Discover Personal Loans is one of the loans offered by Discover financial services company. You can use this loan to consolidate your debts, go on a vacation, finance your wedding, remodel your home, and lots more.
This article would educate you on everything you need to know about this loan, the requirements, how to apply, and lots more.
Discover Personal Loans
When you have a good credit score, you can get a personal loan from Discover with a low Annual Percentage Rate (APR). This is because a higher credit score indicates your ability to repay the loan on time.
Other services offered by Discover include checking and saving accounts, credit cards, online banking, mobile banking, student loans, etc.
Benefits of Discover Personal Loans
Are you wondering why you should go for the personal loans offered by Discover? If your answer is yes, you should go through the benefits of the loans listed below:
- There is no origination fee attached to the loan.
- The repayment plans are also flexible for all the loan amounts.
- You have the choice to pay off your creditors directly.
- When you return your loan funds within 30 days, you don’t have to pay interest.
- Good customer service
- You can customize your loan amount and length.
In addition to this, you can manage your account online at discover.com or with the discover mobile app. You would learn how to apply for this loan as you keep on reading.
Discover Personal Loans Apply
Before the application, decide on what you want to use the loan for. The loan could be for the purpose of debt consolidation, improving your home, etc. When you decide on the purpose of the loan, you will know how much you need to borrow.
You should also calculate how much you would be able to repay monthly after taking the loan. Another important factor you should consider is your credit score and how credit-worthy you are. Discover has made it easier for applicants as their rates would be checked before they are granted the loan request.
How to Apply for Discover Personal Loans Online
The online application is the fastest way to apply for the Discover loan. You can do this with the steps below:
- Open a browser on your internet-connected device.
- Visit the Discover web page online with the URL discover.com
- Click on the menu button on the left-hand side of your display screen.
- Navigate to “Personal Loans” and click on it.
- If you have received an invitation from the company, click on “Enter Invitation ID#” and enter the Number.
- If you have not received an invitation to apply, enter how much you need.
- Select the purpose of the loan (i.e., Auto repair, medical expenses, etc.).
- Choose “Check Your Rate”.
- Select your Loan term in months on the application form.
- Fill in your “Name”, “Address”, “City”, “ZIP code”, “Phone Number” and “Personal Email Address”.
- Go through the terms and conditions on the page and tick the box indicating that you agree with them.
- Click on “Continue” at the bottom of the form.
Follow the rest instructions on your screen to check your rate. If you qualify for the loan, you would be sent an invitation letter by the company and you can use the Number on this letter to complete the application process online.
Discover Personal Loans Sign Up
During the application process online, you would be required to create an account on the website. However, if you applied for a Discover loan physically at any of the company’s branches, you need to create an account online.
How to Create an Account on www.discover.com
Follow the steps below to create an account on the website:
- Go to discover.com with your device.
- Click on “Log In” at the top right corner of your display screen.
- Choose “Register Your Account” on the pop-up menu.
- Go to Personal Loans and click on “Register Now”.
- Enter the last 4 digits of your Personal Loan account number.
- Fill in your “Date of Birth”, “SSN” and “Mother’s Maiden Name” in the required fields.
- Click on Continue.
Some instructions would be displayed on your screen, follow them and the account setup would be completed.
Discover Personal Loans Login
When you get a Personal loan from Discover, you can set manage your loan online. If you have created a personal account, you can log in to your account at any time to repay your loan, set up automatic payments, view your loan statements and carry out other activities.
The Discover mobile app also allows customers to access their Discover loan accounts. To learn how to access your account, keep on reading.
How to Login to your Discover Personal Loan Account Online
The steps below would guide you on how to access your account on discover.com:
- Visit the company’s webpage at discover.com
- Click on “Log In” at the top of your screen.
- Enter your Account “User ID” and “Password”.
- Select “Personal Loans” from the drop down menu.
- Click on “Log In” at the bottom of the form.
This would give you access to your personal account where you can manage it. Click on “Forgot User ID/Password?” to recover your forgotten login details.
Discover Personal Loans Status
You can check your Discover loan application status by contacting Discover customer service. The customer service would help you track your loan application status. This department is also open to those who have issues with their personal loan repayments.
Discover Customer Service
Discover Customer service is open to customers that need help with any of the products and services offered by the company. If you are interested in the personal loans offered by the company, you can get assistance from this department. From the personal loan application process to repayment.
You can contact the customer service unit online by visiting www.discover.com and clicking on “Personal Loan Help” under “Help and Resources”.
Frequently Asked Questions
What Credit Score Do I Need to Apply for the Discover Loan?
To qualify for the Discover Personal loan, you need a minimum credit score of 720. This means that you have a high chance of getting the loan when you have an excellent credit score.
What are the Discover Personal Loan Requirements?
You should be at least 18 years to apply for a personal loan from Discover, also the application is open to only U.S citizens. The documents that would be required from you upon application include your paystubs, bank statements, driver’s ID, Tax information, Bank account number, routing number, etc.
How Long Does It Take to Get the Discover Personal Loan?
When you apply for the Discover loan online, you can get it the same day. If you are approved for the loan, you would be sent the loan terms and reviews. When you accept them, you can choose for the funds to be sent to your bank account or directly to your creditor’s account.
How Do I Repay My Discover Loan?
You can repay your loan by logging in to your Discover Personal loan account online. You can also download the Discover mobile app on your device to make payments. The last option you have is to contact Discover Customer service.
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