Wells Fargo offers Personal Loans up to $100,000. But if you don’t have a 600 Credit Score and you aren’t already a Wells Fargo customer is it the right loan for you?
Not all loans are created equal. Each loan has their own features and requirements. That is why it’s important to do a bit of research while you’re shopping for loans before you pick one, so you get the loan that makes the most sense for your own personal needs.
Wells Fargo Personal Loans: A Quick Look
Wells Fargo offers personal loans from $3,000 to $100,000 with an APR range from 5.49% to 22.99% with no origination fees or prepayment penalties. They also offer a wide range of payback periods from as little as 12 months up to 84 months. They also offer special benefits for loan customers that already have a Wells Fargo account.
Maximum Personal Loan: $100,000
Minimum Personal Loan: $3,000
Rates: 5.49% to 22.99% APR
Fees: There are no origination fees or prepayment penalties
Terms: 12 to 84 months (1 to 7 years)
When: The next business day, if your loan is approved.
Basically, the Wells Fargo personal loan is a larger loan with a short or long-term payment plan. This loan is often used to consolidate debts, to make a large purchase (like home improvements), or to cover emergency expenses. They also offer a competitive fixed rate, fixed term, and fixed monthly payments. Their loans also don’t require collateral.
Who are Wells Fargo Personal Loans Perfect For?
The Wells Fargo personal loan is great if you need to consolidate heavy debts with high interest rates. It’s also a good loan if you need a larger loan for things like major home improvements or college tuition. If you need a much larger loan and you meet the below requirements, then this loan may be perfect for you.
- If you have a credit score of 600 or higher
- If you need a large loan amount
- If you need to consolidate larger debt amounts
- If you need to make larger purchases
- If you already have a Wells Fargo account
Who Should NOT Get a Wells Fargo Personal Loan?
If you don’t meet the above requirements, or you’re just looking for a quicker, smaller personal loan, then you may want to keep shopping for your perfect loan. If any of the listed items below represent you, then you should consider a different personal loan provider.
- If you need a smaller loan
- If you want to pay back the loan in less than a year
- If you don’t already have a Wells Fargo account
- If you need your loan quickly, or that same day
- If you have a low credit score
- If your credit score can’t afford a hard credit pull application
Wells Fargo Personal Loans Pros and Cons List
Though personal loans with Wells Fargo may be a great option for some, there are some reasons they may not be the best loan fit for others.
|You can get a really large loan of up to $100,000||You can’t get a small loan of less than $3,000|
|They offer secure loans||Their secure loans have a $75 origination fee|
|There are no origination fees or prepayment penalties||You need a credit score of at least 600|
|Their loan application involves a heavy credit score check|
|The application requires a lot of information|
An Alternative to Wells Fargo Personal Loans
Check City offers a different kind of personal loan. So if the features and requirements present in a Wells Fargo personal loan don’t work for you, a Check City personal loan might be your answer.
Reasons to Get a Check City Personal Loan
- Check City is a direct lender
- Check City is also a state licensed lender
- The application process is quick and simple
- You don’t need a high credit score to apply
- There are no origination fees
- You can get your loan TODAY
How to Apply for a Check City Personal Loan
Check City personal loans are incredibly easy to use. Just visit the Check City Personal Loan Page and you can quickly apply for your loan online, at a nearby Check City store, or even over the phone!
All you need to apply for the loan is:
- A government ID
- Proof of bank account
- Proof of direct deposit
- Proof of income
- A valid phone number
Apply for a Check City Loan Online by clicking HERE.
Find a conveniently located Check City Store by clicking HERE.
Or call Check City’s Loans By Phone number: 800-404-0254
Check City personal loans have a fast and easy process, and if you go into a Check City store to apply, you can actually walk out with your personal loan funds that very same day! Check City personal loans are great for loan customers that need a quick, easy to use, smaller personal loan that they can pay back in a matter of months instead of years. They’re also a great loan option for customers with lower credit scores since Check City doesn’t pull a traditional credit report when processing your application.
LOAN COMPARISON CHART
|Check City Personal Loans||Discover Personal Loans||Wells Fargo Personal Loans|
|Amount||$300 to $3,000||$2,500 to $35,000||$3,000 to $100,000|
|Rates||lower APR than our payday loans||6.99% to 24.99% APR||5.49% to 22.99% APR|
|Fees||no origination fees||no origination fees, no closing costs||no origination fees, no prepayment penalties|
|Terms||6 months||36 to 84 months (3 to 7 years)||12 to 84 months (1 to 7 years)|
|Min. Credit Score||Check City doesn’t pull a traditional credit check, and if you have a low credit score you can still apply for a Check City personal loan||660||600|
When you think of loans you often think about the requirements you need to meet in order for you application to get approved. But you have loan requirements too! Everyone is looking for something different in a personal loan, like the ability to refinance the loan later, or the ability to get the loan right away. You can find all these key qualities with a Check City Personal Loan!
Whatever your own personal loan requirements might be, you should always study up on what features each loan provides before making a choice.
Learn more about the usefulness of loans, “The Usefulness of Loans from Large to Small.”
Budget like a boss by reading, “Budgeting in 4 Easy Steps.”
*The information found in this article comes from the lenders’ websites and NerdWallet reviews at the time of posting.