Chase Bank is the largest bank in the United States in terms of assets. It offers a wealth of financial services to US citizens and its size means it can afford to be competitive and to undercut its rivals.
All of this should bode well when it comes to Chase personal loans. However, there is no such thing, because Chase Bank does not offer unsecured personal loans of any kind.
They are not alone in this. In fact, of the five biggest banks in the United States only two actually have some kind of unsecured personal loan, and even then, customers seem to prefer to take their business elsewhere.
There are a number of loans that you can get from Chase Bank, however, and there are also many viable alternatives out there if it is an unsecured personal loan that you need.
With Chase auto loans you can get finance on a brand new or used vehicle. This applies to cars, small trucks, SUVs, and pretty much anything that is roadworthy, with a few exceptions.
You can apply online, but you must make sure that the car is no more than five years old and that it has done fewer than 75,000 miles. If you want to refinance a vehicle outside of these limits then you can do so by phone or in branch, providing that it is no more than 10 years old and has done no more than 120,000 miles.
And if you want to finance a vehicle outside of those limits, well, you’re out of luck.
You can borrow as much as $2 million with Chase home loans, but each mortgage type has its own limits and its own rules, so the actual amount you are allowed may be a lot less.
Mortgages at Chase begin with an APR of just over 3% and climb from there, and there is usually an origination fee charged. You can get all of the following mortgages on Chase:
However, you will only be allowed to secure a mortgage through Chase if the home is your primary home. This means that you can’t use Chase home loans to acquire a second home or a vacation home.
Chase Banking Services
Chase’s main service is personal and business banking. They offer checking accounts in four different tiers, including:
- Total Checking
- Premier Plus Checking
- Premier Platinum Checking
- High School and College Checking
Each of these has a minimum amount you need to deposit to open the account and some of them also charge fees to maintain. There are also fees charged when you run out of funds and when you opt for overdraft protection, but some of the fees, including the monthly account fee, are waived when you deposit above the threshold amount in a month.
Only one of these checking accounts pays interest and that’s the Premier Platinum, but the amount paid is negligible at just 0.01%. In fact, even if you opt for a Chase savings account you won’t get much of a better rate. The standard rate on their savings accounts is actually the same, but it will climb to 0.08% if you also have a checking account.
If you really want to save and earn, there are better saving accounts out there.
Chase Loans and Financing
There are refinancing options on auto loans and home loans through Chase. Terms and conditions apply and you should discuss this with someone in branch as opposed to trying to do it over the internet.
Chase Credit Cards
This is an area in which Chase do very well. You will find a number of credit card top lists here on DebtReviews and the majority of them include at least one Chase card. Such is the case with our guides to Reward Cards, Travel Cards and even 0% Interest Cards.
This is where their size, their reach and their competitive nature comes into play. They have been undercutting many of their rivals in terms of the fees they charge and they have also been offering more than them in terms of cashback and rewards.
One of the standout cards is the Chase Sapphire Preferred Card, which offers extra bonuses for money spent on travel and dining. Other Chase branded reward cards include:
- Chase Freedom: You can earn up to 5% on a limited spend every year.
- Chase Freedom Unlimited: Earn 1.5% on every dollar that you spend.
- Chase Sapphire Reserve: Earn triple points when you spend on travel and dining.
- Airline Cards: They work with a number of airlines to provide travel reward cards, including United and Southwest.
- Disney Premier Visa: This Disney card includes a number of designs (including Star Wars) and earns extra points when you spend in the Disney store.
This is just a small selection. Many airlines, restaurants, hotel chains and retail chains also have credit cards that originate with Chase. Such is the case with the Ritz-Carlton card, for instance.
Whether you need a business card, travel card or even a secured card, there are several to choose from and it is worth spending some time looking through these to see which one is best for you.
Chase Personal Loan Alternatives
There are a few providers of personal loans you can look to if you need an injection of cash and these generally fall into one of two categories:
Banks and Credit Unions
Take a look at our guide to Banks vs Credit Unions if you are not sure about the differences between these two lenders. To simplify it: banks focus on profit above all else and will not be as generous with regards to fees; while Credit Unions focus more on customers, but may not offer you as much.
Of the five biggest banks in the United States (Chase, BoA, Wells Fargo, Citibank, Goldman Sachs) only Wells Fargo and Citibank offer personal loans, and both of these should be included in your comparison search.
You should also look at credit unions in your area. The more lenders you include in your search and the more legwork you do, the better the deal you will get.
There are online lending communities that facilitate the transfer of money between a lender and a borrower. There are also online lending companies that work somewhat similar to payday loans, only without the extortionate APRs.