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Oportun Loan reviews: Can I get a second loan with Oportun?

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Oportun Loan reviews:  Can I get a second loan with Oportun?

Oportun loan reviews.

Can I get a second loan with Oportun?

The short answer is, yes. Of course you can take a second personal loan but there are a few conditions that need to be met before it can become a reality.

You still need to qualify for a second personal loan before the lender can repay it into your bank account. All eligibility criteria still apply. Lenders will check your credit score, need to verify your income and would like to confirm your job. They may also need to verify your immigration status by checking and verifying your visas or residency status.

A second personal loan is an effective method if you can qualify. Most importantly, it is a good idea if your credit rating can hold another loan. Your income should be higher than the mortgage payments you must serve. This is one of the most important ways in which lenders can prevent people from becoming over-indebted.

Beware of Excessive Borrowing

No matter you can get a second loan with Oportun doesn't mean you should become a regular borrower. A second personal loan sounds like a good idea. But is it really worth considering the monthly installments? You already have a personal loan and are already locked up in monthly installments. A second loan can put you in a bad financial position if you do not manage it properly.

Rethink the project or purchase you want to finance with your second personal loan. It does not help to go into debt for something you do not really need. On the other hand, find a cheaper alternative if you need something to borrow. Borrowing is not a joke because it will hurt your finances. Not only that, your credit score will also decrease if you start to miss out on loan installments. This will hinder your efforts to apply for future credit.

That being said, let's assume you've checked your finances and can take out a second personal loan. Where do you start your search for lenders? Who can consider a borrower requesting a second loan? Here are a few lenders to consider.

Advantage of Oportun personal  Loan

  • The fastest possible loan financing
  • He may be eligible for a loan with a limited credit history
  • Eligibility request is available

Disadvantages of Oportun personal loan

  • High interest rates are high
  • It is not available in most states
  • Large loan rates are only available to returning customers
  • The latest controversy over its debt collection processes.

How to qualify for an Oportun loan. (Oportun Loan reviews)

 Oportun does not have many strict credit requirements. The company supports loan financing decisions on items such as income, expenses and payments towards mobile and debt debt rather than focusing too much on credit history, although it will consider any history the applicant has. 

In this oportun Loan reviews, Applicants must demonstrate that they have a normal salary and the ability to repay the loan after all other monthly expenses have been met. 

According to Oportun, the average borrower has an income of $ 50,000. 

 Here's what you need to apply for an Oportun loan: 

  1. Valid ID.
  2. Proof of income. 
  3. Proof of address. 
  4. At least $ 500 in monthly income. 
  5. Up to four indicators. 
  6. Be 18 years or older. 

 Loan example: A two-year loan, $ 5,000 with an APR of 20.5% will have a monthly payment of $ 256. You will pay $ 1,144 total interest on that loan.


Oportun Loan reviews: 3 steps to apply and get a second loan with Oportun

If you are considering applying for a second personal loan, and making payments on part of your existing loan term, just follow these 3 simple steps.


Apply online for the loan amount you need. Submit the required documents and provide your best application as possible. Strong applications get better credit.


If your application meets the eligibility criteria, the lender will contact you regarding your application. Provide any additional information as needed. You will soon receive your loan offer. Some lenders send a note of promise and your loan offer. Sign and return the note if you wish to receive a loan.


The loan is then issued to your U.S. bank account. within the right number of days (some lenders will be as fast as 2-3 business days). Now you need to set up your payment method. You can choose the automatic payment method online to help you pay on time every month.

What you need to know about Oportun's personal loan

I believe This oportun review has answered our question ( Can I get a second loan with Oportun?).

 Oportun is a lender that markets personal finance as one of the most expensive day-to-day loans and title deeds. Based in California, Oportun offers both unsecured and secured personal loans, with loans ranging from $ 300 to $ 10,000.

You can apply for a loan online, in person or by phone and, if approved, you can get money quickly. Just remember that the exact time will depend on your bank.

If you are considering using Oportun Loan to pay for unexpected expenses or other financial emergencies, here are some things to consider before submitting an application.

The latest controversy over its debt collection processes
Oportun was reviewed in 2020 for its debt collection methods.

An investigation by ProPublica and the Texas Tribune found that Oportun was one of the main debtors in the spring of 2020 during the coronavirus violence. Even at that time of violence, Oportun continued to sue borrowers who were left behind in payments. The company has admitted that it has become the largest file of small applications in California and Texas.

In response, Oportun announced changes to some of its business processes. The company limited its interest rates to 36%, dropped all pending cases and suspended new installments.

You may be eligible for a loan even if you have a bad credit or no credit history

If you have a bad credit or no credit history, it can be difficult to qualify for a personal loan.

For people with lower credit than stellar, Oportun can be a useful option. Oportun says it looks beyond your credit score, taking into account other information such as your salary and your personal indicators. Even if you have declared fraudulent in the past, you can still get a personal loan from Oportun.

High interest rates

Although Oportun presents itself as an alternative to the most expensive payday loans and title deeds, it still has higher interest rates than the maximum personal loan.

Even if it has a new interest rate, its prices run smoothly up to double the number and even exceed the APR rate for credit cards. At such a high rate, you may end up paying more than you originally intended, making it difficult to get out of debt.

Instant loan repayment

If you need money to cover a debt or replace a flat tire, you may need cash immediately and not have days to wait for the check to arrive. If approved, Oportun says you can get your money in just two hours. But remember, it can take a long time depending on your bank account.

Large loan rates are only available to returning customers

Oportun gives loans ranging from $ 300 to $ 10,000. But not all applicants qualify for higher loan rates.


High loan rates vary from region to region, and loans of $ 6,000 or more are only available to returning Oportun customers. 

If you are a first-time borrower and need $ 6,000 to $ 10,000, you will need to work with another personal lender.

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