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| 1.
| What are personal loans? |
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| Personal loans are unsecured loans with fixed
payments and a fixed payment schedule. They can be used for debt
consolidation, home improvement, or any other need. |
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| 2.
| How do I apply for a Capital One Personal Loan?
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| Currently our personal loan applications are available to anyone who has received an offer from us. If you received an offer, you can apply right now using the reservation number and access code found in your offer. |
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| 3.
| Are there any fees to apply for this
loan?
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| There are absolutely no fees to apply—no application
fee, origination fee or closing costs.
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| 4.
| Am I eligible for a Capital One Personal
Loan?
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| To be considered for approval, you cannot have
applied for a Capital One Personal Loan within the last 90 days. Also, you
cannot currently be delinquent or have defaulted on any Capital One account in
the past year. Final approval is based on review of your application and overall
credit profile.
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| 5.
| Will I need collateral to qualify for this
loan?
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| No, good credit is all you need to qualify
for this loan. There's no need to use your house or other personal assets
as collateral to qualify for this loan.
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| 6.
| Can I use this loan for anything?
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| Yes, how you use your loan is entirely up to you. Use it
to consolidate other balances, make home improvements, pay tuition, or for
anything else you choose.
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| 7.
| When will I know if I have been
approved?
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| In many cases, we are able to provide an approval
decision right away after an online application is submitted. However, there may
be times when this is not possible, or we may need to request additional
information. In these cases, most applicants receive a response within
10 business days.
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| 8.
| When will I receive my loan check?
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| Upon approval, most customers receive their loan checks
and additional loan information in the mail within 10 business
days.
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| 9.
| What if I change my mind after I apply?
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| Once approved, if you change your mind for any reason,
simply don't cash your loan check. Your account will not be activated unless
your check is cashed within 30 days of your loan approval.
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| 10.
| Will the monthly payment ever increase?
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| No, your monthly payment will not
increase.
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| 11.
| Is there a way to have my monthly payments paid
automatically?
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| Yes. Our free Automatic Payment Service option
is the No Hassle way to have your monthly payment directly debited from
your bank account. Simply complete the Automated Monthly Payment section on
your application.
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| 12.
| Is there a fee for prepayment of the
loan?
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| No, there is no prepayment penalty fee. You can make more
than your minimum monthly payment or pay your loan in full at any
time.
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| 13.
| Can I manage my personal loan account
online?
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| Yes, you'll have the option to access your account online
24 hours a day, 7 days a week. You can check your account balance, make free
online payments and more. And your personal information is always
secure.
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Equal Housing Lender