Anyone who has every struggled with bad credit understands the challenge associated with banking. In some instances, this has to do with simply opening a bank account. Others want to find access to lenders, in order to get personal loans. There are many ways that these loans can be used to address debt and to build credit scores. The problem is actually locating the banks that offer these services.
Some people want their personal loan specifically to work on their credit scores, which is a good strategy. You can utilize loans to catch up delinquent payments that are in the rear. These are also funds to take care of monthly expenses by setting up auto pay options. The possibilities are numerous for those with bad or damaged credit, when they are approved for loans.
The Chase Personal Loans for Bad Credit | Top 5 Alternatives for 2020 list provides important information to many in search of banking products. This is useful to potential applicants despite the city or state that they live in currently. Their credit status doesn’t have to prevent them from acquiring these loans from certain banks. Let’s take a look at the Top 5 Alternatives for 2020 and their benefits.
1 – Money Mutual
Money Mutual is one of the top alternative banks that assist loan applicants with bad credit. By using the LetMeBank resource, it is possible to find banks like this one that are available for these personal loans. More than 2M borrowers have been able to get loans of up to $2,500 from this lender.
These loans can be deposited in your account in as quickly as 24 hours, which is extremely convenient. The application process can be done within 5 minutes time, and decisions are provided quickly. This bank has received a four and a half star rating for its quality and service to borrowers.
2 – Cash USA
Another alternative banking option for personal loans on this list is Cash USA. Loan amounts that are available through this lender are between $500 and $10K. These are loans with terms that range from 6 months to 72 months. Those who need funds for emergency situations benefit from using this option. This lender has earned a four and a half star rating, as well.
In order to qualify for personal loans with Cash USA there are flexible requirements for borrowers. The loan request process is speedy and can be approved in moments. All credit types can be approved for these loans by the lender. If approved, it is possible to receive funds within one business day. With these resources it is possible for borrowers to build their credit status.
3 – Bad Credit Loans
Bad Credit Loans is one of the oldest alternative banking options, having been around since 1998. This is a lender of personal loans that has a history of helping individuals with bad credit. It prides itself as being a lender to help when others can’t. The loans available here range between $500 and $5K for approved borrowers. There are various uses for these personal loans that build your credit worthiness.
It is possible to get loan terms from Bad Credit Loans from 3 months to 60 months, with varying APRs. There are no hidden fees or charges associated with applying for these personal loans. This lender has a high approval rate despite the credit status of applicants. Funds can be available as soon as the next business day, if you are approved.
4 – PersonalLoans.com
PersonalLoans.com has a four star rating and is one of the popular alternative lenders for these loans. These can range anywhere from $500 to $35K in available funds for approved applicants. You may get a loan term that is set between 3 months to 72 months in length. The APR here will vary depending on individual applicants.
This lender offers applicants multiple loan types to choose from for their personal needs. At PersonalLoans.com, the loan decision process is fast. As soon as, applicants accept their offers, funds are deposited into their accounts. These personal loans are available from this particular bank, to individuals nationwide.
5 – Avant
One of the bank lenders that offer the highest loan amounts is Avant. This alternative lender approves loans that range from $2K to $35K. Terms are between 24 months and 60 months for this four star rated lender. Avant has assisted more than 600K satisfied customers to date.
You may use your personal loan to increase your overall savings funds. These are important in the case of emergencies or illnesses. Even if you have damaged or bad credit, these loans can be acquired to benefit you financially. Finding the right lender is the best first step in this process.