Here you’ll find the latest offers, deals, and promotions from OppLoans!
If you haven’t heard of OppLoans, they offer short-term installment loans with not credit check. OppLoans sells themselves as a fast and low-cost alternative to payday and title loans, but please note that even if they are considered to be cheaper than their competitors, OppLoans rates are still considered high.
Continue reading below to see if OppLoans is a good place for you take on one of their loans.
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Table of Contents
OppLoans $50 Referral Bonuses
You can earn a $50 gift card for every successful who gets a personal loan funded through OppLoans using your referral link.
To participate in this promotion, go to the OppLoans Refer-A-Friend page, see link below. Enter your first name, last name, and email address to share your personal code with people you know. When your referees receive their loan, you’ll get a gift card sent to your email. The more people referred, the more gift cards you’ll earn.
Please note that the Opps Loan Refer-A-Friend program is not available in California and Wisconsin.
(Visit OppLoans to learn more about its features)
Minimum Credit Score
|Terms||Up to 36 months|
|Funding Times||1-2 business days|
- No credit check required
- Easy online application
- Quick approval
- Fast funding
- Long repayment terms
- Payment flexibility
- High rates
- Direct deposit required
- Not available in all 50 states
In order to qualify for their personal loans, you have to meet the following requirements:
You have to live in one of the states that OppLoans serves. That includes:
You also must be:
- At least 18 years old (19 in Alabama and Nebraska).
- Not be listed as Covered Borrowers in the Military Lending Act database, including active duty service members and their dependents (sorry guys!).
- Have a regular source of income from your current employer for at least 3 months and receive your paychecks via direct deposit (not required for New Mexico borrowers).
- Have a traditional bank account in your name with 90 days of history.
Compared to its competitors, Opploans is a direct lender that offers large loans at low interest rates. The application process is easy, plus you’ll get longer repayment terms and pay fewer fees than other short-term solutions. Moreover, OppLoans reports to all three credit bureaus, so you’ll improve your score as you pay off your loan.
OppLoans personal loans can be used a number of ways. Like for a major purchases, home improvement projects, car repairs, weddings, child expenses, rent, medical procedures, debt consolidation, unexpected expenses and more.
OppLoans gets your information from Clarity Services instead of checking your financial profile with the credit bureaus. The bureau collects date on consumers who don’t have the best credit scores, OppLoans will also scan your bank transactions to get a sense of your cash flow.
If your application is approved before 7:30pm, EST, you could receive funding as early as the next business day.
When you compare the numbers with a traditional loan or credit card, OppLoans does not have the lowest interest rates on the market. But they definitely have competitive rates when you compare them to other short-terms lenders.
OppLoans reports to all three major credit bureaus: Equifax, Experian and TransUnion.* Make timely payments on your loan, and you could increase your credit score.
* OppLoans does not report payment history for Ohio and Texas borrowers.
You can also change your payment date, if you aren’t able to pay at the set time. This feature if your financial situation changes, so you don’t end up falling behind and hurting your credit score.
You might be eligible to refinance for a larger loan, or to extend the loan term, if you make on-time payments for several months.
|0%-3% of loan amount (deducted before funding)|
|Late Fee||5% of unpaid amount, up to $10
($15 for California borrowers)
|Returned Check Fee||$15 for California borrowers
$30 for Texas borrowers
(California borrowers only)
|Credit Service Organization Fees
(Ohio borrowers only)
|8% – 15% of loan amount
+ 15% interest on the loan principal
OppLoans Application Process
To apply, you’ll need to create a user profile that includes basic information like your age, bank account, employment history and annual income.
Once you submit your information, OppLoans will use a proprietary approval algorithm to review your application.
After pre-approval you’ll get a customized loan offer that outlines your interest rate, payment amount, number of payments and total cost of the loan. Once you’re satisfied with the loan terms, you can choose to accept the offer.
Then, OppLoans will verify the details of your application. If everything checks out, you’ll need to sign the contact through the customer self-service portal. During this time, a payment schedule will be provided.
If you have any questions, you can contact Loan Advocates via the OppLoans Call Center.
OppLoans Funding & Payments
Your loan will be deposit directly to your bank account or, if you prefer, mailed to you by check.
You may be offered a line of credit, in some states. So you can make the withdrawals once your funds become available. You’ll have a minimum required monthly payments and you can make additional withdrawals as long as the total amount stays below your credit limit.
It’s good to know that payments can be made through payroll deductions or by automatic payments from your bank account on the same day each month.
OppLoans Tip: Explore Your Other Options First
OppLoans gives you an affordable, safer option to predatory loans for borrowers with less-than-ideal credit, but it’s still pretty expensive.
If your goal is to raise your credit score, there are better ways to do it. Check out secured credit cards, like Capital One® Secured Mastercard® and credit-builder loans.
If you need to get your hands on some quick cash, consider the following alternatives:
- Ask your family or friends for a loan.
- Get assistance from a local nonprofit, charity, government or religious organization.
- Approach a credit union for a payday alternative.
- Request a paycheck advance from your employer.
- Sell your unwanted belongings to a consignment store or pawn shop.
OppsLoans is a good option since they have low APRs, long payback terms, an easy online application and fast funding! Please note that this is is not available in all 50 states and you will need to have direct deposit! But if you’re looking for other personal loans, you can check out the best online personal loan lenders and other personal loan lenders for more options!