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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.
| Does it matter how I use the personal loan? |
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| No. How you use your loan is entirely up to you. Many people use a personal loan to consolidate other balances, make home improvements, or pay tuition, among other things.
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| 3.
| How do I apply for a Capital One Personal Loan? |
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Currently, our personal loan applications are available only to those who’ve received offers from us in the past. If you’ve received an offer, you can apply online right now using the reservation number and access code found in the offer letter we sent you. |
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| 4.
| Are there any fees associated with a personal loan? |
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No, there are no fees to apply for a personal loan—no application fee, no origination fee, and no closing costs.
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| 5.
| Am I eligible for a Capital One Personal Loan? |
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To be considered for approval, you must
• have received an offer from us in the mail;
• NOT have applied for a Capital One Personal Loan within the last 90 days; and
• NOT be currently delinquent or have defaulted on any Capital One account in the past year.
Final approval is based upon review of your application and overall credit profile. |
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| 6.
| Will I need collateral to qualify for a personal loan? |
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No. Good credit is all you need to qualify for our personal loan.
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| 7.
| When will I know if Capital One approves my personal loan application? |
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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 isn’t 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 personal loan check? |
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Upon approval, most customers receive their loan checks in the mail within 10 business days.
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| 9.
| What if I change my mind after I apply for a Capital One personal loan? |
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If, for any reason, you change your mind after being approved for a personal loan, simply refrain from cashing 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 on my personal loan? |
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No, your monthly payment will never increase.
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| 11.
| Can I make the monthly payments on my personal loan automatically? |
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Yes. Our free Automatic Payment Service option allows you to debit your monthly payment directly from your bank account. Simply complete the Automated Payment Service section on your personal loan application.
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| 12.
| Is there a fee for prepayment of my personal loan? |
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No, there is no prepayment penalty fee. You can pay more than your minimum monthly payment or even pay your loan in full at any time.
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| 13.
| Can I manage my personal loan account online and make payments online? |
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Yes, you'll have the option to access your account online 24 hours a day, 7 days a week through Online Banking. You can check your account balance, make free online payments, and more.
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We ask for your ZIP Code as product offerings and features may differ among geographic locations. You may change your ZIP Code at any time. Please note that whether the products you view (based on the zip code you enter) are available may depend on your state of residence or the branch which you visit.
Equal Housing Lender