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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.
OppLoans Pros
OppLoans Cons
Types of Personal Loans OppLoans Offers
OppLoans offers installment loans that can be used for surprise repairs or everyday bills. In fact, you can use an OppLoans personal loan for almost anything. The lender doesn’t specify any prohibited uses, but most lenders don’t allow you to use personal loans for illegal activity.
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Common loan uses |
Prohibited uses |
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OppLoans Loan Features
You can borrow between $500 and $4,000 from OppLoans for any purpose, though the available amounts may vary by state. You’ll begin repayment the month after receiving your funds and pay monthly installments for 9 to 18 months. That’s much longer than the repayment term for a payday loan, but is shorter than the repayment term on a traditional personal loan. Be sure you have a plan to repay your OppLoans loan within the designated time frame.
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Loan terms |
9 to 18 months |
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Repayment period |
Immediate |
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Loan amount |
$500 to $4,000 |
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Loan Use Limitations |
None |
OppLoans Interest Rates and Fees
OppLoans APRs range from 59% to 160%, depending where you live. Even though the lender doesn’t charge any fees, the cost of borrowing is high. Luckily, you can pay off your loan early or refinance it to save money on interest.
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Borrowing/Origination Fees |
None |
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Prepayment Fees |
None |
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Late Payment Fees |
None |
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Other fees |
None |
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Interest Rates |
59% to 160% |
OppLoans Qualification Requirements
OppLoans does not have minimum credit score or income requirements, but you must receive income through direct deposit to be eligible. Sources of income can include federal benefits. OppLoans doesn’t allow you to apply with a co-signer or co-borrower, so you must qualify for the loan on your own.
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Membership Requirement |
None |
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Minimum Credit Score |
None |
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Income Requirements |
Income through direct deposit |
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Co-signer/Joint Application Requirements |
Solo applications only |
OppLoans Application Process
First, make sure you meet the eligibility requirements for an OppLoans personal loan. Then click “Start New Application.” You can also call OppLoans customer service for assistance with your application from a Loan Advocate at any time.
On the next two pages, enter your full name and contact information.
You’ll also need to upload proof of income and add your bank account. And you’ll also need to provide your social security number, which OppLoans will use to evaluate information from the alternate credit bureaus. OppLoans will not run a hard credit check.
If you’re approved, you’ll need to sign and accept your loan documents. The money can be deposited into your bank account within one business day after acceptance. It’s a good idea to set up ACH debits for repayment, but you can also pay with a debit card.
OppLoans Customer Support
OppLoans operates extended customer service hours during weekdays to make it convenient for borrowers to get in touch. You can call 800-990-9130 on weekdays between 7am and 11:30pm CT or weekends between 9am and 5pm CT. You can also email OppLoans at one of the email addresses below:
- info@opploans.com for general questions
- payments@opploans.com for existing borrowers
- customercomplaints@opploans.com for complaints
- resolutions@opploans.com for improper credit reporting
- fraud@opploans.com for identity theft concerns
OppLoans has a great reputation for customer service. Customers on Trustpilot, Google, ConsumerAffairs, and the Better Business Bureau all have great things to say about the OppLoans Loan Advocates.
For example, one customer wrote, “They are a great company to work with when you need financial help. The representatives are willing to go above and beyond for their customers.” And another wrote, “OppLoans provides a great service for those without perfect credit. Their customer service deserves praise. I’ve enjoyed all my interactions with them and highly recommend their services.” Some borrowers even mention their customer service representatives by name and are pleased with the service they received.
OppLoans Online Reviews
Customer reviews of OppLoans are mostly outstanding. In addition to the friendly customer service, customers have great things to say about the quick and easy loan application process, the speed of funding, and even the interest rates, which borrowers report are lower than the competition. However, a few customers had the experience of a slower process, while others complained about being denied or having mounting interest from missed payments.
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The positive reviews are related to |
The negative reviews are related to |
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Quick and easy loan approval process |
High interest rates |
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Fast funding |
Slow process |
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Friendly and professional customer service |
Denials despite meeting eligibility criteria |
OppLoans Perks and Bonuses
Flexibility
OppLoans doesn’t offer any formal forbearance programs or payment flexibility, but the lender recognizes that everyone’s situation is unique and encourages borrowers to call if they are worried about default. You may also be eligible to refinance if you’ve paid 15% or $400 on your current loan and are not past due.
Transparency
OppLoans maintains an incredibly helpful and transparent website. The OppU Hub has courses that teach all the basics of personal finance, from budgeting and saving to building credit. There are also helpful articles addressing common financial questions. Even if you don’t end up borrowing from OppLoans, these resources are free to use.
Technology
OppLoans offers a mobile-friendly online application and an online payment portal. You have the option to make a debit card payment on your due date or set up ACH debits. There’s no mobile app or live chat, however, which is something we think OppLoans could improve.
OppLoans Compared to Other Lenders
If you have a credit score above 640, you’ll get the most favorable rates and terms from Best Egg. But if you can’t qualify for a loan with a credit check, you might consider OppLoans for a small loan or 60MonthLoans for a larger loan. Both lenders offer safer terms and lower rates than payday lenders, and both have a great reputation for customer service.
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OppLoans |
60MonthLoans |
Best Egg |
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Loan Terms |
9 to 18 months |
12 to 60 months |
36 to 60 months |
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Loan amount |
$500 to $4,000 |
$2,600 to $10,000 |
$2,000 to $50,000 |
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Interest Rates |
59% to 160% |
19.57% to 69.73% |
5.99% to 35.99% |
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Min Credit Score |
None |
None |
640 |
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Co-signer Requirement |
No co-signers allowed |
No co-signers allowed |
No co-signers allowed |
Final Thoughts
If you need emergency cash and can’t qualify for a traditional personal loan, OppLoans provides a no credit check alternative that is relatively safe. The lender receives high praise for its customer service. And responsible repayment on an OppLoans personal loan can improve your credit score. Just make sure you’ve exhausted your other options, like applying with a co-signer at another online lender to try to get a lower rate, before you borrow from OppLoans. If you need a loan of more than $2,600, you may be better served by 60MonthLoans, which offers longer terms. It’s a good idea to compare the rates offered by each lender in your state.
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