How Hard Is It to Apply for a Small Loan at the Bank?

Updated on October 02, 2012
L.D. asks from Fort Worth, TX
7 answers

So I was wanting to to go to the bank to apply for a small loan to have a tubal reversal.I only have a car debt and that's it.Credit score is about 800.
I guess I'm just wondering if it's easier to go to a big bank,credit union etc.?Do I really say what I am needing it for?
I would really not want to go into detail and tell the bank what I'm using the money for.

Thanks for the replies!

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So What Happened?

So itWasn't very hard to get the loan.I got a 36month at 9.%which wasn't that bad.My plan is to pay it off in 24months though.
As for care credit the interest was pretty high.I had already had a care credit acct.

Thanks for all the suggestions & tips!

More Answers



answers from Dallas on

you may be better off to apply for care credit - it's a credit card specifically for medical/veterinary use, and usually has 0% interest for 12 months or so. much easier than an unsecured loan at a bank!

7 moms found this helpful


answers from Washington DC on

your credit score is high enough that you may well qualify for a small unsecured loan. it depends on how *small* it really is, and your ability to repay it. it's probably worth a try.
they also have the right to ask what it's being used for. i disagree with the advice to lie about it. if you don't want to disclose that, i'd take out a credit card that you dedicate to this one procedure only and pay off in a year, then close.

3 moms found this helpful


answers from Dallas on

Personally, I would not do it. If i did, I would not take out a home equity and then lie about my plans. Lying will bite you in the rear in one way or another.

Find out what type of low interest plans your Dr has if you feel you have to do this right now. Will insurance cover any portion?

I'm not one for taking loans for anything.. my take is don't do it if you can't pay for it when you do it... that means cars, etc.

Best wishes with whatever you choose.

OMG... 9% is good???? Gees.

2 moms found this helpful


answers from San Francisco on

You should be able to get a small loan with your excellent credit score. As for telling them what it's for, just say medical expenses. They don't need to know or have a right to know any more than that. Medical issues are covered under privacy laws so they won't be able to inquire any further as to what your medical issues are.

2 moms found this helpful


answers from Chicago on

A credit union might be more open to a personal loan. You do not have to give full detail, even to a bank, regarding what the money would be for. Just state it is for a medical procedure if you must specify. It would all depend on your income and if they think you can pay it back. The other option is to get a credit card that allows you to charge without interest for a year or whatever and then split that into 12 months to pay off. Yes, more debt is a bit of a no no these days but this type of thing does not exactly have an infinity timeframe.

2 moms found this helpful


answers from Cumberland on

Do you own your home? Take out a home equity line of credit where the debt is leveraged against your (well it used to be) greatest, most appreciable asset-your home. Tell them you want to upgrade the bathrooms, or enlarge the deck.

2 moms found this helpful


answers from Dallas on

I agree with Jennifer T. A bank would not loan for something like this. It has no equity to secure the investment. Go with one of the services that offer financing for medical procedures. You can ask your physicians office staff about it or do some research online. A lot of plastic surgeons promote services in their offices so if push comes to shove, go to a PS office and grab the pamphlet out of the lobby;)

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