- Personal Finance
J.P. Morgan Chase Bank Signature Loans
J.P. Morgan Chase is one of the oldest and most respected banks in the world. In fact the founder John Pierpoint Morgan likely did more for the banking industry then any banker before or after him. He quelled the financial disaster of 1907 simply by calling up a meeting on Wall Street and told the banks to lend their reserves, since that is why they have reserves in the first place. It worked and it enabled Wall Street to ease themselves out of their liquidity crisis.
J.P. Morgan was kind of the Warren Buffett of his day except that everyone actually did what he said and it worked out well. Warren Buffett is a good guy with an enviable track record but these days just making a statement doesn’t get people to act like it once did. If you're going to get a loan, this is a solid bank to get it from.
Since JP Morgan is such an old and respected bank is it any surprise that people want a JP Morgan Chase signature loan? It is not a surprise at all as they give great loans at fair rates and they have not been hit by the current financial crisis nearly as hard as so many other banks have.
Requirements For A Loan From Chase
To get a good Chase signature loan it is important that you do not have
outstanding debt that you have been late in paying or that you have
defaulted on entirely. If you have defaulted then you will have a
harder time getting a good signature loan at a good rate. This is
because banks are not in business to loose money, in fact losing money
will put them out of business. So while you might think you are an
honest borrower, if your credit report says otherwise you will either
not get the loan or you will be charged an extremely high rate for your
Because Chase signature loans are also called good faith loans and unsecured loans they typically are not given out in huge amounts. Typically a Chase signature loan will be given in the amount of one or two thousand at the maximum and a few hundred dollars at the low end. These loans are typically considered short term and are often used for a bridge loan when you are waiting to start a new job, or for a funeral or other unexpected emergency crisis.
Once you have your loan make sure that you keep your good credit score or make sure that you repair your damaged credit by making your payments on time and paying the whole loan off. If you don’t do this you will have a really hard time getting a future loan.
J.P. Morgan To Become Megabank
JP Morgan Chase To Buy Bear Stearns
Other Loans Offered By Chase
As is the case with most banks, mortgage loans, refinance mortgage loans, secured business loans, and unsecured business loans are the most common loans you'll find at JP Morgan Chase. However, they have basically every type of loan out there so it might be wise to have a talk with a loan officer no matter what type of financing you need.