Yes, OneMain Financial has high interest rates, charging 18% - 35.99%, depending on your overall creditworthiness. The best personal loans from other lenders have interest rates as low as 3%, and the average personal loan interest rate is around 14.5%.
OneMain Financial has no minimum credit score requirement for applicants. For the best odds of being approved for a personal loan from OneMain Financial, however, you should have a credit score of 600 - 650 or higher.
Keep in mind that just having a 600 - 650 credit score is not enough to qualify you for a OneMain Financial personal loan. OneMain Financial will consider your entire financial profile, including things like your income, existing debts and recent credit inquiries, when deciding whether to approve you. It's also worth noting that some applicants might be able to get a personal loan from OneMain Financial with a slightly lower score if it's offset by other factors like an especially high income. But it's best to wait to apply until your score meets the threshold.… read full answer
If you're unsure of what your current credit score is, you can check it for free on WalletHub. You can also pre-qualify for a OneMain Financial personal loan online to gauge your chances of getting approved with your current credit score.
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