Yay or nay?

Discover what the internet is saying about OppLoans.

Upgraded Reviews scanned the web to find out what real users are saying about OppLoans.

See the highlights below and decide for yourself!

Pros and Cons

✅ Pros

It allows for potential rates below many other quick loan options, namely payday loans.
Review Pros
The funding timeline can be as soon as 24 hours.
They have very easy and fast approval.
With funding available as soon as the first business day following approval, OppLoans often gets its borrowers money fast.
There is no credit check for opportunity loans.
They have an easy online application.
Applying for a loan with OppLoans will therefore never hurt your credit score with companies like Experian, Equifax, and TransUnion.
OppLoans claims they are the bees-knees for having interest rates that range between 100% and 200%, which is good for a payday loan company.
Quick approval is done.
Long repayment terms are offered.
It has provided loans to over 100,000 consumers.
OppLoans makes loans available to borrowers with less than perfect credit, giving them an opportunity to improve their credit score by taking the loan.
Customers will find friendly, courteous, pleasant representatives who are more than willing to help them find what they’re looking for.
Applying for a loan on OppLoans is a pretty simple process that conducts only a soft pull on your credit.
They offer fast approval.
OppLoans focuses on borrowers with bad credit.
There is no need for a face-to-face meeting like the kind you have to have with a bank.
You can borrow anywhere from $500 to $4,000, depending on the state where you live.
There are no hidden fees, deceptive billing practices, or prepayment penalty fees apply.
Since its inception in 2009, 25,000 borrowers have benefitted from using OppLoans.
The only requirement beyond being in a state where OppLoans operates is a current income and a checking account.
It is better than payday loans.
Among lenders who serve borrowers with average credit, poor credit, or bad credit, OppLoans charges competitive rates.
If you meet the minimum criteria, you can apply for a loan even with a low credit score.
It is cheaper than payday loans.
There is no credit check.
Fast funding is offered.
Unlike a title loan, you don’t have to use your property as collateral to get a loan.
The company makes the entire application and approval process smooth and easy.
OppLoans only offers unsecured personal loans, which means that there is no collateral required to receive these funds.
OppLoans is well respected by customers and the lending industry alike.
The fact that OppLoans is a legitimate lending company is great these days when there are still so many rogue companies cluttering up the Internet.
OppLoans has one of the highest consumer satisfaction ratings of any company anywhere on the credit spectrum.
The application and approval process with OppLoans can be completed within minutes, and you can receive your loan proceeds as soon as the next business day.
Potential customers can apply online in a matter of minutes and receive approval in a reasonable amount of time.
Borrowers may be eligible to refinance into a larger loan or extend the loan term after making on-time payments for a few months.
OppLoans personal loans carry no hidden fees or teaser interest rates.
Reviews on OppLoans show it to have an A+ rating from the Better Business Burea.
You can borrow up to $4,000.
Unlike the 2-week billing cycles that are typical with payday lenders, OppLoans term durations can be as long as 36 months.
OppLoans’ OppU educational program is free and online.
They allow up to 36 months to repay your loan.
Your loan term can be as long as 24 months, depending on where you live.
OppLoans provides a team of loan advisors and acclaimed customer service representatives to help guide you through the process.
Applying for a loan with OppLoans will not effect your credit.
OppLoans is renowned for its top quality customer support and has earned an A+ rating from the Better Business Bureau.
It offers longer to repay and lower rates compared to payday loans.
The positive reviews revolve around the company’s quick loan process and next-day funding.
OppLoans reports payments to all three major credit bureaus, so your score can increase if you make on-time payments.
OppLoans won’t check your credit score.
There are no hidden fees.
OppLoans gives you the ability to change your payment date so you won’t fall behind if your situation changes.
If you have good credit, or poor-to-good credit, then you may be able to receive your funds within one day.
By extending your loan repayment up to 36 months by borrowing from OppLoans, that makes your loan easier to pay off.
Payment date can be changed online.
OppLoans makes personal loans that cost less than what you’d find at an online or storefront payday lender.
A personal installment loan from OppLoans is cheaper, safer, and more flexible than payday lenders.
It provides personal loans for people who have subprime or poor credit.
Your payments can improve your credit score, allowing you to qualify for other types of loans and lower rates.
They offer refinance options after on-time payments.
OppLoans offers significantly lower interest rates.
OppLoans allows you to quickly apply for a loan online, potentially get approved within minutes, and get your loan funded within the next business day.
There are no penalties for early repayment.
It may be the only option for a lot of borrowers outside of expensive payday loans.
OppLoans makes loans with a minimum amount of $500 and a maximum amount of $5,000.

❌ Cons

OppLoans is not applicable for anyone in the military.
You might not be able to qualify depending on where you live.
OppLoans is another loan-company website that is jam packed with images of non-Caucasian people.
It is more expensive than traditional personal loans.
It could increase the amount you pay in interest over the life of your loan.
It doesn’t help if you’re in ChexSystems.
The interest rates for the line of credit can go as high as 160 percent.
Because Opploans provides loans to people with less-than-perfect credit, the interest rates tend to be high.
The amount of interest you’ll pay will depend in part on which state you live in.
Up to 3% of your loan amount may be deducted in origination fees.
OppLoans is not a good idea if you are trying to build credit.
In four particular states, they do charge an administration fee.
OppLoans interest rates are much higher compared to those offered by traditional banks and credit unions.
Working with OppLoans is limited most by their geography.
You can’t get more than $5,000.
It has higher rates compared to most peer lenders.
Paying 99.00%-199.00% interest on your loan is akin to paying over 2-3 times the amount you initially borrowed.
They are an expensive option.
The interest rate that you will be charged will vary from 1 state to another.
If your employer doesn’t offer direct deposit, you can’t borrow from OppLoans.
While OppLoans personal loans offer a good solution for specific borrowers, others may be better off with other personal loan solutions.
There are origination fee on loans.
You must be currently employed.
It is not a good idea if you can get cash elsewhere.
There is an income requirement of min $1,500 a month. If you don’t meet it, you won’t be able to qualify.

⚖️ Final Say

Read the summaries of what reviewers think about OppLoans below.

Review Summaries
OppLoans focuses on borrowers with bad credit. As a result, its interest rates are extremely high. However, it does have educational initiatives to help its borrowers climb the credit ladder, potentially earning the consumers better interest rates in the future when they apply for different loans with other lenders.
An opportunity loan is just that, an opportunity to get out from payday loans and get the money you need fast. OppLoans can fund your loan the next day and give you at six months or more to pay it off.
If an installment loan is needed for your current financial situation, OppLoans is clearly one of the most reputable lenders in the space.They have interest rates competitive with other installment lenders paired with extremely high levels of customer service. Their call center representatives are professional, available, and offer factual information based upon our review.
Be very careful when shopping around for short-term loans and payday loans because there are often better options. If you can wait a few days, you may have more luck with a credit card. Even the extra charges and the higher interest rate you receive for withdrawing money from your credit card may still come to less than what companies such as OppLoans are willing to charge you in interest and fees.
OppLoans is changing the way people think about short-term loans. For one thing, OppLoans offers higher loans than other short-term loans services; between $1,000 and $10,000. Another positive of OppLoans is there interest rates are much, much lower than traditional short-term loan services. Once you are approved, funds will be deposited in your account the following business day.
If you decide to take an OppLoans personal loan, carve out room in your budget to pay the loan off as soon as you can to save on interest charges. Loans from OppLoans are too expensive to be a long-term or repeat solution for your finances.
OppLoans are not for your average online personal loan borrower; they come attached to a much higher-than average interest rate. With the ability to borrow up to $10,000 along with next business day access to those funds, OppLoans personal loans present a solution for fast cash that services even those with low credit scores, making personal loans for debt consolidation and other purposes more accessible.
You can use companies like OppLoans only when you can’t qualify for personal loans. These companies can really save you from predatory lenders, but they are more expensive than personal loans.
It’s difficult to imagine a lender with a more favorable customer view than OppLoans. The common sentiment is that the company’s customer service is off the charts and the loan application process is a piece of cake. This lender is definitely recommended for consumers in need of a personal loan, but those in the market for other types of loans will need to look elsewhere.
Interest rates on loans from OppLoans are much higher than those on a credit card or traditional personal loan. However, they’re more affordable personal loans for bad credit when compared to most other alternatives. OppLoans can be less expensive than lenders offering payday or car title loans because its interest rates are lower and, in some states, have no administrative or origination fees.
If your credit score is less than perfect and you need access to cash fast, OppLoans has earned a reputation as a trusted and transparent lender with top notch customer support.
OppLoans is an online lender that provides personal loans for people who have subprime or poor credit. The company is an alternative to predatory lenders who offer payday loans and cash advances at outrageously high interest rates and on very short terms.
OppLoans is an excellent funding source if you have less than perfect credit and normally borrow through payday loan sources. Loans can be up to $4,000, are unsecured, and offer you an opportunity to improve your credit score when you make your payments on time. It is a perfect product for you to re-establish your credit after having experienced a period of financial difficulties.
If you’re looking to take out a loan for a longer period than other short-term options offer, OppLoans could be a good decision for you. It’s a highly rated company that’s often complimented for dedicated customer service. With an easy online application, you’ll know if you’re approved within minutes and receive approved funds as soon as the next business day.
An opportunity loan is just that, an opportunity to get out from payday loans and get the money you need fast. OppLoans can fund your loan the next day and give you at six months or more to pay it off. OppLoans is a great choice for people with bad credit or no credit at all.