Frequently Asked Questions

OneMain Financial works with borrowers across a wide credit spectrum. Unlike traditional banks that require excellent credit, we look at your complete financial picture including your income, employment history, and overall financial situation. Many customers with limited or challenged credit have successfully obtained loans with us. The best way to find out if you qualify is to check your pre-qualification, which won't impact your credit score.

Many customers receive their funds the same day after approval and signing loan documents. The exact timing depends on when you complete the application process and your bank's processing times. If you apply and are approved early in the day, same-day funding is often possible. Otherwise, you can typically expect to receive funds within 1-2 business days.

You have options! You can apply completely online through our website, call us to apply by phone, or visit one of our 1,300+ branch locations to apply in person. Many customers prefer the convenience of applying online, but if you'd like face-to-face service, our branch staff are happy to help you through the process.

You'll typically need: (1) Proof of identity (driver's license, passport, or state ID), (2) Proof of residence (utility bill, lease, or mortgage statement), and (3) Proof of income (pay stubs, tax returns, or bank statements). If you're applying for a secured loan, you'll also need your vehicle title. Most documents can be uploaded electronically, making the process quick and easy.

Yes! Self-employed individuals can qualify for Online Loans. You'll need to provide documentation of your income, which may include tax returns, bank statements, or profit and loss statements. We understand that self-employed income can vary, and we'll work with you to verify your ability to repay the loan.

Yes, we offer the option to add a co-borrower to your loan application. Adding a co-borrower with stable income and good credit may improve your chances of approval or help you qualify for better terms. Both borrowers will be equally responsible for repaying the loan.

No! Checking if you pre-qualify uses a soft credit inquiry that will not impact your credit score. Only when you formally apply and accept a loan offer will we perform a hard credit inquiry, which may have a temporary minor impact on your score.

Many customers receive an approval decision within a few hours, and some as quickly as minutes. If we need additional documentation or verification, it may take up to 24 hours for a final decision. Once approved, you can typically receive your funds the same day.

If your application is not approved, we'll send you a letter explaining the reasons. You can contact us to discuss your options, and we may be able to suggest steps you can take to improve your chances in the future, such as building your credit score or reducing your debt-to-income ratio.

Yes! You can choose to receive your funds via direct deposit to your bank account (fastest option), paper check mailed to your address, or in some cases, pick up funds at a branch location. Direct deposit is usually the quickest method, often available the same day.

After approval, you'll review and sign your loan agreement, which includes all the terms, rates, and fees. Once signed, we'll process your loan and send your funds according to your chosen method. You'll receive information about how to make payments and access your account online.

Our Annual Percentage Rates (APR) typically range from 18% to 35.99%, depending on your credit profile, loan amount, term, state of residence, and whether you choose a secured or unsecured loan. Your personalized rate will be provided when you check your pre-qualification or receive a loan offer.

Absolutely not! We never charge prepayment penalties. You can pay off your loan early at any time without any fees, which can save you money on interest charges. We actually encourage customers to pay off their loans early if their financial situation allows.

All fees are disclosed upfront in your loan agreement. Depending on your state and loan type, there may be an origination fee. There are no application fees, annual fees, or prepayment penalties. If a payment is late or returned by your bank, applicable fees will be charged as outlined in your loan agreement.

Many lenders advertise their lowest possible rates, which are only available to borrowers with excellent credit. OneMain Financial specializes in working with borrowers across all credit types, including those who may not qualify at traditional banks. While rates may be higher, we provide access to credit when other lenders say no, and we never charge prepayment penalties if you want to pay off your loan early.

Yes, secured loans (backed by collateral such as your vehicle) typically have lower interest rates than unsecured loans because they present less risk to the lender. If you own a vehicle free and clear or with significant equity, a secured loan might help you qualify for a better rate.

You have several payment options: (1) Online through your account, (2) Automatic payments from your bank account, (3) Phone payment by calling customer service, (4) Mail a check or money order, (5) In-person at any branch, or (6) Cash payment using PayNearMe at participating retailers like CVS, 7-Eleven, and Walmart. Choose the method that's most convenient for you!

Your payment due date is specified in your loan agreement and is typically the same day each month. You can find your exact due date by logging into your online account or calling customer service. We recommend setting up automatic payments or payment reminders to ensure you never miss a due date.

In some cases, yes. Contact our customer service team to discuss your situation. We understand that circumstances change, and we may be able to adjust your payment date to better align with your pay schedule. Keep in mind that changing your due date may affect your loan terms.

If you miss a payment, late fees may apply as outlined in your loan agreement, and it could impact your credit score. More importantly, contact us immediately if you're having trouble making a payment. We may be able to work with you to find a solution before you fall behind. The sooner you reach out, the more options we have to help.

Absolutely! You can make extra payments toward your principal at any time without penalty. This can help you pay off your loan faster and save money on interest. When making an extra payment, specify that you want it applied to the principal to maximize your savings.

You can set up automatic payments (AutoPay) through your online account or by calling customer service. AutoPay ensures you never miss a payment and can give you peace of mind. Just make sure you have sufficient funds in your account on your due date each month.

You can access your account by logging in at onemainfinancialfi-247.com or through the OneMain mobile app. If you haven't created an online account yet, you can register using your loan account number and personal information. Online access allows you to view your balance, make payments, and manage your account 24/7.

Yes! You can access your loan documents, statements, and payment history through your online account. This includes your original loan agreement, monthly statements, and tax documents. Going paperless is convenient and helps the environment.

You can update your address, phone number, and email address through your online account, by calling customer service, or by visiting a branch. It's important to keep your contact information current so we can reach you with important account updates.

Yes! We use bank-level encryption and security measures to protect your personal and financial information. We recommend using a strong, unique password and never sharing your login credentials. Enable two-factor authentication if available for an extra layer of security.

Yes! We report your payment history to the major credit bureaus (Experian, Equifax, and TransUnion). Making on-time payments can help you build positive credit history and potentially improve your credit score over time. This is one of the benefits of responsible borrowing and repayment.

Yes! OneMain Financial customers receive free monthly credit score updates. This helps you track your credit progress and understand how your loan payments are impacting your credit profile. You can access your credit score through your online account.

We report to all three major credit bureaus: Experian, Equifax, and TransUnion. This means your positive payment history will be reflected across all three credit reports, maximizing the benefit to your credit profile.

You can use your personal loan for many purposes including debt consolidation, home improvements, auto repairs, medical expenses, major purchases, and other important financial needs. We don't restrict how you use your loan funds, giving you the flexibility to address your specific situation.

A secured loan requires collateral (typically your vehicle) and generally has lower interest rates. An unsecured loan doesn't require collateral but may have higher rates. Your loan specialist can help you understand which option is best for your situation based on your needs and what assets you have available.

Possibly! If you've made on-time payments and have sufficient income, you may be eligible for an additional loan or to refinance your existing loan. Contact us to discuss your options. Many customers have successfully obtained multiple loans with us over time.

We offer optional insurance products including credit life insurance, disability protection, involuntary unemployment coverage, and GAP coverage for secured loans. These are completely optional - purchasing insurance never affects your loan approval, and you can cancel at any time for a refund according to the terms.

OneMain Financial has been serving customers since 1912 - that's over 110 years! Our long history demonstrates our stability, experience, and commitment to responsible lending. We've helped millions of customers achieve their financial goals across multiple generations.

We have over 1,300 branch locations across 47 states. You can find the nearest branch by using our branch locator on our website or by calling customer service. Many customers appreciate the convenience of having local branches where they can meet with loan specialists in person.