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OneMain Financial Review

OneMain Financial is a lending platform that is accessible to borrowers with low credit scores and low income. OneMain reviews applicants’ entire credit history and ability to repay a loan when evaluating applicants. Applicants can also secure a loan with collateral.

OneMain review hero image
Est. APR
Loan Repayment Up to 60 months
Loan Amounts
Loan Amount $1.5K-$20K
Min. Credit Score
Min. Credit Score Undisclosed
Jason Steel
Written by:Jason Steel
Personal Finance Journalist

Reviewed by: Carrie Pallardy, Freelance Writer and Editor

Fact Checked by: Somer G. Anderson, Accounting and Finance Professor Ph.D., CPA, CGMA, CFE


Many or all of the products featured here are from our partners who compensate us. This may affect which companies we write about and where the company appears on a page. However, any analyses or reviews expressed in this article are those of the author alone and have not been approved or endorsed by any partner.

OneMain offers loans for debt consolidation, auto repair, medical procedures, and more. Before closing on a loan from OneMain, applicants need to provide:

  • A copy of a valid, government-issued ID, such as a driver’s license or passport
  • Proof of residence, such as , a driver’s license with your current address, a utility bill, or a signed lease
  • Proof of income, such as pay stubs or tax returns

Summarized Rating

Loan Features2.5
Interest Rates and Fees2
Qualification Leniency5
Application Process4
Customer Support4.5
User Reviews3.7
Perks Bonus5

This parameter considers loan term lengths, loan minimums and maximums, and the extent of loan use limitations. Each of these features was evaluated using the five-point scoring system. Then, the various scores were aggregated and averaged to establish an overall loan features score.

OneMain gets a worst-in-class 2.5 for Loan Features. This reflects the lender’s average term lengths, minimum loan limits and loan use limitations. A 1.0 for the lowest possible maximum loan is a drag.

OneMain Financial Pros and Cons

OneMain Financial Pros
Flexible payment date
Joint and secured loans
Loan funding the same or next business day
Direct payment to creditors
Options for low credit borrowers
OneMain Financial Cons
No autopay discount
Origination fee
Rates can be high
Loan limit of $20,000

Types of Personal Loans Offered by OneMain Financia

OneMain offers personal loans for a variety of reasons, but there are very few prohibited uses for their personal loans.

Common loan uses Prohibited uses
Debt consolidation Gambling
Home repair Illegal activities
Auto repair Starting a business
Medical procedures Student loans
Wedding expenses Investing in securities

OneMain Financial Loan Features

OneMain offers multiple loan types, including personal loans for home repair, debt consolidation and medical bills. Borrowers have access to personal loan terms of 24, 36, 48, or 60 months. OneMain offers personal loans between $1,500 and $20,000.

However, there are state-specific minimums in Alabama ($2,100), California ($3,000), Georgia ($3,100), North Dakota ($2,000), Ohio ($2,000), and Virginia ($2,600). Borrowers in North Carolina are subject to a maximum secured loan of $7,500.

Loan terms 24, 36, 48, or 60 months
Loan amount $1,500 to $20,000
Loan use limitations None

OneMain Financial Interest Rates and Fees

OneMain charges an origination fee, which is a one-time fee that’s deducted from the loan proceeds before they are delivered to the borrower. OneMain doesn’t charge prepayment penalties. They do charge late payment fees and a fee for insufficient funds. Origination fees and late payment fees may be subject to certain state limits.

OneMain also charges fees associated with perfecting its lien on a motor vehicle’s certificate of title.

Interest Rates 18% to 35.99%
Prepayment fees None
Late Payment fees Flat fee: $5 to $30 1.5%

Percentage-based fee: 1.5% to 15%

to 15%

Other fees on-sufficient funds fee: $10 to $50

OneMain Financial Qualification Requirements

OneMain accepts some applicants with low credit scores and low incomes. OneMain reviews applicants’ entire credit history, income, expenses, and ability to repay a loan. Applicants can also secure a loan with collateral.

Applicants with a lower credit score can typically expect a higher interest rate because they can be deemed to be a riskier borrower. In addition to your credit score, One Main will consider your debt-to-income (DTI) ratio. If you have a DTI ratio of 35% or less, most lenders will consider you a good personal loan candidate.

Membership requirement None
Minimum credit score Unknown
Income requirements Unknown
Co-signer/joint application requirements Co-applicants are allowed.

Co-signers are not allowed.

OneMain Financial Application Process

Checking your loan offers on OneMain will not affect your credit score. When you check your rate, OneMain makes a "soft credit inquiry." You may see this inquiry when you view your credit report, but it will not impact your credit score.

If you are offered a loan and proceed with the application, a "hard credit inquiry" will be completed to verify the accuracy of your application. This action may impact your credit score.

OneMain accepts collateral to secure a loan during the application process. Examples of accepted collateral include automobiles, trucks, motorcycles, boats, campers, and RVs. Any potential collateral will be appraised to determine whether it is of sufficient value.

Vehicles used as collateral must be insured for the term of the loan. Active duty military, their spouses, and all dependents covered by the Military Lending Act cannot useany vehicle as collateral.

Application Process Step-by-Step

To begin the application process for a personal loan, enter how much you would like to borrow. Make sure you adhere to any state-specific minimum laws.

Next, fill out your name and zip code.

Fill out your address.

OneMain then asks for your email address and phone number.

Next, input your net monthly income, which is your income each month after taxes and deductions. This may include your monthly salary, Social Security, pensions, or other sources of income. You don’t need to include alimony, child support, or separate maintenance income unless you want to have it considered as a basis for repaying this loan.

Then, select your source of income.

Answer whether you own or lease a vehicle, or neither.

Next, complete your birthday and last four digits of your social security or tax ID.

Finally, agree to the terms of use.

If you are approved for a loan, OneMain allows seven calendar days from the date of your loan to cancel. When canceling a loan for purchase of a vehicle or other item, make sure that your seller agrees to cancel the sale. After your seller refunds your money, return it to OneMain within the allotted seven days.

OneMain Financial Customer Support

Onemain offers a variety of ways to contact customer support, including:


Available on Monday to Friday 8 am to 8 pm EST

Loans: 800-290-7002

Loan applications: 800-525-0451

Web and app help: 800-325-2146


Send your mail to - OneMain Holdings, Inc., 601 N.W. Second Street, Evansville, IN 47708-1013


Online ticketing form

In general, people seem satisfied with the customer support from OneMain. Here is what a few customers said about their experience:

The customer service reps were very helpful and patient. They walked me through every step that needed to be done as to not have to redo the paperwork. They were very courteous and I appreciate that as I have worked in customer service as well.

Absolutely AMAZING customer service and explained everything to me etc.. I will definitely use them again when and if needed!!

However, there were a few people who had a mixed experience with customer service.

I have been a customer of One Main Financial since 2016. I have NEVER experienced such poor service from their customer representatives. They are unprofessional, do not have a clue on how to review your account, cannot answer intelligent questions are abrasive...... basically SIMPLETONS! If I had a choice, I would never have done any business with this wanna be lender. Once the papers are signed, you need good, qualified customer service reps to deal with until the loan has been satisfied. You WILL NOT find great customer service at One Main Financial. Do yourself a favor and RUN from this predator.

This was the worst customer experience I have ever dealt with. Insane. The closer missed a number on my account number and my money is hanging in limbo somewhere so that’s that.

OneMain Financial Online Reviews

Overall, reviews of OneMain are mostly positive. OneMain received 88% “excellent” ratings on People frequently comment on the quick and easy loan approval process. Many were happy with the experience and had no complaints. The negative reviews are mostly related to high interest rates. Some reviewers reported entering their information and having a hard pull on their credit, only to have been denied for a loan after.

The positive reviews are related to The negative reviews are related to
Quick and easy loan approval process High interest rates
Customer service Hard pull only to get denied for a loan

OneMain Financial Perks and Bonuses


  • OneMain doesn’t offer discounts.
  • Onemain doesn’t allow for payment deferral or payment skipping optionality during times of hardship.
  • OneMain doesn’t allow for modification of loan terms.


  • OneMain maintains a professional website that is informative, intuitive, and free of misleading advertising and sales gimmicks.
  • OneMain has no history of complaints from customers regarding poor sales practices.


  • OneMain offers the ability to pay online.
  • OneMain allows automatic payments.
  • OneMain has a mobile application, where you can make payments, track your VantageScore credit score monthly, view your statement, and more.
  • OneMain provides loan management tools in its mobile app to learn budgeting, how to manage credit, and more.
  • OneMain offers quick courses, calculators, and educational content.

OneMain Financial Compared to Other Lenders

There are a few other lenders that you can compare to OneMain.

OneMain Financial Upstart Best Egg Upgrade
Loan terms 2 to 5 years 3 to 5 years 3 to 5 years 2 to 7 years
Loan amount $1,500 to $20,000 $1,00 to $50,000 $2,000 to $50,000 $1,000 to $50,000
Interest rates 18% to 35.99% 5.6% to 35.99% 5.99% to 35.99% 6.95% to 35.97%
Minimum credit score Unknown 300 600 560
Co-signer requirement Co-applicants allowed but co-signers not allowed Co-applicants and co-signers not allowed Co-applicants and co-signers not allowed Co-applicants allowed but co-signers not allowed

Final Thoughts

OneMain is an accessible lending platform for borrowers with poor credit and low income. OneMain offers loans for many common purposes, such as debt consolidation, auto repair, and medical procedures. OneMain offers joint and secured loans. Loan funds can be available as quickly as the same or next business day. Borrowers have the ability to choose their payment date. Although interest rates can be high, Upstart can be an accessible and quick option for customers looking for a loan who may otherwise not qualify for a loan.

About the Author

Jason Steel

Written by: Jason Steel

Personal Finance Journalist

Jason Steele is one of the nation’s leading personal finance journalists, specializing in credit cards, consumer credit and travel rewards. Since 2008, his work has appeared in over 100 outlets including The Points Guy,,, SlickDeals and Business Insider.

More about me
Carrie Pallardy

Reviewed by: Carrie Pallardy

Freelance Writer and Editor

Carrie Pallardy has six years of experienceas as a dedicated freelance writer and editor. She covers a wide variety of topics, including personal finance, insurance, and cybersecurity. Carrie has written for Investopedia, Policygenius, and more.

More about me
Somer G. Anderson

Fact checked by: Somer G. Anderson

Accounting and Finance Professor Ph.D., CPA, CGMA, CFE

Somer G. Anderson has been working in the Accounting and Finance industries for over 20 years as a financial statement auditor, a finance manager in a large healthcare organization, and a Finance and Accounting professor at Maryville University.

More about me