Chase is far and away the biggest financial institution in the country. It’s a household name thanks to its excellent deposit account options, lucrative rewards credit cards, and branch ubiquity. Surely it offers personal loans, as well—right? Not so fast.
In fact, Chase doesn’t offer personal loans in the traditional sense. Here’s what you need to know about Chase financing options and alternative lenders to consider if you need a personal loan.
Does Chase offer personal loans?
Chase does not offer personal loans. In other words, you can’t apply for a personal loan from Chase and receive a lump sum of cash deposited into your bank account. Chase offers home loans and auto loans, but no traditional personal loans that can be used for (nearly) anything.
That said, Chase does issue myriad credit cards. And while not quite the same as a conventional loan, Chase gives you options to utilize your credit line as a personal loan of sorts. Here’s how to do it.
My Chase Loan
My Chase Loan is a feature Chase provides to eligible cardholders who have had their credit card open for at least 180 days. In short, it allows you to convert your credit limit into cash without performing a pricey cash advance—which typically comes with fees and higher APR.
With My Chase Loan, you can liquidate your credit for a lump sum of cash. The amount of money you request will appear as a balance on your credit card. But fortunately, this loan will have its own (often more favorable) interest rate than your credit card. You also won’t pay any origination fees. It can be thought of like a cash advance without the penalties.
When you open a My Chase Loan, you won’t have to submit an application or receive a credit check. That’s because you’re borrowing against your existing credit limit. Each installment will be rolled into your credit monthly card bill.
Chase Pay Over Time
Chase Pay Over Time is a little farther removed from a traditional loan, but it’s still worth a mention. It’s Chase’s Buy Now Pay Later (BNPL) feature that “loans” money for a purchase and charges you in installments—instead of all at once.
This may save you on interest if you can’t quickly pay off the purchase. However, you’ll pay a fixed monthly fee for the privilege of paying incrementally.
Pros and cons of these Chase financing options
Pros
- No application or credit check for opening a My Chase Loan
- Flexible loan amounts based on your credit limit
Cons
- Not traditional personal loans
- My Chase Loan will impact your credit utilization
Alternative lenders for a personal loan
Two lenders that show up on our picks for the best personal loans are American Express and Wells Fargo. Here are the details of personal loans from these institutions:
| Loan Amounts | Rates | Repayment Terms | Learn more | |
|---|---|---|---|---|
| American Express | $3,500 to $50,000 | 6.99% to 19.99% | 1 to 5 years | View offer at American Express |
| Wells Fargo | $3,000 to $100,000 | 6.74% to 26.49% | 1 to 7 years | View offer at Wells Fargo |
| American Express | View offer at American Express |
|---|---|
| Loan Amounts | $3,500 to $50,000 |
| Rates | 6.99% to 19.99% |
| Repayment Terms | 1 to 5 years |
| Wells Fargo | View offer at Wells Fargo |
| Loan Amounts | $3,000 to $100,000 |
| Rates | 6.74% to 26.49% |
| Repayment Terms | 1 to 7 years |
Neither of these lenders charges origination fees or prepayment penalties on their personal loans.
Lender details checked Oct. 22, 2025 and subject to change.
How to find the best personal loan for your situation
If neither a My Chase Loan or a Chase Pay Over Time option doesn’t quite fit your financial needs, you’ll have to identify a bank, credit union, or online lender that’s a good match for your situation. We’ve provided a couple options above to get you started.
Here are a few factors to consider to quickly narrow down your many choices to find the best-suited personal loan for your situation.
Loan amount
When it comes to the amount of money you can borrow, lenders offer ranges. The amounts offered may be a deal breaker based on your needs. For example, if you need $80,000, you wouldn’t choose to apply with American Express, as it offers personal loans up to a maximum of $50,000.
Loan term
Put simply, your loan’s term is the amount of time you’ve got to pay off your balance. Upon account opening, a personal loan will consist of equal monthly installments that will end at your loan term.
In other words, the length of your loan is one of the key things that dictates the size of your monthly payment. Make sure that, in addition to the right loan amount, you find a lender willing to give you a term lengthy enough to result in reasonable monthly payments. The last thing you want to do when opening a new loan is place unnecessary strain on your budget.
Interest rate
Personal loans are typically advertised with a spectrum of interest rates. The rate you receive will depend on factors like your credit score, the loan term, even the lenders themselves. All else being equal, it’s likely a wise move to choose the loan with the lowest APR.
Fees
A loan with the fewest strings attached is oftentimes ideal. You don’t want one that charges you an arbitrary account opening fee or an early payoff fee. Check the terms of a loan before you formally apply.
Frequently asked questions
What loan types does Chase offer?
Chase Bank doesn’t offer traditional personal loans. They issue home and auto loans, but not general-purpose installment loans. You can, however, potentially leverage your Chase credit card limit in a similar fashion to a personal loan with the My Chase Loan feature.
What are the main differences between My Chase Loan and a traditional personal loan?
There are two main differences between My Chase Loan and a traditional personal loan. First, with a My Chase Loan, you’re not borrowing more money than you currently have access to; you’re simply turning your revolving credit line into a cash installment loan. Second, you don’t need approval—and your credit won’t be impacted—when opening a My Chase Loan as would be the case when applying for a personal loan.
Are there any fees associated with My Chase Loan?
There are no fees when opening or paying off My Chase Loan. Instead, you’ll be subject to interest and late fees (common among any personal loan).
Can I use a credit card instead of a personal loan?
You can use a credit card instead of a personal loan for most purchases that don’t require cash. But it’s not always a good idea, as credit cards generally enforce a much higher APR than personal loans. If you’ve got a large purchase for which you don’t think you’ll be able to soon pay off, carrying a balance on a credit card could result in devastating interest payments.
What are the best alternatives to Chase personal loans?
Two alternatives to Chase personal loans under the Chase umbrella are My Chase Loan and Chase Pay Over Time. If you want a conventional personal loan, you’ll need to open it from another financial institution.