
Sign up & start saving!
Get our weekly newsletter for the latest in money news, credit card offers + more ways to save
Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.
Updated
As one of the largest banks in the US, Chase Bank is also a leading provider of home, business and auto loans. But with stricter eligibility requirements and a limited selection, it may not have everything you’re looking for.
Chase offers home, business and auto loans ranging from $5,000 to $5 million to cover your financial needs.
No. When you borrow from Chase, you have a limited selection of loan products to choose from. It doesn’t offer:
Chase only has branches in the following states:
After you apply for a loan, Chase calculates your interest rate based on your credit score, credit history and other factors. Chase then provides a loan estimate that itemizes your loan’s total cost, including the interest rate, fees, loan terms and other important details. The final cost will depend on your overall creditworthiness and other factors, including your income and current outstanding debt.
Yes. Chase uses 128-bit encryption, which scrambles your information to make it more difficult for hackers to intercept. It has a whole page dedicated to your privacy and security, which details how Chase keeps the data you enter on its website private. In addition, there are also resources on what you can do to remain safe while browsing online.
If you encounter any problems with the website or application, you can call Chase’s customer service team.
Chase’s online reputation isn’t great. Remember the subprime mortgage crisis? JP Morgan Chase & Co. was involved. In 2013, it reached a $13 billion settlement over its mortgage practices. That settlement doesn’t have much to do with loans it directly offers, but its reputation as a financial institution hasn’t totally recovered.
That might explain why it’s not accredited with the Better Business Bureau — alarming for such a large bank and gets an F rating based on over 200 customer reviews. And as of January 2019, it only has a 2.5 out of 10 on Trustpilot. Only one-third of borrowers rate it “Excellent,” while over half rate it as “Bad.”
Many reviewers complained about issues making repayments and didn’t like its frustratingly archaic way of dealing with problems. Its customer service got lukewarm reviews at best. Many reviewers felt Chase didn’t care enough about them and stated they’d be taking their business elsewhere.
The process varies by loan type, but you can follow these general steps:
To be eligible for a Chase loan, you must be:
You might have trouble qualifying if you’ve had any past bankruptcies, repossessions, foreclosures or other negative lines on your credit report. If you do have negative marks on your credit history, you must be able to show that you’ve consistently worked to rebuild it.
Applicants who are unsure about their chances of approval might want to take on a cosigner with a strong credit history.
Depending on what type of loan you took out, there might be a few more steps you need to take. If you have a mortgage, you might need to purchase a home; if you have a car loan, you might need to go buy a car. Your point of contact at Chase should be able to walk you through these final steps.
Once your money is disbursed, you can set up automatic payments from your personal or business bank account. Keep an eye on your account and your loan’s balance, and contact customer service if you notice anything out of the ordinary. Chase’s general customer service line is 800-935-9935, but you can also meet with your point of contact at Chase if you have any questions.
Try to pay more than your loan minimum each month, which will lower the term length and see you paying less money on interest in the long run.
First, find out why your application was rejected: The typical problem areas are your credit score, income or debt, but it’s also possible you may have made a mistake during the application process. Take steps to pay off your debts, improve your credit score and look into other sources of income if you want to cover all your bases.
Bank loans are more difficult to qualify for than ever. Instead of reapplying with Chase, you might want to look at other lenders that might be more lenient, like credit unions and online lenders. And if you need a loan quickly but don’t have time to improve your score, you can also consider some bad credit personal loan options to see if they fit your needs.
Chase may be able to quickly get you the money you need for a car, your small business or a new home. However, if your credit isn’t ideal, you may pay higher interest rates on these loans — or not qualify at all. And if you want a personal loan or student loan, you’ll have to visit another lender.
Before you borrow, compare your car loan, mortgage and business loan options to see how Chase stacks up against the competition.
Chase auto loans feature high amounts and reasonable rates, depending on your credit score.
Boost or improve your business with a business term loan from Chase Bank. Compare pros and cons, and review eligibility criteria of top business lenders.