OppLoans Review
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OppLoans Reviews

Bob Phillips


Bob Phillips

Good for bad credit loans from an online lender
Good for bad credit loans from an online lender
About OppLoans

With headquarters in Chicago, Illinois, OppLoans provides non-secured (no collateral required) personal loans to individuals with poor credit histories. The company’s interest rates are substantially higher than other personal loan companies because they work with consumers with few other options to borrow money other than a payday loan company.

OppLoans offers loans between $500 and $4,000, much less than the minimum amounts many personal loan lenders offer. These loans are repaid in terms ranging from nine months to 18 months — much shorter than what you’d find at many other lenders.










Privacy & Security

OppLoans has a complete privacy and security statement on its website
OppLoans uses security measures that comply with federal law, including computer safeguards and secure files.

Customer Support

OppLoans has an excellent reputation for customer support. It is accredited by the Better Business Bureau (BBB) and has an A+ rating. In addition, the company has an excellent BBB score of 4.54 out of 5 stars based on almost 1000 customer reviews.

OppLoans’ phone support is very prompt and professional. When we called, we were connected with a customer support representative in under a minute.

Phone Support
(800) 990-9130
7:00AM-11:30PM CT
9:00AM-5:00PM CT

In Conclusion

OppLoans is a customer service-oriented company specializing in lending money to people with poor credit. The interest rates it charges are among the highest we’ve seen for any personal loan company. Consumers with poor credit may want to also check with other personal loan companies offering loans to credit-challenged borrowers and compare interest rates and terms.


Does applying affect my credit score?
OppLoans may use credit report information provided by Clarity Services and Experian as part of the application process to determine your creditworthiness. Neither credit inquiry will appear as a hard credit inquiry on your Experian credit report, and therefore they will not affect your FICO score.
How does OppLoans compare to payday loans?
According to the Consumer Federation of America, a non-profit consumer advocacy group, payday loans range in size from $100 to $1,000, depending on state legal maximums, and carry an average annual percentage rate (APR) of 400%. The maximum APR for a loan offered through and serviced by OppLoans is 160%, and loan sizes range from $500 to $4,000.
What fees are associated with an OppLoans loan?
There is no obligation or fee to apply for a loan with OppLoans.

OppLoans Disclaimer

Disclaimer by OppLoans: Installment loan amounts typically range from $500 to $4,000. APR ranges from 59% to 160%. Installment loan lengths range from 9 to 18 months. Example: A $2,000 installment loan repayable in 9 monthly payments would have an APR of 160% and monthly payments of $394.58. Rates and terms vary by state. This is an expensive form of credit, and you should determine whether our product(s) meets your financial needs.


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Bob Phillips

Having spent over fifteen years helping people plan their lives financially, Bob has a vast amount of knowledge concerning personal finance. During his career, Bob mastered many different financial products to help people achieve their financial goals, including life insurance, disability insurance, mutual funds, and stocks and bonds. He earned the Chartered Life Underwriter (CLU) designation and held numerous securities licenses. Bob is an internationally published poet and is now a freelance writer living in North Texas with his wife and Doberman puppy.