Capital One offers business and auto loans, but it discontinued its personal loan product. However, you still have plenty of other options, including competitive offers from online lenders and national banks in addition to smaller banks and credit unions.
4 top alternatives to Capital One personal loans
Consider these personal loan lenders that offer loans for a variety of financial needs with competitive rates.
MoneyLion is a free service that connects you with top lenders to find a personal loan tailored to your needs, whether for home improvement, debt consolidation or unexpected expenses. Loans range from $500 to $100,000 with a variety of loan terms. Interest rates vary depending on the lender, your credit score, income and other factors. MoneyLion also has partners that can help borrowers with less-than-stellar credit gain access to loans.
To get started, complete the quick and easy online application that won't impact your credit score. You'll receive multiple options based on your eligibility and requirements. These options allow you to easily compare rates, terms and monthly payments.
However, reviews of the company are mixed. While Trustpilot and BBB reviews rate the company highly, there's also a BBB alert due to an ongoing pattern of complaints.
Not available in: Colorado, Connecticut, New York, Vermont, West Virginia
Pros
Compare lenders without affecting your credit score
LightStream offers loans with competitive rates starting as low as 6.99% and no origination or other fees. Plus, if you're looking for a fast lender, funds could be available as soon as the same day you apply. You can also take advantage of its Rate Beat Program and generous 0.5% APR discount for signing up for autopay. But you'll need good to excellent credit to qualify for a LightStream loan. And loan amounts start higher than average, which isn't ideal for smaller emergencies.
If you prefer working with a lender face to face, you might want to consider Wells Fargo. It offers a wide range of borrowing amounts, competitive rates and terms as long as seven years. And it's fast for a traditional bank — you could get your funds as soon as the next business day after approval. But to qualify for a personal loan, you must have an existing Wells Fargo account for at least 12 months.
Best Egg offers personal loans up to $50,000 with more lenient credit requirements than some lenders. It's known for its good customer service, easy application process and fast funding. It also has secured and unsecured loans and opportunities for rate discounts, such as authorizing the lender to pay your creditors directly. But Best Egg charges origination fees up to 9.99%, it's not available in every state and minimum loan amounts are higher in some states.
*Trustpilot TrustScore as of December 2022. Best Egg loans are personal loans made by Cross River Bank, a New Jersey State Chartered Commercial Bank, Member FDIC, Equal Housing Lender or Blue Ridge Bank, N.A., Member FDIC, Equal Housing Lender. The Best Egg Credit Card is issued exclusively by First Bank & Trust, Member FDIC, Brookings SD pursuant to a license by Visa International. Visa is a registered trademark, and the Visa logo design is a trademark of Visa International Incorporated. “Best Egg” is a trademark of Best Egg Technologies, LLC. Offers may be sent pursuant to a joint marketing agreement between Cross River Bank, Blue Ridge Bank, N.A. and/or First Bank & Trust and Marlette Marketing, LLC, a subsidiary of Best Egg, Inc.
The term, amount, and APR of any loan we offer to you will depend on your credit score, income, debt payment obligations, loan amount, credit history and other factors. Your loan agreement will contain specific terms and conditions. About half of our customers get their money the next day. After successful verification, your money can be deposited in your bank account within 1-3 business days. The timing of available funds upon loan approval may vary depending upon your bank’s policies. Loan amounts range from $2,000– $50,000. Residents of Massachusetts have a minimum loan amount of $6,500 ; Ohio, $5,001; and Georgia, $3,001.
For a second Best Egg loan, your total existing Best Egg loan balances cannot exceed $100,000. Annual Percentage Rates (APRs) range from 8.99%–35.99%. The APR is the cost of credit as a yearly rate and reflects both your interest rate and an origination fee of 0.99%–8.99% of your loan amount, which will be deducted from any loan proceeds you receive. The origination fee on a loan term 4-years or longer will be at least 4.99%. Your loan term will impact your APR, which may be higher than our lowest advertised rate. You need a minimum 700 FICO® score and a minimum individual annual income of $100,000 to qualify for our lowest APR. For example: a 5‐year $10,000 loan with 9.99% APR has 60 scheduled monthly payments of $201.81, and a 3‐year $5,000 loan with 7.99% APR has 36 scheduled monthly payments of $155.12. To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents. Best Egg products are not available if you live in Iowa, Vermont, West Virginia, the District of Columbia, or U.S. Territories. TO REPORT A PROBLEM OR COMPLAINT WITH THIS LENDER, YOU MAY WRITE OR CALL–Operations Manager, Email: crt-resolutions@bestegg.com, Address: P.O. Box 42912, Philadelphia, PA 19101, Phone: 1-855-282-6353. This lender is licensed and regulated by the New Mexico Regulation and Licensing Department, Financial Institutions Division, P.O. Box 25101, 2550 Cerrillos Road, Santa Fe, New Mexico 87504. To report any unresolved problems or complaints, contact the division by telephone at (505) 476-4885 or visit the website https://www.rld.nm.gov/financial-institutions/
When choosing the best alternatives to Capital One, we looked for lenders with wide state availability and a range of borrowing amounts. We also considered how easy it is to apply and potential interest rates.
Why doesn’t Capital One offer personal loans?
Like many big banks, it doesn’t come as much of a surprise that Capital One no longer offers personal loans. This change could be part of the larger trend of big banks moving away from personal lending, or it could be that Capital One wants to focus on what it’s best known for: credit cards. In fact, it also previously discontinued its mortgage program in 2017.
Does Capital One offer other loans?
Capital One has a limited selection of financial products, including:
Auto loans
Business loans
Personal credit cards
Business credit cards
What credit score do I need to qualify for a personal loan?
For many online lenders, you’ll need a fair credit score of at least 600 to qualify. Banks, credit unions and larger online lenders typically require good to excellent credit to qualify. If you’re not sure whether you meet a lender’s minimum credit score requirement, reach out to its customer service team before you apply.
The Finder Score crunches 6+ types of personal loans across 50+ lenders. It takes into account the product's interest rate, fees and features, as well as the type of loan eg investor, variable, fixed rate - this gives you a simple score out of 10.
As with many other big banks, Capital One personal loans are no longer an option. Consider other top personal loan lenders that may be able to offer both speed and the right loan amount. You may also look into a lending marketplace, where you can plug in your eligibility details and get matched with lenders offering exactly what you need.
Lacey Stark is a freelance personal finance writer for Finder, specializing
in banking, loans, investing, estate planning, and more. She has 20
years of experience writing and editing for magazines, newspapers, and
online publications. A word nerd from childhood, Lacey officially got her
start reporting on live sporting events and moved on to cover topics
such as construction, technology, and travel before finding her niche in
personal finance. Originally from New England, she received her
bachelor’s degree from the University of Denver and completed a
postgraduate journalism program at Metropolitan State University also
in Denver. She currently lives in Chicagoland with her dog Chunk and
likes to read and play golf. See full bio
I applied for a loan and they told me in order to get the money i need to pay 300$ to capital one to raise my credit score as soon as i pay the money the loan will be released into my bank answer am trying to find out is that possible or not
Finder
JoshuaSeptember 13, 2018Finder
Hi David,
Thanks for getting in touch with finder. I hope all is well with you. :)
There are lenders who only lend money to people who have a good credit score and Capital One is among them. If this is one of the requirements of Capital One, then you have to comply with them to get approved. If not, you have to go elsewhere. This page lists some of your alternatives.
I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.
Have a wonderful day!
Cheers,
Joshua
How likely would you be to recommend Finder to a friend or colleague?
0
1
2
3
4
5
6
7
8
9
10
Very UnlikelyExtremely Likely
Required
Thank you for your feedback.
Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve.
Advertiser disclosure
Finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which Finder receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. Finder compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
I applied for a loan and they told me in order to get the money i need to pay 300$ to capital one to raise my credit score as soon as i pay the money the loan will be released into my bank answer am trying to find out is that possible or not
Hi David,
Thanks for getting in touch with finder. I hope all is well with you. :)
There are lenders who only lend money to people who have a good credit score and Capital One is among them. If this is one of the requirements of Capital One, then you have to comply with them to get approved. If not, you have to go elsewhere. This page lists some of your alternatives.
I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.
Have a wonderful day!
Cheers,
Joshua