Plain Green Loans Review

Adam McCann, Financial WriterJul 23, 2021

This review is not provided, commissioned or endorsed by any company. Opinions and ratings are our own.

EDITOR’S RATING

1.8 / 5

PROS

Low min. income requirement: $1,000/month
No origination fees
No prepayment fees
Funding within 2 business days

CONS

Extremely expensive APRs
Small loan amounts: $500 - $3,000
Only available in 26 states
Minimum credit score not disclosed
$30 returned payment fee
Subpar reputation

Plain Green Loan Review Summary

Plain Green loans are extremely expensive short-term loans offered by the Chippewa Cree Tribe, a sovereign nation within the U.S. Their interest rates range from 210% to 428%, and the loans must be paid back within 10 to 26 months. Although they don’t charge fees aside from a returned payment fee, they remain very costly.

The only real draw of Plain Green loans is a swift payout, as they provide funding within two business days. However, there are plenty of other online lenders that offer the same quick approval and funding without the sky-high interest rates. Plus, Plain Green only services 26 states. Some states they don’t do business in include New York, Illinois, Maryland, New Jersey, Ohio and Pennsylvania.

Below, you can see how WalletHub rates Plain Green personal loans in three major categories: Terms, Requirements & Application, and Reviews & Transparency.

2021's Personal Loan Offers

Compare Loans

Plain Green Personal Loan Terms


APRs	210% - 428%
Loan Amount	$500 - $5,000
Loan Terms	10 - 26 months
Origination Fee	None
Prepayment Fee	None
Late Fee	None
Minimum Credit Score	Not disclosed^*
Minimum Income	$1,000 / month
Loan Purpose	Other
Time to Receive Loan Money	1 - 2 business days
Other Requirements	SSN Checking account 18+ years old U.S. citizen or permanent resident Live in a state PG services

According to multiple third-party sources

Plain Green Loans Interest Rates & Fees

Category Rating: 1.3/5

Overall APR range: Plain Green personal loans have interest rates of 210% - 428%. Plain Green loans are incredibly expensive because they are designed to be “emergency” loans for people who have no other options.
How rates are determined: The exact rate you will get depends on your credit score, income, and existing debts, among other factors.
Fees: Plain Green does not have any origination or early repayment fees. They may charge fees for late and returned payments, which will be disclosed in the loan agreement.
Loan amounts & timelines: Plain Green loans range from $500 to $5,000 overall. However, the maximum loan amount for first-time customers is only $1,000. Repayment terms of 10 to 26 months are available.

Plain Green Loan Requirements & Application Info

Category Rating: 2.5/5

Minimum credit score: Not disclosed, but Plain Green says they cater to “subprime” customers, meaning people with damaged credit.
Minimum income: Plain Green’s minimum income requirement is $1,000 per month.
Age: You must be at least 18 years old (19 years old in Alabama, Nevada, and Virginia).
Citizenship: You must be a U.S citizen or permanent resident.
State: You must live in one of the 24 states where Plain Green does business.
Identification: You must have a Social Security number.
Checking account: You must have an active and valid checking account.
Pre-qualification: Plain Green does not offer a true pre-qualification process. However, it does have an online calculator that can estimate your loan’s potential interest rate, payment size, and number of payments based on your desired loan amount and how often you get paid.
Ways to apply: If you decide to apply for a Plain Green loan, you can submit an online application.
Application timeline: You should receive a decision within one business day. If you are approved, funding will take one additional business day.

Plain Green Loans Reviews & Transparency

Category Rating: 2.7/5

Plain Green does not have the greatest reputation. It has a subpar Better Business Bureau rating and has undergone legal battles over whether its interest rates violate state usury laws.

Better Business Bureau: Plain Green is not BBB accredited and only receives a B rating.

Consumer Financial Protection Bureau: The CFPB does not have Plain Green listed as a company in their database, but it does have 7 complaints registered that mention “Plain Green.” Most have to do with high interest rates or debt collection practices.

WalletHub: There is not enough data to assign a user score to Plain Green.

Transparency: Plain Green is transparent about their high interest rates, and even says on their website that they are an “expensive” lending option. However, they do not disclose information about fees or certain requirements like having an SSN on their website. Representatives provided information about these details over the phone when asked, though.

Overall, Plain Green’s score suffers in this category because of their subpar reputation and mediocre transparency.

Summary: Plain Green Loans Score by Review Category

Category	Score
Rates, Fees & Other Terms	1.3/5
Requirements & Application Info	2.5/5
Reviews & Transparency	2.7/5
OVERALL	6.5/15

Plain Green Loans vs. Popular Competitors


Reviews	*****	*****	*****
APRs	210% - 428%	9.95% - 35.99%	7.99% - 29.99%
Loan Amounts	$500 - $5,000	$2,000 - $35,000	$7,500 - $50,000
Loan Terms	10 - 26 months	24 - 60 months	24 - 60 months
Minimum Credit Score	Not disclosed^*	Bad^*	Fair^*
Winner	FreedomPlus

According to multiple third-party sources

Methodology

In order to provide the most accurate review of Plain Green personal loans, WalletHub used 17 key metrics grouped into three overall sections: Terms, Requirements & Application, and Reviews & Transparency. We rated each section on a scale of 0 to 5, with 5 being the best, and then averaged the scores of the three sections to produce an overall rating for the loan.

The “Terms” section includes information about how expensive the loan is, including rates and fees. It also takes into consideration how much consumers can borrow and how quickly they must pay it back.For companies where APR and fee ranges differ greatly by state, we used data from the most populous state serviced by the company. Plain Green personal loan terms do not fluctuate significantly by state, however.
The “Requirements & Application” section examines how easy it is to apply for a loan and how long it takes to receive the money. It also looks at exactly who is eligible to apply.
The “Reviews & Transparency” section measures the loan provider’s reputation as well as how clearly the lender discloses its terms and requirements. This takes into account user reviews and information from watchdog organizations.

The average of these three scores reflects how close a loan offer is to WalletHub’s definition of a 5-star loan. For more information, please read WalletHub’s full methodology.

Plain Green Loans Review FAQ (7 questions)

What banks are compatible with Plain Green loans?

Upvotes

Lisa Cahill

Most banks are compatible with Plain Green loans, both for depositing the loan money and for making payments on the loan. Plain Green does not work with certain online banks, such as Chime and MetaBank, though. If you have questions about whether Plain Green will work with your bank, you can call customer service at (866) 420-7157.

Are Plain Green personal loans legit?

Upvotes

Rick Bormin

Yes, Plain Green personal loans are legit because Plain Green is registered to do business in the states it services, which is a legal requirement to be a legitimate lender. Another reason why Plain Green personal loans are legit is that the lender has a Better Business Bureau rating of B.

Still, you should note that Plain Green personal loans aren't “legit” if you use that word as a synonym for “good.” Plain Green personal loans are very expensive, charging an APR of 210% - 428%.

Does a Plain Green personal loan affect your credit score?

Upvotes

Rick Bormin

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.

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.

Does Plain Green do joint personal loans?

Upvotes

Rick Bormin

No, Plain Green does not offer joint personal loans, unlike some personal loan providers. A joint application allows two people to put their names on the loan and apply together, as well as share responsibility for paying back the loan.

Though Plain Green does not do joint personal loans, there are quite a few lenders out there that do. You can check out WalletHub's picks for the best personal loans that allow joint applications or cosigners to find some good offers. You can also use WalletHub's free personal loan pre-qualification tool to see which loans you might be able to qualify for individually.

Does Plain Green allow cosigners on personal loans?

Upvotes

Rick Bormin

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.

Although Plain Green does not accept cosigners on personal loans, there are quite a few lenders out there that do. You can check out WalletHub's picks for the best personal loans that allow cosigners to find some good offers.

You can also use WalletHub's free personal loan pre-qualification tool to see which loans you might be able to qualify for even without a cosigner.

How long does it take to get money from a Plain Green personal loan?

Upvotes

Rick Bormin

It takes 1 to 2 business days to get money from a Plain Green personal loan, in most cases. That includes both the time it takes to get approved and the time it takes for the funds to be delivered after approval. Keep in mind that this is a typical applicant's experience, and in some cases it could take longer.

How to Get Money From Plain Green as Fast as Possible

Fill out the application carefully. You should make sure that all information you enter on the application is correct and complete. That will eliminate any potential delays from Plain Green having to request additional information.
Check your credit report for errors. Before you apply, you should verify that everything on your credit report is accurate, as any incorrect negatives on there could impact your chances of approval. If you find any errors, you should dispute them right away to get them removed.
Get an electronic funds transfer. Plain Green offers loan payouts through an electronic funds transfer to your bank account or by paper check. The transfer is the faster option.

View more answers

What credit score do you need for a Plain Green personal loan?

Upvotes

Rick Bormin

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.

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.

If you're unsure of what your current credit score is, you can check it for free on WalletHub.

Was this article helpful?

Disclaimer: Editorial and user-generated content is not provided or commissioned by financial institutions. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are WalletHub advertising partners. Our content is intended for informational purposes only, and we encourage everyone to respect our content guidelines. Please keep in mind that it is not a financial institution’s responsibility to ensure all posts and questions are answered.

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.