What Is Chase Bank?
Chase is a subsidiary of J.P Morgan Chase Bank and is headquartered in Columbus Ohio. This financial institution offers a significant amount of services that are of great benefit to their clients. They offer everyday banking and business services, investment options, credit cards, auto and home loans, and many other beneficial services.
Do They Offer Personal Loans?
Despite the level of services offered, Chase Bank does not provide personal loans to their members. Instead, clients are expected to be precise with the type of loan they require. Chase offers loans that are specific to the needs of their clients. For example, individuals seeking to receive a loan for an automobile or home purchase can apply for any of these specialized loans.
For auto loans, Chase offers a unique car buying experience for new cars, along with financing and car financing features. By applying online, individuals can expect to receive an instantaneous response indicating their approval or non-approval. Online tools are also available that enable applicants to view potential monthly payments and gain a better understanding of the loan process.
If purchasing a home, individuals can take advantage of competitive mortgage rates. They can apply online, head to a branch or call to speak with a representative to see what is available to them. Chase also provides refinancing solutions that enable them to lower their payments or tap into their equity for home improvement projects or other undertakings.
Credit cards with beneficial features are also offered by Chase such as their Chase Freedom Unlimited Credit Card, which enables individuals to earn 1.5 % cash back on all purchases. The advantage to this card is that no minimum is required to redeem the cash back earned on the card.
Also, for the first 15 months of owning the card, 0% APR is available for 15 months for account opening and balance transfer. Following this offer, 15.99% – 24.7% variable APR becomes effective.
Other credit cards are also offered. These can be used as alternatives to Chase’s non-existent personal loans. However, if a credit card is used for a large purchase, it is imperative that individuals only do so with the intention of paying off the borrowed amount in a short period of time. Borrowing money for an extended time can result in incurred interest and lengthy payments.
Although this bank does not offer personal loans, individuals can expect to receive commendable customer service and an offering of loan solutions that are customized to fit their needs.
Robert is our in-house expert on personal loans and finance. He got an MBA, specializing in Finance, before joining the workforce. After working for multiple Fortune 500 companies in the past decade, he brings a wealth of knowledge and experience to the table.