OneMain offers secured and unsecured loans for a fixed-rate. The largest loan you can apply for online is $9,999, although larger loans can be made in-person at the branch. If you secure your loan with collateral, such as your car, you can receive lower rates. Keep in mind that using your car as security places it at risk. If you default on your loan, you can lose your car. Your interest rate is based on your income, credit score, and payment history. Be sure that you understand the terms of the loan, including the size of your monthly payments and how many payments you'll need to make. OneMain offers a 14 day window to cancel your transaction.
OneMain was formerly CitiFinancial. OneMain offers unsecured and secured loans. Loans are available for debt consolidation, home improvement, and to cover unforeseen expenses or emergencies. OneMain has 1,300 branch locations nationwide. States they do not work in are Alaska, Arkansas, Connecticut, Massachusetts, Nevada, Rhode Island,and Vermont, as well as Washington D.C.
Fixed rates. No pre-payment penalty. 14-day window to cancel at no risk.
Loan rates can be high. Not able to get a rate quote until in the branch location.
Annoyed at Phone Call
I recently received a phone call from Maria of the OneMain Financial branch in Honolulu. When I saw the call number appear on my phone I was wondering what she would be calling me about since I have been current with payments on my loan. She basically asked me if I applied for a new loan. I told her yes and what about it? I felt like I was being scolded by her tone of voice. I told Maria the loan was rejected. She should only be calling me if I'm behind on payments.
Accepted and Rejected.!
Responded to their offer of an already accepted loan, arrive to their office with all required documents, then I am told my UK pension income is unacceptable as its source is not from USA, I am an accepted USA permanent resident with an approved standing and income that meet One Main requirement. But upon face to face visit at the Aberdeen, NC. office was turned down. All was at my time, travel and financial cost. What a waste it was!!!
Right loan for me
I used the loan I got from them to pay off some higher interest rate credit cards, so the loan made sense for me. My consolidated payment is lower and will help me pay off my balances more quickly. It's definitely not a cheap loan, but I crunched the numbers and it was a good move for us. We received solid service.
I applied for the loan. I told the guy the branch in Waco TX that I have income from my job and from the government which equals over 1000 a month. He said I was approved for $4000. Then I told him I made $35,000 on my tax return. I faxed check stubs and government money to him. I called them and they avoided me, so my husband called. He said they only use my 1 income then were going to make my husband a co-borrower. They never did call him. That's very un-business like. I guess you have make $2000 or $5000 a month to get a loan. They are rude and liars.
High cost, but it helped me.
It would be nice if someone like me, with decent credit, could find an unsecured loan at a good rate. My rate from OneMain was 24%, which is pretty high, but I know I will be able to pay it back next year when my wife and I get our tax return.