Bank One Signature Loans

Bank One signature loans have become very popular over the last few years as the credit crisis has deepened and homeowners have, for lack of a better term, gone belly up and lost all of their wealth.  Many homeowners used their homes like ATM machines and assuming that the value of their house would go up year after year after year kept refinancing their home and pulling equity out of it.

In speculative areas it was even worse as people would buy multiple homes and assuming that they would go up forever they would keep refinancing the equity out of them in order to buy boats, cars, TV’s, vacations, etc.  As we have all learned this was a bad strategy as thousands of people have lost their homes and are in debt and can’t make ends meet.

Now people find themselves needing loans just to pay their bills because they got in way over their heads. We all make mistakes and the best thing to do right now is to get things straighted out, even if that means taking on more debt to get the bills paid.

So what do you do if you need some money and really don’t have any assets anymore?  You can’t get a collateralized loan with a nice interest rate and since your credit is slightly to very damaged you will have a hard time getting the ideal loan.  That being the case you will have to settle for a signature loan that at first glance looks great but upon further inspection leaves a lot to be desired. Of course if this is all that you qualify for and you need to put food on the table you will do it.

Bank One signature loans are one of the better options for the desperate borrower.  If you need money and have no assets to put up as collateral and therefore cheapen your interest rate and other loan costs you can still usually get a signature loan.  It will just come at a higher price then you want it to.

To get a loan of this type, first check your credit history to ensure that you have no mistakes that make your credit look worse then it already is.  Once you have done that see if there are any small outstanding debts that you can pay off and therefore enhancing your credit score even more.  Finally go in and ask to speak to the Bank One signature loan officer.

The Bank One signature loan officer specializes in signature loans and can be a huge help in getting you the right signature loan.  Some have very high rates, others have short or long terms of service, while others are for amounts to small to bother with.  By asking specifically for the Bank One signature loan officer you can be sure to get the service that you need in order to get a solid loan at the lowest rate possible.

There are a few simple requirements that you're going to have to meet if you want to get a signature loan:

1. You must be 18 years old
2. You must be employed or have another source of income
3. You must have a credit score of at least 650 (with most banks)
   

 Wells Fargo, Bank of America, Bank One, JP Morgan Chase.

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