OneMain Financial, formerly Springleaf Financial, has been in the lending business for over 100 years. We are committed to serving our customers' unique situations and are dedicated to treating them with the respect they deserve.
Our experienced team has serviced 10 million customers and over $120 billion in loans. Let us help you take control of your finances!
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Hello! I'm from Jacksonville, FL and this is my personal view of One Main Financial. I found One main financial through CreditKarma.com. Since then I have acquired 2 loans so far, both of which have been paid back in full. The approval process is of course very easy, NO pain whatsoever in the experience. The entire process can be done online, over the phone, or in person. You won't be examined or questioned on every little mistake on your credit report. Once approved and all the final paperwork is completed the loan is deposited in your account fairly quickly.
All One main financial agents at my location were friendly, honest, and quick to answer any question I had. You do need to be very clear about not wanting extra add-on charges that are unnecessary (like "dining rewards" or something like that). However, they do have a reward point system on the website from which you can earn points towards getting gift cards. I got like a $20 gift card at Walmart one time.
You also need to understand fully the payback process and interest charges which are DIFFERENT than your major bank loans. How I think of it is like those "Advance Payday Loans", you know the loans you have to pay back on your following payday. One main financial is like that to me only in a LARGER form and ALL of your paydays are spent paying them back. LOL At least that's how you should think of it if you want the lowest interest possible as it will keep growing higher the longer the loan is open (as with any loan, but One main interest rates are high). Yes, I do recommend One Main Financial to those who need loans (I recommend small loans under $4000 if you are just starting out) but can pay them back quickly!
The process of applying and getting the funding is pretty easy with OneMain. All their fees and the process are upfront. They have very high interest rates, but keep in mind that they finance the high risk group. If you have a bank account with stable income, it's hassle free to make payments from checking account. As long as you are responsible there are no trouble. Personally my experience with OneMain was great. Their local branch staff are very helpful and they don't judge you based on your situation. The borrower needs to be responsible in paying back on time. I would highly recommend them to my friends who might be in urgent need of money with average credit.
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You know what? You go to OneMain because you can’t get a loan anywhere else. You have bad credit it’s your fault. I went to the branch in Cordova Tennessee. The interest was high yes. But that’s because I have bad credit. They did take a title but that is collateral, again I have bad credit. There were no surprises. Read the contract. Make sure you have equity in a vehicle. 24% is high but not as high as a title loan. I had to give collateral on a different loan I have with a bank. I am very pleased and I’m going to pay it off quick.
I was in the market for a used vehicle, but was unable to get financing (I'm a new immigrant) due to my short credit and employment history. Through LendingTree, I found a lender OneMain Financial (Jackson MI), I was contacted by a Ms. Mikayla ** in 10min or less of applying online. Ms. Mikayla helped me or should I say ensured I get the loan as she understood my situation. I highly recommend OneMain Financial Jackson MI to anyone who needs help getting back on track!
OneMain Financial was so kind and very understanding of my situation. My credit wasn't very good but I got my loan. I needed my loan for medical reasons and they was very prompt. They made me and my wife feel comfortable and wanted. They could have denied my request but they didn't. I will return there for my financial needs in the future. Thank you so much. I recommend them for your financial needs.
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When you look up One Main Financial -- you'll find relatively good reviews elsewhere such as Wallethub. However, there is a dark side to this company; and it's their predatory loans. I was curious about the company since I had less than perfect credit myself, but it had been gradually increasing for some time now and will continue for the foreseeable future. But nothing could really prepare me for the shameless offers I received. I requested a modest $4,000 and was met with several offers. And well, I couldn't believe it at first. Their terms ranged from 24 - 60 months and the interest rate was in a staggering 25-30 percentile range.
For example, one loan was for $4,000 with a payment of 167.61 over the course of 36 months with an interest rate of 28.72 percent. That works out to a total of $6033.96 which is an additional repayment of $2,033.96. And that doesn't even include any other fees. And the offers were all secured loans meaning I would have to pony up something for collateral which is usually a car. It's bewildering to say the least that they are able to swindle people into thinking their monthly payments are fair when a lot of people aren't thinking about the interest rate. The caveat is I should be building my credit to perfection, but the point is there is no reason to make these offers to people in a similar situation who are desperate enough to take the bait. It's really a shame they would stoop that low.
Had loan for almost two years, my husband passed away and they offered me a modified loan, I explained that I did not want longer term, I was assured that it would be same term but lower interest rate. Now I owe over 11,000 on a payoff of 7700.00? Over 60 months vs the 21 months I owed. No matter the financial situation DO NOT OBTAIN A LOAN FROM THIS COMPANY!!!
If you have poor credit, shop around and read the fine print before you make your choice. One Main has some nasty side effects. I had entered One Main's pre-approval process for a small loan of 1k. To go further, they needed a lien on my car. I was willing to do that but wanted to spend the weekend pondering my decision. I'm working very hard to boost my credit score, and I had diligently gained 30 points in a matter of months. So I'm in the habit of checking my score regularly. That weekend, having pulled up a new report, I was disappointed to find all of my gains wiped out!
What was the difference? One Main placed a hard inquiry. It will damage my score for an entire year and remain on record for two years! Very disappointing to seek out One Main to improve my score, only to suffer a big setback because of my relationship with them. I signed a good deal with Opploans - no car lien and no hard credit inquiry - and I'm on the road to paying them back in full. They'll improve my credit instead of damaging it - as these loans are intended. The reps at One Main were nice, but the devil was in their details.
Signed, Dissatisfied Former Potential Customer
"I'll call you back." (They never did, although I left 2 messages) -- "Why didn't you return my calls?" (NO record of their calls whatsoever on my phone!) "You have been approved for a $20,000 loan." (I had only asked for $2,000.) Sick of the runaround and the snarky comments-- this company is predatory at best.
The first and most important thing is to know what you're getting into and ask any and every question you have. This is a high-interest loan that will take forever and a ton of money to get out from under if you are not paying it off early. The people in the office were friendly and open to answering any question I had. The process was very easy and straightforward. I applied and submitted some documents online and then went the next day to sign and go through the process. I spent about an hour in the office, and the money was in my account the following morning.
BEWARE, they will try to offer you more than you may want. I wanted the smallest amount they were able to offer and I was firm in that. The loan officer even recommended taking a larger amount to pay off closed credit card accounts from years ago back in college. She also recommended taking more to pay off my vehicle through them, which would be a way higher interest rate than my auto loan and put me in even more debt. DO NOT LET THEM SELL YOU MORE THAN YOU NEED.
Again, do not take more than you need and have a plan on how to repay that amount early. I needed only a portion of the money and knew I would do a full payoff, not even two full months later, with my tax refund and the rest of the money I never spent in the first place. One of the perks of this loan is there are no penalties for early repayment, and the loan fee was only $50. Over that 1-2 month period, I accrued about $50 in interest. Just imagine that over an extended period of time or a larger amount of money. Stay firm and research other options as well. Had they not tried to offer me $12,000 instead of the $3,000 I requested I may have been able to give them a five-star review. This company isn't without obstacles but is worth a try if your options and slim and you need money fast.
OneMain Financial expert review by Barbara Friedberg
OneMain Financial has been in business since 1912. In 1998, their parent company, Travelers Group, merged with Citicorp and created Citigroup, a global financial services company. In 2011, after many acquisitions, the company became OneMain Financial with 2,000 branches across 48 states. This personal lender combines a variety of lending solutions with a comprehensive website complete with financial education articles, calculators and tools.
Loan amounts: Loans range from $1,500 to $15,000, and the maximum loan amount varies according to state.
Secured and Unsecured Personal Loans: OneMain offers both unsecured and secured personal loans. The secured loans may offer lower interest rates. The interest rates are fixed for the life of the loan.
Flexible payment options and no prepayment: OneMain Financial allows borrowers to choose the date they make their payment and the method by which they pay - online, by phone or in person at a branch. There are no prepayment penalties when the borrower repays the loan early.
14-day guarantee: OneMain offers a 14-day risk-free guarantee; in other words, a borrower can cancel his loan and return the money within 14 days without penalty.
Hardship assistance program: The company has a program in place that helps borrowers who encounter a financial hardship and cannot repay their loan.
Community involvement: OneMain Financial shows their generous and community-minded philosophy by getting involved in many community service endeavors, as well as providing financial education throughout the U.S. for both adults and kids.
Best for: People looking for an extensive library of information as well as loan options to refinance debt, fund financial hardship such as excessive medical bills and help with expensive home repairs.
OneMain Financial Company Information
- Company Name:
- OneMain Financial
- Company Type:
- Ticker Symbol:
- Year Founded:
- Formerly Named:
- NTBS-2320 6801 Colwell Blvd.
- Postal Code:
- United States
- (877) 550-6246
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