What kind of loan is Plain Green?

Plain Green uses Plain Green, LLC, to fund personal loans. The company offers loans of $500 - $5,000 with APRs of 210% - 428%, depending on an applicant’s creditworthiness, and gives borrowers 10 - 26 months to repay their loans. You can qualify for a personal loan with the Plain Green even if you have bad credit.

Key Things to Know About Plain Green Personal Loans

• Loan Amounts: $500 - $5,000
• APRs: 210% - 428%
• Repayment Periods: 10 - 26 months
• Credit Score Requirement: Bad credit

For more information, check out the full Plain Green review on WalletHub.

Yes, Plain Green 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.

Plain Green'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 Plain Green 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, NetCredit and Integra Credit.

Yes, you can pay off Plain Green loans early, which is a smart idea because it will save you money on interest. Plain Green does not charge a prepayment penalty, meaning that you will not be charged extra if you pay off the loan sooner than you’re required to.

Example of How Much You Can Save By Paying Off a Plain Green Personal Loan Early… read full answer

• Situation: A $3,000 loan with a repayment period of 24 months, an APR of 250% and no origination fee.
• Normal Payments: You will spend approximately $12,162 on interest.
• Early Pay Off: If you pay off the loan in 12 months, you will save about $6,799 on interest.

To estimate the cost of your Plain Green personal loan with different repayment schedules, check out WalletHub’s free personal loan calculator.