Oportun Review

Oportun company provides financial services to people who cannot apply with traditional banks and credit unions. They give persons with little to no credit history independent access to personal loans and support services.

The focus of our Oportun review is to provide the reader with the latest information and highlight the most crucial features of the service. This overview gives an in-depth analysis of Oportun’s loan features.

In our Oportun app review, we have been taking into account customer feedback as well. After reading this review of Oportun, you will have all the information you need to decide if this is the best personal loan online application for you.

Oportun Review

Pros and Cons of Oportun

Oportun provides personal loans to people with little or no credit history using data analytics and technology. This is the main benefit primarily for those who have some problems with their credit score. Let’s have a closer look at further advantages and disadvantages.


  • Preapproval that is combined with a soft credit check
  • You can receive money right away
  • There are no strict requirements for necessary income level or credit history
  • Small amounts of loans starting at $300 at any state


  • No opportunity to alter the payment dates
  • High APR compared to other services
  • Reports to two out of the three credit bureaus

What is Oportun?

Oportun is a San Carlos, California-based direct lender. They work with clients that don’t have enough experience in the financial industry. It was once known as Progreso Financiero until changing its name to Oportun. Generally, it is the Spanish term for “opportunity,” which resembles the main aim of the service.

Oportun provides personal loans to customers with poor credit rates. As a result, interest rates may be higher than the suggested ceiling of 36 percent. Before borrowing, check to have a repayment strategy in place and to be aware of the whole cost of your loan.

How does Oportun Work?

Oportun claims it does not require a credit score for a minimum deposit. It inspects your bank account and how much money you have left each month. Please note that consumers with bad credit scores are not eligible for this loan.

The service provider will take your credit score into account while evaluating your application if you have one. In some areas, borrowers may use a car to secure the loan on their bank accounts instead of adding a co-signer to their application.

Any of these might improve your application’s chances of checking your account. Alternatively, it might result in reduced interest charges.

Remember that if you don’t make payments, each choice has penalties, e.g., costly overdraft fees. If you add a co-signer, that individual will be responsible for your expenses. If you default on a secured loan, the lender may repossess your automobile.

The procedure to apply for an Opportunity direct deposit is as follows:

  • Enter your ZIP code in the “Get Started” form there. Select “Go”.
  • As a next step, you may decide whether to apply for direct deposits or over the phone.
  • Verify your ZIP code if you use it online before proceeding to the preapproval stage.
  • Following that, you must enter primary data (name, linked bank account, birthdate, and email address).
  • To proceed with the application, please wait until your pre-qualification check is completed. When it’s finished, double-check that all the information about your bank account or debit card is accurate.

Features & Services of Oportun

In 34 states, Oportun is a lender that provides financial products through unsecured and secured personal loans. It grants smaller loans, ranging from $300 to $10,000. The target clients are those with less-than-perfect credit history.

Applications for personal loans may be accepted or rejected depending on various reasons. While each lender has underwriting terms and conditions, they frequently include details from an applicant’s credit history.

Additionally, they touch upon other elements that show the borrower’s capacity to receive funds and repay the loan. Although fulfilling the standards won’t ensure approval, doing so will help you determine whether the company’s products and services are the appropriate choices for you.

Numerous personal costs, such as the following, can be covered through personal loans.

  • Auto repair
  • Medical expenses
  • Major purchases
  • Home enhancements
  • Consolidation of debt
  • Debts to family members or friends
  • Holidays or marriages

There are often certain use limitations on personal loans. Such financial products cannot be utilized, for instance, for costs associated with a business or school.

Unlike many other personal loans, secured personal loans need collateral. A secured personal loan may be more straightforward to be accepted, mainly if your credit score is poor.

Oportun loans presuppose weekly payments rather than monthly ones. The loan terms are determined by your loan balance and APR, which differs from loan to loan.

They are constant across the loan duration and don’t have distinct phases for personal loans. Opportun personal loans specialize mainly in short-term loans ranging from 9 to 49 months.

Oportun offers a web-based application procedure. An online account can check the payments and track upcoming fees. In addition, you may apply for the loan in person at a Walmart, PayNearMe, MoneyGram, or 7-Eleven.

If qualifying for the loan online appeals more to you, you can do it using a debit card, through your bank account, or even with a check.

You must reside in one of the states where Oportun or MetaBank issues loans to be eligible for the advance feature. Only a brief preapproval is required before taking the loan.

The entire approval can take up to 10 minutes. Oportun is, without a doubt, one of the quickest choices for additional budgeting. Here, you may get the money within 24 hours of approval.

Oportun Fees & Rates

Oportun offers unsecured installment loans without a monthly fee to its clients. They range in price from $300 to $10,000. Customers don’t need to pay the loan every month. They can do it every week as well. Please be aware that only regular clients are eligible for the more enormous loan alternatives.

These are the customers who have previously borrowed money from Oportun. The service will evaluate your credit history if you have one. It claims that even after filing for bankruptcy, you could still be eligible to obtain a loan without a membership fee.

Oportun loans have interest rates ranging from 12% to 36% APR. Your financial condition and the state in which you reside will determine this.

Your annual percentage rate will include an origination charge or a tax stamp fee. This depends on your state as well. This charge for each loan ranges from $0 to $300.

Additionally, the loan’s length varies from 6 to 46 months. The company doesn’t charge prepayment penalties or overdraft fees.

Oportun loans have additional fees for late repayment. You must pay a penalty of $10 or 5% of the payment total, whichever cost is smaller if it is over 10 days overdue. There is a $75 administrative charge if you borrow over $5,000.

You must pay a $15 returned payment fee if your bank returns your payment, for example, if you overdraw your account without turning on overdraft protection. Generally, monthly expenses for Oportun service are a bit higher than similar loans from competitors.

Safety and Security of Oportun

The company’s privacy and security policies didn’t raise any red flags for us. Oportun exclusively gathers data needed to fulfill regulatory obligations, provide tailored services, and market its products and services.

Your information could also be used for accredited promotional purposes, targeted digital advertising, or standard website traffic statistics. The good news is that by selecting the “Privacy Settings” link at the bottom of their website, you may choose not to participate in this.

There is no evidence to suggest that they exchange sensitive customer information with other outside providers. There don’t seem to be any additional suspicious measures since the website is secure. It is protected with an SSL certificate.

Other Oportun evaluations did not identify any security-related problems either. On its website, the corporation posts the terms and conditions for its products. Customer service is always available to answer questions about clear-cut money guidelines.

Is Oportun Legit?

Oportun has been recognized by the BBB since 2016. As for now, it has an A+ rating. They have a 2.5/5 customer review rating on BBB, with 90 customer complaints. It is worth mentioning that all of them have been successfully resolved in the previous three years.

The service provider has received 158 complaints from the Consumer Financial Protection Bureau. 34 were about debt collection, while 66 were about personal loans. Oportun, however, appears to have handled most of these issues.

The corporation’s difficulties in July 2020 may be to blame for the lack of Oportun reviews. Due to its harsh debt collection tactics, the firm came under intense criticism.

There were some issues with their litigation strategies as well, which coincided with the COVID-19 pandemic situation. They have subsequently drastically changed their methods to help people who are struggling, nevertheless.

Oportun Platform Supported

Unfortunately, there isn’t any smartphone app for the Oportun loan services. This means there is no particular mobile application for iOS or Android yet.

You can do all the necessary operations in the full browser version. You can access it from your laptop, PC, tablet, or other mobile devices.

Additionally, by logging into your Oportun customer account on the desktop version of the official website, you may manage your card online.

The services and fees will be tracked on your iPhone, Samsung, or another device in your account. You may use your Oportun Credit Card online login, among other things, to:

  • Pay your monthly bills
  • View the specifics of the statements and transactions
  • View the balance on your credit card

If you can’t remember your login details, please click the button “Forgot password” on the Oportun login screen. After that, comply with the instructions to reset or retrieve your login or password.

Customer Service at Oportun

Oportun may be reached at 866-488-6090 Monday through Friday. Their operating hours are from 8 a.m. to 8 p.m. PT. On Saturday and Sunday, the service center is available from 9 a.m. to 7 p.m. PT.

If you have already called the hotline but haven’t received the necessary information, you may send a mail. The issues can be addressed at [email protected]. Customers with questions about their loan amount or next payment should text 650-425-3419.

According to the information on the Oportun website, their excellent Net Promoter Score has been averaging over 80 since 2016. As a result, their customer service has generated exceptional client satisfaction and loyalty. Compared to other financial services organizations, Oportun’s NPS positions them among the top consumer companies.

For Which Needs Oportun Fits the Best?

If you have little to no credit history bills and don’t want to fall for predatory payday loan-style scams, you should think about Oportun loans. Borrowers with lower-than-average credit scores may qualify for the wished loan as well.

According to the situation, Oportun may postpone payments for borrowers having difficulties with their income. It may rewrite the loan to reduce the interest rate, cut the monthly payments, and lengthen the refinance period.

As per their rules, customers are eligible for the short-term hardship program.

For those with poor credit history who urgently want a loan, e.g., for rent and utility, Oportun is the ideal option. It offers a low minimal paycheck because it is a payday loan substitute. It costs only $300. Although it is not the most affordable lender, it is considerably less expensive than conventional payday loan companies.

What are Apps Like Oportun?

The competitor market includes the following alternatives for borrowers.

Oportun Edwards Avant Loans Lending Point
Amount $300 to $10,000 $500 to $35,000 $2,000-$35,000 $2,000-$36,500
APR 12%-36% 8.99% to 17.99% 9.95%-35.95% 7.99%-35.99%
Loan term 9 to 49 months up to 60 months up to 60 months 24 to 48 months

Avant provides bigger personal loans of up to $35,000 with more extended periods of up to 60 months in contrast to Oportun. Additionally, you can get APRs that are usually cheaper. They are as low as 9.9%. LendingPoint has the same features for clients with poor credit history.

It is prepared to consider those customers with low credit ratings, much like Oportun. It’s a terrific choice for quick personal loans as well. The funds are made accessible in just one business day. Between $500 and $35,000, Edwards offers small and big personal loans. They have a tempting annual percentage rate.

The Review Process

As part of our Oportun review process, we went through the whole loan application process. The aim was to demonstrate to the readers what to anticipate, which requirements are needed from you, and how long the procedure typically takes.

We evaluated Oportun based on fees, eligibility, accessibility, customer experience, and application procedure. While conducting the research for our Oportun review, we discovered that this firm applies just a few strict criteria for borrowers of personal loans. They are as follows:

  • The age starts from 18 years
  • People with specific visas, as well as US citizens and residents. Non-residents may apply to a different, US-incorporated organization. It is one of the few lending companies that will work with non-citizens and non-residents.
  • A credit score is not essential. There is no minimum score required.
  • There is no need to have a certain income level.
  • You may apply even without having any credit history. The company aims to rebuild or create history from scratch for all its clients.
  • The needed documents are an ID, such as a passport, driver’s license, non-US ID card, consular ID card, proof of income, address, and four referrals.

Is Oportun Worth it?

According to Opportun customer reviews and our research, the company’s flexible eligibility conditions are the primary benefit of applying for a personal loan there.

Anyone may get rapid cash, thanks to Oportun. Even non-US nationals and locals with no credit history or low credit ratings are allowed to qualify for the loan.

It won’t take long to apply for a loan. The customers should get the money within one business day. You may obtain a secured loan using your automobile as collateral or recruit a co-signer.

This is recommended if you need more negotiating power or want to lower your interest rates. Loss of a home or employment, a medical emergency, or a natural disaster are a few situations that may promote qualifying for a particular hardship program.

With Oportun, the borrowers can handle almost any situation that arises. According to the feedback, most clients are pleased with their first purchase.

To ensure the highest level of transparency and to help you understand the basis of our evaluations, we invite you to explore our detailed review methodology


Oportun doesn’t provide an option of linking to chime. This may be a drawback for some customers. However, the decision-makers can change this situation. Keep up with the latest news and check the website to be updated.

Experian and TransUnion are the two major credit agencies to which Oportun reports their payments. Generally, there are credit bureaus, where Equifax is the third. Reporting to all three institutions guarantees that lenders will be able to observe good credit behavior.

The business permits several loans. But it depends on your circumstances. You might be able to refinance an existing loan you have with Oportun.

The credit score criteria for Oportun are renowned for being extremely flexible. Oportun loans often accept applicants with credit scores between 300 and 700. It will also approve those with no credit history.

With the help of Oportun’s prequalification application, you may learn if you might be eligible for a loan. Additionally, you may check how much you might be able to borrow. Oportun runs a soft credit check that has no impact on your credit ratings.

Gabriel Manjarrez and James Gutierrez are the founders of Oportun. They are honored for their contributions to community access to financial services at reasonable prices. With its corporate headquarters in San Carlos, California, Oportun was established in 2005. It was founded to aid Latino immigrants in establishing credit. With this assistance, they were able to fulfill the American Dream.

A financial organization Oportun, collaborates with MetaBank, N.A. This is a national bank that offers responsible personal loans at cheap rates, with a maximum APR of 36%. Consumers all throughout the country can use the services.

Yes, you can. One great approach to reducing interest costs is to make additional payments and pay off your personal loan early. With Oportun, you may pay off your loan earlier without being penalized for doing so.

The typical turnaround time for an Oportun personal loan is 1 to 2 business days. That covers the length of time it takes to receive permission. Additionally, it includes the length of time it takes for the cash to be delivered once approval has been granted.

The period of 1 to 2 business days is enough for Oportun to check your documents. During this period of time, they validate your personal data and even manage to pay you the deposit.

You may apply for loans in person, over the phone, or online. If you’re accepted, you can get the money right away. Just bear in mind that your bank will choose the precise timing.

Oportun has a low minimum borrowing amount. It is $300. The maximum sum that you can get from the service is $10,000.

The business informs the credit bureaus when you miss a loan payment. Your credit score might be harmed by this. One of the most crucial components in determining your credit score is making payments on time. The worst-case scenario involves suing the borrower.

The service center is working Monday to Sunday. On weekdays, they are available from 8 a.m. to 8 p.m. PT. On the weekend, they can be reached from 9 a.m. to 7 p.m. PT.