What is the difference between OppLoans and NetCredit?

OppLoans (OppFi) offers smaller installment loans ($500–$4,000) with APRs up to 160%, typically for borrowers with scores below 600. NetCredit offers larger loans ($1,000–$10,000) with APRs up to 99.99% and is available in more states. Both are high-cost lenders of last resort.

What credit score do you need for OppLoans?

OppLoans does not have a published minimum credit score and often lends to borrowers with scores below 600 or even no credit history. However, it uses a proprietary underwriting model that also considers bank account data, employment, and income.

What credit score do you need for NetCredit?

NetCredit accepts borrowers with poor to fair credit, often starting at 550+. Their underwriting looks beyond traditional credit scores at income and banking history. Approval is not guaranteed even for applicants meeting the minimum.

Are OppLoans and NetCredit good options?

Both carry very high APRs (often 100%+) and should only be used as a last resort when cheaper options are unavailable. Before applying to either, explore credit union payday alternative loans (PALs, capped at 28% APR), CDFI loans, or asking for a payment plan from your creditor.

OppLoans vs. NetCredit 2026 — Which Bad-Credit Lender Is Better?

OppLoans and NetCredit are two of the most prominent online lenders serving borrowers with bad credit. Both offer installment loans to people who can’t qualify at traditional banks — but both also charge very high interest rates. If you’re considering either lender, understanding the differences and the true cost is critical.

OppLoans offers smaller loan amounts ($500–$4,000) with APRs up to 160%. NetCredit offers larger amounts ($1,000–$10,000) with APRs up to 99.99%. Neither is cheap — these are high-cost options for borrowers who have exhausted better alternatives.

OppLoans vs. NetCredit: Side-by-Side Comparison (2026)

Feature	OppLoans	NetCredit
Loan amounts	$500–$4,000	$1,000–$10,000
APR range	59%–160%	34.99%–99.99%
Loan terms	9–18 months	6–60 months
Minimum credit score	No published minimum (typically <600)	~550+
States available	37+ states	35+ states
Funding speed	As fast as 1 business day	As fast as 1 business day
Origination fee	None	None (in most states)
Prepayment penalty	None	None
Credit bureau reporting	Yes (helps build credit)	Yes

OppLoans Overview

OppLoans (operated by OppFi) markets itself as a “responsible” alternative to payday loans. It offers installment loans with fixed monthly payments rather than balloon payments due on your next payday.

Pros:

No minimum credit score
Reports to all three credit bureaus (helps build credit)
No origination fees or prepayment penalties
Fast funding (often same or next business day)

Cons:

APRs up to 160% — far above the 36% consumer protection threshold advocated by the CFPB
Small loan amounts (max $4,000)
Not available in all states (check OppFi.com for your state)
Uses rent-a-bank model in some states to circumvent rate caps

Best for: Borrowers who need $500–$2,000 quickly, have exhausted all other options, and can repay within 12 months.

NetCredit Overview

NetCredit (operated by Enova International) offers larger installment loans and lines of credit to bad-credit borrowers. Like OppLoans, it uses a bank partnership model in some states.

Pros:

Larger loan amounts (up to $10,000)
Longer terms available (up to 60 months)
Soft pull pre-qualification available
Reports to credit bureaus

Cons:

APRs can reach 99.99% — even a $5,000 loan becomes extremely expensive
Fewer states than some competitors
Not a substitute for lower-cost borrowing
Uses Enova’s proprietary underwriting — some applicants are declined despite meeting the stated minimums

Best for: Borrowers who need $3,000–$10,000 and cannot qualify elsewhere, with a clear repayment plan.

The True Cost of High-APR Loans

High interest rates accumulate quickly. Compare these scenarios:

$3,000 loan at different APRs over 18 months:

APR	Monthly payment	Total repaid	Total interest
10%	$185	$3,322	$322
36%	$223	$4,016	$1,016
99.99% (NetCredit high end)	$381	$6,858	$3,858
160% (OppLoans high end)	$516	$9,293	$6,293

A $3,000 loan at 160% APR over 18 months costs over $6,000 in interest alone.

Safer Alternatives to Consider First

Before applying to OppLoans or NetCredit, exhaust these options:

Alternative	Rate cap	Where to find it
Credit union PAL I/II	28% APR max	NCUA.gov credit union locator
CDFI loan	Typically <36%	CDFI Fund (cdfifund.gov)
Credit-builder loan	Low or 0%	Self.inc, local credit unions
Employer paycheck advance	Often free	Ask HR; earned wage access apps
Nonprofit emergency assistance	Grant/0%	211.org

Which Is Better: OppLoans or NetCredit?

If you need $500–$2,000 and prefer the lowest possible loan amount: OppLoans is the more direct option.
If you need $3,000–$10,000: NetCredit’s higher maximums and lower peak APR (99.99% vs. 160%) give it a relative edge for larger amounts.
In either case: Borrow only what you need, choose the shortest repayment term you can afford, and have a clear plan to avoid rolling the loan over.

Both lenders report to credit bureaus — consistent on-time payments will help rebuild your score, making future borrowing cheaper.

Related reading:

Written by WealthVieu

WealthVieu researches and writes data-driven personal finance guides using primary sources including the IRS, Bureau of Labor Statistics, Federal Reserve, and Census Bureau.

The content on Wealthvieu is for informational purposes only and should not be considered financial, tax, or investment advice. Consult a qualified professional before making financial decisions. Full disclaimer · Editorial policy