Does OppLoans do a hard inquiry? This question is about OppFi

Does OppLoans do a hard inquiry?

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This question is about OppFi

Rick Bormin, Personal Loans Moderator

@rhandoo2020 • 11/10/21 This answer was first published on 11/10/21. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

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OppLoans does not do a hard inquiry into your credit history when you apply for a loan. Even though there's no credit check, that does not guarantee approval, as OppLoans considers factors such as income, debt load, age, residency and more.

OppLoans typically caters to people with bad or no credit. However, loans from OppLoans are usually much more expensive than those from lenders that do hard inquires.

To see your approval odds and what rates may apply to you, check out the free pre-qualification tool on WalletHub.

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How can you get OppLoans personal loan pre-qualification?

You can get OppLoans personal loan pre-qualification through WalletHub’s free personal loan pre-qualification tool. This will allow you to see your odds of approval for a personal loan with OppLoans, as well as your potential interest rates, and the process will have no impact on your credit score.

How to Get OppLoans Personal Loan Pre-qualification

Go to WalletHub’s free personal loan pre-qualification tool.
Enter your desired loan amount and select the reason for...

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Does OppLoans affect credit score?

Applying with OppLoans does not affect your credit score. OppLoans will not do a hard credit check when you apply for a personal loan, as the company only performs a soft pull on your credit, which has no credit score impact.

Things change once you get a personal loan from OppLoans, however. Whether or not you pay the bills on time will have a huge impact on whether your credit score benefits...

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What credit score do you need for an OppLoans personal loan?

You do not need a specific credit score to get a personal loan from OppLoans, as OppLoans does not check applicants' credit when they apply. This means it is relatively easy to get approved for an OppLoans personal loan, even for people who have bad credit. Still, approval is not guaranteed, as OppLoans will consider other things like your income and existing debts when deciding whether to approve you.

Keep in mind that while...

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