BBVA Compass Personal Loan

BBVA Compass Personal Loan

Personal loan can be a great idea to consolidate debts, plan a vacation or improve your home interiors. All of us need that extra bit of cash from time to time. Signature express is one such personal loan that will meet all your varied requirements. It is also the fastest way to obtain cash.


Signature Express Loan

Being a part of BBVA Compass, you can apply for Signature Express loan only in the following states:

  • Arizona
  • California
  • Colorado
  • Florida
  • New Mexico
  • Texas

You have to fill up a simple online form and get in touch with loan officials at the earliest. They would then guide you with their loan terms, interest rates and repayment period. The bank’s APR varies between 6.07% and 35.06% and is dependent on the borrower’s credit history.

You can borrow as little as $2,000 or as high as $150,000. Loan amounts up to $50,000 can receive funding the same day provided the customer meets all loan requirements. With quick access to cash and easy application process Signature Express can be a good choice.

Why Signature Express Loan

  • Affordable Borrowing – Loan officials do a thorough check and compare between what you can afford and what you really want. They sit with you to explain what will suit your budget the best. After all, borrowing is an important decision and they don’t want to put you in trouble later on.
  • Loan Rate Discount – The bank offers a special discount of 1.00% interest rate to all its customers who set-up auto-debit loan payments from their checking account. This discount is applicable on your final interest rate.
  • Simplified Budgeting – Customers can choose their date of payment and set auto-debit on that particular date each month. This does away with the hassle of remembering to pay your monthly payments and also saves you a lot of time.

Why Say No to Signature Express Loan

  • Poor Customer Service –People claim that the customer service rendered by the bank is very poor. There have been cases where customers could not connect to any of the bank’s official through phone and had to come to the bank personally.
  • Different Kinds of Charges – The bank charges fees for each and everything they offer. Whether it is opening an account, balance transfer, applying for loan or even to close an account, customers have to pay heavily from their pockets.
  • Heavy Penalty for Late Payments –Customers are charged 3% penalty + $25 if they miss their monthly payment. Not only that, the bank reports to the credit bureau, thus affecting your credit score.

All personal loans come with their own merits and demerits. Similarly, Signature Express too has its own ups and downs. Some other advantages of choosing BBVA personal loans are competitive rate of interest and easy payback option.

The bank offers loans without any collateral so you need not worry about putting your personal assets at stake. Money will be available as per your needs and you are not required to mention the purpose of the loan.

Signature Express loan suits everyone having an excellent credit history or even those having an adverse credit. All that varies is the rate of interest and other terms of payment.  It is therefore advised to pay your debts on time so that you get to enjoy the benefits of personal loans.

BBVA Personal Line of Credit

A line of credit works great when you need small funds for quite a long time, such as to pay for education or home remodeling. BBVA offers several credit line options for individuals and businesses. Some of these are being mentioned here.

Home Equity Line of Credit

Popularly known as HELOC, it is available for a term draw period of up to 20 years with repayment period ranging between 10 and 15 years. It probably offers the lowest interest rate, but is accessible for homeowners only. Moreover, it also offers a fixed-rate option with fixed monthly payments.

Among the benefits include low payments, quick access, potential tax savings and little to no closing costs. HELOCs are good for home improvements, unexpected expenses and debt consolidation.

Business Line of Credit

Business owners have a couple of choices at BBVA when it comes to applying for a line of credit. While Convenience Line of Credit offers up to $100,000 of unsecured lines, Convenience Line of Credit Express comes with unsecured lines of just $35,000. However, the latter is faster and promises to fund within 24 hours. Also, it is available for a business that has been in existence for just an year.

The bank offers a traditional line of credit also. It comes with secured as well as unsecured lines of up to $100,000. The biggest advantage with it is the convenience of interest-only payments. Funds are accessible via check, phone or in the branch.

BBVA Debt Consolidation

BBVA perosnal loans are great ways to consolidate credit card debts. Choose between a loan or line of credit to begin your debt consolidation plan. The various lending options detailed above can help you choose the best.

It is important to decide whether debt consolidation can really help you come out of the financial mess. Sometimes, it might not be a good idea to consolidate debts. You need to look at the real cause of your debt and find areas where you can cut expenses. It is also important to decide which debt to pay off first.

Take precautions while applying for a debt consolidation loan. It is especially important when you are struggling with bad credit and not many lenders are willing to give you a credit. Follow some simple tips to avoid bad credit loan scams and stay protected. Also, you may find it helpful to draft a long-term money management plan and pay off loans quickly with easy financing solutions available at BBVA.


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