Oportun Review 2022

oportun review

Taking out a loan has become a problem these days. You must check your details and wait months, sometimes years, for the loan commitment. Fortunately, you can turn to trustful companies like Oportun.

Need Money Fast?

Fill the application below and get money instantly.

As the official review of Oportun states, it was launched in 2005. Initially, the Oportun company aimed to provide financial services to those who couldn’t apply to a leading bank or credit union. The online application offers private loans, support programs, etc., for people with a small credit history or relatively low credit scores.

This Oportun review provides a comprehensive introduction to Oportun independent personal loans, taking into account an Oportun app review from other users. It also gives all the facts you need to determine if this is the right option.

Pros and Cons of Oportun

We focus not only on the company’s benefits, as it provides the viewer with objective information about the render. Here we present its advantages and disadvantages.


How Oportun Works?

A credit rating is usually required for a loan of 300 to 700 points. However, a borrower without a credit history on their bank accounts is considered by the lender too. The minimum deposit is $300. In particular, the amount available depends on many factors. It can be determined in many ways, including the state you live in, your credit history (if any), and previous direct deposit loans with the same provider.

Oportun offers cheap loans on your bank account with fixed rates from 7 to 35 months. In addition, there are no hidden costly overdraft fees or changes to the established payment amount. You can also pay more than you usually pay or pay in advance. 

By adjusting the payment period to the pick-up date, the procedure has become easier. The best thing is that you can constantly improve your creditworthiness of the existing bank account by making timely payments and taking out more deposit loans with a low effective annual interest rate.

Oportun doesn’t require a proven credit history from a linked bank account, as it checks certain financial conditions of the clients and determines the result. You also don’t need to provide debit card collateral when applying for a loan.

The service provider procedure is very simple and can be divided into three important steps: “Start application,” “Submit documents,” and “Wait for loan approval.” 

Oportun Features

Now let’s look at common loan types and their features.

Private Loans

They can be used to pay for a variety of personal expenses, including:

These loans usually have some usage restrictions. For example, it can’t be used for business or educational expenses. So, you should read the terms and conditions in advance. 

Car Loan

Unlike private loans, which can be used for various purposes, a car loan can be used to buy a car or refinance an existing mortgage. Cars are one of the biggest purchases in people’s lives. According to the loan terms, you can pay back while using a new car and having fun while traveling. In case of late payment, your car may be confiscated. 


For many, buying a home is a life goal. However, very few people can pay for a house at once. Mortgages allow you to diversify your financial solutions and payments over the years. You usually have to pay a certain percentage of the sale price of your home.

These costs are called a down payment. The down payment is about 20% (or more) of the house price. But it can be even lower depending on the type of mortgage you are eligible for. After the down payment, the contract is repaid until all mortgages are paid off. 

Your mortgage holder is your homeowner until you make the last mortgage payment. If payments are overdue, there is a risk of foreclosure, and the lender may seize your home. So, you have to track it carefully. 

Student Loan

Student loans can be used to pay for education-related expenses, such as:

Student loans are often the first budgeting loan a person lends out. Most student loans don’t have to be repaid before graduation. Some student loans have a deadline of several months to look for a job before they start repaying.

Small Business Loan

Small business loans provide the cash flow businesses need to improve or expand their existing businesses. It is also an advanced feature for anyone starting a new business. With the small business loan, the following business expenses can be paid:

Applying for a small business loan usually requires the presence of a formal financial products plan explaining how the funds will be used. In addition, some small business loans require a personal guarantee. It promises to repay the loan with personal assets in case of default.

Payday Loan

Payday loans can be used to receive funds for almost all expenses. It is also very easy to apply:

If you don’t repay by the next repayment date, your loan can be automatically extended. This loan is equal to the amount of the previous loan plus the accrued interest and fees. Payday loans can have up to 400% APR, which can be very fast and expensive. 

Oportun Fees & Rates

Personal loans are usually subject to an annual percentage fee, but especially with alternative lenders, it is known that they require a fee from the borrower. It is important to keep an eye on how these overdraft fees will affect your total costs when considering whether you can repay your borrowed money.

There are no general fees such as a membership fee or monthly fee in Oportun. But depending on your state, some taxes may be charged.

The interest rates are much higher than the interest rates that private money lenders usually take. Although it is positioned as an “alternative render” for people who don’t have a bank account or have a low credit score, it doesn’t charge the fees that payday renderers charge. This loan is very expensive. The cost of monthly expenses is between traditional loans and potential rip-off loans.

Oportun Safety and Security

If we talk about the company’s safety and security policies, there is nothing special. Oportun collects information only to improve its accredited products and services, regulatory requirements, and customized services.

Your information can also be used for typical website analytics, targeted digital advertising, and promotions. 

The good news is that you can opt out of this by clicking on the “Privacy Settings” link at the bottom of your webpage. It doesn’t seem to share any secure information with other third-party services. For security reasons, it is encrypted with an SSL certificate.

At least other reviews didn’t raise any money security concerns.

Trustworthiness & BBB Rating of Oportun

Oportun is a Certified Business Support Authority. It has an A + rating from the BBB. It is a non-profit organization focused on consumer protection and trust. It evaluates companies by assessing customer complaints, the truthfulness of advertising, and the transparency of business practices.

Still, remember that a good BBB rating doesn’t guarantee a good relationship with Oportun. You can also search for customer reviews on the Internet or ask friends if they used its services.

By the way, Oportun was recently involved in a serious scandal. According to a ProPublica study, the company filed thousands of lawsuits against low-income Hispanic borrowers during the COVID-19 epidemic, threatening them to continue paying high-interest loans. So, if you are worried about this case, perhaps you should consider another financial company.

Oportun Mobile Support and Accessibility

Oportun’s mission is to provide meaningful and accessible financial services. It helps clients build a better future and involves developing products and services accessible to everyone, including people with different abilities. It strives to improve the usability and design so that as many people can use it as possible.

So, Oportun has an app for iPhone and Android. By working together, they can provide more opportunities to improve the financial state of customers. Everyone who has a smartphone or tablet can enjoy this new financial instrument.

It is a very simple app that allows you to save money, start investing and even reduce overdraft fees. Use the digital connection with your bank to calculate smart savings based on your income and spending habits. Then unknowingly save a small amount for your goal. This desktop app gives you financial freedom by doing other smart things about money, like budget management, banking, and more.

You can always turn to online mobile support and get an answer to any question. 

Customer Service at Oportun

Oportun can be called the best service. They wish their customers to feel good. Please, turn to its customer service if there are any questions. 

The following information about yourself should be specified:

All objections to the credit check must be made in writing.

If you have accessibility problems due to obstacles or obstructions, please contact the Oportun customer service team by phone or mail specified on the official website. 

It works:

Please, don’t include your social security number, account number, or other confidential information in your e-mail communication to protect your privacy.

Is Oportun Good Choice for You?

If you don’t have a credit history and need cash for a sudden expense like rent and utility, Oportun is a good short-term choice. According to a spokeswoman for Oportun, lenders have contacted two of the three major credit refinance agencies for bills – Experian and TransUnion. Meeting the paycheck deadlines will help build a credit history. 

Oportun is great for people with a bad credit score and who need to borrow money immediately. As an alternative to payday loans, the minimum loan amount is only $ 300, and you can borrow up to $ 10 000. It is not the cheapest financial company, but it is much better than traditional financial ones.

Still, Oportun’s interest rates are higher than some other lenders. So, you should compare the interest rates to see if there are cheaper options elsewhere, especially if you have a good credit score and your income is not high.

Apps Like Oportun

What are the Oportun’s alternatives with the same features?


Blue Motor Finance

Crédito Real

Crescent Bank & Trust

Get Cash Advance Now!

Do you need cash immediately? Fitt the application for free to get money right now!

How We Review

In the review process, we learned that Oportun has been accredited by the Business Support Authority since 2016 and has an excellent offer tool (opens with a new account). It has a generally positive reputation on many financial services sites.

Unlike many money lenders, it doesn’t have an online calculator. So, you will have to enter your client’s data during the bidding process. The application is completed in at least 10 minutes. Theoretically, it is possible to withdraw funds within a day.

Regarding interest rates and customer service, Oportun is relatively easy to understand and respond to. The company supports lending only to those who can prepare repayments. For this purpose, they want to draw up policies (certificate of income, etc.). 

It also works with credit reporting agencies in the United States to help clients with zero or extremely low credit scores build a better position for the future.

Oportun loans are expensive. But compared to payday lenders, it seems like a great option. If you don’t have a loan and need to raise money, you should contact Oportun before asking for help from a payday financing company.


Chime is an app that allows you to open tax-exempt checking and savings deposits with account transfers and debit cards. Chime offers a program to speed up account transfers by two days. Oportun doesn’t work with it.

Oportun was founded in 2005 by Gabriel Manjarres, James Gutierrez, and Progreso Financiero. Raul Vazquez, CEO of Oportun, was praised for his business success, leadership, and commitment to providing affordable financial services. The office is based in San Carlos, California.

The company is building its AI-driven platform to drive this change. They can provide affordable loans for your creditworthiness and income and those who tend to be excluded from the financial flow. Since 2006, they have issued more than 4.9 million loans and helped create a credit history for 1 million people who came without a credit score.

The credit card issuer of Visa Oportun is WebBank, a member of the FDIC. It reports its account status to credit institutions in the United States.

Usually, there is no prepayment penalty when you turn to similar companies. Early repayment of personal loans without special payments is a great way to save interest. With Oportun, you can repay a loan ahead of schedule without a prepayment penalty.

Oportun makes it possible for anyone to get cash quickly. It doesn’t matter if you are a US citizen/resident with low creditworthiness. The application is completed in a few minutes. You can get a loan within 1 business day.

The application process is usually completed within 10 minutes if you submit the correct documents. Most approved applicants receive the funds on the day of application.

The loan from Oportun has been approved, and you are expected to receive the money within 3 business days.

Oportun advertises with a loan amount of 300 to 10,000 dollars. However, not all applicants receive a large loan amount. The maximum loan amount varies from state to state. Loans over $6,000 are only available to opportunity repeaters.

Oportun will write the report to the credit bureaus if you delay with payment. Such behavior negatively affects your creditworthiness. Visa Oportun credit card holders report their account status to credit institutions across the country at WebBank, a member of the FDIC.

They report your account to credit bureaus nationwide to help you build your credit history. Delays in loan disbursement can be reported to credit bureaus and damage your creditworthiness. Timely payment is one of the most important factors in calculating your creditworthiness.

The number of applications is unlimited. You have the right to apply for a loan as many times as you want. However, applying for multiple loans or credit cards in a short time will affect your credit score.

Oportun has an application before qualifying. So, you can find out if you are likely to get a loan and how much you can borrow by applying only for a low-interest loan that doesn’t affect your credit history.

Oportun makes difficult inquiries when it comes to a loan. This credit bureau will probably lower your credit score by about 5-10 points. But you can get it back if you pay on time for a few months.

These are Mon-Fri: 8 am—8 pm PT; Sat-Sun: 9 am—7 pm PT.

Leave a Reply

Your email address will not be published.


facebook twitter

Disclaimer: This platform is a free online resource aimed at assisting people with making smart financial decisions and choosing the most appropriate solutions tailored to their finance-related needs. Fit My Money provides professional research, comparison, reviews and unbiased opinions on multiple financial topics. We strive to keep the information on the website up to date and accurate. Although the information we share is based on thorough research, it doesn’t constitute solely professional or legal advice, thus shouldn’t be treated as such.

To keep the website free and continue providing valuable content, we get compensation from the companies listed and/or featured on the site. The compensation rate may impact the way the offers appear on the site. Fit My

Money doesn’t include all available offers and/or companies.

The authors’ and/or editorial opinions are solely their own and are not provided, endorsed, reviewed and/or approved by the offer issuers and/or companies we get compensation from. Our content may differ from the information you get from the financial institutions issuing offers. We present the products and services without warranties. When you choose to click on the offer, you agree to be directed to the issuer's site where you can and should review the terms of use.

By using our website you agree to our Terms of Service and Privacy Policy

Become a Contributor

Fit My Money Inc

8 The Green Suite #7484 Dover, DE 19901

© Copyright 2022. All rights reserved