OneMain Personal Loan is great for those with poor scores

OneMain Personal Loan
OneMain Personal Loan offers a chance for those with poor and fair scores.

Getting a good loan with poor or fair credit scores is tricky. Some services accept co-borrowers that sort of drag your numbers up, making sure you’re eligible. Others, however, aren’t willing to give a chance to these users and just allow people with excellent credit to apply. 

OneMain Personal Loan works quite differently. Instead of judging a book by its cover, or by its score, might we add, the service works with a combo of credit history and income. This way, if you prove you can pay the monthly installments for the loan, it might just be yours. 

There is also the possibility of getting a secured loan. This is why OneMain is one of the top lenders for people who are currently suffering with their credit scores. The upside is that through timely payments for your loan, your score should also go up a little bit. 

Are you ready to understand everything about OneMain Personal Loan? Keep reading to find out how it works, why you should use it and a few problems you must be aware of before applying. 

Advantages of using OneMain Personal Loan

OneMain Personal Loan will catch your eye if you currently have a poor or fair credit score. The reason is simple, OneMain combines your credit history information and income. Which means that it’s more important if you can keep up with monthly installments than having a perfect record. 

But there are some other pros, including: 

 Perfect for low credit borrowers;

  • Secured loan options available; 
  • Evaluates credit history and income for approval;
  • Accepts a co-applicant;
  • Uses a soft credit check for prequalification;
  • Option to choose your payment date;
  • The loan is funded within one or two days. 

There is another advantage of using OneMain, it offers plenty of flexibility when it comes to payment terms. You can choose one of the following payment conditions: 

  • 24 months;
  • 36 months;
  • 48 months;
  • 60 months. 

Payment terms and fees

OneMain Personal Loan has one big problem: it doesn’t work with the most competitive interest rates in the market. Since it’s a service that works mainly for people with poor credit scores, the APR is naturally higher. Check out some of the terms and fees you’ll have to pay once your loan gets an approval: 

  • 18% to 35,99% APR, the better your score, the lower the interest rate;
  • $25 to $500 origination fees or 1,5% to 15% fees according to the state you’re in;
  • $10 to $50 returned payment fee. 

You can apply easily using the official OneMain website. 

OneMain Personal Loan
Credit Card
OneMain Personal Loan
18% – 35,99% APR Secured loan options
No minimum score
Click here to Apply On credit card page
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