What is an APR?
APR stands for Annual Percentage Rate and it is your true cost of credit stated on an annual basis. It includes a loan’s interest rate and origination fees plus it takes into account factors such as repayment amounts and frequency. However, rest assured, OppLoans and its lending partners do not…
Can my personal information get deleted?
We are required by federal law to retain all information associated with your application for at least 25 months. For further information, you can view our and our lending partners’ privacy policies here. If you are a California resident, please click here to view disclosures specific to you.
What do I do if I am a victim of identity theft or fraud?
If you have been the victim of identity theft, then please review the recommended next steps detailed in this guide. Required Steps: File a Police Report – Complete a report about the suspected fraud at your local police department and keep a copy for your records. Please ensure that the police…
Who are your lending partners?
OppLoans provides access to credit products to consumers throughout the United States through partnerships with its lending partners: FinWise Bank is an FDIC-insured, state-chartered financial technology bank located in Sandy, Utah. First Electronic Bank is an FDIC-insured, state-chartered industrial bank headquartered in Salt Lake City, Utah. Capital Community Bank (CC Bank)…
What types of credit products does OppLoans offer?
OppLoans offers installment loans, which are unsecured, closed-ended loan that is repaid according to a set term and schedule where each payment is an equal portion of the total amount borrowed and accrued interest. For more information, please see our Rates and Terms.
Is OppLoans a scam?
No! OppLoans is not a scam. OppLoans is one of the highest-rated companies in the non-prime consumer lending space. OppLoans has an A+ rating from the Better Business Bureau and highly rated on Google and LendingTree for our unmatched customer service. OppLoans has been named on Inc. 500’s list of…
I received a mailer saying I was “pre-approved.” Does this mean I am approved?
No. A “pre-approval” is still subject to our verification of your identity and credit information. As stated in our mailer, we will not extend credit if you do not meet our pre-established criteria, meaning: (i) you are a U.S. citizen or permanent resident; (ii) are 18 years old (19 in…
I’m a previous OppLoans customer, but I have moved to a different state. Can I still apply?
If you were previously a customer of OppLoans and your account is in good standing, you may be able to submit an application if you moved to a state we offer products in. For more information about the product options and lender(s) in your state, please visit our Rates and…
What are the interest rates and fees associated if I receive a credit product through OppLoans?
The rates and terms for the products offered through OppLoans are specific to your state of residence. Please visit our Rates and Terms page to see rules specific to your state.
Is this an OppLoans loan or a loan from your lending partners?
Our lending partners originate loans in certain states (please see our Rates and Terms page for more details). However, OppLoans has contracted with our lending partners to service the loan products of our lending partners originate through our website. Therefore, OppLoans will be your single point of contact for all…
What is the relationship between OppLoans and your lending partners?
Our lending partners are state-chartered banks that use the OppLoans platform to originate credit products for consumers. For lending partner products originated through the OppLoans platform, OppLoans services the credit products.
Who do I work with if I am approved?
As the servicer of these credit products, you will work with OppLoans directly.
How can I get a personal loan online?
In the pre-digital age, a personal loan was obtained from a bank. In order to get a loan, you had to make an appointment, drive down to your local branch and have a long face-to-face meeting with a personal banker. Then you had to wait while the bank evaluated your…
What is an installment loan?
There are many different kinds of personal loans. From the credit card in your wallet to the mortgage on your house to the money you borrowed from a family member, the sheer number of financial products out there can be overwhelming. An installment loan is probably the most common type…
What is a payday loan?
It’s near the end of the month and you get a call from your kid’s school. He threw up during math class. You take him to the doctor and they tell you that he has a mild flu, nothing major. You breathe a sigh of relief. You don’t have the…
What is a personal loan?
A personal loan is a loan made to an individual rather than a business. They are usually sought in order to consolidate debt or to cover emergency expenses. The two main types of personal loans are “secured” loans and “unsecured” loans. Secured Loan: A secured loan is one where property…