OneMain Financial Personal Loans Review (2026)

Our take on OneMain Financial

OneMain Financial is one of few lenders that offers personal loans to borrowers with bad credit — a FICO score below 580. But it also has another perk if you have bad credit. On average, OneMain approved higher loan amounts for borrowers with sub-580 credit scores than other Credible lending partners. 

Despite its accessibility and relatively large loan amounts for bad-credit borrowers, OneMain shares some of the drawbacks typical of bad-credit lenders, such as high interest rates and fees. This review will cover both the pros and cons and help you decide whether you should consider this or another lender.

Who or what is OneMain Financial best for?

• Relatively low rates for bad credit: Interest rates on OneMain loans closed through the Credible marketplace were just below 30% APR, on average — lower than other bad credit partner lenders Reprise (30.73%) and Avant (32.20%). 
• Relatively large loan amounts for bad credit: Although the maximum loan amounts available from many Credible lending partners are higher than OneMain's, 12 months of loan data show the difference between what's available and what's approved. Among borrowers with credit scores below 580, the average loan amount from OneMain was much higher than competitor Reprise, and on par with Avant. 
• Bad-credit borrowers with cosigners, collateral, or modest incomes: In addition to having no minimum credit score or income requirement (when you apply directly with OneMain), the lender allows cosigners and secured loans. These features can also help borrowers with sub-580 credit scores qualify. 

Learn More: Best Low-Income Personal Loans

Who is OneMain not best for?

• Borrowers with good credit: OneMain personal loans are generally not best for borrowers with anything better than fair credit. If your FICO credit score is above 670, you'll likely find lower rates elsewhere. If you have very good credit, you should probably avoid OneMain altogether.

Pros and cons

Details on the pros 

• Bad-credit loans available: OneMain specializes in loans for borrowers with bad credit, with no minimum credit score requirement, as well as no minimum income requirement. To qualify for a OneMain loan through Credible, it’s recommended that you earn at least $10,000 annually.
• Low rates relative to other bad credit lenders: OneMain's rates for borrowers with bad credit were lower, on average, than other bad-credit lenders like Avant and Reprise (average 29.62% on loans through Credible). 
• Secured and cosigned loans: Securing a loan with an asset, such as a car or a house, or using a cosigner could make it easier to qualify. Still, remember that secured loans are risky for you (you could use your collateral if you default) and cosigned loans are risky for your cosigner (they're responsible for repayment if you default, and their score could be damaged if you make late payments).
• Physical branches: If you prefer in-person customer service, OneMain has more than 1,300 branch locations in more than 40 states.

Details on the cons

• High starting APR (and high rates in general): OneMain's starting APR puts it at a disadvantage against many other personal loan lenders, though is typical for lenders focusing on subprime loans. 
• Origination fees: Depending on the state where you live, OneMain may charge origination fees as flat fees or a percentage of your loan amount. Flat fees vary by state ($25 to $500). Percentage-based fees also vary by state (1% to 10%).
• Not available nationwide: OneMain Financial personal loans aren't available in Alaska, Arkansas, Connecticut, Kentucky, Massachusetts, Rhode Island, and Vermont.

How to qualify for a OneMain Financial personal loan

OneMain considers eligibility criteria, including:

• Credit score and financial history: While OneMain Financial doesn’t have a minimum credit score requirement when you apply directly, your credit and financial history will be considered. This includes reviewing how many loans and credit cards you have, how much you owe, if you pay your bills on time, and how long you’ve been managing credit. The company will also consider whether you have filed for bankruptcy, and if so, how you’ve handled your credit since. 
• Income and employment: You’ll need to have enough income to qualify for the loan you’re applying for. There is no minimum income requirement, though it’s recommended that you make $10,000 per year or more. The main concern is that you have the ability to repay the loan. When you prequalify, you’ll be asked what type of employment you have, whether you’re employed, self-employed, retired, or have another income source. 
• Value of collateral: If you applied for a secured loan, the lender needs to evaluate your collateral to determine if its value is sufficient to support the loan. Also, if you’re using a car as collateral, it needs to be no older than 10 years to qualify for a “larger” OneMain loan. (OneMain doesn’t indicate how large “larger” is.)
• State of residence: Your state may affect what loan terms you qualify for. Some states have minimum and maximum loan amounts.

OneMain Financial personal loan purposes

Acceptable uses for a OneMain personal loan include:

• Debt consolidation
• Emergencies
• Home improvement
• Medical expenses
• Auto purchases and refinancing
• Auto repair
• Moving
• Wedding
• Pools
• Vacation
• Motorcycle, RV, or boat
• Funeral
• IVF services

Personal loans cannot be used for post-secondary school expenses, business or commercial purposes, or to purchase cryptocurrency assets. 

OneMain Financial fees and penalties

• Loan origination fees: Origination fees are different for each loan application with OneMain Financial. The kind of fee you're charged and the size of the fee depend on the state where you live. They can range from 1% to 10% of the loan amount or a flat fee between $25 and $500. 
• Late fees: OneMain Financial charges late fees when a payment hasn’t been made by the end of the grace period. It’s not the same for each loan. Fees are subject to state limits, but can range between $5 and $30 per late payment or a percentage of the late payment between 1.5% and 15%.
• Government fees: If there are any fees your state or county government charges for adding OneMain as a lienholder on collateral used for a secured loan, you are responsible for them. 
• Insufficient funds fees: An insufficient funds fee ranges from $10 to $50 if an electronic check or ACH transaction is returned.

OneMain Financial vs. other lenders

OneMain Financial company details and history

OneMain Financial specializes in lending to non-prime borrowers, with products including personal loans and credit cards. Originally founded as a company called Commercial Credit, OneMain's roots in the financial services industry date back to 1912. It has served more than 18 million customers since 2006. 

Headquartered in Evansville, Indiana, OneMain Financial has over 1,300 branches and does business in 47 states. 

Contact information

OneMain Financial has in-person branches as well as multiple ways to contact customer service:

• Phone: 833-390-2053, 8 a.m. to 9 p.m. ET Monday through Friday and 9 a.m. to 6 p.m. ET Saturday
• Email: [email protected] 

You can also fill out a contact form on the OneMain Financial website or use the branch locator tool to find a branch near you. Alternatively, you can check the online help center for answers to common questions.

Methodology

Credible evaluated 32 lenders across 1,184 data points to choose the best lender overall plus top picks for different borrowers and use cases. Across lenders, we collected data on customer experience and service options, minimum and maximum fixed interest rates, minimum and maximum loan amounts, funding times, loan terms, fees, discounts, third-party reviews, and more.

We assigned a score to each attribute based on how that feature compared with the same feature for every other lender in the set. Scores were weighted according to their relative importance — for instance, maximum origination fee scores received a high weight since loan cost is among the most important factors in determining loan value. Individual attribute scores were then added to determine each lender's overall star rating. 

Attributes were grouped into categories; each category contributed to lender scores as follows: 

• Borrower cost (22.5%): Origination fee ranges and minimum and maximum APRs measure upfront and overall costs and lender accessibility across credit score groups.
• Flexibility (22.5%): Maximum loan terms, number of loan purposes, minimum and maximum loan amounts, and availability of joint and secured loans measure the range of options for loan size, repayment terms, and loan types.
• Eligibility and availability (22.5%): Minimum income requirements, funding speed, minimum credit score requirements, and state availability measure how easily and how quickly borrowers can access personal loans.
• Reputation (15%): Trustpilot, Better Business Bureau, and J.D. Power ratings measure customer satisfaction.
• Discounts, customer service, and account management (12.5%): Discounts for autopay and direct pay, plus availability of mobile apps and live customer support chat, measure borrower perks and ease of loan management.
• Partner lender data (5%): Data from loans closed by our partners, including average rates, loan amounts, funding time, and eligibility criteria, measure real-world performance and borrower outcomes.

Non-partner lenders were evaluated based on the same criteria but not assigned star ratings. Learn more about how Credible rates lenders by exploring our full personal loans lender rating methodology.