OppLoans is a fintech online loan platform specializing in short-term installment loans for people with bad or no credit history. OppLoans has a $0 origination fee, but this does not compensate for the high APR of 160% - 195%. Here is an overview of OppLoans’ strengths and weaknesses:
Pros:
No fees
Applying does not affect your FICO ® credit score
Short funding time: If approved, you may receive funds in your account as soon as the same business day!
Cons:
Extremely high APRs: 160% - 195%
Small loan amounts: $500 - $5,000
Short loan terms: 9 - 18 months
You can learn more from WalletHub’s full editor’s review of OppLoans as well as the OppLoans reviews from users below.... show more
Compare Personal Loan Rates from WalletHub Partners
Excellent Credit
Excellent Credit
Good Credit
Fair Credit
Bad Credit
No Credit/Limited History
$500
$500
$1,000
$3,000
$5,000
$10,000
$25,000
OppFi Reviews
The WalletHub rating is comprised of reviews from both WalletHub users and ratings on other reputable websites. The rating was last updated on 05/16/2025.
OppLoans personal loans are extremely expensive. While most personal loans won’t charge an APR above 36%, OppLoans has rates that start at 160% and go up to 195%. OppLoans has a 0% origination fee, but this does little to offset the APR.
OppLoans presents itself as an alternative to payday loans. And if you’re just comparing the two, OppLoans is a much better choice. The company lends out $500 - $5,000 for 9 - 18 months, instead of two weeks to a month, as is common with payday loans. Plus, OppLoans doesn’t do a hard credit check when you apply, so it’s relatively easy to get approved.
Nevertheless, personal loans from OppLoans are still far too expensive to recommend. Even people with poor credit should be able to get approved for much cheaper alternatives from other lenders. It’s also useful to note that OppLoans offers loans in 39 states, some of those through their partner FinWise Bank.
OppLoans Review Highlights:
OppLoans rates: 160% - 195%
Origination fee: 0%
Late fee: $0
Funding time: As soon as the same business day
Loan sizes: $500 - $5,000
Payoff periods: 9 - 18 months
Pre-qualification: Available
Co-applicant policy: OppLoans does not allow co-signers or offer joint applications.
Reputation: OppLoans has an A+ rating from the Better Business Bureau and an average user score of 4.9/5 on WalletHub.
OppLoans requirements: 18+ years old; U.S. citizen or permanent resident with SSN.
A personal loan from OppLoans is better than a payday loan if you’re desperate, but it’s still one of the most expensive personal loan offers on the market. Here’s how WalletHub rates these loans in our three major categories: Terms, Requirements & Application, and Reviews & Transparency.
OppLoans Ratings by Category:
Category
Editor’s Rating
Terms
1.2/5
Requirements & Application
3.8/5
Reviews & Transparency
5/5
Overall Score
10/15
These scores reflect how close a loan offer is to WalletHub’s definition of a 5-star loan. For more information, please read WalletHub’s full methodology.
Product: OppFi Personal Loans
Comment
0
0
OppFi
Kathleen waldrop @kathleenowler517
Report Abuse
5 Star Rating
Verified Customer
They are great always willing to help and customer service is five star. I’ve had two loans with them and if I ever needed to do any updates they always help .
show more
show less
Product: OppFi Personal Loans
Comment
0
0
OppFi
Robert Burgun @rjbnightexq
Report Abuse
1 Star Rating
DONT GET THIS CARD THEY RIP YOU OFF,YOU MUST PAY 3 DAYS BEFORE TIME OR YOU GET A LATE CHARGE !!!i HAD THIS CARD AND IT WAS THE WORST CARD I EVER HAD !!!
show more
show less
Product: OppFi Credit Cards
Comment
0
0
OppFi
Sharon @sharoncarter677
Report Abuse
5 Star Rating
Verified Customer
They are definitely there to help people and I'm thankful that I was able to get what I needed from them and any situation they are great company I will definitely deal with them again
show more
show less
Product: OppFi Personal Loans
Comment
0
0
OppFi
Paul @pfmanis
Report Abuse
5 Star Rating
Verified Customer
They have been good to me for the life of the loan. Interest is a little high but they have helped me when I needed it. They were willing to loan to me when others wouldn't.
show more
show less
Product: OppFi Personal Loans
Comment
0
0
OppFi
Tanya @ferreira_tanya
Report Abuse
5 Star Rating
Verified Customer
High interest but they always resolved is very good for a emergency propuse they always there for you the service is great the agent are awesome. You dont have to wait
show more
show less
Product: OppFi Personal Loans
Comment
0
0
OppFi
Shawn @shawnmapes11
Report Abuse
5 Star Rating
Verified Customer
Needed a loan to pay off some debt and add to my credit mix. Perfect and easy to obtain. Increased my credit score and ALL of the charges and fees were straight forward.
show more
show less
Product: OppFi Personal Loans
Comment
0
0
OppFi
Matt @treesvideoproductions
Report Abuse
4 Star Rating
Verified Customer
Not a bad place at all for what it is. The customer service is fantastic and they are always willing to work with you if there is an issue
show more
show less
Product: OppFi Personal Loans
Comment
0
0
OppFi
Deborah @deborahhodges
Report Abuse
5 Star Rating
Verified Customer
This company has granted a loan and refinanced during a very difficult time for me. I recommend them to anyone looking for financial help.
show more
show less
Product: OppFi Personal Loans
Comment
0
0
OppFi
Ken @ken6850
Report Abuse
4 Star Rating
Verified Customer
The credit card is absolutely fine there is an annual fee but there is for most cards there is no monthly maintenance fee that is critical they did give me $1,000 credit limit so I've been very happy so far
show more
show less
Product: OppFi Credit Cards
Comment
0
0
OppFi
Cheri @cherihartwill
Report Abuse
4 Star Rating
Verified Customer
Interest rate is high but they help you without perfect credit. They also let you refinance after a few on time payments. I recommend them to someone in the same boat as me.
show more
show less
Product: OppFi Personal Loans
Comment
0
0
OppFi
Marcia @mthomas161
Report Abuse
5 Star Rating
Verified Customer
Easy process online and immediate response and deposit. I would recommend this low interest personal loan to my friends and family.
show more
show less
Product: OppFi Personal Loans
Comment
0
0
OppFi
Robert @maddogfritz
Report Abuse
2 Star Rating
Verified Customer
Balance incorrect under $1000 High usurious rates. Lately the same as everyone else. Even though paid numerous times running scared and denying loabs
show more
show less
Product: OppFi Personal Loans
Comment
0
0
OppFi
Antonia @antoniam_2
Report Abuse
4 Star Rating
Verified Customer
The only thing I didn't like is the interest rate is too high. I paid it in full. My loan was approved very quickly, so I was happy with that.
show more
show less
Product: OppFi Personal Loans
Comment
0
0
OppFi
Lynette @ldfleming21
Report Abuse
5 Star Rating
Verified Customer
They are a great company for your chances of getting approved but their interest rates is extremely too high. The payments are overbearing and a lot to keep up!
Get answers to your questions about OppFi below. Editorial and user-generated content is not provided, reviewed or endorsed by any company. Please keep in mind that it is not a financial institution’s responsibility to ensure all posts and questions are answered. In addition, WalletHub independently collected information for some of the cards on this page. Ad Disclosure
Yes, OppLoans by OppFi is a legit lender that offers personal loans for people with bad credit or better in 37 states. OppLoans by OppFi received an A- rating from the Better Business Bureau and has been BBB-accredited since 2016.
Still, you should note that OppLoans by OppFi personal loans are very expensive, charging an APR of 160% - 195%.
OppLoans requirements include being at least 18 years old, having enough income or assets to make the monthly payments and owning a verifiable bank account. You don't need a certain credit score to qualify for OppLoans personal loans.
You can see OppLoans major requirements listed below. Just remember, while meeting all the requirements gives you a good chance of approval, it's never guaranteed.
Yes, OppLoans can be trusted because it is a legitimate lender that has an A- rating from the Better Business Bureau and has been accredited since 2016. OppLoans also has an average rating of 4.9/5 among users on WalletHub.
Why OppLoans Can Be Trusted
OppLoans has a A+ rating from the Better Business Bureau.
OppLoans has been BBB-accredited since 2016.
OppLoans has an average user rating of 4.9/5 on WalletHub.
OppLoans tries to review applications within 24 hours, but it could take 3+ days if they need to manually review any of your information. If your application is approved, it will take a few more business days to receive your funds.
To log in to your OppFi® Card account, open your OppFi mobile app and enter your username and password in the appropriate fields. Then, click login button to access your online account.
How to Log In to a OppFi Card Account
Go to the OppFi Card login page.
Fill out the username and password fields with your credentials.
You cannot check for OppFi Card pre-approval. OppFi does not offer pre-approval through its website, so anyone interested in applying for the OppFi Card will have to do so without the benefit of checking for pre-approval beforehand. However, if you received an invitation offer for the OppFi Card, you can enter your offer code on the website.
You can, however, use WalletHub's CardAdvisor tool instead and learn how easy it is to find the right credit card...
Your OppLoans approval odds are good if you are at least 18 years old and have enough income to make monthly loan payments. OppLoans personal loans do not have a credit score requirement since OppLoans does not perform a hard inquiry into your credit history when you apply.
Yes, you can pay off an OppLoans loan early, which is a smart idea because it will save you money on interest. OppLoans does not charge a prepayment penalty, which means 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 OppLoans Personal Loan Early
Situation: A $2,500 loan with a repayment period...
No, OppLoans does not call your employer. OppLoans instead uses the financial information and documents you provide during the application process, like a W-2 form, bank statement or pay stub, to verify that you are employed and that you have enough income to afford the loan.
No, OppLoans does not approve everyone, even though there's no minimum credit score requirement. To qualify for an OppLoans personal loan, you need to be at least 18 years old, own a valid bank account and have enough income to make the monthly payments, among other requirements. Even if you meet all the requirements, you still may not get approved.
Ad Disclosure: Certain offers,
companies or professionals (collectively “listings”) that appear on this site, originate from paying advertisers.
For full transparency, here is a list of our current advertisers.
Advertising impacts how and where listings appear on this site (including, for
example, the order in which they appear and their prevalence). At WalletHub we try to present a wide array
of offers, companies and professionals, but our listings do not represent all financial services companies
or products.
Advertising enables WalletHub to provide you proprietary tools, services, and content at no charge. Advertising does
not impact WalletHub's editorial content including our best picks, reviews, ratings and opinions. Those are completely
independent and not provided, commissioned, or endorsed by any issuer, as our editors follow a strict
editorial policy.
WalletHub is not a financial advisor. Our goal is to provide you with top-notch
content, data, and tools. You are responsible for deciding what financial products and providers are best
for your needs.
We work hard to show you up-to-date product terms, however, this information does
not originate from us and thus, we do not guarantee its accuracy.
Actual terms may vary. Before submitting an application, always verify all terms and conditions with the offering
institution. Please let us
know if you notice any differences.
* The information about the following cards has been independently collected
by WalletHub: OppFi® Card.
