Lenders like Opploans, NetCredit, and CreditNinja offer online loans designed for people with poor or no credit history. One of the main benefits of these loans is that they often provide access to quick cash for those who may struggle to get approved for traditional bank loans or lines of credit.
If you’re struggling with your personal finances, you may have considered applying for a personal loan with one of these online lenders. Whether you’re catching up on bills or dealing with a surprise expense, finding an affordable and attainable solution is essential when dealing with a financial emergency.
To set yourself up for success, it’s important to have all the facts upfront before you apply for any type of loan, including unsecured personal loans. In this guide we’ll cover basic requirements, interest rates, and other loan details from some of the top personal loan lenders out there. That way you have the resources you need to make the best decision for you and your budget.
Brand Overview
Check out a quick review below to see how personal lenders like CreditNInja, NetCredit, and Opploans compare.
| Lender | Loan Amount Range | Key Information |
| CreditNinja | $300-$5,000 | – No Minimum credit score requirement to apply, takes into account current employment. – No hidden fees. – No prepayment penalty. – Loans up to 24 months. |
| NetCredit | $1,000 to $10,000; lines of credit up to $4,500 | – APRs range from 34% up to nearly 100%, depending on the state – Charges loan origination fees (1–5%) that reduce proceeds – Accepts borrowers with low credit; considers a broader financial profile beyond just credit score |
| Opploans | $500-$50,000 | – Very high rates: typically 160%–195% APR – Terms range from 9 to 18 months for installment loans. – Loans are serviced by bank partners under the OppLoans |
CreditNinja
CreditNinja personal loans were designed to be a more affordable solution over other bad credit loan options like payday loans or cash advance loans.
Below is a summary of CreditNinja’s major pros and cons.
| Pros | Cons |
| – Online process; apply using your smartphone, computer, or tablet. – CreditNinja specializes in unsecured personal loans, which means no collateral required! – CreditNinja also reports to the major credit bureaus, which means borrowers can work towards improving bad credit. | – Active bank account required (cannot qualify without a checking account). |
NetCredit
NetCredit has an easy online application and offers lines of credit, but it’s important to note that these lines of credit are only available in some states. Furthermore, their loan amounts tend to run high, which can put borrowers with vulnerable budgets at risk. CreditNinja, on the other hand, has reasonable loan amounts, no minimum credit score requirement, as well as a short and easy online application.
Take a look at a quick breakdown of NetCredit’s pros and cons below.
| Pros | Cons |
| – Short application. – Lines of credit available in some states. – Bad credit is ok. | – High maximum loan amounts of $10,000. – Borrowers with expensive loans risk falling into a cycle of debt. – Lines of credit not available in every state. |
Opploans
Opploans offers bad credit personal loans, similar to CreditNinja. While both options offer personal loan access to a wide range of borrowers, CreditNinja has Opploans beat when it comes to customer service. Just check out the CreditNinja reviews on Trustpilot!
You can also use the below Opploans pros and cons breakdown as a tool to help you in your research process:
| Pros | Cons |
| – Online Application. – Same-Day funding available. – Those with bad credit may still qualify. | – Those with a lower credit score may only qualify for higher interest rates. – Must have an eligible direct deposit account (ie, a checking account that receives direct deposit). |
FAQ: Opploans vs NetCredit vs CreditNinja
Which lender offers the largest loan amount?
NetCredit generally provides higher loan amounts, while OppLoans and CreditNinja typically offer smaller amounts between a few hundred and several thousand dollars.
How do credit score requirements compare?
Compared to NetCredit, OppLoans and CreditNinja can be more flexible and may approve applicants with poor or limited credit history.
Can I use bad credit loans to pay off credit card debt?
Yes. Many borrowers use personal loans from Upstart, NetCredit, or CreditNinja to consolidate credit card debt into a single monthly payment. However, it’s important to consider loan terms and the total cost, as bad credit loans can have high interest rates.
What is the application process like with Opploans vs NetCredit vs CreditNinja?
The application process for all three lenders is online and usually takes just a few minutes. NetCredit emphasizes income and ability to repay, while CreditNinja keeps its process simple for quick approvals.
Do these personal loan lenders work with a credit union?
No. CreditNinja, OppLoans, and NetCredit are online lenders and not credit unions. However, some borrowers compare them with credit union loans, which may offer lower interest rates for members with good credit.
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