opploans review
Updated March 23, 2024

OppLoans Review 2024: A Soft-Pull Loan Option for Poor-Credit Borrowers

Personal Loans
  • opploans
    • Best For: People looking for quick, no-fuss loan options.
    • Pros: You won’t have to jump through many hoops to get this loan. The online process is simple to comprehend and quick to complete. Anyone is capable of landing a loan through this lender, even those with bad credit.
    • Cons: The biggest con is the APR. It’s astronomical in some cases. The repayment term is short, and you can’t get a very big loan.
    APR (Details) 2/10
    Fees (Details) 4/10
    Transparency (Details) 5/10
    Flexibility (Details) 7/10
    Funding Speed (Details) 10/10
    Accessibility (Details) 8/10
    • APR

      59% - 160%


      Apply with any credit score.

    • TERMS

      9 to 18 months


      Depends upon the state

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You’re hesitant to take out a payday loan because it’s a notoriously bad financial choice that can lead to a circle of never-ending debt. You just need some help to clear the latest hurdle in your financial life — you don’t want to put your future in jeopardy.

But your credit is so bad you don’t have many other choices. You feel your back is up against the wall.

Before turning to your worst-case alternative, you may want to check out OppLoans. This OppLoans review will help you determine if OppLoans might be worthy of your consideration.

OppLoans Overview

What Is OppLoans?

OppLoans is a direct lender that can give you a more favorable APR than a payday lender will. That doesn’t mean that its rates are good — just that it can be better than payday loans, which honestly isn’t hard to do. But OppLoans will still have higher APRs than some other lenders would give you.

Even though its rates aren’t ideal, they may be one of the few lenders out there willing to give you a loan if your credit is truly terrible.

OppLoans Highlights

More than 300,000 borrowers have turned to OppLoans when they needed money. If you’re considering this company, think about how much money you’ll need to borrow.

If your needs are on the small side, up to $4,000, OppLoans can help you out.

But if you need more money than that, you’ll need to look elsewhere. OppLoans is for those who are looking for smaller loans.

OppLoans Details

You’ll need the full details at your disposal in order to make an informed decision. Let’s put this company under the microscope and see how it holds up.


When people truly need money, they’ll usually pay whatever APRs they have to in order to get what they need for the obstacle they’re facing in their life. Those lenders bank on that — they know if you’re desperate, you’ll feel you have no choice but to pay high APRs.

OppLoans charges APRs that range from 59 – 160%. That’s a terribly high rate to pay unless you absolutely feel you must.

If you’re hurting for money, you might want to try to go with another company first — one that offers a more favorable APR.

But if your credit is so poor, you think you won’t qualify, OppLoans is still better than a payday lender. With payday lenders, you might face an APR that’s two or even three times as much as you might pay with OppLoans.


It’s completely unclear as to what type of fees you’ll have to pay or how much they might amount to if you go through OppLoans.

You may have to pay origination or late payment fees, depending upon which state you live in. You won’t know until you receive a proposed contract. You’ll be flying blind until then.


You’ll have to unleash your inner Sherlock Holmes and do some investigative work if you hope to find the information you’ll need on this site.

It’s hard to find a lot of the information — you won’t get a broad list of fees and APRs that might apply to your personal loan. You’ll have to look at your particular state to get some sense of what you might be in for.

If OppLoans were a lending platform that worked with many different lenders, it’s lack of accessible information would be easier to fathom. But since it’s a direct lender, it should do a better job of highlighting its terms and information for its borrowers.


If you want to contact OppLoans, they make it easy for you to do so. They list their contact information on their website.

You can call them on the phone seven days a week, email them, or write to them. Applying does not affect your FICO credit score. 

What help you might get from them if you’re unable to make a payment on your loan isn’t as well defined by OppLoans though. If you can’t make a payment, they advise you to call them.

While they don’t specifically say if they offer forbearances, some of the recent reviews on the Better Business Bureau site mention the company was willing to work with their borrowers when they couldn’t make payments.

Funding Speed

If you’ve applied somewhere between Monday and Thursday during any given week, you should receive money the next day. If you’ve applied on a Friday, you should receive it on Monday, which would be the next business day.

It’s a speedy process, which can be a great relief for those who are in serious need of quick cash.


While it’s true that anyone with a poor credit rating can qualify for a small loan through OppLoans, it’s accessibility isn’t perfect. That’s because it isn’t available for residents of every state.

To be eligible, you must:

  • Live in any U.S. state EXCEPT: IL, PA, CO, CT, MD, MA, ME, NH, NM, WV, IA, VT, NY, NJ, SD, DC, and HI.
  • Be 18 years old or older. In Nebraska and Alabama, you must be at least 19.
  • Have a steady source of income. You need an employment history of a minimum of three months with your current employer.
  • Use a direct deposit at work.
  • Have a bank account for a minimum of 90 days.
  • Not be a currently covered borrower according to the Military Lending Act.

OppLoans may give you a personal loan when you most need it, even if you’ve been denied elsewhere. Just beware that you’ll likely pay triple-digit APRs.

2.5/5 Rating
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How to Apply at OppLoans

Getting a loan doesn’t have to be difficult. Here’s how you’ll go about snagging a loan with OppLoans.

Step 1: Look Up Your State on OppLoans

OppLoans isn’t a country-wide option. You have to live in one of the states they service.

Double-check that they offer a loan to your state so you aren’t wasting your time filling out a form for a loan you won’t qualify for.

Step 2: Fill Out Information Online and Create an Account

You’ll be asked to fill out the same basic material you would on any other lending site, including your name, address, location, birth date, Social Security number, and a phone number.

Even if you aren’t sure you’ll go ahead with a loan if you’re offered one, you’ll still have to create an account. Be sure to write the password somewhere so you aren’t banging your head against a wall later trying to remember it.

Step 3: Watch Your Email

If OppLoans decides to grant you a loan, you’ll be sent an email stating that. So, you’ll want to keep an eye on your email account so you don’t miss the notification.

Once you receive it, you’ll have to agree to the loan if you want to go ahead with it.

Step 4: Keep an Eye on Your Bank Account

You should see a boost in your bank account balance on the first business day after you agree to the terms of the OppLoans contract.

OppLoans Consumer Reviews

You don’t have a crystal ball to see what your experience might be like if you proceed with an OppLoans loan. The closest thing you have to that is seeing what others thought about their experience with the company.

Better Business Bureau

The rating and reviews OppLoans gets on Better Business Bureau’s website are outstanding. That should lead to a greater level of confidence when it comes to doing business with them.

The BBB rating for this company is an A+. And it gets nearly five out of five stars, based on a whopping 1,172 customer reviews, some of which are recent.

Melba S., one customer who has had three loans with OppLoans, had this to say: “I have been dealing with them for a few years and every time they greet me with excellent customer care. The loan is approved within 30 minutes and the money is in my account the next business day.”

In light of the recent COVID-19 virus circulating around the world, OppLoans seems to be helping its customers who can’t make payments. Quinn K. left a review on March 19, 2020, that discusses how the company assisted her.

“They helped me through the rough time of the COVID-19 outbreak. I got let go from my job and they were very understanding and were able to come up with a resolution for paying back my current loan.”

One dissatisfied would-be customer was Ally, who left this review: “Spoke with someone on the phone and also read eligibility info online. I was told I would easily qualify because I met every single requirement, however I was instantly denied.”

User Reviews

If you want to check out user reviews from a different site, OppLoans also has 83 reviews on Trustpilot. It scores an average of approximately 4.5 stars out of 5, which is considered an excellent rating.

Thomas Ilconich left a recent review, saying, “Great service and help. Fast approval and fast deposit.”

Edwards left this review: “OppLoans worked with me when no one wanted to work with me. The interest rate was crazy high but this is a emergency so to just be able to be approved was a blessing.”

Jodie Schaalman left one of the few negative reviews, saying: “In the beginning everything was fine but suddenly for no reason I was deemed as a bad customer I guess even though I had never made a late payment. I was refinanced several times with no problem paying an interest rate of nearly 200% APR and had a loan for almost 2 years. I was denied a refinance when I needed it the most.”

The few negative reviews were primarily about the fees and being denied for a loan.

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59 - 160%
Maximum Loan
Up to $5,000, depending upon which state you reside in.
Minimum Credit
They take all types of credit scores.

OppLoans Pros and Cons

Want to know what the best things about doing business with OppLoans are? Want to know the worst aspects of getting a loan from them? We’ll give you the scoop.

OppLoans Pros

  • Fast: When you need money quickly, they can get it to you within a day.
  • Not as selective: If you’re been denied by other lenders, OppLoans might greenlight you for a loan. 
  • Great customer service: Many reviewers cited the outstanding customer service they received from OppLoans.
  • Soft pull: If you don’t want to impact your already bad credit, the fact OppLoans only does soft pulls is good news. 

OppLoans Cons

  • High APRs: There’s no way to sugarcoat it — these APRs are extremely high. It’s the single biggest con.
  • Can’t get a big loan: If you only need something small to tide you over, this will work. But if you need tens of thousands, it won’t.
  • Short repayment phase: If you want to be out of debt, the short repayment phase is a pro, not a con. But if you struggle to pay it off in time and they won’t let you extend, it’s a problem.

OppLoans Frequently Asked Questions

  • How do I know how much I can borrow?

    Your best bet is to visit OppLoans to see what they list for your particular state. It may be up to $5,000 in some cases, as with Delaware. But if you live in Illinois, for instance, you can’t borrow more than $4,000.

    How much you can borrow and the APR max you’ll receive varies depending upon which state you reside in.

  • If I receive notification that I was pre-approved, does that mean I was awarded a loan?

    No. Although it may be confusing, it just means you might be approved. They’ll still need to check your credit history, personal details, and more to make the final decision.

  • Can I apply through a telephone call instead of filling out an online form if I’m hesitant to send out my personal information?

    No, OppLoans won’t accept loan requests through a phone call. It must be online.

  • What can I do if I have trouble making a payment in light of the economic unrest caused by COVID-19 right now?

    You should call OppLoans at 855-408-5000 to try to work out a solution.

  • Will my loan be reported so I can improve my credit score?

    Yes, OppLoans does report its loans to the credit bureaus. That means you may be able to improve your score if you handle your loan correctly by making on-time payments.

Alternatives to OppLoans

  • Speedy loans for those who have been denied elsewhere
  • Fast loans for those who have bad credit
  • Longer payment terms at fairly decent APRs
  • Bad credit loans at more competitive APRs
  • $500 to $5000, on a state-by-state basis
  • $500 to $10,000
  • $500 to $10,000
  • $1,000 to $35,000
  • 59 - 160%
  • 5.99 - 35.99%
  • 5.99 - 35.99%
  • 5.99 - 35.99%
  • Apply no matter what your credit score is
  • Considers any credit score
  • All credit types are considered
  • 580
  • 9 to 18 months
  • 3 to 36 months
  • 90 days to 72 months
  • 90 days to 72 months
Origination Fee
  • Depends upon which state you are in
  • Decided by each lender -- check the contract offer
  • Will be decided by each lender
  • Depends on the individual lender terms
  • Could be the next business day
  • May receive the next business day
  • Can be in one day
  • Potentially in one business day
  • Soft; does not affect your FICO credit score.
  • Soft for their site, but may be hard through their affiliated lenders
  • Soft for their site, but may be hard through their affiliated lenders
  • Might be hard or soft


Shannon Serpette

Shannon is a mother of two and an award-winning journalist and freelancer who lives in Illinois. She obtained a bachelor’s degree in English from Illinois Wesleyan University before beginning her 20-year career in newspapers. When she’s not spending time with her children, she is often pursuing her favorite hobbies — running, metal detecting, kayaking, and reading about personal finance.


Logan Allec, CPA

Logan is a practicing CPA and founder of Choice Tax Relief and Money Done Right. After spending nearly a decade in the corporate world helping big businesses save money, he launched his blog with the goal of helping everyday Americans earn, save, and invest more money. Learn more about Logan.

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