No, Citibank does not offer joint personal loans, unlike some personal loan providers. A joint application allows two people to put their names on the loan and apply together, as well as share responsibility for paying back the loan.
Though Citibank does not do joint personal loans, there are quite a few lenders out there that do. You can check out WalletHub's picks for the best personal loans that allow joint applications or cosigners to find some good offers. You can also use WalletHub's free personal loan pre-qualification tool to see which loans you might be able to qualify for individually.
Applicants need a credit score of 680 to get a personal loan from Citibank, according to multiple third-party sources. That means the Citibank personal loan credit score requirement is in the fair credit range. To put this in perspective, most other lenders' credit score requirements for personal loans range between 585 and 700.… read full answer
Keep in mind that just having a 680 credit score is not enough to qualify you for a Citibank personal loan. Citibank will consider your entire financial profile, including things like your income, existing debts and recent credit inquiries, when deciding whether to approve you. It's also worth noting that some applicants might be able to get a personal loan from Citibank with a slightly lower score if it's offset by other factors like an especially high income. But it's best to wait to apply until your score meets the threshold.
It takes up to 12 business days to get money from a Citibank personal loan, in most cases. That includes both the time it takes to get approved and the time it takes for the funds to be delivered after approval. Keep in mind that this is a typical applicant's experience, and in some cases it could take longer.… read full answer
How to Get Money From Citibank as Fast as Possible
Fill out the application carefully. You should make sure that all information you enter on the application is correct and complete. That will eliminate any potential delays from Citibank having to request additional information.
Check your credit report for errors. Before you apply, you should verify that everything on your credit report is accurate, as any incorrect negatives on there could impact your chances of approval. If you find any errors, you should dispute them right away to get them removed.
Get your credit score above the minimum. Ideally, you should only apply for a Citibank personal loan once your credit score exceeds the minimum requirement of 680. That will make it easier for Citibank to decide whether you qualify, which could lead to a quicker decision.
Apply online. Online applications have the fastest processing times since they are automated and streamlined.
Get an electronic funds transfer. Citibank offers loan payouts through an electronic funds transfer to your bank account or by paper check. The transfer is the faster option.
If you want to get a personal loan with no credit and no cosigner, your options are limited to credit-builder loans, secured personal loans, home equity loans and borrowing from alternative sources like friends and family. Having no credit disqualifies you from getting most unsecured loans, as lenders usually require an established credit score of 600 or higher.… read full answer
You could get around that issue if you had a cosigner, as the lender would use that person’s credit in the decision instead of yours. But without a cosigner, you have to rely on what you do have – income and collateral.
How to get a personal loan with no credit and no cosigner:
Get a secured personal loan. Your credit, or lack thereof, doesn’t matter as much when you put up collateral to secure a loan. The lender can take possession of the collateral if you default, which means they have far less risk in lending to you.
You can find secured personal loans at banks like Wells Fargo, Fifth Third Bank, KeyBank and PNC. You can also ask about them at your local credit unions. There are online lenders that offer secured personal loans, too. But make sure they’re not predatory payday loans or auto title loans that charge excessive fees.
Take out a credit-builder loan. This is a type of loan where the lender sets aside a certain sum of money in a savings account for you. Then, you pay that amount back in monthly installments and receive access to the account with all your money at the end. Plus, the lender reports to the credit bureaus each month, helping you build your credit score.
The only problem is that this process is kind of backward if you need money upfront. So it’s really only intended for building credit rather than getting money. If you’re interested in a credit-builder loan, check your local banks and credit unions.
Use your home equity. Home equity loans are another type of secured loan. But they can be for much larger sums because the amount you can borrow is based on the value of your house minus the amount you have left to pay on the mortgage. So if your house is mostly paid off and is worth a lot of money, you could get a big loan. It’s not common that someone would own a home yet have no credit history, but it is possible.
Borrow from someone you know. A family member or friend isn’t as likely to care if you don’t have credit history. You may be able to convince them to give you a loan. But in order to avoid any relationship problems with that person in the future, you should make sure you have a written agreement and a plan to pay them back.
All in all, it’s not impossible to get a personal loan with no credit and no cosigner, but your options aren’t the greatest either. If you only need a few hundred dollars, you can always apply for a credit card for people with no credit. Then, you’ll have a credit line to draw on whenever you need it, and the ability to carry a balance between months if necessary.
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