QUESTIONS

Payments

What is the easiest way to make my loan payments?

If you have a checking or savings account, the easiest way to make your Oportun loan payments on time is through automatic payments. You can set up automatic payments by calling 866-488-6090 or by visiting an Oportun store—just have your bank or credit union account and routing numbers handy.

Auto loans, Payments, Personal loans

How can I make a payment online?

It’s easy to pay online if your bank or credit union offers bill pay. Oportun does not charge a fee for automated payments. Many banks recommend making bill pay payments at least five business days prior to the bill’s due date to make sure your payment is received on time.

Follow these instructions:

  • Sign in to your bank or credit union account online and navigate to its bill pay service
  • Set up a one time or recurring bill payment
  • Enter Oportun’s company information: Oportun, PO Box 2063, Menlo Park, CA 94026; 1-866-488-0690
  • Enter the loan number listed in your contract

Automatic payments are the easiest way to make your loan payments on time—and you’ll never forget your due date.

Auto loans, Payments, Personal loans

Are there fees associated with my personal loan?

We do not charge application or prepayment fees. We do, however, charge an origination fee or a tax stamp when we approve your loan (depending on which state you live in). This fee is calculated as part of your annual percentage rate (APR) along with the amount of interest you will owe. We also charge fees for late payments and returned checks.

Applications, Payments, Personal loans

Are there fees associated with my auto loan?

Two factors will determine the fees you have to pay with your auto loan: (1) the state you live in and (2) who you buy your car from (a dealer or a private seller). You may be charged some or all of the following: sales tax, registration fee, origination fee, and/or notary fees. To make it simple for you, we will show you all estimated fees in the loan configurator screen as you apply online.

We also charge fees for late payments and returned checks. We do not charge prepayment fees.

Applications, Auto loans, Payments

How does Oportun help me build a credit history?

Unlike other alternative lenders, we report your account behavior to nationwide credit bureaus. Each month, we let them know whether you’ve paid your loan payments on time and in full. You can establish positive credit when you make your requested payments on or before your due date and pay off your loan in full. It generally takes at least six months to establish an initial credit score.

If you miss payments or make late or incomplete payments, we also report that to the credit bureaus. Such behavior can negatively impact your credit score.

Auto loans, Establishing credit, Payments, Personal loans

How can I make a payment in person?

Options for auto loan payments are temporarily limited while we roll out this new product, but we’re adding new options all the time.

Payments are accepted at any Oportun store  or in hundreds of convenient locations that provide CheckFree Pay, MoneyGram, or PayNearMe.

In Oportun stores, we accept cash, checks, money orders, and Oportun-issued Ventiva® debit cards. Please bring exact amounts, as we are not able to make change. However, we’ll credit any excess funds to your account.

You can also pay at Walmart, Kmart, CVS, 7-Eleven, grocery stores, corner stores, Family Dollar stores, and hundreds of other locations that accept CheckFree Pay, MoneyGram, or PayNearMe payments. Oportun does not receive any portion of the fees charged by the vendors above for making a payment. No fees for using these payment options will be charged to customers in California, New Jersey, New Mexico, or Wisconsin if the loan was disbursed in these states.

  • No fee: Find a CheckFreePay location—you will need your Oportun loan number (located in your loan documents), name, and phone number associated with your loan.
  • No fee: Find a MoneyGram location—you will need your Oportun loan number (located in your loan documents). If you’re making payments on a personal loan, use receive code 7991. If you’re making payments toward an auto loan, use receive code 14565.
  • A $1.99 fee may apply: Find a PayNearMe location—you will need your PayNearMe barcode, located in your loan documents.

Options for auto loan payments are temporarily limited while we roll out this new product, but we’re adding new options all the time.

Auto loans, Payments, Personal loans

How can I make a payment by phone?

Call us at 866-488-6090. You can make a payment through your Oportun-issued Ventiva card or through your bank (we’ll just need your routing and account numbers). We can help you make a one-time payment or set up automatic payments from your bank or credit union. Automatic payments are the easiest way to make your loan payments on time.

Payments, Personal loans

How can I make a loan payment by check?

We are happy to accept checks and money orders in stores or by mail. Please include your loan number in the check memo. Do not sent cash.

Payments may be mailed to the following address:
Oportun
P.O. Box 2063
Menlo Park, CA 94026

Payments, Personal loans

What if I can’t make a payment?

We understand that unexpected things happen. Please let us know right away if you think you won’t be able to make a payment. Call us at 888-907-0129, and we’ll try to work something out with you.

We report your account to nationwide credit bureaus—that’s how we help you establish a credit history. When you miss a loan payment, we report it to the credit bureaus, which could hurt your credit score. Making payments on time is one of the most important factors in your credit score calculation.

Auto loans, Payments, Personal loans

Can someone else make a payment for me?

Yes. However, privacy laws limit the amount of information we can share about your loan. If you’d like someone to make a payment on your behalf, make sure they know the name and telephone number associated with your loan and the payment amount you would like to make.

Payments, Personal loans

How much will my payments be?

We do our best to set you up for success. Payment amounts are based on your loan size, interest rate, fees, and terms of your loan. Payments for personal loans and auto loans are made in fixed installments, meaning they don’t change over the life of the loan (except the last payment, which may be larger or smaller depending on whether you made your payments on time).

If you’d like to make a lower payment, you have the ability, within certain parameters, to change the loan amount or loan terms before the loan is disbursed.

Auto loans, Payments, Personal loans

Applications

What documentation do I need to apply for an auto loan?

Be prepared to share the following documents:

  • A valid driver’s license issued by a state government agency
  • Proof of income, such as current pay stubs or current bank statements
  • Verification of address, such as a piece of mail with your name and address (cannot be a PO box)
  • Up to four personal references, which can include friends, family, or employers
  • Proof of auto insurance
Applications, Auto loans

How fast is the application process for a personal loan?

We know your time is valuable and we’re committed to providing you with fast service. Prequalification takes only minutes and will not impact your FICO® credit score. The full application process typically takes under 10 minutes if you supply the correct documentation. Most approved applicants receive their funds the same day they apply.

Applications, Personal loans

How fast is the application process for an auto loan?

We know your time is valuable, and we’re committed to providing you with fast service. We’ll be able to tell you in minutes whether you’re prequalified for a loan, how much you’re able to borrow, and whether you’ll need to make a down payment.

Applications, Auto loans

Are there fees associated with my personal loan?

We do not charge application or prepayment fees. We do, however, charge an origination fee or a tax stamp when we approve your loan (depending on which state you live in). This fee is calculated as part of your annual percentage rate (APR) along with the amount of interest you will owe. We also charge fees for late payments and returned checks.

Applications, Payments, Personal loans

Are there fees associated with my auto loan?

Two factors will determine the fees you have to pay with your auto loan: (1) the state you live in and (2) who you buy your car from (a dealer or a private seller). You may be charged some or all of the following: sales tax, registration fee, origination fee, and/or notary fees. To make it simple for you, we will show you all estimated fees in the loan configurator screen as you apply online.

We also charge fees for late payments and returned checks. We do not charge prepayment fees.

Applications, Auto loans, Payments

What factors does Oportun consider when granting a loan? 

We know that you are more than just a set of numbers or a credit score. If you have a credit history, we will look at it, but we also consider other information. We may even approve you if you’ve faced bankruptcy.

Applications, Auto loans, Personal loans

Can I be prequalified without impacting my credit score?

Yes. When we prequalify you, we run a soft credit pull, which does not impact your FICO® credit score.

When we are ready to make a final decision on your loan application, we run a hard credit pull, which can impact your credit score. Learn more about hard and soft credit pulls.

Applications, Auto loans, Personal loans

Can more than one person sign for a personal loan?

Yes, in some instances we do accept cosigners. Cosigners should be aware that becoming obligated on another person’s loan is treated as a debt obligation, and that person will be responsible for the loan if you do not pay it off.

Applications, Personal loans

Can more than one person sign for an auto loan?

No. At this time, only one person can sign for an auto loan. However, more than one person may sign for an Oportun personal loan.

Applications, Auto loans

What if I decide not to proceed with my auto application?

If you choose not to proceed, please let us know so we can close your application.

If your application is approved, the approval expires after 30 days and you will need to reapply if you want to move forward.

Applications, Auto loans

What documentation do I need to apply for a personal loan?

Be prepared to share the following documents:

  • A valid photo ID, such as a driver’s license, passport, consular ID card, or a non-U.S. ID card (we accept from most countries)
  • Proof of income, such as current paystubs or current bank statements
  • Verification of address, such as a piece of mail with your name and address (cannot be a PO box)
  • Up to four personal references, which can include friends, family, or employers
Applications, Personal loans

Establishing credit

How does Oportun help me build a credit history?

Unlike other alternative lenders, we report your account behavior to nationwide credit bureaus. Each month, we let them know whether you’ve paid your loan payments on time and in full. You can establish positive credit when you make your requested payments on or before your due date and pay off your loan in full. It generally takes at least six months to establish an initial credit score.

If you miss payments or make late or incomplete payments, we also report that to the credit bureaus. Such behavior can negatively impact your credit score.

Auto loans, Establishing credit, Payments, Personal loans

What is a FICO® credit score?

Credit scores try to estimate the likelihood that a borrower will pay back debts on time. There are many types of credit scores developed by different companies, but the FICO® score, developed by Fair Isaac Corporation, is one of the most commonly referenced credit scores.

According to Fair Isaac Corporation, your FICO® credit score is a number between 300 and 850, and is calculated by a formula that takes into account the following factors:

  • Payment history (35%)
  • Amount owed (30%)
  • Length of credit history (15%)
  • Credit mix (10%)
  • New credit (10%)
Auto loans, Establishing credit, Personal loans

What is a nationwide credit reporting agency?

There are three nationwide credit reporting agencies, also called credit bureaus: Experian, TransUnion, and Equifax. These companies collect financial and other data about users, which is recorded in credit reports and used to create credit scores. Each bureau does not collect the exact same information, so a person can actually have multiple credit scores, including multiple FICO® credit scores.

Establishing credit

OportunPath

What is OportunPath and how does it work?

OportunPath provides fast, friendly help between paychecks. We offer helpful insights and alerts about your checking account balance, and for those eligible, a fast deposit, up to $100 (a top up), to cover upcoming or unexpected expenses.

If you’re eligible, top ups are available when your balance drops to $100 or less. You’ll receive a text message asking if you want a $100 top up. Simply reply “top up” and the funds will be deposited into your checking account in minutes.

Top ups are recouped automatically when your checking account balance rises above the threshold. Don’t worry, if your balance goes back down, we’ll ask if you want another top up—but you can only have one top up at a time.

OportunPath

Do you charge any fees for OportunPath alerts or top ups?

No. There are no monthly or subscription fees, no transfer fees, and no interest charges. When we say no fees, we mean it.

OportunPath

What are the requirements to sign up for OportunPath?

You don’t need to be a current or previous customer of Oportun to sign up, and there are no fees for the service. OportunPath is available to residents of all states except New York. You must be at least 18 years of age, or the age of majority where you live, and have the following:

  • Valid cell phone number and email address
  • Checking account and linked debit card
  • Social Security number—we are legally required to verify your identity; this is not a credit check

Anyone can sign up to receive OportunPath’s balance alerts, but to qualify for top up coverage, you must meet certain income and eligibility requirements.

OportunPath

Which banks does OportunPath partner with?

OportunPath partners with thousands of banks. If you don’t see your bank listed, we don’t currently partner with it—but check back soon.

OportunPath

When will the money reach my bank account?

Once you accept a top up, Oportun transfers the funds into your checking account through your debit card. 98 percent of top ups post in minutes, but 2 percent can take 1–3 days, depending on your bank.

OportunPath

How do I edit or update my information?

Log in to your account: https://app.oportunpath.com/login/phone

  1. On your dashboard, select the item you wish to update
  2. Update your profile with the new information

Note: If you’re changing your debit card, it must be linked to the bank account you signed up with. Cards that are not connected to your linked checking account will not be accepted.

OportunPath

Is my information safe with OportunPath?

Oportun takes security seriously. The service is designed to prevent fraudulent use. We use two-factor authentication and 256-bit encryption to protect the privacy and security of your information. We do not store your bank login credentials or your debit card information; they are encrypted and securely transmitted to our third-party partners.

OportunPath

What’s the best way to contact OportunPath?

You can always email us at [email protected]. But if you’re logged in to your account, you can chat with us live by opening the chat box in the lower right-hand corner. We’re available:

Mon-Fri: 8 am–8 pm PT
Sat: 9 am–7 pm PT
Sun: 9 am–6 pm PT

OportunPath

How do I cancel the service?

You can cancel OportunPath at any time with 30 days’ notice by calling 855-416-9850 or sending written notice to [email protected] with the subject line “cancel notice.” We’ll send you a confirmation email once the service is cancelled.

OportunPath is a new service, and we will be adding new features and ways to improve the experience. If you have a suggestion, please share it with us.

OportunPath

Personal loans

What is the easiest way to make my loan payments?

If you have a checking or savings account, the easiest way to make your Oportun loan payments on time is through automatic payments. You can set up automatic payments by calling 866-488-6090 or by visiting an Oportun store—just have your bank or credit union account and routing numbers handy.

Auto loans, Payments, Personal loans

How can I make a payment online?

It’s easy to pay online if your bank or credit union offers bill pay. Oportun does not charge a fee for automated payments. Many banks recommend making bill pay payments at least five business days prior to the bill’s due date to make sure your payment is received on time.

Follow these instructions:

  • Sign in to your bank or credit union account online and navigate to its bill pay service
  • Set up a one time or recurring bill payment
  • Enter Oportun’s company information: Oportun, PO Box 2063, Menlo Park, CA 94026; 1-866-488-0690
  • Enter the loan number listed in your contract

Automatic payments are the easiest way to make your loan payments on time—and you’ll never forget your due date.

Auto loans, Payments, Personal loans

How fast is the application process for a personal loan?

We know your time is valuable and we’re committed to providing you with fast service. Prequalification takes only minutes and will not impact your FICO® credit score. The full application process typically takes under 10 minutes if you supply the correct documentation. Most approved applicants receive their funds the same day they apply.

Applications, Personal loans

Are there fees associated with my personal loan?

We do not charge application or prepayment fees. We do, however, charge an origination fee or a tax stamp when we approve your loan (depending on which state you live in). This fee is calculated as part of your annual percentage rate (APR) along with the amount of interest you will owe. We also charge fees for late payments and returned checks.

Applications, Payments, Personal loans

What factors does Oportun consider when granting a loan? 

We know that you are more than just a set of numbers or a credit score. If you have a credit history, we will look at it, but we also consider other information. We may even approve you if you’ve faced bankruptcy.

Applications, Auto loans, Personal loans

Can I be prequalified without impacting my credit score?

Yes. When we prequalify you, we run a soft credit pull, which does not impact your FICO® credit score.

When we are ready to make a final decision on your loan application, we run a hard credit pull, which can impact your credit score. Learn more about hard and soft credit pulls.

Applications, Auto loans, Personal loans

Can more than one person sign for a personal loan?

Yes, in some instances we do accept cosigners. Cosigners should be aware that becoming obligated on another person’s loan is treated as a debt obligation, and that person will be responsible for the loan if you do not pay it off.

Applications, Personal loans

How do I get my personal loan funds?

We can disperse funds in numerous ways, depending on what works best for you: check, Oportun-prepaid Ventiva card, or a direct deposit into your bank account. We’ll make things as convenient as possible, and we’ll walk you through your options, which may vary based on the state where you live.

Personal loans

How does Oportun help me build a credit history?

Unlike other alternative lenders, we report your account behavior to nationwide credit bureaus. Each month, we let them know whether you’ve paid your loan payments on time and in full. You can establish positive credit when you make your requested payments on or before your due date and pay off your loan in full. It generally takes at least six months to establish an initial credit score.

If you miss payments or make late or incomplete payments, we also report that to the credit bureaus. Such behavior can negatively impact your credit score.

Auto loans, Establishing credit, Payments, Personal loans

What is a FICO® credit score?

Credit scores try to estimate the likelihood that a borrower will pay back debts on time. There are many types of credit scores developed by different companies, but the FICO® score, developed by Fair Isaac Corporation, is one of the most commonly referenced credit scores.

According to Fair Isaac Corporation, your FICO® credit score is a number between 300 and 850, and is calculated by a formula that takes into account the following factors:

  • Payment history (35%)
  • Amount owed (30%)
  • Length of credit history (15%)
  • Credit mix (10%)
  • New credit (10%)
Auto loans, Establishing credit, Personal loans

How can I make a payment in person?

Options for auto loan payments are temporarily limited while we roll out this new product, but we’re adding new options all the time.

Payments are accepted at any Oportun store  or in hundreds of convenient locations that provide CheckFree Pay, MoneyGram, or PayNearMe.

In Oportun stores, we accept cash, checks, money orders, and Oportun-issued Ventiva® debit cards. Please bring exact amounts, as we are not able to make change. However, we’ll credit any excess funds to your account.

You can also pay at Walmart, Kmart, CVS, 7-Eleven, grocery stores, corner stores, Family Dollar stores, and hundreds of other locations that accept CheckFree Pay, MoneyGram, or PayNearMe payments. Oportun does not receive any portion of the fees charged by the vendors above for making a payment. No fees for using these payment options will be charged to customers in California, New Jersey, New Mexico, or Wisconsin if the loan was disbursed in these states.

  • No fee: Find a CheckFreePay location—you will need your Oportun loan number (located in your loan documents), name, and phone number associated with your loan.
  • No fee: Find a MoneyGram location—you will need your Oportun loan number (located in your loan documents). If you’re making payments on a personal loan, use receive code 7991. If you’re making payments toward an auto loan, use receive code 14565.
  • A $1.99 fee may apply: Find a PayNearMe location—you will need your PayNearMe barcode, located in your loan documents.

Options for auto loan payments are temporarily limited while we roll out this new product, but we’re adding new options all the time.

Auto loans, Payments, Personal loans

How can I make a payment by phone?

Call us at 866-488-6090. You can make a payment through your Oportun-issued Ventiva card or through your bank (we’ll just need your routing and account numbers). We can help you make a one-time payment or set up automatic payments from your bank or credit union. Automatic payments are the easiest way to make your loan payments on time.

Payments, Personal loans

How can I make a loan payment by check?

We are happy to accept checks and money orders in stores or by mail. Please include your loan number in the check memo. Do not sent cash.

Payments may be mailed to the following address:
Oportun
P.O. Box 2063
Menlo Park, CA 94026

Payments, Personal loans

What if I can’t make a payment?

We understand that unexpected things happen. Please let us know right away if you think you won’t be able to make a payment. Call us at 888-907-0129, and we’ll try to work something out with you.

We report your account to nationwide credit bureaus—that’s how we help you establish a credit history. When you miss a loan payment, we report it to the credit bureaus, which could hurt your credit score. Making payments on time is one of the most important factors in your credit score calculation.

Auto loans, Payments, Personal loans

Can someone else make a payment for me?

Yes. However, privacy laws limit the amount of information we can share about your loan. If you’d like someone to make a payment on your behalf, make sure they know the name and telephone number associated with your loan and the payment amount you would like to make.

Payments, Personal loans

How much will my payments be?

We do our best to set you up for success. Payment amounts are based on your loan size, interest rate, fees, and terms of your loan. Payments for personal loans and auto loans are made in fixed installments, meaning they don’t change over the life of the loan (except the last payment, which may be larger or smaller depending on whether you made your payments on time).

If you’d like to make a lower payment, you have the ability, within certain parameters, to change the loan amount or loan terms before the loan is disbursed.

Auto loans, Payments, Personal loans

What documentation do I need to apply for a personal loan?

Be prepared to share the following documents:

  • A valid photo ID, such as a driver’s license, passport, consular ID card, or a non-U.S. ID card (we accept from most countries)
  • Proof of income, such as current paystubs or current bank statements
  • Verification of address, such as a piece of mail with your name and address (cannot be a PO box)
  • Up to four personal references, which can include friends, family, or employers
Applications, Personal loans

Auto loans

What is the easiest way to make my loan payments?

If you have a checking or savings account, the easiest way to make your Oportun loan payments on time is through automatic payments. You can set up automatic payments by calling 866-488-6090 or by visiting an Oportun store—just have your bank or credit union account and routing numbers handy.

Auto loans, Payments, Personal loans

How can I make a payment online?

It’s easy to pay online if your bank or credit union offers bill pay. Oportun does not charge a fee for automated payments. Many banks recommend making bill pay payments at least five business days prior to the bill’s due date to make sure your payment is received on time.

Follow these instructions:

  • Sign in to your bank or credit union account online and navigate to its bill pay service
  • Set up a one time or recurring bill payment
  • Enter Oportun’s company information: Oportun, PO Box 2063, Menlo Park, CA 94026; 1-866-488-0690
  • Enter the loan number listed in your contract

Automatic payments are the easiest way to make your loan payments on time—and you’ll never forget your due date.

Auto loans, Payments, Personal loans

What documentation do I need to apply for an auto loan?

Be prepared to share the following documents:

  • A valid driver’s license issued by a state government agency
  • Proof of income, such as current pay stubs or current bank statements
  • Verification of address, such as a piece of mail with your name and address (cannot be a PO box)
  • Up to four personal references, which can include friends, family, or employers
  • Proof of auto insurance
Applications, Auto loans

How fast is the application process for an auto loan?

We know your time is valuable, and we’re committed to providing you with fast service. We’ll be able to tell you in minutes whether you’re prequalified for a loan, how much you’re able to borrow, and whether you’ll need to make a down payment.

Applications, Auto loans

Are there fees associated with my auto loan?

Two factors will determine the fees you have to pay with your auto loan: (1) the state you live in and (2) who you buy your car from (a dealer or a private seller). You may be charged some or all of the following: sales tax, registration fee, origination fee, and/or notary fees. To make it simple for you, we will show you all estimated fees in the loan configurator screen as you apply online.

We also charge fees for late payments and returned checks. We do not charge prepayment fees.

Applications, Auto loans, Payments

What factors does Oportun consider when granting a loan? 

We know that you are more than just a set of numbers or a credit score. If you have a credit history, we will look at it, but we also consider other information. We may even approve you if you’ve faced bankruptcy.

Applications, Auto loans, Personal loans

Can I be prequalified without impacting my credit score?

Yes. When we prequalify you, we run a soft credit pull, which does not impact your FICO® credit score.

When we are ready to make a final decision on your loan application, we run a hard credit pull, which can impact your credit score. Learn more about hard and soft credit pulls.

Applications, Auto loans, Personal loans

Can more than one person sign for an auto loan?

No. At this time, only one person can sign for an auto loan. However, more than one person may sign for an Oportun personal loan.

Applications, Auto loans

How do I get my auto loan funds?

Because we’ve tried to make it as simple as possible for you to buy a car, you won’t personally receive the funds for your auto loan. We will deliver the funds directly to the seller, and you (the borrower) will get to drive away in your new car.

Auto loans

How does the vehicle seller receive payment for the car?

You don’t have to take care of paying the seller. Once all the documents are signed at the closing appointment, we will send the seller a check. You can drive away in your new car

Auto loans

Are there restrictions on the type of vehicle I can purchase with my auto loan?

The vehicle you select may only be used for personal purposes, and it must meet the following requirements:

  • Priced between $5,000 and $30,000
  • No older than 15 years
  • 150,000 miles or less
  • Registered in your current state of residence
  • One of the following brands: Acura, Audi, BMW, Buick, Cadillac, Chevrolet, Chrysler, Dodge, Fiat, Ford, Genesis, GMC, Honda, Hyundai, Infiniti, Jaguar, Jeep, Kia, Land Rover, Lexus, Lincoln, Mazda, Mercedes-Benz, Mini, Mitsubishi, Nissan, Ram, Scion, Subaru, Toyota, Volkswagen, or Volvo

Vehicles that meet the following criteria are ineligible for an Oportun auto loan:

  • Uses other than personal
  • RVs or trailers
  • Motorcycles
  • Exotic or electric
  • Heavy duty trucks
  • Cargo or commercial vans
  • Commercial or “for hire” vehicles
  • Vehicles with a salvage or branded title
  • Flood or frame damage
  • Vehicles with a replaced or modified odometer
Auto loans

Do I need auto insurance?

Yes. You will need to show proof of auto insurance, and you must maintain comprehensive and collision coverage over the term of your loan.

Auto loans

What if I decide not to proceed with my auto application?

If you choose not to proceed, please let us know so we can close your application.

If your application is approved, the approval expires after 30 days and you will need to reapply if you want to move forward.

Applications, Auto loans

How does Oportun help me build a credit history?

Unlike other alternative lenders, we report your account behavior to nationwide credit bureaus. Each month, we let them know whether you’ve paid your loan payments on time and in full. You can establish positive credit when you make your requested payments on or before your due date and pay off your loan in full. It generally takes at least six months to establish an initial credit score.

If you miss payments or make late or incomplete payments, we also report that to the credit bureaus. Such behavior can negatively impact your credit score.

Auto loans, Establishing credit, Payments, Personal loans

What is a FICO® credit score?

Credit scores try to estimate the likelihood that a borrower will pay back debts on time. There are many types of credit scores developed by different companies, but the FICO® score, developed by Fair Isaac Corporation, is one of the most commonly referenced credit scores.

According to Fair Isaac Corporation, your FICO® credit score is a number between 300 and 850, and is calculated by a formula that takes into account the following factors:

  • Payment history (35%)
  • Amount owed (30%)
  • Length of credit history (15%)
  • Credit mix (10%)
  • New credit (10%)
Auto loans, Establishing credit, Personal loans

How can I make a payment in person?

Options for auto loan payments are temporarily limited while we roll out this new product, but we’re adding new options all the time.

Payments are accepted at any Oportun store  or in hundreds of convenient locations that provide CheckFree Pay, MoneyGram, or PayNearMe.

In Oportun stores, we accept cash, checks, money orders, and Oportun-issued Ventiva® debit cards. Please bring exact amounts, as we are not able to make change. However, we’ll credit any excess funds to your account.

You can also pay at Walmart, Kmart, CVS, 7-Eleven, grocery stores, corner stores, Family Dollar stores, and hundreds of other locations that accept CheckFree Pay, MoneyGram, or PayNearMe payments. Oportun does not receive any portion of the fees charged by the vendors above for making a payment. No fees for using these payment options will be charged to customers in California, New Jersey, New Mexico, or Wisconsin if the loan was disbursed in these states.

  • No fee: Find a CheckFreePay location—you will need your Oportun loan number (located in your loan documents), name, and phone number associated with your loan.
  • No fee: Find a MoneyGram location—you will need your Oportun loan number (located in your loan documents). If you’re making payments on a personal loan, use receive code 7991. If you’re making payments toward an auto loan, use receive code 14565.
  • A $1.99 fee may apply: Find a PayNearMe location—you will need your PayNearMe barcode, located in your loan documents.

Options for auto loan payments are temporarily limited while we roll out this new product, but we’re adding new options all the time.

Auto loans, Payments, Personal loans

What if I can’t make a payment?

We understand that unexpected things happen. Please let us know right away if you think you won’t be able to make a payment. Call us at 888-907-0129, and we’ll try to work something out with you.

We report your account to nationwide credit bureaus—that’s how we help you establish a credit history. When you miss a loan payment, we report it to the credit bureaus, which could hurt your credit score. Making payments on time is one of the most important factors in your credit score calculation.

Auto loans, Payments, Personal loans

How much will my payments be?

We do our best to set you up for success. Payment amounts are based on your loan size, interest rate, fees, and terms of your loan. Payments for personal loans and auto loans are made in fixed installments, meaning they don’t change over the life of the loan (except the last payment, which may be larger or smaller depending on whether you made your payments on time).

If you’d like to make a lower payment, you have the ability, within certain parameters, to change the loan amount or loan terms before the loan is disbursed.

Auto loans, Payments, Personal loans