An established online and in-store lender with quick turnaround times. Poor credit is OK.
Varies
$30,000
16.05%–35.99%* (fixed)
Avant
Conveniently check your loan options without affecting your credit score.
580
$35,000
9.95% to 35.99% (fixed)

Compare up to 4 providers

What are the benefits of a BBVA Express Personal Loan?

  • Large loan amounts. BBVA Compass has one of the largest loan amounts out there. It’s hard to beat the spending power of $100,000, but you’ll have to meet stringent requirements to qualify.
  • Rate discounts. Save more with autopay from a BBVA Compass checking account, which knocks 1% off your APR, or by signing up with the Premier Personal Banking Program at the time the loan is finalized for 0.25% off the APR rate.
  • Potential same-day funding. If you already have a BBVA Compass checking account, you may be able to receive your loan funds on the same day you’re approved.

What to watch out for

  • High APR. If you have poor credit, you could face an APR as high as 29.99%.
  • Surcharge. You’ll pay a surcharge of $60 for loans from $2,000 to $9,999 and $120 for loans of $10,000 or more.
  • Limited online application. You’ll need a reservation code to apply online, and even then, you’ll only be able to borrow up to $35,000 — not the $100,000 maximum that borrowers who apply at a branch or over the phone can get.

Am I eligible?

To be approved for an Express Personal Loan with BBVA Compass, you must

  • Live in one of BBVA Compass’s serviced states
  • Be at least 18 years old
  • Be a US citizen or permanent resident

How do I apply?

You can apply for a BBVA Compass Express Personal Loan one of three ways: online, over the phone or at a branch, but you’ll need a reservation code to apply online. When you do, BBVA Compass will perform a soft credit pull that won’t affect your score.

In addition to some basic information about yourself, you’ll need to supply BBVA Compass with

  • Your Social Security number and date of birth
  • How much money you want to borrow
  • How you plan to spend your loan funds
  • Information about your current employment and income

BBVA Compass will review your application and give you a preview of your potential terms if you qualify. Generally, you can choose from one of a few loan setups that best suits you. After, you’ll complete the application, which will result in a hard pull of your credit. If you’re approved, you may be able to receive funding on the same day.

I got a BBVA Compass Express Personal Loan. Now what?

Once you have your loan, consider setting up autopay to avoid late payments and receive the 1% interest rate discount. If you run into any problems paying your loan or have questions, you can contact customer service by calling at 1-800-239-1996, sending a secure form online or requesting customer service contact you online.

Bottom line

BBVA Compass Express Personal Loans can get you the money you need for just about anything you need it for. Quick turnaround and a lump-sum payment of up to $100,000 are just a few of the benefits that come with borrowing from this large bank.

But if you’re not in BBVA Compass’s seven-state service area or don’t have the best credit, you may want to compare your loan other options to find a better deal.

Frequently asked questions

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US Personal Loans Offers

Important Information*
Credible Personal Loans

Get personalized rates in minutes and then choose a loan offer from several top online lenders.

Even Financial Personal Loans

Get connected to competitive loan offers instantly from top online consumer lenders.

LendingClub Personal Loan

A peer-to-peer lender offering fair rates based on your credit score.

SoFi Personal Loan Fixed Rate (with Autopay)

No fees. Multiple member perks such as community events and career coaching.

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10 Responses

  1. Default Gravatar
    MILTONNovember 26, 2018

    I have a low credit score because I had two surgeries in April and May and it cost me over 5000.00 that I had to pay and it caused me to get behind on some of my bills. I would like to try and borrow 3000.00 and it would pay off all my bills and give me two notes to pay per month which would be the bank and my car note. I do have deposits of 3425.00 and 1090.00 coming to the bank per month and these could automatically be deducted from my account plus I am 100% disabled and trying to buy my first home.

    • finder Customer Care
      JoshuaNovember 26, 2018Staff

      Hi Milton,

      Thanks for getting in touch with finder. I hope all is well with you. :)

      I’m sorry to hear about your situation. If you deemed BBVA Compass Express as a lender that fits your needs, you would need to directly get in touch with them to discuss your eligibility.

      However, given with your situation, having a bad credit score, your options might be limited. We have a guide to help you get a loan even if you have a bad credit score. You can read it here. On that page, you will also see a table that allows you to conveniently compare online loans with bad credit. Once you found the right one for you, click on the “Go to site” green button to learn more or initiate your application.

      Please make sure that you’ve read the relevant T&Cs or PDS of the loan products before making a decision. Moreover, check the eligibility requirements as well and consider whether the product is right for you.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!

      Cheers,
      Joshua

  2. Default Gravatar
    RoyAugust 20, 2018

    I signed all my docusign papers when will i receive my loan amount qualified for via mail?

    • finder Customer Care
      AshAugust 20, 2018Staff

      Hello Roy,

      Thanks for contacting finder.

      If you have been approved for a loan, the loan amount will be deposited to your account immediately or the same day that you submitted your application.

      Also, you may check the availability of BBVA Compass as it seems that it is not available in your state. Currently, it is only available to the following states: Alabama, Arizona, California, Colorado, Florida, New Mexico or Texas. You may compare the other Short Term Lenders at this page then click on the green “More” to know the details of the loan or the “Go to site” button to be redirected to the Lender’s site and submit your application. Before submitting your application, kindly check the Lender’s eligibility requirements as well as the Terms and Condition to ensure that it is the right loan for you.

      I hope this helps.

      Let us know if there is anything else that I may assist you with.

      Cheers,
      Ash

  3. Default Gravatar
    KyleJune 4, 2018

    How long does it take to receive actual funds into bank account after sign up and approval have been gone through?

    • finder Customer Care
      JoshuaJune 5, 2018Staff

      Hi Kyle,

      Thanks for getting in touch with finder. I hope all is well for you. :)

      If you’re referring to BBVA Signature Express Loans, you could see your funds immediately on the same day you were approved. If you didn’t get your money, you may want to directly get in touch with them to check the status of your loan.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!

      Cheers,
      Joshua

  4. Default Gravatar
    JimonieNovember 30, 2017

    I want to get a BBVA express loan to clear some debts to start repaying credit and little things I need to get for a financial good start but my credit score is low.

    • finder Customer Care
      RenchNovember 30, 2017Staff

      Hi Jimonie,

      Thanks for your inquiry. Please note that we are not affiliated with BBVA or any company we feature on our site and so we can only offer you general advice.

      If you are referring to BBVA Signature Express Loans, please contact them directly by visiting their official site and submit an online application.

      You can also have a look at this page for more helpful info about debt consolidation. Consolidating your debt could make your life a lot easier by putting it all in one place. Use this guide to learn how consolidation can free up your budget, what types of debt you can consolidate and what to consider before you take it on.

      While on this page, you may also compare your options for bad credit loans.

      Best regards,
      Rench

  5. Default Gravatar
    Butterfli37September 29, 2017

    If you already have one loan with bbva compass, can you get a second one?

    • Default Gravatar
      GruOctober 1, 2017

      Hello Butterfli37,

      Thank you for reaching out to us.

      It depends on BBVA Compass. They may or may not approve a second loan for you.
      Just to set your expectations, one option that perhaps may be available is to top-up or add to your existing loan; for which you would still have to contact them directly.

      Alternatively, you may check your other loan options here.

      Hope this helped.

      Sincerely,
      Gru

US Personal Loans Offers

Important Information*
Credible Personal Loans

Get personalized rates in minutes and then choose a loan offer from several top online lenders.

Even Financial Personal Loans

Get connected to competitive loan offers instantly from top online consumer lenders.

LendingClub Personal Loan

A peer-to-peer lender offering fair rates based on your credit score.

SoFi Personal Loan Fixed Rate (with Autopay)

No fees. Multiple member perks such as community events and career coaching.

Go to site