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Does Capital One do personal loans? Not anymore, but here are 4 alternatives

Capital One discontinued personal loans, but here are some alternatives with competitive rates for a range of credit scores.

Capital One offers business and auto loans, but it discontinued its personal loan product. However, you still have plenty of other options, including competitive offers from online lenders and national banks in addition to smaller banks and credit unions.

4 top alternatives to Capital One personal loans

Consider these personal loan lenders that offer loans for a variety of financial needs with competitive rates.

Best for comparing rates

MoneyLion personal loans

8.5 Great

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MoneyLion is a free service that connects you with top lenders to find a personal loan tailored to your needs, whether for home improvement, debt consolidation or unexpected expenses. Loans range from $500 to $100,000 with a variety of loan terms. Interest rates vary depending on the lender, your credit score, income and other factors. MoneyLion also has partners that can help borrowers with less-than-stellar credit gain access to loans.

To get started, complete the quick and easy online application that won't impact your credit score. You'll receive multiple options based on your eligibility and requirements. These options allow you to easily compare rates, terms and monthly payments.

However, reviews of the company are mixed. While Trustpilot and BBB reviews rate the company highly, there's also a BBB alert due to an ongoing pattern of complaints.

Min. credit scoreVaries by lender
APRVaries by lender
Loan amount$500 to $100,000
  • Not available in: Colorado, Connecticut, New York, Vermont, West Virginia

Best for a speedy turnaround

LightStream personal loans

9.7 Excellent

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LightStream offers loans with competitive rates starting as low as 6.99% and no origination or other fees. Plus, if you're looking for a fast lender, funds could be available as soon as the same day you apply. You can also take advantage of its Rate Beat Program and generous 0.5% APR discount for signing up for autopay. But you'll need good to excellent credit to qualify for a LightStream loan. And loan amounts start higher than average, which isn't ideal for smaller emergencies.

Min. credit scoreGood to excellent credit
APR6.94% to 25.79%
Loan amount$5,000 to $100,000
  • Not available in: Iowa, West Virginia

Best for borrowing from a large bank

Wells Fargo personal loans

7.3 Great

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If you prefer working with a lender face to face, you might want to consider Wells Fargo. It offers a wide range of borrowing amounts, competitive rates and terms as long as seven years. And it's fast for a traditional bank — you could get your funds as soon as the next business day after approval. But to qualify for a personal loan, you must have an existing Wells Fargo account for at least 12 months.

Min. credit scoreVaries
APR6.99% to 24.49%
Loan amount$3,000 to $100,000
  • Available in all states

Best for borrowers with fair to good credit

Best Egg personal loans

8.6 Great

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Best Egg offers personal loans up to $50,000 with more lenient credit requirements than some lenders. It's known for its good customer service, easy application process and fast funding. It also has secured and unsecured loans and opportunities for rate discounts, such as authorizing the lender to pay your creditors directly. But Best Egg charges origination fees up to 9.99%, it's not available in every state and minimum loan amounts are higher in some states.

Min. credit score640
APR7.99% to 35.99%
Loan amount$2,000 to $50,000
  • Not available in: Iowa, Vermont, West Virginia

How we picked these lenders

When choosing the best alternatives to Capital One, we looked for lenders with wide state availability and a range of borrowing amounts. We also considered how easy it is to apply and potential interest rates.

Why doesn’t Capital One offer personal loans?

Like many big banks, it doesn’t come as much of a surprise that Capital One no longer offers personal loans. This change could be part of the larger trend of big banks moving away from personal lending, or it could be that Capital One wants to focus on what it’s best known for: credit cards. In fact, it also previously discontinued its mortgage program in 2017.

Does Capital One offer other loans?

Capital One has a limited selection of financial products, including:

  • Auto loans
  • Business loans
  • Personal credit cards
  • Business credit cards

What credit score do I need to qualify for a personal loan?

For many online lenders, you’ll need a fair credit score of at least 600 to qualify. Banks, credit unions and larger online lenders typically require good to excellent credit to qualify. If you’re not sure whether you meet a lender’s minimum credit score requirement, reach out to its customer service team before you apply.

Compare more personal loans

Product Finder Score APR Min. credit score Loan amount
Finder score
7.99% to 35.99%
640
$2,000 to $50,000
Fast and easy personal loan application process. See options first without affecting your credit score.
Finder score
6.94% to 25.79%
Good to excellent credit
$5,000 to $100,000
Borrow up to $100,000 with low rates and no fees.
Finder score
6.94% to 35.99%
Fair to excellent credit
$1,000 to $200,000
Get personalized prequalified rates in minutes and then choose an offer from a selection of top online lenders.
Money logo
Finder score
8.99% to 29.99%
620
$5,000 to $50,000
Consolidate debt and more with these low-interest loans. Cosigners welcome.
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What is the Finder Score?

The Finder Score crunches 6+ types of personal loans across 50+ lenders. It takes into account the product's interest rate, fees and features, as well as the type of loan eg investor, variable, fixed rate - this gives you a simple score out of 10.

Read the full Finder Score breakdown

Bottom line

As with many other big banks, Capital One personal loans are no longer an option. Consider other top personal loan lenders that may be able to offer both speed and the right loan amount. You may also look into a lending marketplace, where you can plug in your eligibility details and get matched with lenders offering exactly what you need.

Megan B. Shepherd's headshot
To make sure you get accurate and helpful information, this guide has been edited by Megan B. Shepherd as part of our fact-checking process.
Lacey Stark's headshot
Written by

Writer

Lacey Stark is a freelance personal finance writer for Finder, specializing in banking, loans, investing, estate planning, and more. She has 20 years of experience writing and editing for magazines, newspapers, and online publications. A word nerd from childhood, Lacey officially got her start reporting on live sporting events and moved on to cover topics such as construction, technology, and travel before finding her niche in personal finance. Originally from New England, she received her bachelor’s degree from the University of Denver and completed a postgraduate journalism program at Metropolitan State University also in Denver. She currently lives in Chicagoland with her dog Chunk and likes to read and play golf. See full bio

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2 Responses

    Default Gravatar
    DavidSeptember 12, 2018

    I applied for a loan and they told me in order to get the money i need to pay 300$ to capital one to raise my credit score as soon as i pay the money the loan will be released into my bank answer am trying to find out is that possible or not

      Default GravatarFinder
      JoshuaSeptember 13, 2018Finder

      Hi David,

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

      There are lenders who only lend money to people who have a good credit score and Capital One is among them. If this is one of the requirements of Capital One, then you have to comply with them to get approved. If not, you have to go elsewhere. This page lists some of your alternatives.

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

      Have a wonderful day!

      Cheers,
      Joshua

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