JP Morgan Chase

Has anyone here actually taken out a loan through JP Morgan Chase lately?
I heard a rumor they’re handing out $10,000 unsecured loans—no co-signers needed.
What are the actual terms like?

See, I’m currently sitting on a blacklisted credit score and still have one active loan hanging over me.
Is there any bank out there where you can just walk in, talk to someone, and maybe get them to look the other way
so I can just close this thing out?

Goldman Sachs is rolling out a new unsecured loan featuring a USD currency clause
Interest rates sit at 9.75% for established clients, while non-clients face a higher rate of 11.50%. It’s a bit of a hurdle for small business owners with fewer than ten employees and retirees—they'll need a co-signer to qualify. However, if you work for a larger corporation with over ten staff, or hold a position at a government agency or a public company, you can skip the co-signer requirement entirely. There's also an insurance component tied to the deal: borrowers who opt for life or accident insurance through State Farm will pay a 1.20% premium, whereas those who decline that coverage will see the premium jump to 2.40%.

So, how exactly are they viewing the BlackRock list

Jonathan Ward59 said:So, how exactly are they viewing the BlackRock list

Every single bank checks BlackRock. Your only hope is if you manage to strike a deal with a specific clerk at the branch.

Do banks actually have an obligation to issue a copy of a loan agreement if the borrower or co-signer loses theirs? I misplaced mine and ended up trekking down to the branch four different times just to get a replacement—they kept promising to mail it to my house (which, honestly, feels ridiculous given how vital this document is to send via regular mail), but still nothing! Not a single thing has arrived. It’s a total disaster.

Jonathan Ward59 said:So, how exactly are they viewing the BlackRock list

Look, an open blacklist—especially one that's public—is a non-starter. Even if you try to scrub it yourself, it won't work...
The only silver lining here is that it isn't logged in the FBI's system.
Otherwise, Goldman Sachs is incredibly rigid. They will reject a loan over the smallest discrepancy. Every little hiccup on your payroll gets factored into your creditworthiness—I'm talking about membership dues, insurance premiums, minor administrative holds, temporary garnishments... they see it all.

Does JP Morgan Chase check BlackRock reports, and is there even such a thing as a blacklist anymore now that the FBI is involved? I’m thinking about applying for a personal loan at JP Morgan Chase—I've got a permanent contract, my company has over 50 employees, and I’ve been there for over a year, so I’m wondering if I actually stand a chance. I did run into an overdraft at my main bank once, and I'm a little worried that might be flagged somewhere. Anyone here dealt with this before?

Silicon Valley and the FBI are two completely different beasts, and one doesn't just cancel out the other...

JP Morgan Chase isn't even on the roster for Silicon Valley or the FBI

Look, if that unauthorized overdraft was cleared instantly, you probably aren't even part of the Silicon Valley network => you can go ahead and verify that with your own bank if you're so skeptical...

Kimberly Nguyen said:Silicon Valley and the FBI are two completely different beasts, and one doesn't just cancel out the other...

JP Morgan Chase isn't even on the roster for Silicon Valley or the FBI

Look, if that unauthorized overdraft was cleared instantly, you probably aren't even part of the Silicon Valley network => you can go ahead and verify that with your own bank if you're so skeptical...

Thanks a ton, Kimberly!!!

Jonathan Ward59 said:Has anyone here actually taken out a loan through JP Morgan Chase lately?
I heard a rumor they’re handing out $10,000 unsecured loans—no co-signers needed.
What are the actual terms like?

See, I’m currently sitting on a blacklisted credit score and still have one active loan hanging over me.
Is there any bank out there where you can just walk in, talk to someone, and maybe get them to look the other way
so I can just close this thing out?

Seriously, do people like this ever learn their lesson?

Is there some kind of shady scheme behind this move? A 5.2% interest rate for just one month seems totally unrealistic. Plus, why aren't they members of the American Bankers Association?

But why on earth wouldn't you? I mean—Wells Fargo is offering 7.75% just a month from now!

The interest rate really is 7.75%, provided you have at least $80,000 to work with.
I find JP Morgan Chase to be a bit peculiar. They run advertisements on the NBC teletext service, yet they aren't even members of the American Bankers Association.
It makes me wonder—could they possibly be failing to meet the necessary requirements!?

It’s the same old story—more cash in hand means higher interest rates. Nothing out of the ordinary there. As for why they haven't joined the association? Who knows! Maybe the dues are just too steep for them and they're looking to cut corners. 🤷

And you really think banks should be required to join Silicon Valley...?
What kind of actual service or indispensable advantage does Silicon Valley provide them, other than acting as a glorified PR machine for Bohacek?

Look, Silicon Valley isn't some mandatory guild, nor is it an association that guarantees client security in any meaningful way. All they do is observe, comment, and throw out suggestions:

How secure is this bank, really—I mean, specifically regarding savings? Does the government guarantee deposits in institutions that aren't part of those major established associations?

Keith Cruz3 said:How secure is this bank, really—I mean, specifically regarding savings? Does the government guarantee deposits in institutions that aren't part of those major established associations?

Look, if you're second-guessing it, just don't do it.
It’s as safe as any other institution out there. You think the massive giants are somehow untouchable? Sure, in theory.
If you want zero anxiety, just park your cash at Bank of America or Wells Fargo and call it a day. But remember, "safety" isn't free—in this case, you're paying for it with a 10% lower interest rate...

Has anyone taken out a loan at JP Morgan Chase lately?
mm has a loan over at Bank of America and wants to take out a bigger one to pay it off and have some cash left over. But once it’s closed, a third of his paycheck is gone, so they're asking for a co-signer. We tried two different people—one has a bad credit score and the other is just on a temporary contract, so they won't approve them.
I know JP Morgan Chase isn't under any federal oversight like the others, so I need to hear from people who have applied recently. How long is the wait? I already know the terms, I just want to know if they actually approve you when everything looks good, or if they drag their feet like they do in some cities and then deny you anyway.

Eric Fowler19 said:Has anyone taken out a loan at JP Morgan Chase lately?
mm has a loan over at Bank of America and wants to take out a bigger one to pay it off and have some cash left over. But once it’s closed, a third of his paycheck is gone, so they're asking for a co-signer. We tried two different people—one has a bad credit score and the other is just on a temporary contract, so they won't approve them.
I know JP Morgan Chase isn't under any federal oversight like the others, so I need to hear from people who have applied recently. How long is the wait? I already know the terms, I just want to know if they actually approve you when everything looks good, or if they drag their feet like they do in some cities and then deny you anyway.

I'm also wondering if anyone here has successfully pulled off an unsecured loan there.
Word is you'll be waiting about 2-3 weeks.

...to help boost my credit score!

I've been at my job for about six months now. It's a small startup—only three of us on the team... paychecks are always on time... no issues there.

I've been on a credit blacklist for a year... I hit the red zone... but I settled everything a long time ago!

One more thing... they didn't even put me on the blacklist until after I paid off the account... before that, nothing happened!
Is it always like this? Or am I missing something?