Is the Oportun Credit Card a good first time credit card?

Yes, Oportun does a hard inquiry when you apply for a loan. This credit report inquiry will likely drop your credit score by about 5 to 10 points, but you'll be able to get back on track with a few months of on-time payments.

Oportun's hard inquiry will stay on your credit report for two years, but it won't affect your credit after one year, and the impact may subside before then. To see how your individual credit score may be affected by a hard inquiry, you can use the ... read full answercredit score simulator on WalletHub.

It's worth noting that some people may be uncertain about whether Oportun does a hard inquiry because there's only a soft inquiry during the pre-qualification process. Soft inquiries do not impact your credit score. But that's just the first step, and a hard inquiry is required when you officially apply.

If not having a hard inquiry is important to you, lenders that don't do a hard pull at all include Integra Credit, NetCredit, and Opploans.

To cancel an Oportun Credit Card, call customer service at 1 (833) 676-7886 and ask a customer service rep to cancel your card account.

Be aware that if there’s a balance remaining on the canceled account, you will still need to make at least the minimum payment every month until the balance is paid in full. You will also need to update the payment method for any recurring charges linked to your Oportun Credit Card.... read full answer

How to Cancel an Oportun Credit Card

By phone

Call customer service at 1 (833) 676-7886 and enter your 16-digit accout number to verify your identity.

Then, follow the prompts to speak to a customer service representative, and let them know you want to cancel. The representative may offer you a retention bonus to keep you on as a customer, but you can simply decline the offer and proceed with canceling the account.

It’s important to know that when you cancel an Oportun Credit Card, you may see a decrease in your credit score, depending on the card’s credit limit and how long you’ve had the card. You can get an idea of how much a canceled credit card will affect your credit score by using WalletHub’s free credit score simulator.

The Oportun Credit Card accepts applicants with less than 3 years of credit history. This means that people with limited credit have a shot at getting approved for the card.

If that is not your case, then you will need at least a fair credit score (640+) to get the card.

Aside from the credit score, there are plenty of other things that will impact your chances of being approved for the Oportun Credit Card. Some other key criteria include your income, existing debt and employment status... read full answer