OneMain Financial

OneMain Financial

formerly Springleaf Financial

 3.8/5 (3401 ratings)
  • 5 stars
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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.

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    Overall Satisfaction Rating

    • 5 stars
    • 4 stars
    • 3 stars
    • 2 stars
    • 1 stars

    Pros

    • Flexible term lengths
    • Secured and unsecured loans
    • Loans from $1,500 to $20,000

    Cons

    • Charges an origination fee

    Bottom Line

    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.

    Top OneMain Financial Reviews

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    Rated with 5 stars
    Verified

    The experience that I received was excellent and I would recommend OneMain Financial to anyone. The ladies would keep you up to date on what is going on with your loan and they we...

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    Rated with 5 stars
    Verified

    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 loa...

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    What is OneMain Financial?

    OneMain Financial is a lender that offers secured and unsecured loans to customers in 44 states. OneMain Financial’s loans have fixed rates and payments, and the company doesn’t charge prepayment penalties. You can check for loan offers on OneMain Financial’s website without affecting your credit score.

    To apply for a personal loan with OneMain Financial, visit its website and complete the online application. You provide details like your:

    • Desired loan amount
    • Name
    • Email address
    • Address
    • Date of birth
    • Social Security number
    • Monthly income and source of income

    Once you complete the application, OneMain provides a quick loan decision. If you’re approved, visit a local OneMain Financial branch to verify the information you entered online and discuss possible loan options with one of its trained loan specialists.

    OneMain Financial rates and terms

    OneMain Financial charges APRs ranging from 18% to 35.99%. Rates vary depending on factors like credit history, income, debts and more. Term lengths start at 24 months and extend up to 60 months.

    OneMain charges all customers a loan origination fee that is either percentage-based or flat, depending on the state you live in and the size of your loan. Flat fees range from $25 to $300, and percentage-based fees range from 1% to 10% of your loan total.

    OneMain may also charge late payment fees, insufficient funds fees and government fees. Carefully read your loan contract for more information regarding these fees.

    OneMain Financial FAQ

    What kind of credit score do you need for OneMain Financial?

    OneMain Financial doesn’t have a minimum credit score requirement. Your credit score is still an essential factor in determining your interest rates, loan terms and conditions with OneMain, though.

    Does OneMain Financial hurt your credit?

    Yes, your credit score typically drops a few points when you take out a personal loan with OneMain Financial because it involves a hard credit check. If you make timely payments, you can make up the difference over the life of the loan.

    Can I get a loan with OneMain Financial with bad credit?

    Yes, you can apply and qualify for a loan with OneMain Financial if you have bad credit. However, your interest rates are typically higher.

    Can you skip a payment with OneMain Financial?

    No, you can’t skip a payment with OneMain Financial. Skipping or missing a payment on your loan may result in late fees and interest charges.

    Does OneMain Financial require collateral?

    OneMain Financial’s secured loans require collateral. If you qualify for a secured loan, work with your loan specialist to determine what item you should use as collateral.

    Is OneMain Financial legit?

    OneMain Financial has more than 100 years of lending experience and offers unsecured and secured loans in 44 states. If you’re searching for a large loan company with in-store services, OneMain Financial may be a good option. Visit OneMain Financial’s website to start your application and see what rates you qualify for.

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    How do I know I can trust these reviews about OneMain Financial?
    How do I know I can trust these reviews about OneMain Financial?
    • 3,870,953 reviews on ConsumerAffairs are verified.
    • We require contact information to ensure our reviewers are real.
    • We use intelligent software that helps us maintain the integrity of reviews.
    • Our moderators read all reviews to verify quality and helpfulness.

    For more information about reviews on ConsumerAffairs.com please visit our FAQ.

    Page 1 Reviews 0 - 10
    Rated with 2 stars
    Verified Reviewer
    Original review: May 18, 2022

    Due dates are the 20th of the month. The next statement is not issued until the 5-7th of the following month. That makes 12 days accumulating daily interest. If trying to make payment for next month say on the 1st or 2nd there is no closing or ending date for the monthly statement so that payment posts to same cycle does not reflect for following month. Worse is next month's is considered a missed payment unless you pay again. The delay in issuing a statement until almost 2 weeks after due date is predatorial in nature as daily interest accumulates.

    5 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Jan. 28, 2022

    I'm telling you please do not get a loan here. They are the Worst loan company I have ever seen in my life. If you are late 2 days they keep calling. I have a Netspend account, I have a regular bank account which this payment is taking out of. I have credit cards that are in good standing. They do not want to take any credit cards or netspend. I wish I would have just stayed with my original loan company. I am going to get a second job just to pay them off early. Because I cannot deal with these loan sharks. They will make your life stressful, depressed, and just think everyday why you got this crappy loan. DON'T DO IT.

    21 people found this review helpful

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      Rated with 1 star
      Verified Reviewer
      Original review: Jan. 1, 2022

      I took out a loan to catch up on some finances. I paid 138.58 on the loan on Nov 26th for the Dec payment. On Dec 5th they automatically took out another 138.58 and threw my bank account into a negative 165.00. I called them on the 7th Dec and they told me they would reverse the charges if I showed them proof. I sent a bank statement showing two payments were made to them for Dec. payments. They reversed it on their end but never reimbursed my bank account so where is my 138.58. I hope whoever reversed my payment and pocketed my money had a nice Christmas. It now January 1, 2022 and I have still not seen my 138.58 that they were suppose to put back in my bank account.. I will pay off my loan but will never use them again. Don't use these guys at any cost.

      17 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: Dec. 20, 2021

      I filled out the information. Get approved an unsecured personal loan. They saw my car loan on my credit file, call me. Want to use my car as collateral, so it is not an unsecured loan. Hang up and tell them, "Don't bother me." And they are pretty rude too, not recommend.

      15 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: Oct. 22, 2021

      At the beginning of Covid-19, I was looking for an Audi Q5. I found one at driven pre-owned in Lenoir NC. I went to check it out and ultimately found a different one I was interested in. Cody at Driven pre-owned contacted Brandy at OneMain Financial to get her to help him coerce me into buying his Audi. Well with both of them contacting me and pressuring me, I went against my better judgement and bought it. The car had so many issues from day one. This was the biggest purchase mistake of my life. The brake light was on, the backup camera didn't work, my taillight fell out on the highway, my engine was gone within a little over a year. I'm stuck with owing $12,000 and the cost to fix it is $11,000.

      One main financial had no business teaming with a salesman since Brandy is not a salesman and doesn't know anything about a good vehicle. Brandy should put this Audi in her name. I'm pretty sure what they did was illegal. I do not recommend this company at all. Taking advantage of people during the height of a pandemic is illegal. I'm going to keep reporting these people until something is done.

      8 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: Aug. 23, 2021

      I had a loan with One Main and my truck title was tied to the loan. I sold the truck and on August 2, 2021 the loan was paid off. It is now August 23, 2021 and the company that bought my truck still does not have the title. I will never deal with this company again and if you do be please be wary. The truck was sold to an established company, Tooele Auto, in Tooele Utah. One Main has held the title way too long.

      16 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: July 11, 2021

      One Main Financial sold me unemployment insurance and when I needed to use the insurance they denied my claim for the one and only thing I asked about when I purchased the insurance. They lied and told me, "Yes sir, it will cover your payment if your contract ends" which was a bald-faced Lie. So I ask you why would I buy insurance if I knew it would not cover anything? The answer is I wouldn't and I have paid for two years on this insurance, I feel like such an idiot but I was lied to and that is not cool. This company has no business ethics at all. Avoid One Main Financial completely.

      21 people found this review helpful
      Rated with 1 star
      profile pic of the author
      Verified Reviewer
      Original review: July 9, 2021

      Please stay away. Interest rates high. Lie and never gave my husband paperwork Horrible rates. Liars. Hard get out of it. Customer Service horrible. Try other options. I want people get together class action lawsuit. Please be careful with loans.

      22 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: June 29, 2021

      This company is a lender of last resort and they know it. After a divorce, my credit was damaged and I need to make some emergency home repairs. In hindsight, I should have approached a family member first but I was too embarrassed by my credit score. One Main will lend you money when you have a credit score of 580 but it's going to cost you 35% and interest is a daily compound just like a credit card and that is flat out predatory. Avoid them at all cost if you can.

      29 people found this review helpful
      Rated with 2 stars
      Verified Reviewer
      Original review: June 25, 2021

      Debt Cycle to keep you In debt. OneMain is the worse gear to keep you in Debt. I Paid over 8000 on loan for 14000. Still owe 11476. Has not gone down much everything towards interest very little towards principal. Race motivated.

      17 people found this review helpful

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        OneMain Financial Company Information

        Company Name:
        OneMain Financial
        Company Type:
        Public
        Ticker Symbol:
        OMF
        Year Founded:
        1912
        Formerly Named:
        Springleaf
        Address:
        NTBS-2320 6801 Colwell Blvd.
        City:
        Irving
        State/Province:
        TX
        Postal Code:
        75039
        Country:
        United States
        Website:
        www.onemainfinancial.com