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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

3.7

Oportun Account Review

Advertiser Disclosure

Oportun provides an accessible financial platform for individuals with no credit or poor credit histories, offering personal loans, auto loans, and credit cards. Through an Oportun account, users can manage their loans, make payments, and track their credit-building progress. While the user-friendly interface and credit-building features are praiseworthy, the relatively high APRs could be a downside. Nonetheless, Oportun's mission to serve underserved communities makes it a noteworthy option for those looking to establish or improve their credit.

Key Features

  1. Affordable loans. Borrowers are offered affordable loans with fixed payments and no prepayment penalties. This means that borrowers can pay off their loans early without incurring any additional fees.
  2. Easy application process. The loan application process is quick and easy. Borrowers can apply online or in-person at one of Oportun's branch locations. The company also offers bilingual customer support to help borrowers with any questions they may have.
  3. Credit building. Oportun reports loan payments to credit bureaus, which can help borrowers establish a credit history and improve their credit scores over time.
  4. Flexible payment options. The company offers flexible payment options, including automatic payments, online payments, and payments by phone or mail. Borrowers can also make additional payments or pay off their loans early without incurring any additional fees.
  5. Financial education. Oportun has free financial education resources to help borrowers make informed financial decisions. These resources include online courses, one-on-one financial coaching, and educational materials.

Oportun

How To Register an Account?

Oportun provides two options for applying for a loan: online and in-store. The online process involves filling in personal details, income, expenses, choosing loan amount and term. Upon submission, Oportun reviews the application to determine eligibility for a loan. If approved, a loan offer will be sent with details including the amount, interest rate, and term. Once the offer is accepted, the loan funds will be disbursed either by direct deposit or check.

Alternatively, one can visit any of Oportun's branch locations to apply for a loan in-person by providing identification documents, proof of income, and address. If approved, the loan funds can be received on the spot via check or prepaid debit card. There are no hidden fees or charges, and bilingual customer support is available. After accepting a loan offer, the time it takes to receive funds varies depending on the funding method selected, but typically takes 1-2 business days.

Step-by-step Registration

Apply for a Loan

  1. Visit Website Oportun or download Mobile App.

  2. Choose the type of loan you're interested in. Oportun offers personal loans and secured personal loans.

  3. Pre-Qualify. Click on the "Apply now" button. Fill in the necessary details to get prequalified, which usually includes basic personal and financial information. This step doesn't impact your credit score.

  4. If pre-qualified, you'll be prompted to complete the full application. This will likely include providing more detailed personal, financial, and employment information.

  5. Provide the required documentation such as proof of income and a government-issued ID.

  6. If approved, review the loan terms, including the interest rate, loan amount, and repayment schedule.

  7. If you agree to the terms, accept the loan to finalize the process.

  8. Once your loan is approved, the funds are typically deposited into your bank account within 1 to 2 business days, or you may receive a paper check.

How To Login in Oportun Account?

To log in to your personal account, please follow these steps:

  1. Go to the Oportun website.
  2. Click on the "Log in" button in the top right corner of the page.
  3. Enter your registered email address and password in the fields provided.
  4. Click on the "Log in" button.

If you have forgotten your password, you can click on the "Forgot password" link on the sign-in page and follow the instructions to reset your password. If you are having trouble logging in, you can contact Oportun customer support for assistance.

How Do Oportun Loans Work?

Oportun lending products are designed to be affordable, accessible, and helpful for individuals who may not qualify for traditional loans due to their credit history. Here's how Oportun loans work:

  1. Choose the loan product. The company offers personal loans and credit cards for a variety of purposes. Choose the product that best fits your needs.
  2. Submit an application. You can apply for an Oportun loan online or in-person at one of their branch locations. Provide your personal information, income details, and choose the loan amount and term that you prefer.
  3. Provide identification. Oportun requires a valid ID, such as a driver's license or passport, to confirm your identity.
  4. Provide proof of income. You'll need to provide proof of income, such as a pay stub or bank statement, to show that you have the ability to repay the loan.
  5. Evaluate the loan offer. If approved, you'll receive a loan offer with the loan amount, term, interest rate, and other details. Review the offer carefully to make sure you understand the terms and conditions.
  6. Get funding. If you accept the loan offer, Oportun will disburse the loan funds to you either via direct deposit or by check.
  7. Repay the loan. Oportun loans have fixed payments and terms ranging from 7 to 46 months. Make your payments on time to avoid late fees and to build your credit history. The company also reports loan payments to credit bureaus, which can help you establish or improve your credit score over time.

Other Loans

Loan Funding Times

The time it takes to receive loan funds from Oportun may vary depending on the funding method you choose and the time it takes for your bank to process the deposit. However, in most cases, you can expect to receive your loan funds within 1-2 business days after accepting the loan offer. Here are some more details on funding times for each option:

  1. Direct deposit. If you choose to receive loan funds via direct deposit, Oportun will typically deposit the funds into your bank account within 1-2 business days after you accept the loan offer. However, the exact time may vary depending on your bank's processing times.
  2. Check. If you choose to receive loan funds by check, the company will typically mail the check to you within 1-2 business days after you accept the loan offer. Once you receive the check, you can deposit it into your bank account or cash it at a check-cashing store.

Who Are Oportun Loans For?

Oportun loans are designed to be accessible and affordable for individuals who may not qualify for traditional loans due to their credit history. Loans may be a good fit for:

  1. Individuals with limited credit history. The company does not require a credit score for loan approval, making it an ideal option for individuals who are building their credit history.
  2. Individuals with low credit scores. Oportun considers factors such as income, employment history, and payment history to determine loan eligibility, making it a good option for individuals with low credit scores.
  3. Individuals who need access to funds quickly. The company offers fast loan funding options, with funds typically disbursed within 1-2 business days after accepting the loan offer.
  4. Individuals who prefer personalized customer service. Oportun offers in-person customer support at their branch locations, as well as bilingual customer support over the phone and online.

How To Delete an Account?

To delete your Oportun account, you can contact their customer service team either by phone or email. Here are the steps:

  1. Phone. Dial the toll-free number 1-866-488-6090 to speak with a customer service representative. Explain that you would like to delete your account and ask for assistance with the process.
  2. Email. Send an email to [email protected]. In the email, explain that you would like to delete your account and ask for assistance with the process.
  3. Verify your identity. A customer service representative may ask you to verify your identity by providing personal information, such as your name, address, and date of birth, or by answering security questions.
  4. Follow instructions. A customer service representative will provide you with instructions on how to delete your account or may assist you in deleting the account over the phone or via email.
  5. Confirm account deletion. Once the account is deleted, you will receive a confirmation from Oportun that your account has been deleted.

Note that deleting your Oportun account will not affect any existing loans or obligations you may have with Oportun. If you have any open loans with Oportun, you will still be responsible for making payments until the loan is paid off in full.

How To Reset a Password?

To reset your password for your account, you can follow these steps:

  1. Go to the Oportun website.
  2. Click on "Log in" in the top right corner of the page.
  3. Click on "Forgot password" on the log-in page.
  4. Enter the email address associated with your Oportun account, your last name, and press the “Reset password” button.
  5. Follow the prompts to verify your identity, such as by answering security questions or entering a verification code sent to your email address.
  6. Once your identity is verified, you will be prompted to create a new password for your account.
  7. Enter and confirm your new password.
  8. Click on "Reset Password" to complete the process.

Once you've reset your password, you can use your new password to log in to your Oportun account. If you continue to have issues logging in, you can contact Oportun customer support for assistance.

Editorial Opinion

Oportun's account offers a gateway for financially underserved individuals to access credit and work on credit-building. However, the high APRs might deter some potential borrowers. Its user-friendly platform and range of financial products tailored for those with limited credit history show a commendable effort to fill a significant gap in the financial market. Yet, a thorough review of the terms and the cost associated with Oportun's products is advisable to ensure it aligns with one's financial circumstances.

Important

It's crucial to ensure that online lenders are registered with relevant financial regulatory authorities to guarantee their legitimacy and your safety. Check for secure website protocols, read reviews, and verify the lender's registration with bodies like the Consumer Financial Protection Bureau (CFPB) or other regional financial regulatory institutions. It's wise to be cautious and thoroughly vet online lenders to avoid potential scams or fraudulent activities.

Methodology

At Finanso, we conducted an exhaustive review of over 100 lending institutions, evaluating them on 35 distinct metrics spread across six primary areas: loan accessibility, client engagement, service quality, interest rates, and condition transparency. In each domain, vital factors like interest rates, loan amounts, credit score prerequisites, income requirements, application charges, and fund disbursement speed were meticulously assessed. Valuing our user base highly, we also scrutinized customer service quality, user testimonials, and extra features to aid in informed decision-making. Our endeavor aims at delivering insightful suggestions and expert counsel to help you choose a lender perfectly aligned with your unique financial needs.

Additional Resources

Sources

FAQ

How Do I Contact Oportun?

To contact Oportun, you have several options:

  1. Phone. You can call Oportun customer service at the following numbers:

    • Personal Loan: 1-866-488-6090;
    • Credit Card: 1-855-613-0070;
    • Credit Account: 1-888-886-1715.
  2. Message. You can send a message to Oportun customer service using one of the following methods:

  3. Mail. You can send mail to Oportun at the following addresses:

    • Personal loans: PO Box 4085, Menlo Park, CA 94026;
    • Credit cards payments: PO Box 561240, The Colony, TX 75056;
    • Credit cards inquiries: PO Box 560698, The Colony, TX 75056.

            Choose the contact method that best fits your needs, and a customer service representative will be happy to assist you with your inquiry.

            How Do I Activate My Oportun Account?

            When you create an account with Oportun, you should receive an email with a link to activate your account. To activate your account, follow these steps:

            1. Check your email inbox for an email from Oportun with the subject line "Welcome to Oportun!" If you don't see the email in your inbox, check your spam or junk mail folder.
            2. Open the email and click on the link provided to activate your account. The link will take you to the Oportun website.
            3. Enter the email address you used to create your account and the password you set up.
            4. Click on the "Activate Account" button.
            5. You will be taken to your Oportun account dashboard, where you can view your loan details and manage your account.

            If you did not receive an email to activate your account, or if you're having trouble logging in, you can contact Oportun's customer service team for assistance.

            Why Can't I Access my Oportun Account Online?

            If you're having trouble accessing your Oportun account online, there could be several reasons why. Here are some common issues and troubleshooting steps you can take:

            1. Forgot password. If you can't access your account because you forgot your password, you can reset it by clicking the "Forgot Password" link on the login page and following the prompts.
            2. Incorrect email or password. Make sure you are entering the correct email address and password associated with your Oportun account. Double-check for typos, and ensure that you're using the correct uppercase and lowercase letters.
            3. Account activation. If you haven't activated your account yet, check your email inbox for a message from Oportun with instructions on how to activate your account.
            4. Account suspension. If your account has been suspended or closed for any reason, you won't be able to access it online. Contact Oportun's customer service team to find out more about the status of your account.
            5. Technical issues. Occasionally, Oportun's website may experience technical difficulties or outages that prevent you from accessing your account. Try accessing your account at a different time or on a different device to see if the issue persists.

            If none of these steps resolves the issue, contact Oportun's customer service team for additional assistance.

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            All Oportun’s reviews by november 2023
            Leave feedback
            11 reviews
            Personal loan
            1.6
            Disadvantages
            I opened a new loan four days ago and have yet to see the funds transferred into my account.
            Complain
            6 reviews
            Personal loan
            4.6
            Advantages
            I've taken out loans from this company multiple times and they've consistently been fantastic. They're very professional and helpful. Even with my not-so-great credit, they offer a reasonable interest rate. The online process is straightforward and user-friendly.
            Complain
            11 reviews
            Personal loan
            4.8
            Advantages
            I got a letter stating I was pre-approved, so I applied online and got approval within about 10 minutes – it was quick and straightforward. The same day, I was able to collect my check in person, and the ladies at the office were incredibly kind and welcoming.
            Complain
            6 reviews
            Personal loan
            4.8
            Advantages
            Applying was incredibly straightforward, and the funds were deposited by the next morning. During a tough period when I missed a few payments, their team collaborated with me, offering several solutions to help me get back on track. Their customer service is outstanding, truly going the extra mile to secure the loan I needed at the most favorable rate. I would absolutely recommend them to everyone.
            Complain
            6 reviews
            Personal loan
            1.8
            Disadvantages
            It's adequate for rebuilding credit but not outstanding. Despite two years of timely payments, they haven't adjusted my credit limit, and the customer service is largely ineffective. If I receive an offer for a card with a higher credit limit, I'll likely switch to another provider.
            Complain
            7 reviews
            Personal loan
            1.8
            Disadvantages
            After completing the application, I received no response. Upon emailing them, their reply was that they couldn't disclose any information via email. I'm wary of any service that hesitates to provide written communication.
            Complain
            10 reviews
            Personal loan
            4.8
            Advantages
            The representative I interacted with was friendly and supportive. He guided me through every step and even inquired if I required further assistance before concluding our call.
            Complain
            9 reviews
            Personal loan
            4.8
            Advantages
            I'm pleased with the credit card and appreciate that my limit gets increased as a reward for my timely payments and for consistently paying more than the minimum amount due.
            Complain
            14 reviews
            Personal loan
            4.6
            Advantages
            Extremely detailed and proficient. The money was deposited into my account in the morning the following day post-application, surpassing my expectations of 1-3 days. While the interest rates are somewhat steep, the flexibility to make larger monthly payments is a plus. I appreciate the variety of repayment choices available. I'd suggest Oportun to anyone seeking a personal loan, especially those with limited credit history.
            Complain
            Overall company rating
            3.7
            / 5
            9 reviews
            Execution of an application
            3.8
            Support service
            3.4
            Mobile app
            3.9
            Service quality
            3.7
            Your satisfaction level
            3.9
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