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If you’re in need of a personal loan, Oportun may be an option to consider. But is Oportun legit? Or is it a scam? In this Oportun review, we’ll take a look at the company and see what it has to offer. We’ll also discuss some of the pros and cons of using this company for your personal loan needs. So, whether you’re thinking about applying for a loan with Oportun or just want to know more about them, keep reading!

What is Oportun?

It is a personal loan company that offers loans to people with bad credit. They have been in business since 2005 and is headquartered in California. It focuses on providing loans to underserved borrowers, including immigrants, minorities, and those who have low incomes or no credit history.

How does it work?

It offers personal loans from $300 to $5000. The interest rates vary depending on your credit score, but they typically range from 19% to 29%. It also charges a one-time origination fee of up to $95. You can use the loan for any purpose you choose, and you have up to three years to pay it back.

Oportun has a very strict approval process. In order to be approved for a loan, you must have a valid social security number, proof of income, and a bank account. They also look at your credit score and credit history to determine if you’re a good risk for a loan.

Oportun Rating

Oportun Pros and Cons

What are the pros of Oportun?

  • It offers loans to people with bad credit, so they may be an option if you have been turned down by other lenders.

What are the cons of Oportun?

There are also several cons to using Oportun for your personal loans:

  • It has a very strict approval process, so you may be turned down if you have bad credit or no credit history.
  • The interest rates are relatively high compared to other personal loan companies.
  • It charges a one-time origination fee of up to $95.

Who owns Oportun?

This company is a relatively new player in the personal loan space, and there has been some question about who actually owns the company. Oportun is headquartered in California, but it is unclear who the majority owner is. Some reports say that Oportun is owned by Mexican businessman Remedios Varo Martinez, while other sources claim that Oportun is a subsidiary of Grupo Salinas.

Regardless of who actually owns Oportun, one thing is for sure – the company provides personal loans to people with low credit scores. Oportun claims that they use alternative data sources to determine whether or not to provide a loan to an applicant, which allows them to lend money to people who may not be able to get a loan from a traditional lender.

Oportun has been criticized by some for charging high-interest rates, and there have been reports of people being scammed by the company. However, Oportun does offer a way to get a loan without having to go through a traditional bank, and for people who need money quickly, Oportun may be the only option.

Oportun BBB Reviews

Oportun has an A+ rating with the Better Business Bureau (BBB).

However, their rating isn’t perfect. As of this writing, they have 160 complaints closed in the last three years, 84 complaints closed in the last 12 months, and 23 complaints open as of today.

The most common complaints against Oportun are that they’re a scam, that they don’t honor their agreements, and that they’re difficult to work with. Others complain about hidden fees and high-interest rates.

Here are some Oportun BBB reviews:

Noel S 03/31/2022

I received an offer for a credit card with a $1000 limit and a $29 annual fee. I applied and was approved. When I logged on to the site the credit limit was only $300 with the same $29 annual fee. Never would have applied for a $300 credit limit with that high of an annual fee.

Yazeed S 03/16/2022

They said they pre-approved me for ***** but only gave me $400. They took $357 out of my account for no reason then canceled my card and told me I’ll receive a refund in 30 days. This company misled me into believing that I was going to get a $***** credit limit. I called to see why they took $357 out of my bank account and they told me to just use it up on the card. The card did not work at all. I was misled because they gave me an inquiry when they said I was pre-approved.

Art E 02/24/2022

I have paid my **** on time every month they take the money out of my account and then say it was returned. My bank says it was paid and not returned but they charge me a return fee every month, Today I paid my entire balance. If it is returned we will be going to court and I will file charges for theft by deception. I will contact the attorney genal in both states. I will contact the *** and the ***** Make no mistake we will go to court. My advice is to run as fast as you can from this company. I have 4 other credit cards and have never had this problem. It also takes them 7 to 10 days to post anything. The other cards are very quick. Capital One is the fastest and easiest to pay. Stay away from this card. It is a nightmare and customer service is a joke.

Is Oportun a legitimate company?

There is some debate over whether or not Oportun is a legitimate company. Some people have complained about being scammed by the company, while others have had good experiences.

They claim to offer low-interest rates and flexible repayment terms. However, their interest rates are actually quite high, and their repayment terms are not as flexible as they claim.

If you’re considering borrowing money from them, be sure to read the fine print and make sure you understand the terms of your loan agreement. Don’t let yourself get scammed by this company. Do your research and make sure you’re getting a good deal before borrowing money from them.

If you have any complaints about Oportun, please feel free to share them in the comments section below. I’d love to hear what other people have to say about this company. Thanks for reading!