About OneMain Financial
OneMain Financial offers personal loans online and at 1,500 physical locations in 44 states. Customers can choose between unsecured personal loans, secured personal loans and auto loans. You can secure your personal loan with an automobile, RV or boat. In many cases, loans are available the same day you’re approved. OneMain Financial offers loans from $1,500 to $20,000.
Overall Satisfaction Rating
- 5 stars
- 4 stars
- 3 stars
- 2 stars
- 1 stars
- Flexible term lengths
- Secured and unsecured loans
- Loans from $1,500 to $20,000
- Charges an origination fee
OneMain Financial offers secured and unsecured loans with APRs up to 35.99% and terms up to 60 months. OneMain loans have fixed rates and payments and no prepayment penalties.
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Please do not ever get a loan with One Main Financial, they are a rip off! Their interest rates are extremely high, they have hidden fees that are not explained in the beginning and once you are in a contract they are putting your payment majority to the interest and only a small amount to the principal. I first got insurance through them to ensure security if a crisis occurred during the loan, I canceled it in a few weeks, they did not totally deduct correctly from my balance from the insurance taken off.
Also I had car insurance through them for a few months due to expensive full coverage with my insurance and that raised my payment higher, once I deducted that insurance and got my own back, the principal balance barely changed. They are still adding extra fees and my payoff is wrong. When I took the loan out in July of 2019, it was for 14,500. I have paid a little over 3000 dollars in that time frame, as of today my payoff balance is 15,121.13! Go figure, they are a scam!!!! Sophia ** is my name.
If you want to get taken on an astronomical interest rate, deal with incompetent financial advisers (basically used car salesmen) and get harassed constantly by collections, 6-8 phone calls a day for missing a payment by 4 days, call them. Absolutely the worst experience ever.. Run. There are much better options than dealing with these bottom feeders.. Horrible.
Tell me this is not predatory lending. $4000 loan at whatever compound interest. 1st they don't tell you there is origination fee ($700) on top. You sign then later you find out you are paying back $4700 with compound interest. Monthly payment of $164 and $67 goes to principal and the rest $98 interest every month. If you don't plan to pay the loan at a lump sum some day, don't use this lender. Do the math. It's predatory lending at its best. I don't understand why credit karma market them.
We received a letter for a loan offer from OneMain Financial in November of 2018. We just had a baby in August, prior to having her I went on bed rest so being without a second income for a while added some stress to the holidays so we looked into the loan and decided to go in to our local branch. Everything sounded wonderful. We did not need this loan to survive, we were not delinquent in any bills and we did not jump into an offer out of desperation. We qualified for an $8,000 loan and we accepted. We set up automatic payment and planned to pay it off with next year's tax return.
Fast forward to March 2020, it's tax season, we receive our return and we go to pay it off and our payoff balance is $7,535.35! The interest rate was unbelievable! Every month we paid $250 and only $464.65 went towards the loan in 17 months? Do not ever get a loan from them. This was meant to help us help ourselves, interest is understandable but this, was theft and we were not made aware the interest would be so incredibly high, we would have never accepted such an offer, who would? We will be sure to tell everyone we can.
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.
I became involved with this company by default. An ex-friend needed a cosigner. Having a long time friend in a dire situation, l agreed to assist by co-signing her OneMain loan. They were friendly and made it sound legitimate. After only 2 payments, she stopped paying. Instead of notifying me of her lack of payment, OneMain reported to the credit bureaus that l had missed a payment, thus damaging my credit rating without warning. Trying to pay this loan off has been a nightmare.
OneMain employees are rude and hateful each time you call and all they do is tell you lies!! I paid $2,000 informing them it was to be applied to the principle. Six months later attempting to pay off the loan, the balance is the same as before my $2,000 payment. When l asked if they applied that payment to the principal, Betty told me that she has no record of that request. After paying $2,000 payment, six months later my pay off balance is not changed. I'm an old woman and have experienced more deceptions than l could ever mention, however this is the worst financial experience of my life. If you have any other option in the world, l would advise you to go elsewhere to seek financial assistance. This company is a total rip off. They are taking advantage of people. I cannot express to you the depth of deception and lies that l have experienced from this company.
I was involuntarily separated from my job back in October of 2019. I immediately let my financial institution abreast of this situation. I talked with Brad from the Fort Walton Beach Florida One main Financial first since he was handling my account. I let him know of my involuntarily separated status from my employment. He seemed to want to work with me and let me know to just keep updating them every week so we can try to get a payment in. In the weeks following I talked with a representative every week updating them about the same information I gave to Brad regarding my employment status.
Each representative I talked to never indicated to me that if I don't set up a payment arrangement, then my vehicle would be up for repossession, they all consoled me and let me know that it was fine, as long as I gave them an update every week to work with them, but never was it stated that I had to make an arranged payment to keep my car from repossession, instead they made notes on my accounts and ensured me that keeping them up to date would suffice. I went so far as to let them know when I finally got hired for a federal government job and that I would give them the rest of the details when I got my official offer letter. They also put that in my notes.
This week, the week of 30 January 2020 was going to be the week that I received my disability, I've stated that each time I updated them on my status. Yesterday, walked outside of my home to finish my onboarding process for my federal job and my car was gone. I didn't receive a warning in the mail, I didn’t receive a warning from the representative, and one of the representatives Tattiana from the One Main Financial Fort Walton Beach Branch informed me that if I made a payment by the end of the month, then my account wouldn't be turned over to repossessions. I received nothing but false promises from this company, and they claim to want to help me and better me.
None of that happened during receiving services from them, and even more so when I needed their aid the most, they weren't there. Instead, I get repaid with a repossessed car with an impossible amount of $20K required to get it out which is about the same amount as the original loan. They should be held accountable for their business practices and at least grant the proper courtesy of mailing or calling to inform the customer that a certain amount needs to be paid and or an arrangement needs to be made before repossession as well as adding that just giving verbal updates every week will not suffice when it comes to keeping your vehicle out of possession.
I took out a loan (using my vehicle as collateral), their website shows the payoff date as July 2020 and the payoff amount as $650 (approx) more. I called them to find out why the difference, the first manager Ashley couldn't answer the question, so here comes Sonia. The explanation was that the page of the payoff date is "cut off" two months early so One Main Financial can call and get the last two payments "OVER THE PHONE?" My payments are all direct pay so I asked how much are the last two payments, Sonia stated that she wasn't sure. What the heck kind of answer is that, this is my money and my finances here and she couldn't tell me. GO TO ANOTHER COMPANY IF YOU WANT A LOAN, NOT THIS ONE! I am paying the price, I am 70 years old and they are taking advantage of me. Don't make the same mistake I did.
Very easy to get money but try and pay it off early. They will fight you when you try and pay it off early. They promise you a refund on Insurances but you will never receive it. They just plain lie about everything.
Be very careful with unsolicited emails from One Main Financial, I received an offer to offer me more money, with a prompt in the email that stated it would not affect my credit, well it it, and the corporate executive care branch of One Main financial denied any such action, as soon I clicked on the process to see what the email was all about the offer of more money instantly went straight to my credit report so if you see a button on an email from One Main Financial state it wont affect your credit it's not true. The Executive care at One Main Financial is nothing but terrible, so find another lender. I regret borrowing money from this company initially, too high of interest loan and predatory attacks to get me to take more money .... Stay Away ... Best Of Luck!
When I first heard about OMF, I was at a point of desperation and needed cash. We had just purchased a fairly new home and needed to furnish the home completely. Our old furniture which was in storage was damaged in Hurricane Matthew and we didn't find out until we began moving into our new home. OMF had sent us a preapproved letter in the mail so we decided to give them a try. Long story short. It was one of the worst decisions I've made in life. They got the title to my truck that I only owed 3000 dollars on. The loan was for 10,000. That was 2017. Here it is after never missing a payment, 2020 and even though I didn't get the full amount, my balance to OMF is still at over 9000 dollars. Going on 3 years of making payments of almost 300 dollars a month and I've only paid back less than 1000 dollars.
When you get a OMF letter for a pre approved loan, trash it. It's loan sharking at a very deceptive level. Hindsight is always 20/20. I warn you, if you need cash, try to go another way. Ask family to help you out or better yet buy one thing at a time. We've been in our home going on 3 years and I now see that we could've easily furnished it one room at a time and not have such a huge debt over our heads. Not to mention, the truck that would've been paid off by now is now under a new finance company OMF, for another 3 to 4 years. DON'T DO IT. IT'S TRULY NOT WORTH WHAT YOU HAVE TO PAY BACK! It's like selling your soul to the devil.
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!
Unfair, Deceptive, Abusive Acts or Practices. Once again they refuse to give me an over payment back! I accidentally made a double payment this morning to both of my loans (auto paid them yesterday) and IMMEDIATELY saw the error. I called them and they refuse to void it and it's on my debit card. They are going to make me wait again and will only put it to my loan like last time they screwed me over. It took over a month and it's CHRISTMAS. ONEMAIN WILL STEAL YOUR MONEY FOR BEING HONEST. I know they could have voided the transaction because they've done it for people I know and had to do one in the past because they accidentally charged me twice, themselves.??
This company is a joke! They lie to you and rip you off! BE AWARE and DO NOT go with this company!! I cancelled insurance I had and I was told my loan payment would go back to original amount once cancelled! Now, they tell me they never said that and it doesn’t change the payment! So, although the insurance is cancelled, I’m still paying for it because the payment has not been adjusted without it! NEVER AGAIN will I take another loan with them! STAY AWAY or you will lose!
So number one there are reviews on here that look like they come from the employees. Just look how they read... I was told based off the PRE QUALY THAT I WAS FOR SURE GETTING A LOAN THEN TO FIND OUT THEY WANT A CAR WITH EQUITY. So I am getting the inquiry removed. I had to send in a fax. Please beware this company is no more than a title loan type of place. I now have to go through legal matters to get this taking care of. Again I looked at some reviews. They look like people are trying to be indirectly to consumers. Like the lady who said I HAVE BAD CREDIT SO I SHOULD DEAL WITH IT...That's something a company would say to a consumer indirectly. Trying to act like they are the customer when they are not.
This company will rake you over the coals. When I traded my truck in they quoted the finance guy at the dealership a payoff and when they sent the pay off they returned the check and said it wasn’t enough. The customer service sucks at the Killeen office and at the executive customer service office. They were charging 20% interest even though my credit was good. Do not use this company because they will rob you for everything you have and then some.
A bunch of heartless crooks. They are very greedy. They are charging you a very high interest rate which is not enough because then they also charge you a $200 processing fee. They need us more than we need them. Went to a credit union and everything is great. This company hire CROOKS. They are surely not looking out for us.
Provided me a qualified report based on a $13000 loan at a 5 year term and rate and then when went to complete paperwork and provide my pay slips they reduced the amount. Wanted to put notes on both my vehicles and increase the rate to over 30%. I want to call Experian and bitch about their tactics through their site. They provided much of my data to these turds. I really dislike this crap. Trying to find a solution only to be screwed over and damaged by them pulling my credit.
I called them because i was pre approved for a loan. All they were worried about was getting my vin number to my vehicle. They weren't explaining nothing at all to me on why they need my vehicle info. He said they can possibly pay it off and give me my 4000 loan and make my payments the same and I can pay it off in 6 years. No way. This is totally a scam. The person was so rude whoever I was talking to. Do not do it.
I just want consumers to know that One Main loan company is a rip off. I took this revolving loan out in 1996 for 15,000.00. At the same time I took out a 15 year home equity loan of $80,000.00. I'm almost finish with paying that loan off and is yet to see a dent in the loan I took out with One Main financial. I need someone to investigate them and find out why I have not seen any change in the amount I borrowed. Something is not right.
They sent an app for an unsecured loan of $15,000. I didn't need it, I work for a good paying company so I could usually take care of my own things, however I was buying my son a car I saw on a site for his birthday/Christmas gift. Nothing special, just a reliable good first car, so I decided ok a small maybe $3000 loan would be ok, Pay it off in couple months of overtime. They kept asking for this paper or that document, of which by the time they kept running it was dropping my score each time. Then after a headache and a run around they said no like 3 weeks later. Basing it ONLY on 1 income source, when I have 3 others and the fact They ran my info so many times it was a fiasco. I called my credit union which I should've done since the beginning. Don't trust this mess, Go to a reputable lender.
They made my experience very smooth, easy and worked with me to get the loan approved. Best experience ever with a lending company. I will go back again if I ever need another loan. I highly recommend contacting OneMain Financial for all of your Loan needs.
I took out a loan with OMF last july. It was quick but they gave me 31% apr on an 8k loan payable in 5 yrs! I asked it to be in 2 yrs but they refused. They said my monthly payment is 250 a month so i gave in. But then it turned out to be 315 monthly because they said the interest is DAILY! So if i paid it for 5 yrs it would be 18600 total! They live up to their name of being loan sharks! Also, they took out almost 1k for that loan as fees. I paid for 4 months total of 1300 but my loan balance was still 7760. Out of 1300, only 300 was credited to my loan???? Siyet!
Predatory lender that brings you in on the assumption that you have gotten approved for a loan and then renege. They want your car as collateral and even then don't come through with the offer they told you about on the phone. Waste of time and SO SO relieved it didn't go through especially after reading these reviews. These people really did me a favor by turning me down.
This is only my personal opinion. When you are desperate and overwhelmed with debt. It is so easy to fall prey to predatory lenders with a "I am here to rescue you approach". Like a child we fall right into their greedy hands. They make it seem so easy that you actually have blinders on and before you know you are literally in a financial trap.
For me I did my research after I became a consumer....bad mistake on my part. I will only speak on #1 loan because believe it or not I have two. #1 loan has a remaining balance of 2239.18 and it is deducted from my bank on the 5th of every month.... I have paperless billing so I wasn’t watching the bill every month. Trying to see where my balance was in 6-8 months. I could not believe it. It was slowly moving, so I looked at my bill and was shocked to see October statement. I pay them $134.54 each month and $68.37 went toward the principal and $66.17 went to interest.
So I called the 1-800# to try to lower my interest rate because I felt it was excessive. She transferred me back to the East Point branch and I explained my concerns. She tells my rate 35% and it was based on my credit score and the loan was unsecured. I told her I didn’t feel my credit score warranted that score and if it is unsecured I wanted my daughter car title back so I could give it back to her. I feel they be enriched both ways. I just hung up upset.
Now my #2 loan is 19.+percent. I am the same person and I put my car up for collateral. My credit score could not have been that different. It’s may not be the best right now because of my situation but it is still between 627-640. I have learned a hard lesson but if I can stop someone else from making the same mistake I did. I feel that this legalized loan sharking....just be careful while desperate.
This company will only give you a loan if it is a SECURED LOAN with you using collateral. I applied for a UNSECURED personal loan for $9,200 with the pre offer that was sent to me via email. I had explained how, I didn’t want a secured loan at all. I talked to Sundae, and she had informed me that I could get a unsecured loan if it was offered. I sent all of the documents that where needed to the branch, and I have a 756 credit score with Experian. I called several times on yesterday to speak with Sundae wanting to make sure that, I process everything right. I can tell she was getting a attitude with me after the third call, but that is her job to speak with me following the loan process. Now I make 6 figures a year, and just wanted the loan to make a large furniture purchase. I just knew I would get approved, because I have every single thing that was needed including excellent credit.
I received a call from Sundae this morning telling me my application was declined. I was baffled, and asked her why was I denied? She kept telling me she didn’t know THEY DENIED ME! Who is they? I told her I would just call the corporate office, and she said they could probably tell me why my loan was denied. She said that they don’t give them the reasons why the application was declined at the local branch. WHAT???? That sound crazy! So I called the corporate office, and they told me since the local branch processed the application they were suppose to tell me the reason why. They kept telling me only the local branch have all of that information, and that they couldn’t assist me. The rep that I was talking to Sundae lied to me saying that she didn’t know why my application was declined. I know for a fact, because I didn’t want to take the secured loan giving collateral that is why they denied me.
One Main have hundreds of reviews all over online regarding THEM ONLY WANTING A CAR TITLE OR A VEHICLE to get a loan. After, I told Sundae that, I didn’t want to use my vehicle she said she STILL had to put my vehicle vin number, and information in to proceed with the application. This entire company don’t want to give loans nor lend money UNLESS you are giving them some of your assets! Then Sundae lied like they pull Equifax and they pulled experian! UGH! I regret ever even applying for a loan with them, because they are the worse!!!! At this location they try to act all nice, and want you to do the application. Only to deny you IF YOU ARE NOT DOING A SECURED LOAN WITH A VEHICLE!!!
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
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