Personal Loan Reviews

OneMain Financial Personal Loans

1.75 261 Reviews Write a Review

OneMain Financial

  • We specialize in personalized loan solutions for debt consolidation, unexpected expenses, home improvement, and more.
  • Personal loan amounts up to $10,000
  • Fixed rates for the length of the loan
  • Money the same day, if approved by noon

All Reviews

Results 1-10 of 261Results per page: 5 | 10 | 25Page 1 of 27   Previous | Next
Helpful to 116 out of 120 people

DO NOT do business with this company.  They do not abide by any of the accepted standards of ethics when it comes to banking.  My girlfriend got snookered into doing business with them.  They will tell you one thing to your face and then print a contract that completely contradicts what they tell you.  They write their credit contracts so it is impossible to pay off the loan early by doubling or even tripling your monthly payment.  They literally charge you the full term's interest up front, the day you sign the contract.  I will give you an example based on my girlfriend's credit contract.  She signed a loan for $7,000 for 60 months at 25% APR.  Her payment was right around $205 a month, give or take a dollar.  Beginning with her first payment, she paid $300 a month in an attempt to pay down the balance faster.  After six months, she used the company's website to get a payoff quote.  The figure quoted was right around $7050.  This seemed insane.  Using any standard amortization calculator, paying that loan at that rate at a pace of $300 a month should have had the balance owed down to just over $6,000.  But that is not how One Main does it.  They said her balance started at roughly $12,300.  They arrived at that figure by taking her $205 payment and multiplying it by 60.  They applied all six of her payments totaling $1800 to the $12,300 "balance."  That is, they applied her payments entirely to interest charges that by any legal standard known could not have accrued yet.  5 years doesn't happen in six months.  That is basic math solved by a 99 cent calculator.  Then, to add insult to injury, the sleezy loan shark at her local branch said "If you pay the loan in full now, we're giving you a REFUND of $3400 !!!"  This is not how any standard car loan, mortgage, motorcyle loan, home equity loan, et al works.  It is supposed to be that you make a payment, part goes to principal and part goes to interest.  It is supposed to be, the more you pay, the overage goes to principal and the more the balance shrinks.  And if you ask them point blank how their loan works, they will do everything in their power to conceal exactly how repayment works.  They will use vague terminology that doesn't jive with what you would hear at any reputable bank, credit union, or mortgage house.  I wish I had been there to see this contract before she signed it.  Now she is basically stuck with it because she doesn't have an extra $7,000 laying around.  But we will be filing complaints about their business practices with the BBB and the OCC and every other body we can think of.  Because regardless of what is printed in the paper, they do not have the right to flat out lie to your face about how the loan works.          

Sep 06, 2012 Reply
Helpful to 21 out of 21 people

You should file a complaint with the CFPB's new complaint system - if the lender is not regulated by them they will send it to the correct agencies. There is also a required response time the bank has to respond to the inquiry etc.  - try it out it wont hurt.

achmedshatz's reply was:    

  Oct 10, 2012

achmedshatz(5, 26)

Review by achmedshatz

5 Contributions 26 People Helped

Helpful to 14 out of 14 people

Thank You I almost went to their branch today until I found this review and many more like it. I am a single mom of two and YOU just saved us. Happy Holidays!!!!!!!

nippinnaclippin's reply was:    

  Dec 10, 2012

nippinnaclippin(1, 14)

Review by nippinnaclippin

1 Contributions 14 People Helped

Helpful to 18 out of 19 people

This is totally true you would borrow 2000 and pay back a little above 4000.

angelcheeky's reply was:    

  Oct 05, 2012

angelcheeky(1, 18)

Review by angelcheeky

1 Contributions 18 People Helped

Helpful to 10 out of 10 people

Had same experience. One Maine is he worst!!

jrpaulinoh's reply was:    

  Jan 22, 2013

jrpaulinoh(2, 13)

Review by jrpaulinoh

2 Contributions 13 People Helped

Helpful to 8 out of 8 people

Ths sounds like a Rule of 78 loan. All the interest is tacked on when the loan is taken out. Springleaf Financial does those types of loans as well. If you pay the loan off early you get a portion of the interest refunded. 

bildun's reply was:    

  Mar 29, 2013

bildun(1, 8)

Review by bildun

1 Contributions 8 People Helped

Helpful to 8 out of 8 people

yes this is good information. Contact the CFPB

bmize016's reply was:    

  Oct 24, 2012

bmize016(1, 8)

Review by bmize016

1 Contributions 8 People Helped

Helpful to 5 out of 5 people

I thank you and all the others who posted reviews. Just before clicking on the submit button, I decided to check for reviews. I am getting out of this website post haste and forgetting I ever heard of them!

mommatocharl's reply was:    

  Oct 21, 2013

mommatocharl(4, 10)

Review by mommatocharl

4 Contributions 10 People Helped

Helpful to 4 out of 4 people

thanks!! g!!! I almost burn my self,thanks again

sergioivan's reply was:    

  Oct 31, 2013

sergioivan(1, 4)

Review by sergioivan

1 Contributions 4 People Helped

Helpful to 1 out of 1 people

Thanks! I was thinking about paying off my credit cards and having one payment!

jerskine1's reply was:    

  Jan 04, 2014

jerskine1(1, 1)

Review by jerskine1

1 Contributions 1 People Helped

Thank you! I had an appointment to go in and get this finalized...I WON'T be signing with them.

KyroBlaze789's reply was:    

  Apr 15, 2014

KyroBlaze789(1, 0)

Review by KyroBlaze789

1 Contributions 0 People Helped

Thank you for writing this. I need a large short term loan (~$3,000 for a little over three weeks). I looked on their website after getting this offer in the mail because there is nothing about APR on the mail offer, I could not find any of the information I was looking for on their website. So thank you for saving me from this nightmare :)

ktb89's reply was:    

  Apr 08, 2014

ktb89(2, 0)

Review by ktb89

2 Contributions 0 People Helped

Helpful to 62 out of 63 people

 Please, CreditKarma, REMOVE THIS COMPANY from your list of approved lenders!  They rape and pillage consumers worse than Wall Street!  People would do better to go to a PayDay Loan office than to OneMain Financial.  The product they offer is highway robbery at its worst at extremely high interest rates of 25% and up, and they treat potential customers like dog poop on their shoe.  Everyone working at their office here in Sylmar, CA is a foreigner, and they are the rudest bunch of jerks ever.  PLEASE, PLEASE, PLEASE STOP advertising for them!  It will only reflect badly on CreditKarma to be associated with this nasty, unethical company.  This company richly deserves negative 10 stars, and I regret having to rate even at a one star for worst, but it's the only way I'll be allowed to post.

Dauphine11's review was:    

  Aug 16, 2012 Reply

Dauphine11(3, 64)

Review by Dauphine11

3 Contributions 64 People Helped

Helpful to 8 out of 8 people

I AGREE

Kandle5's reply was:    

  Jan 07, 2013

Kandle5(4, 26)

Review by Kandle5

4 Contributions 26 People Helped

Helpful to 5 out of 5 people

thank you

8free's reply was:    

  Dec 23, 2012

8free(1, 5)

Review by 8free

1 Contributions 5 People Helped

Helpful to 8 out of 9 people

I agree. They are as bad as Credit One. Credit One is "copying" off of the LEGIT Capital One. I've read over 250 complaints against Credit One. They're 100% outsourced, with a language barrier that would stop a convoy of two-three-ton trucks dead in their tracks, lie through their teeth, ruin people's credit history (even those that pay on time complained about Credit One automatically charging them late fees and full balances, contrary to their contracts with the customers; and also have had the audacity to "Cancel/Close" the customer's account...AGAINST the customer's knowledge or request, thus completely ruining their credit rating with the bureaus). go to the website www.ripoffreport.com, and you'll see what I mean. Also, "Google" or "Bing" them (or use any search engine), and you'll see the more-than-laundry list of complaints and negative recommendations.

shadowmaster1's reply was:    

  Aug 05, 2013

shadowmaster1(1, 8)

Review by shadowmaster1

1 Contributions 8 People Helped

Helpful to 3 out of 3 people

Agree!!!!

jrpaulinoh's reply was:    

  Jan 22, 2013

jrpaulinoh(2, 13)

Review by jrpaulinoh

2 Contributions 13 People Helped

I agree, REMOVE REMOVE REMOVE!!

ktb89's reply was:    

  Apr 08, 2014

ktb89(2, 0)

Review by ktb89

2 Contributions 0 People Helped

These people are insane! Helpful to 37 out of 37 people

I get a letter in the mail from them about every 2-3 weeks, which usually ends up in the trash. The other night, my wife and  were discussing taking out a loan to pay off my high interest credit cards. I decided to give this place a call. The first question I asked them was about interest, and they told me they would have to run my credit and see. I have a 735 fico, so I figured this shouldn't be a problem. After almost a half an hour of questions, I was told how much I could borrow and what the monthly payments would be. I asked what the interest rate was, and he went into a speel about how it would save me this much or that much a month. Again I asked him about the interest rate, and he changed the subject. Finally, after threatening to hang up on him, he told me the rate was 35.99. I was like, really? With my decent credit, it's that high? He said thats the rate they charge everyone who doesn't own a home. I was like, why didn't you tell me this when I first asked you a half hour ago??? 

Oct 31, 2012 Reply
Helpful to 33 out of 33 people

Do not do business with these people.They want to give extremely high interest loans to people in trouble.This will not help you consolidate.You are much better off keeping the bills you have it will take you far less time to pay-off.If you try to pay early they want all of the interest too.They tell you to bring a voided check with you because diect deposit is mandatory with them.please people do not deal with these crooked thieves

JENSTREASURES5's review was:    

  Aug 13, 2012 Reply

JENSTREASURES5(1, 33)

Review by JENSTREASURES5

1 Contributions 33 People Helped

Helpful to 18 out of 18 people

I wish I had seen these reviews last month. My first payment came out this month. They didn't tell me I would be paying 35% interest. The loan they talked me into has actually made everything worse. I'm paying $300 a month more and no credit cards are paid off.  I feel like I was blindsided by them; One Main Financial.

Kandle5's reply was:    

  Jan 07, 2013

Kandle5(4, 26)

Review by Kandle5

4 Contributions 26 People Helped

Shame on Me Helpful to 31 out of 31 people

I received the pre-approved flyer in the mail.  My credit was sub par....580...I went in to talk to the lender...He talked the good game.."Taking a personal loan to pay off credit cards will greatly improve your credit."  "There is no penalty for paying off the loan  early".  "You will be at a fixed rate"

I had 6k of cc debt, spread on six cards...19% average interest rate...they offered 22%..I thought...get all payments in one place, improve my credit score..and get the loan paid off early...lets do it

When he was going over all the paper work, he continually said, this will be the total amount paid if you run the term of the loan...pretty similiar to what you hear with a mortgage or auto loan...

I didn't read throughly and just signed.  With the swipe of a pen, my debt went from 6k to 10k.  All of the interest is charged up front.  There is really no motivation to pay off early.  You will not be charged any additional interest to run the term.  Use any extra money to pay off credit that has accured interest

My score did improve, but I feel the lender was very misleading.  Shame on me for not reading and understanding before I signed.  They were VERY misleading and count on you not reading before you sign.

If you deal with these guys..make sure you understand before you sign.

Dec 21, 2012 Reply
Helpful to 3 out of 3 people

Do you realize that your 'balance' is NOT the same as your "PAYOFF" balance? 

I have a loan through them, and I will throw their loan on my US Bank card because I HATE THEM!

BUT, back to your issue, if you call them and ask them what your PAY OFF BALANCE is, they will tell you.  They will give you a number that pays off your loan THAT day and interest UP to that day (even though, for all purposes, it is already listed on your loan).  So, if your loan was $6k (just numbers for example) and they were charging you $2k interest, your total loan (according to their screwed up ways) is $8k.  Let's say you pay $500 the first month and $500 the second month.  You've had the loan for 2 months, and paid $1,000 on it.  If you called them up, and asked them what your pay off would be, they would give you a number somewhere around $5,100 (give or take) because you've only had their money for two months, NOT the entire term.

daemarre's reply was:    

  Apr 01, 2013

daemarre(1, 3)

Review by daemarre

1 Contributions 3 People Helped

Helpful to 1 out of 1 people

Out of curiosity how much did your credit improve, and do you think it was solely due to this?  I'm almost willing to pay 4k to improve mine at this point :( 

loaded1's reply was:    

  Feb 08, 2013

loaded1(1, 1)

Review by loaded1

1 Contributions 1 People Helped

Helpful to 3 out of 5 people

If this is true......Who fault would that be??????

tbdc's reply was:    

  Jan 06, 2013

tbdc(86, 211)

Top Contributor

Review by tbdc

86 Contributions 211 People Helped

Top Contributor

Helpful to 23 out of 24 people

Don't believe the positive reviews I suspect those are absolutely FAKE. This company is a farce....I applied for a loan with them sometime ago 710 REAL FICO score decent income but wanted to consolidate a few major bills. "There isn't anything we can do for you" what a FARCE.

walls74's review was:    

  Jul 28, 2012 Reply

walls74(10, 26)

Top Contributor

Review by walls74

10 Contributions 26 People Helped

Top Contributor

Helpful to 11 out of 11 people

WOW I JUST WANT TO CONSOLIDATE MY CRTEDIT CARDS FOR LOWER INTERST TO PAY OFF' THIS COMPANY WAS RECOMMENDED NOW I HAVE DOUBT TO APPLY TO WASTE TIME THANKS

lyn519's reply was:    

  Aug 12, 2012

lyn519(1, 11)

Review by lyn519

1 Contributions 11 People Helped

Helpful to 9 out of 9 people

It is probably because they would not make enough money off of you.

IMDVLISH's reply was:    

  Aug 21, 2012

IMDVLISH(2, 9)

Review by IMDVLISH

2 Contributions 9 People Helped

Helpful to 3 out of 6 people

Not true.... I am rebuilding my credit this is my third loan. I don't know what people expect when they are HIGH RISK. High interest or not at least they are giving you a chance to start over. I just have always paid my bill on time and I have NEVER received a phone call. I guess it's because I'm living up to my end of the Bargin.

tbdc's reply was:    

  Jan 06, 2013

tbdc(86, 211)

Top Contributor

Review by tbdc

86 Contributions 211 People Helped

Top Contributor

BUYER BEWARE and WARNED Helpful to 14 out of 14 people

I have a very unique experience which I will get in to shortly

First Pros and Cons:

Pros

-          If you need a loan and you understand what you are signing up for, you are getting exactly what you expect

-          The loan is legitimate and they do not frontload the interest as I have seen in other posts

-          If your credit is less than stellar, and you are in need of cash, this place may be one of the few options you have

Cons

-          High interest rates, daily applied and low payments over a long period is very predatory, let me explain:

let's say your loan payment is 200 per months for 60 months at 25% interest, that payment is likely 175 interest and 25 principal at the outset of the loan - choose to pay more than the minimum and don't miss even one payment. let's say you miss one payment , 175 interest tacked on, your next 7 payments will be all interest payments, 25 per month for 7 months to make up for the 175 you lost on one payment. They are praying you miss one payment.

-          Customer service is abysmal; associates and branch managers posture way too much and don't know good customer service. They realize that people that come to them for loans are fairly desperate so they think they can act and speak to the customers in a contrite manner, it was a terrible experience.

-          The application process is not easy nor short. I was in the office for an 90 minutes waiting on everything, their process is far from streamlined.

-          You cannot cancel an auto payment via the web but you can sure as hell set one up.

-          No easy way to escalate issues to corporate, the branch members are not willing to help in fear it will reflect badly on them.

-          I went to the riverbank, CA branch – I warned you.

Here is my unique situation:

I was approached for a loan increase around the holidays, turns out they had the wrong file, the first two letters of our last name were the same the last three were different, it sounded the same but spelled different. I didn't receive the new loan (thank goodness) but during this process they withheld a payment while the loan was processing (or not processing as it were)

I made a double payment the next month, but they still tacked on the extra interest on their mistake. Now I brought this to their attention and they refused to do anything about it, I escalated to the branch manager and was told I shouldn't have applied for a new loan, I knew the consequences. I asked for a regional director contact and left numerous messages with no call backs. I basically made 6 payments of interest only.

I will never deal with the company again and let everyone know that I can about the predatory practices of this company. I paid off my loan, scraped it up by any means to get out of that hell hole.

I do not recommend this company with any ounce of my being but I understand binds that people get in to and if you choose to move forward with them here are my suggestions:

-          Reduce the months on the loan if possible

-          Make overpayments regularly, just factor it in when you are calculating the interest, there are plenty of amortization calculators on the web

-          NEVER miss a payment!!!!

-          NEVER EVER take a deferment, it is the same as missing a payment, the interest compounds!!!

-          Never re-write the loan for a new amount!!!

-          Pay it off as soon as you are able, this is not a long term instrument, it is a short term emergency, I have nowhere else to go type of loan

javisman's review was:    

  May 17, 2013 Reply

javisman(2, 15)

Review by javisman

2 Contributions 15 People Helped

Helpful to 12 out of 12 people

 I am amazed that Credit Karma uses companies that charge such sky-high interest rates. I am doing far better on my own that I would be were I to get a personal consolidation loan through any of the CK approved companies.  To those of you paying down your debt, just keep plugging away at it. You're better off on your own. Slow but steady. Hang in there. LJ

lj12345's review was:    

  Jul 21, 2012 Reply

lj12345(1, 12)

Review by lj12345

1 Contributions 12 People Helped

Helpful to 6 out of 6 people

Hi Thanks for the encouragement. I too am trying to pay down mu credit cards.Will defiantly take heed to your advice.I was going to apply to them for a loan but reading these reviews HECK NO!

Good luck to you as well.CLS

nytoaz's reply was:    

  Aug 07, 2012

nytoaz(1, 6)

Review by nytoaz

1 Contributions 6 People Helped

Helpful to 11 out of 11 people

BEWARE!! Do not do business with them...I recieved a loan from their Deerfield Beach/Fort Lauderdale office...They are Modern Day Loan Sharks!!!  Tim the manager and his team are completely incompetent! Do Not Do Business with Them!! They will take you for all you are worth!!!

Aug 30, 2012 Reply
Helpful to 5 out of 7 people

It's called reverse redlining and/or taking advantage of financially illiterate people - if the comments here are true there are plenty of Reg Z and Fair Lending issues at hand. Agree or disagree with the marketing of the service or the value they provide to certain people many of the tactics used are just illegal.

achmedshatz's reply was:    

  Oct 10, 2012

achmedshatz(5, 26)

Review by achmedshatz

5 Contributions 26 People Helped

Helpful to 6 out of 9 people

Wow you sound like one of their employees. I would gues I'm 100% correct in my assessment too. Nice try, OneMain Financial Personal Loans employee.

Kroder's reply was:    

  Oct 01, 2012

Kroder(5, 14)

Review by Kroder

5 Contributions 14 People Helped

Helpful to 3 out of 11 people

You knew the terms going in, just say "no thank you".  If you are stupid enough to accept the terms and feel ripped off, then you are stupid.  Of course if you can't get a loan anywhere else (which they are pretty open to giving unsecured loans to people with bad credit), then you should be grateful that there is a company willing to do that, even if it's at a higher interest rate.  

bluecamel20's reply was:    

  Sep 03, 2012

bluecamel20(30, 346)

Top Contributor

Review by bluecamel20

30 Contributions 346 People Helped

Top Contributor

Helpful to 0 out of 2 people

Whether or not he is a One Main Financial employee he speaks the truth.  I am not an employee just a former customer

monahltx's reply was:    

  Oct 12, 2012

monahltx(2, 2)

Review by monahltx

2 Contributions 2 People Helped

Worse company ever Helpful to 7 out of 7 people

I contacted this company to get a loan. I got approved for $7100. I was going to payoff all debt. My car is almost paid off, my credit cards are almost paid off. This company was going to "payoff" all my debt, the payment was going to be $300 for 60 months. At the end of the loan I was going to pay $15000, that is paying my car 3 times and credit cards like 20 times. I told them I didn't wanted to get the loan, because it was abusive and advantageous. I later got a letter denying my loan because of my credit. I wrote them a letter telling them off. This is the worse company ever, well Westlake Financial too.

Aug 26, 2013 Reply
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Company Overview

OneMain Financial’s personalized loan solutions offer consumers a simple and straightforward loan application, fixed rates, fixed payments, clear terms and multiple payment options.

With roots in lending that date back to 1912, OneMain Financial provides personal loans with one-on-one, local service at branches nationwide.

Company Details

OneMain Financial

  • Established: 1912
  • Headquarters: Baltimore, Maryland
  • Website: www.onemainfinancial.com
  • Products: Personal Loans
  • Assets: N/A
  • Available: Online, by phone, in branches; select states

Rating Distribution (261)

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