Skip to main content

A guide to My Chase Loan®

minute read

    Quick insights

    • My Chase Loan is a feature of Chase credit cards that allows you to borrow money from your card’s available credit.
    • You pay back a My Chase Loan over a set period of time—based on the loan amount—with a fixed annual percentage rate (APR).
    • Because My Chase Loan uses an existing card’s available credit, there is no application or credit check required.

    Eligible Chase cardmembers have the option to turn a portion of their available credit into cash and have it deposited into their bank account in as little as 1-2 business days. That’s My Chase Loan—a feature of Chase credit cards you may be able to take advantage of. Read on to learn more.

    How does My Chase Loan work?

    My Chase Loan is a feature of Chase credit cards that provides a loan using a portion of a card’s existing, available credit limit and get the cash needed for life’s planned and unplanned expenses. There’s no application, credit check or new account to manage. If eligible, you choose an amount, the payment duration that works for you, then pay it off over time with a lower, fixed APR.

    Money can be deposited into a checking or savings account that’s normally used to pay an eligible credit card. Plus, because only a portion of your card’s available credit is used, you can continue to use your card.


    Each My Chase Loan offer will include an APR and the number of billing periods it will take to pay the balance in full. The APR charged on a My Chase Loan is based on several factors but is typically lower than your credit card’s standard purchase APR. You may be able to view the total estimated interest you’d pay when setting up a My Chase Loan.

    The exact amount of interest charged each month of the My Chase Loan term will vary based on the balance remaining. The loan balance will be higher toward the beginning of a plan, so the portion of each payment made up of interest charges will also be higher. As you begin to make regular payments and reduce your overall balance, your interest will also decrease.


    After setting up a My Chase Loan, the loan amount is added to your credit card’s current balance. Then, your credit card’s minimum payment due each billing cycle will include the monthly My Chase Loan payment. It’s that straightforward—you can make your scheduled My Chase Loan payments by simply paying your credit card bill each month as usual.

    If you’re eligible for a My Chase Loan offer, you’ll see the loan payment options after choosing an amount. It’s possible to set up automatic payments for My Chase Loan because monthly payments are factored into credit card statements after the loan is set up.


    There are no origination or early payoff fees with My Chase Loan. The terms of your credit card still apply during the loan term, though. So, in certain situations, other account fees may be charged, such as late payment fees.

    How to sign up for My Chase Loan

    A My Chase Loan offer will appear on eligible credit card accounts when you sign in to or the Chase Mobile® app. Offers might also be sent in online communications to eligible cardmembers. My Chase Loan can be requested by the primary cardmember, secondary cardmember or an authorizing officer.

    You can usually set up My Chase Loan in three steps:

    1. Choose your loan amount ($500 minimum)
    2. Choose your payment duration (based on your loan amount)
    3. Have the money deposited directly into your bank account in as little as 1-2 business days.

    Eligibility is based on a variety of factors, such as your credit profile, a card’s credit limit and past account behavior. Additional conditions might prevent My Chase Loan offers, as well. For example, My Chase Loan is not currently available to customers within the first 180 days an account is open.

    Are there pros and cons of My Chase Loan?

    We pointed out some core features when explaining how My Chase Loan works. It can be an important financial decision, and here are some things that could be pros or cons depending on your situation and goals.

    Potential upsides

    • No credit check: Applying for a personal loan usually requires the lender to check your credit, resulting in a hard inquiry on your credit report—not My Chase Loan.
    • No origination fees: Sometimes these are required for other personal loans or buy now, pay later products.
    • Straightforward repayment: You can make My Chase Loan payments by just paying the minimum amount due on your credit card bill each month—as usual.
    • Early payoff: You can pay off your My Chase Loan balance early without any penalties by paying your credit card’s statement balance in full.

    Possible downsides

    Remember that My Chase Loan uses your card’s available credit limit. You can still use your card for purchases, but your new credit limit for purchases may be lower than you’re used to. Would this stop you from using your credit card on certain purchases? It depends on your budget and spending habits. If you routinely spend below your credit limit, the decrease from your My Chase Loan may not always be a downside.

    In conclusion

    My Chase Loan is a way for eligible cardmembers to borrow funds from credit they already have on an existing Chase credit card and use the money for whatever they need, giving added flexibility to financial planning. If eligible, offers will be available when you sign in to your account at or the Chase Mobile app.

    Unlike traditional loans, My Chase Loan has no need for an application, credit check or separate account to manage. The APR is typically lower than your card’s standard purchase APR, and you can repay your loan by making your minimum monthly credit card payment as usual.

    What to read next