Capital One personal loan alternatives
Big banks aren't your only option for getting the funds you need. Explore personal loans alternatives in the UK here.
What is Capital One?
Capital One is known globally for serving the fair and poor credit markets with loans and credit cards. However, it doesn’t offer personal loans in the UK. To make sure you can still pay for that dream wedding venue, new car or any other large personal costs, we take you through some other options.
Why doesn’t Capital One offer personal loans?
Capital One does not offer personal loans and recently ended its mortgage program as well. This could be part of a larger trend of big banks moving away from lending in general since the 2008 financial crisis. It also could be that Capital One just wants to focus on what it’s best known for: credit cards. Or, it’s possible the bank shifted its focus to experiments like the Capital One Cafe, a combination of a coffee shop and local bank branch meant to appeal to millennials.
What other options do I have?
If you feel let down by mainstream lenders, either because you don’t meet eligibility criteria or because your credit history is less than perfect, there are serveral lenders in the UK that offer invaluable access to credit. Lenders such as Lendable – a peer-to-peer lending service – provide fast, secure, personalised service that can provide an option when your credit is less than perfect. Requesting a quote takes just a few minutes and its soft credit search option means it will not affect your credit rating.
With an emphasis on building or rebuilding your credit history, specialist lenders often assess applicants more on how affordable a loan would be than their credit rating. However the downside is that because of the higher risk these loans represent to the lender, realistically, interest rates are likely to be significantly higher.
While these loans generally come with a higher interest rate, as they represent a greater risk to a lender, they are more readily available to people who might struggle to get finance through the regular lending streams.
What is Peer-to-Peer Lending
Peer-to-peer platforms cut out the institutional “middle man”, bringing together lenders seeking bank-beating interest rates and responsible borrowers. Because these companies don’t have the same overheads as big high street banks, they are sometimes able to offer better rates.
Compare personal loans for fair or bad credit
With no guarantor
With a guarantor
With a guarantor who is a homeowner
Late repayments can cause you serious money problems. See our debt help guides.
More guides on Finder
Bank of England interest rate predictions
Some of the UK’s brightest minds in economics and property share their interest rate predictions ahead of the next Bank of England base rate meeting.
Average personal debt in the UK
The average debt per person is estimated to be £34,546 in 2023. We explore the latest personal debt statistics in the UK.
Methodology for personal loan ratings
You’ll find customer satisfaction star ratings on some of our personal loans provider reviews. Here’s how we came up with them.
Bamboo unsecured personal loan review
Bamboo offers fixed-rate unsecured personal loans up to £8,000 without a guarantor.
How to refinance your personal loan
Paying too much in interest? Find out how you could save hundreds or even thousands by refinancing your personal loan to a lower rate.
What can you use a personal loan for?
From renovating your home to consolidating debt, discover different situations where a personal loan might help.
Personal loan vs credit card: Which is right for you?
We explain the key differences between personal loans and credit cards so you can choose the right option for you.
Personal loan brokers
If you want a personal loan that’s tailored to you, consider opting for a personal loan broker. A broker will find a loan you’re eligible for and help you throughout the process. Here’s how you can find a good one.
Social media and your loan application
Does what you “like” on Facebook influence how much you can borrow?
Compare dental loans
If you don’t have the money to pay for the dentist, why not consider a dental loan? Read this guide to find out what options you have to cover the costs of dental work, including surgery, and what lenders are available.