Capital One Personal Finance

From time to time, you might need a little extra money to cover some kind of unexpected expenses. You never know when you might have some urgent medical bills or certain cash requirements.

Capital One offers varities of personal lending solutions. You don’t need to choose alternate banks, credit unions and online lenders for Capital One bank personal loans. It is offered as Personal Installment loan, Line of credit and Signature loan across the country. With these types of loans, you can deal with your Unexpected bills, Medical emergency, Debt consolidation, Home repair, Small business startup and cash needs without any hassle. You can also consolidate your several outstanding debts into one loan term and make only one monthly payment.

If you have a decent credit record, you can easily get a personal loan or a line of credit from this bank. There may be some issue with poor credit score becuase Capital one demands at least 600 score of credit. It is not good decision if you have less than 600 credit score becuse you have to pay highest interest rate. Similarly with other type of loan, you should consider how the purchase suits with your goals and financial priorities. It is sensible to check whether you will be able to afford your monthly payments before choosing a loan or a personal line of credit. 

You can further consider whether the purchase can be postponed while you carry on with your saving. A bank agent or a financial advisor will be able to help you find the best loan term that will suit your needs and your affordability.

What types of loan options available at Capital One?

Capital One easily provides signature loan, installment loan and line of credit which is an unsecured nature loan where you are not required to use your assets or property as collateral against the loan amount. You can use this loan amount for your personal expenses and sometimes small business needs.

Typically, personal loans are provided to borrowers who have very high credit rating or scores. It is very difficult for bad credit score person. Being an unsecured loan, the interest rates are usually higher than interest rates of a HELOC, which is a kind of personal loan secured by the home of the borrower. The best usages of personal loans are for expenses that you intend to pay off quickly. You can easily contact at 1-800-926-1000 for different loan products.

Personal Installment Loan

Most of the personal loans are often set up as installment loans in which you make your loan repayment over a certain period of time with a set term of fixed payments schedule. Most of the borrowers who take personal loans try to pay back their loan in 12 to 18 months. It’s totally your choice whether you use your loan amount to pay your education, consolidate your debt, make home improvements, pay utility bills, or plan a vacation.

Personal line of credit

A line of credit works much like a credit card where you get a revolving loan amount. This means you can withdraw as much as you need subject to your credit limit and pay back to become eligible for another withdrawal. The best thing is that the interest is incurred only on the amount you have borrowed from the line of credit. The amount of money left in it is free from any kind of interest. Under personal line of credit, you might be able to obtain a revolving credit of $5,000 to $10,000. However, you need to have a very good credit score to become eligible for application. It is easy to use the money with a check or an ATM card. You can also transfer money to other bank accounts.

Simple process to apply personal loan at Capital One

Here is an outline of possible steps that you can take in order to obtain a personal financing solution.

  1. Ensure that you have a genuine loan requirement. It is better to avoid a personal loan as the interest rates are usually very high.
  2. Check your FICO credit score. You must have more than 600 to get a positive reply from Capital One.
  3. It is also important to arrange for the documents certifying your eligibility to pay for the loan.
  4. Find out a Capital One branch or locality or dial the customer service number 1-800-926-1000 to initiate the process of application.
  5. Talk to a bank representative and explore your loan term and payment options.
  6. Finally, fill out the application form and submit all the documents required by the bank.

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