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How to Get Capital One Personal Loans & Best Alternatives in 2022 – How to Apply for a Personal Loan from Capital One

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How can I apply for Capital One personal loans? or Does Capital One do personal loans? First and foremost, it is important to clear your doubt regarding getting a personal loan at Capital One. As a matter of fact, Capital One does not offer personal loans especially the unsecured personal loans but offers types of loans. However, you can get a personal loan from other lenders as alternatives if you want to get a loan. These lenders include local banks, credit unions and other online lenders.   

How to Get Capital One Personal Loans & Best Alternatives in 2022

Alternatives to Capital One Personal Loans

Banks

The two popular banks that offer personal loans are Citibank and Wells Fargo. To qualify for personal loans at any of these banks, you must be their customer and meet other requirements which include income and employment information, minimum credit score and lots more. Below is a list of what you need to have to get a personal loan from these banks.

  • A good to excellent credit score
  • Minimum loan amount of $1,000 up to $100,000 Max.
  • APR ranges from 5% to 29%

Credit Unions

Getting personal loans can be more flexible in many instances than getting from banks or online lenders. This is because you are likely to get a lower rates and flexible repayment terms and do not require a good credit to qualify for the loan. However, to apply for loans at credit unions you must become a member of the credit union. But without mincing words, it is highly recommended to make credit union your first choice when you want to apply for a personal loan.

Features of Credit Union personal loans

  • Bad to excellent credit score is accepted
  • Loan amount ranges from $250 minimum to $50,000 maximum
  • APR is at 8.86% average at federal credit unions for a three-year loan

Online lenders  

Online lenders offer you all kinds of credit profiles and usually give you good rates with a soft inquiry on your credit. To qualify for personal loans using online lenders, you have to apply online and when you complete the application process, you are likely to get your funds within 24 hours.

When you want to get a personal loan from online lenders, it important you shop and compare several online lenders to know their various rates, repayment, prequalification, etc.  

Features of Online lenders personal loans

  • Bad to excellent credit score is accepted
  • Loan amount ranges from $1,000 to $100,000 maximum
  • APR ranges from 6% to 36%

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Compare Personal Loans from Online lenders

The three online lenders below are alternatives to Capital One personal loans. It is therefore important for you to compare their different rates to know the best one that suits your budget.

Marcus by Goldman SachsLightStreamSoFi
EST. APR 6.99 -19.99%  EST. APR 4.99 – 19.99%EST. APR 6.99 – 21.78%
LOAN TERM (3 –  6)years  LOAN TERM 7 yearsLOAN TERM (2 –  7) years
LOAN AMOUNT $3,500 – $40,000  LOAN AMOUNT $5,000 – $100,000LOAN AMOUNT $5,000 – $100,000
MIN. CREDIT SCORE 660  MIN. CREDIT SCORE 660  MIN. CREDIT SCORE 680  
Table Source: Nerdwallet

Other Types of Loans Capital One offers?  

There are other types of Capital One loans you can get apart from personal loans and they include;

  • Auto loans
  • Line of credit
  • Credit cards
  • Small business lending
  • Commercial lending
  • Mortgages

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