OneMain Financial Reviews

OneMain Financial, a subsidiary of Citibank Financial, has been a long standing lending company providing customized loans across the nation since 1912. They offer an easy application process which enables you to receive the money the same day.

By customizing loans to each individual’s needs, they are able to structure your loan around a number of different payment options. With fixed interest rates and fixed monthly payments, there are no surprises and unexpected interest rate jumps which are most typically found in other loan companies contracts.

Loans range from $1,500 - $20,000, the amount of the interest rate depends on if you choose an unsecured or secured loan using your car as collateral. The interest rate also depends on your credit score, your payment history and your income.

You can apply online or in any one of their branches located across the nation. An unusual benefit of getting a loan from OneMain Financial is the risk free 14-day guarantee they offer; you can cancel you loan, return the money, and not incur penalties for cancelling.

They also offer other services such as hardship assistance programs which pertain to homeowners who are in foreclosure or underwater on their home. OneMain Financial offers loan modifications, short sales, or a deed-in-lieu.

Articles and tools are offered through their site for free. There are financial education articles and financial knowledge articles that discuss topics such as identity theft, credit rights, and tips to get your finances in line.

Online calculators are also available, you can plug in your own numbers to determine monthly payments for a loan or calculate payments in the case you decide to pursue debt consolidation.

The recurring theme that has come up in many customer reviews online pertain to OneMain Financial’s unethical business practices.

Loans through their company are often accompanied by an extremely high interest rate. The interest rates throughout the country are less than 5%, but they have been applying rates of over 30% to their loans.

Their loan agents have also been leading customers to think they are getting a loan at one interest rate and then turning around and presenting them a much higher interest rate.

They feel that once they get a potential customer in the door they are able to play on the fact that these individuals need money and may be in a crunch for time.

OneMain Financial is indeed a part of Citi, aka Citibank; for some reason, the employees deny any connection with Citi. Questioning the truthfulness of their employees/agents regarding one simple question that they are untruthful about should be an indicator that they may be possibly lying about their services as well.

As with any personal loan or any legally binding contract, always review the document from top to bottom, back to front, and confirm that the contract is the same as what you had discussed initially.

Check out different companies to see where you can get a better quote and overall better deal. Use all of your resources to make an educated and calculated decision.

If you have any experience with OneMain Financial or their services, please leave your reviews below.

You may also be interested in

OneMain Financial Customer Reviews

  • Sort Reviews By:

Horrific Scammy - Hidden Interest - Do Not Use
October 4, 2022

They prey on your desperation. Interest rate is high but that is clear...what they don't tell you is there is an additional daily interest rate. In 2 weeks my $5,900 loan was at a $6,400 owed. $500 increase in 2 weeks. You will never be able to pay the loan back and you will be Screwed!!!

Scam
August 27, 2021
I just had one main contact me and said I could get a loan for $1,500 but didn't inform me that there was a catch. I have to pay a $100 before I can get the money and when I told them I didn't have a 100 the guy got a attitude with me and when I told him that there is no loan place that asks for money to provide you with a loan and that it was a scam he went off...

KammyK August 16, 2022

DONT DO IT!!!

Stealing Money
October 19, 2020

Here's what I emailed them today:

I am wrongfully being expected to pay $101.67 this month and expected to pay $83.17 next month. I have evidence that I made $412 worth of payments in the last two months.

The amount due the next 4 months should say $0.00. I know how loan financing works and this right here is wrong. This is an attempt to steal money from me.

Unethical to say the least
April 23, 2020

Customer service is nil. As another person has complained, after paying on the loan for two years, the pay off amount is at the original loan origination amount. To continue paying on the loan we would add an additional $2,000 on the original loan of $7,500 we have been paying on for two years.

Thankfully we are able to pay off and they are not cooperating! I had to turn on the professional charm (and its not charming) to reprimand our contact person about generating animosity and her uncooperative attitude. Of course, they are losing about $2,000 and not happy!

betty nathan December 16, 2020

Hi, something similar happened to me at one main in west Columbia, SC.

I went in the office to remove a 499.99 option from my loan. two years later i notice my loan wasn't being reduced, so I go in and confront the person, that handled the transaction.

He informed me that my loan had been refinanced. I was furious! And there was nothing i could do about this transaction.

I called the corporate office and the stand by the local office leaving me to pay this loan knowing what happened to me was not right unethical.

When I pay them off I hope I never have to call on them again.

Murphy October 31, 2022

Unbelievable , Appalling

Don't do it!!!
September 6, 2019

I got a loan through Onemain Finacial 2 years ago because I needed cash fast and didn't want to take the time to go through my bank. I get mail every week asking me to borrow more money or renew my loan. I decided to renew my loan online.

I filled in all the information and sent in all the documentation. I got a call back a few minutes later from a clueless representative who was trying to do a new application for a new loan. After I informed him that I had an account and had filled in an online account he looked it up, got the information and then proceeded to try to open a another new loan. I let him go on because he was so clueless.

The new loan was approved but I declined because my payment were more than doubled. The next day I was going to talk to the manager of this branch because I thought she needed to know that he was incompetent. I went to my account online and saw he had put that my application was declined. 36% is too much to pay in interest in the first place but to have your credit report tarnished by their incompetence is troubling.

AnnaBechtol September 09, 2020

Took a loan in 2017 for 3000 I pay 279 monthly and as of today I'm still paying the loan ,and my balance is still 5000 they say I owe

bait and switch
July 10, 2019

I was approved for a personal loan 3000 to 4000 - I was using the funds to purchase a car and use that car as security for the loan.

It has been 16 days since I got the approval and I have been trying to get one simple answer to my question about how they determine the car value - trade in value or fair market value ? After many online for attempts to get the answer.

After calling the seaford de branch several times and not getting the answer - after I had my concern escalated at one financial because of lack of support - after I waited 16 days for a simple answer - I hear back from them but the message they gave me in their response is that they can not honor the loan offer they made to me. Really ????

Thanks a lot for nothing and wasting 16 days of my time. I rage very very poor at the best. And one last thing - I found out that they use the trade in value of a vehicle which is typically 100 - 200 percent lower than fair market value - no one on earth is going to sell you a vehicle for trade in value - there would be 0 profit - example - I found one car - fair market value 3400 - buy from private party 2700 - buy from dealer > 3400 for a car in good condition - (I used carfax tool for these numbers ) the trade in value is between 400 - 600 dollars - there is no way - unless the answer I was able to get was incorrect. Stay away

there are better options!
August 16, 2017

I have had a loan it seems forever, due to illnesses in the family this place was quick and easy!! and once the local office closed what a pain!! after years of paying I went to a counselor at my Credit Union - so, so helpful and the help is free!!

I was able to move my loan to the Credit Union with a much lower interest. I had to do some things to be able to move the loan but all easily taken care of and my credit rating is getting better and better. with the help of the HUD certified financial adviser.

I highly recommend working with someone at a credit union or bank in your area, ask about free help - I was amazed at how little I had to do and my credit report is so much better, and it keeps getting better -- I asked One Main for a copy , just a copy of a form my credit union needed and they refused - not asking for the original, just a copy - could be stamped copy - they refused - but I only knew that after 3 or 4 calls - at first I was told would be faxed as requested, then told they did not have a title, then told they could not send a copy -- go talk to a counselor and work with them for real long term help

bill July 10, 2019

they suck

high cost of low living
April 2, 2017

if your situation is really bad, forget it they won't approve you. if you do get a loan get ready for a long ride. with the rates so high and the payback is so long, this loan will cost almost if not twice the loan. MAYBE MORE. DO NOT STEP IN THIS!

One Main Financial - Fraud, Scam or legit?
December 9, 2016

OneMain rides a fine line of Misrepresentation, Fraud and/or Scam.

Their aggressive bait and switch approach after approving you makes it so. "DO NOT RECOMMEND TO ANYONE!" Have no idea why Credit Karma would advertise them as a helpful financial company when their reviews are about 80% bad. Maybe it's time to review Credit Karma as well or just go ahead and deleting them from my useful list too.

Sandra Arzate March 08, 2017

Yep. They told me I had been approved, via email and phone. Then, just kidding, no.

Sketch.

erica May 25, 2017

That happened to me. They said I had final approval and it was 100% guaranteed. Well I went ahead and set up bills to be taken out of my account- for a couple days after loan was supposed to be there. Guess what? They called and said I was not getting it anymore. Thanks a lot! I am in worse situation than I was before.

Is it worth owing double the amount borrowed in small amounts over a long period of time!
August 11, 2016
I was offered the same type of deal for a $7,500 loan. After looking at the figures, I cancelled my appointment and withdrew my interest in the loan. She said she will "reject" my application. I am sure that was not a misuse of words and she meant "withdrawal" and it will show up on my credit however that is a small price to pay for dodging a bullet.

John December 09, 2016

El Paso, Texas Branch on Zaragoza Rd.,

You and Main One ride a fine line of Misrepresentation, Fraud and/or Scam.

I am already spreading the word through the civilian and military side. Sad how you try and take advantage of disabled vets.

GREAT PEOPLE
February 25, 2016

Went to get a loan. Was turn down at first, had to put my car up for collateral. The only thing is that the car had not been paid off yet. They work with me, and got car paid off, and other bills. Got the loan.

Everyone was so nice and helpful. Debbie was very nice and so helpful, and explain everything since this was my first loan. She explain everything to where I would understand, and Michael was very nice and very personal. Thank-you again onemain fin.

Lance
August 25, 2015

I just had the most fascinating experience with this company. I initially received a preapproved loan offer and, having just started a new business, decided to try them out. I was told by Robin, the branch manager in Lake City, Fl that although I alone wouldn't qualify because the business was too new (didn't have 2 years of tax returns) that it would be no problem combining my credit with my wife's income.

She took my information and then said she had to speak to my wife. Robin then told my wife that she never told me that anything could be combined. When I called her back and confronted her on this, she said that was not the case and that both our credit ratings would be used and combined. We were then turned down.

When asked why, Robin muddled through some vague and disjointed answer that never came close to the answer. As it turns out, she never even ran my credit! Needless to say, we went to another company who was more than happy to give us the funding we needed. These people are crooked and apparently incompetent. They bring up images of your worst used car salesman. STAY AWAY!!!

Too Good to Be True... Stay Away!
January 22, 2015

I read one reviewer who said that OneMain does NOT front load the loan with interest – this is a lie. I just had a bank payoff my loan from them; and yes, it’s like paying off what I initially borrowed after having made nearly the same equal amounts of payments of which I initially borrowed over 9 months. I was not aware of the front load; and I blame myself for not understanding what I was getting myself into.

I believed that I could pay more than the minimum payment and pay it off faster. All I wound un doing was paying them more interest than I should have. As I said, my mistake… however, I will NEVER do business with them under ANY circumstances.

Tracy Nickels April 28, 2015

I always check online when I get a to good to be true offer, I go online to check. Sure enough it's not a good idea. Thank you all that commented before me.

denied a loan
July 9, 2014
i was pre-approved for a personal loan so i took the time to fill out a application only to be denied what a waste of time.

John December 09, 2016

I was approved (not pre-approved, but approved) for 2 types of loans: a $10,000 loan with a car title or a $6,000 loan without. After trying to convince me to use my car title on a vehicle I was still paying and not succeeding, they miraculously un-approved me. I cancelled and withdrew my interest in the loan. She immediately hung-up on me.

NOTE: Before applying I did read reviews and complaints, and I now know they are true. Being how they represented themselves I'm sure it will show up on my credit...small price to pay for dodging a bullet.

Sandra Arzate March 08, 2017

I was also pre-approved--twice by email and phone. Then they called to tell me "Just kidding!" you've been denied. WTF?!

Sketch.

Mislead in initial loan information.
October 23, 2013
Its been a while but at the time of my loan I was told of a lower apr than appeared on the paperwork . Being my on fault for not doing a complete reading and trusting the agaent I was stuck in a loan where imediately after wanting to cancil I was told I could not with out having penalities against me . Almost paid up on this loan and will never ever again use them again.

John December 09, 2016

OneMain rides a fine line of Misrepresentation, Fraud and/or Scam.

Their aggressive bait and switch approach after approving you makes it so. "DO NOT RECOMMEND TO ANYONE!" Have no idea why Credit Karma would advertise them as a helpful financial company when their reviews are about 80% bad. Maybe it's time to review Credit Karma as well or just go ahead and deleting them from my useful list too.

racist
August 30, 2013
I was there and the manager is racist and...if that is how one main runs that office you wonder how it all runs... stay away.

Beware
May 17, 2013

I have a very unique experience which I will get in to shortly. First Pros and Cons:

Pros

- If you need a loan and you understand what you are signing up for, you are getting exactly what you expect

- The loan is legitimate and they do not frontload the interest as I have seen in other posts

- If your credit is less than stellar, and you are in need of cash, this place may be one of the few options you have

Cons

- High interest rates, daily applied and low payments over a long period is very predatory, let me explain:

let's say your loan payment is 200 per months for 60 months at 25% interest, that payment is likely 175 interest and 25 principal at the outset of the loan - choose to pay more than the minimum and don't miss even one payment. let's say you miss one payment , 175 interest tacked on, your next 7 payments will be all interest payments, 25 per month for 7 months to make up for the 175 you lost on one payment. They are praying you miss one payment.

- Customer service is abysmal; associates and branch managers posture way too much and don't know good customer service. They realize that people that come to them for loans are fairly desperate so they think they can act and speak to the customers in a contrite manner, it was a terrible experience.

- The application process is not easy nor short. I was in the office for an 90 minutes waiting on everything, their process is far from streamlined.

- You cannot cancel an auto payment via the web but you can sure as hell set one up.

- No easy way to escalate issues to corporate, the branch members are not willing to help in fear it will reflect badly on them.

- I went to the riverbank, CA branch – I warned you.

Here is my unique situation:

I was approached for a loan increase around the holidays, turns out they had the wrong file, the first two letters of our last name were the same the last three were different, it sounded the same but spelled different. I didn't receive the new loan (thank goodness) but during this process they withheld a payment while the loan was processing (or not processing as it were)

I made a double payment the next month, but they still tacked on the extra interest on their mistake. Now I brought this to their attention and they refused to do anything about it, I escalated to the branch manager and was told I shouldn't have applied for a new loan, I knew the consequences. I asked for a regional director contact and left numerous messages with no call backs. I basically made 6 payments of interest only.

I will never deal with the company again and let everyone know that I can about the predatory practices of this company. I paid off my loan, scraped it up by any means to get out of that hell hole.

I do not recommend this company with any ounce of my being but I understand binds that people get in to and if you choose to move forward with them here are my suggestions:

- Reduce the months on the loan if possible

- Make overpayments regularly, just factor it in when you are calculating the interest, there are plenty of amortization calculators on the web

- NEVER miss a payment!!!!

- NEVER EVER take a deferment, it is the same as missing a payment, the interest compounds!!!

- Never re-write the loan for a new amount!!!

- Pay it off as soon as you are able, this is not a long term instrument, it is a short term emergency,

I have nowhere else to go type of loan

John December 09, 2016

I was approved (not pre-approved, but approved) for 2 types of loans: a $10,000 loan with a car title or a $6,000 loan without. After trying to convince me to use my car title on a vehicle I was still paying and not succeeding, they miraculously un-approved me. I cancelled and withdrew my interest in the loan. She immediately hung-up on me.

NOTE: Before applying I did read reviews and complaints, and I now know they are true. Being how they represented themselves I'm sure it will show up on my credit...small price to pay for dodging a bullet.

Please avoid if possible
April 2, 2013

I have been with One Main since 2007 they where called Citi financial at that time . I have been paying a $1406.00 a month mortgage payment at 11.75% . which in short is this $39.00 dollars of that goes towards my home the remaining $1367.00 is interest !!

I take full responsibility I signed those papers after my husband lost his job after 35 years and we needed help So yes I am aware ,I want to make to keep my home and I work hard but I am and I have been paying for someone's salary at One MAIN They are trained not to BUDGE on any negotiating for lower interest rate , modification.

Trying to contact anyone other than the Branch office is very very protected and is impossible !!! (after sending out 25 letters to different address in Texas ) making I have been very desperate to find someone to take over my mortgage for several months I came so close 6 months ago but One MAIN WOULD NOT budge on the payoff settlement.

Now in my payoff settlement they are asking for almost $5000.00 more than the actual note that I had signed .

More than double the loan in fees & interest
March 4, 2013
They offered me a $5,000 loan with payments of $210/month for 5 years. That's over $12,000. I don't even know what the interest rate on that is, but it's insane. Sadly enough, I seriously considered signing the papers, then thought better of it.

Justin August 11, 2016

I was offered the same type of deal for a $7,500 loan. After looking at the figures, I cancelled my appointment and withdrew my interest in the loan. She said she will "reject" my application. I am sure that was not a misuse of words and she meant "withdrawal" and it will show up on my credit however that is a small price to pay for dodging a bullet.

John December 09, 2016

John (Texas) December 9, 2016

I was approved (not pre-approved, but approved) for 2 types of loans: a $10,000 loan with a car title or a $6,000 loan without. After trying to convince me to use my car title on a vehicle I was still paying, and not succeeding they miraculously un-approved me. Sad to say that I too was seriously thinking of taking the bait, but "Thank God" I cancelled and withdrew my interest in the loan. Of course she rudely hung-up on me.

NOTE: I read the reviews and complaints, but I desperately applied anyway. In hind sight I'm glad I saw their true nature before accepting, and being how they represented themselves I'm sure it will show up on my credit as well..."Hey, small price to pay for dodging a bullet."

Avoid if Possible
December 3, 2012

OneMain will not provide mortgage assistance loan modification as a preventive/proactive measure if you tell them you are facing a layoff or your finances will be overextended because your old, old car has quit and you are now having to adjust the budget to include car payments and higher insurance coverage.

They require you to wait until you are unemployed or overextended and behind financially before they will do an intake and decide whether to assist you with a loan modification or not. By then your credit rating has been affected, all other payments are behind and the effect of the stress is making you physically ill and depressed. But they will offer to give you a high interest car loan, while you are on your financial descent.

When I initially requested a lower interest rate I was told that 'they' were there when I needed them (then it was Citi financial and my mortgage holder, Saxon, was folding, my credit rating was lower and I was scrambling to get someone to save my mortgage and yes they took it over at 9% and it is not Fannie or Freddie which makes me ineligible for the government assist programs).

I was also told to be glad it wasn't a higher rate (he had just closed on an 11%). HE, it turns out, was telling customers that he was the manager but was not. Present management still, is trained to not budge on negotiating a lower interest, even after four years of on-time payments and a higher credit score.

Trying to contact anyone higher up is like trying to contact the big giant head of the inner sanctum....very protected. They keep referring you back to the local branch office and will literally hang up on you.