Yes, OneMain Financial may call your employer after you provide their contact information and give permission for the call during the application process. OneMain Financial will not disclose any information when they contact your employer, since they are just inquiring about your employment status.
Yes, OneMain Financial 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.
OneMain Financial'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 OneMain Financial 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 Opploans, Integra Credit and NetCredit.
It is not very difficult to get a personal loan from OneMain Financial because they offer personal loans for people with credit scores as low as 600-650+. Other OneMain Financial personal loan requirements include being at least 18 years old, having an SSN, and having enough income to afford monthly loan payments.… read full answer
OneMain Financial Personal Loan Requirements
Minimum Credit Score: 600-650+
Age: 18+ years old
Residency: U.S. citizen, permanent resident, or visa holder
Identification Type: SSN or passport
Once you make sure you've met all the requirements for a OneMain Financial personal loan, you should have a good chance of approval. However, the exact interest rate you receive will depend on factors such as your credit score, income, and debt.
You can use WalletHub's free pre-qualification tool to see if you're likely to get approved and what rates you could get. Plus, it won't hurt your credit.
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