Yes, Plain Green can be trusted because it has a “B” from the Better Business Bureau. Plain Green also has an average rating of 2.1/5 among users on WalletHub, and WalletHub’s editors gave the company’s personal loans a rating of 1.8/5.
Why Plain Green Is Trustworthy
Plain Green has a B from the Better Business Bureau.
Plain Green has an average user rating of 2.1/5 on WalletHub.
WalletHub’s editors gave the company’s personal loans a 1.8/5 rating.
The company lists product terms and conditions on its website.
The company’s website is secure.
To read more, check out the full Plain Green personal loan review on WalletHub.
Plain Green does not disclose a specific credit score needed to get a personal loan, unlike many personal loan providers. Although there isn't a specified Plain Green credit score requirement, Plain Green will consider people who have bad credit, according to customer service. Most other lenders' credit score requirements for personal loans range between 585 and 700.… read full answer
Keep in mind that Plain Green will look at more than just your credit score when evaluating your application for a personal loan. Plain Green will consider your entire financial profile, including things like your income, existing debts and recent credit inquiries, when deciding whether to approve you.
Yes, a Plain Green personal loan does affect your credit score, both when you apply and during the entire time that you are paying the loan off. Initially, a Plain Greenpersonal loan will affect your credit score in a negative way, but the long-term impact can be very positive, assuming you repay the loan on schedule.… read full answer
How a Plain Green Personal Loan Affects Your Credit Score
Hard pull: When you apply for a Plain Green personal loan, Plain Green will do a hard inquiry into your credit history, which will temporarily drop your credit score by about 5-10 points in most cases.
Increased debt level: Taking out a Plain Green personal loan will naturally increase the amount of debt that you have. Since your debt level is one of the components of your credit score, you can expect that to have a negative impact initially.
Account diversity: One positive way that getting a Plain Green personal loan can impact your score right away is by adding more diversity to the types of accounts you have open. Your "credit mix" is one of the components of your credit score, and the more types of accounts you have, the better - as long as you handle them responsibly.
Payments: The biggest factor in how a Plain Green personal loan affects your credit score is whether you pay on time. If you make on-time payments, your score should steadily increase as a result. If you pay late or fail to make payments altogether, you can expect your credit score to drop.
The bottom line is that while a Plain Green personal loan does affect your credit score, most of the way that your score changes depends on how responsible you are with the loan. If you'd like to estimate how certain actions might affect your credit score, you can use WalletHub's free credit score simulator.
No, Plain Green does not allow cosigners on personal loans, unlike some personal loan providers. A cosigner is a second person who serves as a guarantor on the loan, and thus promises to pay the loan back if the primary applicant cannot.
WalletHub Answers is a free service that helps consumers access financial information. Information on WalletHub Answers is provided “as is” and should not be considered financial, legal or investment advice. WalletHub is not a financial advisor, law firm, “lawyer referral service,” or a substitute for a financial advisor, attorney, or law firm. You may want to hire a professional before making any decision. WalletHub does not endorse any particular contributors and cannot guarantee the quality or reliability of any information posted. The helpfulness of a financial advisor's answer is not indicative of future advisor performance.
WalletHub members have a wealth of knowledge to share, and we encourage everyone to do so while respecting our content guidelines. This question was posted by WalletHub. Please keep in mind that editorial and user-generated content on this page is not reviewed or otherwise endorsed by any financial institution. In addition, it is not a financial institution’s responsibility to ensure all posts and questions are answered.
Ad Disclosure: Certain offers that appear on this site originate from paying advertisers, and this will be noted on an offer’s details page using the designation "Sponsored", where applicable. Advertising may impact how and where products appear on this site (including, for example, the order in which they appear). At WalletHub we try to present a wide array of offers, but our offers do not represent all financial services companies or products.