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Oportun Personal Loans Review 2024

If you’re looking for a way to automate your savings and need a personal loan, you may find what you need at Oportun. Previously Digit, Oportun personal loans help members reach their personal finance goals.

It targets consumers with bad credit or those who have trouble sticking to their savings goals.

Keep reading this Oportun review to determine if it’s right for you.

What Is Oportun?

Oportun calls itself an affordable loan company with savings tools, and that’s exactly what they do. They offer personal loans for any purpose, whether you’re behind on bills or need money for a deposit, and APRs that don’t exceed 35.99%. Their loans are targeted at borrowers with bad credit, as those with good credit will often find more attractive terms elsewhere.

Oportun also offers credit cards to consumers with no credit history. The Oportun® Visa credit card is a credit-building card with credit lines up to $1,000.

The Oportun app isn’t only about lending money, though. It also helps you save too. They claim they help Oportun members save over $1,800 per year. If you’re a personal loan member, you can access the Set & Save program for one year for free. The nice thing about its savings tools is it’s automatic. You don’t have to do anything except link your bank accounts and let the app determine when you have a little money to shift to savings.

How It Oportun Personal Loans Work

As you can see, Oportun does many things, including lending money and helping you save. They focus on helping consumers build or improve credit while meeting their financial goals. Here’s how it works, from signing up to handling your accounts.


How you sign up for the Oportun app depends on what service you want from it. If you’re looking for a personal loan, you’ll complete an online application. It takes only a few seconds.

First, you must confirm they serve your area by entering your zip code. If they work in your area, you’ll provide personal information proving you can afford the loan.

If you strictly want to use their Set & Save program, you need only to download the app (it’s free) and try the service free for 30 days. After 30 days, the plan is $5 per month, but you can cancel anytime.

Managing Your Loan or Credit Card Account

To manage your personal loan or credit card account, you can download the free Oportun app or make a payment online. In the app, you can make a payment, set up auto payments, and track your balance.

If you have questions about your account and can’t access the app, you can also text the Oportun bot at 855-642-2140. The bot can answer basic questions about your loan balance, your due date, or how much you owe. It can also accept payments.

Managing Set & Save™

To use the Set & Save program, you must download the Oportun app and link your bank accounts. This helps the app get to know your spending habits to determine how much you can save. Next, you’ll set your savings goals, and the app will automatically find money you can save to help you reach your goals.

Key Features

Here’s a better look at some of Opportun’s best features, including Set & Save and borrowing money when needed.

Set & Save

Set & Save is meant for anyone tired of not meeting their savings goals. Even with the best intentions, it’s easy to fall out of the habit of saving when life gets busy, but Oportun doesn’t let that happen.

After learning your spending habits, Oportun transfers money to your savings account held at one of their 18 partner banks. You can name goals you want to achieve, such as emergency funds, vacations, college savings, or any other goal. If you don’t have a specific goal in mind, you can set up a generic ‘rainy day fund’ and have funds transferred there.

The point of Set & Save is to help you save money without feeling it. You won’t feel like you have to sacrifice or that you’ll risk an overdraft with the funds it transfers.

Oportun Personal Loans

Oportun’s personal loans range from $300 to $10,000, with APRs up to 35.99%.

Applying only takes a few seconds and doesn’t affect your credit score. These loans, however, are targeted toward people with bad or no credit since the APRs are higher than what a traditional lender would give a borrower with good credit.

The nice thing about the Oportun personal loans is that they are unsecured, so you can use the funds for any purpose without worrying about losing any collateral.

Secured Personal Loans

If you live in California, you may also apply for a secured loan using your car title. These loans range from $2,525 to $18,500. Be careful with these loans, though, because you put up your car as collateral. Title loans typically have very high interest rates, and Oportun doesn’t disclose the APR they charge on these loans for California residents.

Credit Cards

The Oportun credit card is a credit-building card meant for people with no credit history. The credit lines are low compared to other credit cards, with a $1,000 limit, but they can be a stepping stone to a better credit card.

You can use the Oportun Visa anywhere Visa is accepted and make payments online or on the app, just like the personal loan.


Oportun has some great advantages to consider when deciding if it’s the right personal finance app for you.

1.   30-day Free Trial

The Oportun app is free for a year for personal loan members. Otherwise, it’s $5 a month. While that’s not a lot, it’s nice to know you can try the Set & Save service risk-free for 30 days. If you don’t like it, you can cancel your subscription and not pay a dime.

2. Automatic Savings

Forgetting to save or thinking you don’t have enough to save can hinder your personal finance goals. With Oportun Set & Save, you can rest assured you’re always saving money, even if it’s only a few dollars at a time. Every penny you save counts; before you know it, you’ll see progress on your savings goals without any effort required.

3. You Set Your Savings Goals

You get to choose your savings goals and can set up as many as you wish. Whether you want one account for ‘rainy day funds’ or multiple savings accounts to meet multiple goals, Oportun helps you reach those goals. There’s no limit to the number of goals you can create.

4. Funds Are FDIC Insured

You don’t have to worry about risking your funds. The 18 banks Oportun partners with are all FDIC-insured. This means even if the bank closes, you won’t lose your funds, up to $250,000.

5. Looks at More Than Your Credit Score

Oportun pulls your credit to determine eligibility for a personal loan, but they also consider other factors. They know borrowers are more than a credit score and don’t necessarily turn down borrowers with bad credit or even those with a past bankruptcy.


Like any personal finance app, there are some disadvantages to consider.

1. Monthly Fee for Non-Personal Loan Members

If you strictly want to use Oportun’s Set & Save program, it costs $5 without a personal loan. Even with a personal loan, the service costs $5 a month after the first year. While that might not seem like a lot, it can eat into your savings goals if you only save a few dollars.

2. APYs Are Low

The APY paid on most savings accounts through its partner banks is low. While it’s great that you’re setting money aside, it won’t have a lot of opportunity to grow compared to other options you may have at your disposal.

3. Personal Loans Have Fees

Oportun doesn’t charge application fees, but they do include an administration fee in your APR. They also charge late fees and returned check fees.

4. No Cosigners on Oportun Credit Cards

Currently, Oportun doesn’t allow cosigners on their Visa credit card. They do, however, allow cosigners on personal loans.

How Oportun Personal Loans Compare

Before signing up for Oportun, consider alternatives offering similar services to ensure you choose the right service. Its strongest competitor is Qapital.

Monthly Fee$5 without a personal loan; first year free with a personal loan$3 – $12, the Basic $3 plan is for set it and forget it savings
FeaturesCreate savings goalsApply for an unsecured personal loanAutomate savings based on spending habitsCreate savings goalsVisa® debit cardInvesting toolsLoan management                            
Best forPeople who need an unsecured personal loan for bad credit and automated savings toolsConsumers who have specific savings goals and need help achieving them

Final Word

If you don’t have any credit or your credit history could improve, Oportun may provide the chance to secure the funds you need in a personal loan. The APRs are high, but if you make payments on time, you’ll improve your credit score for future loans.

If you’re strictly looking for an app to help you save money, Oportun costs $5 a month, which may not be worth it if you don’t need its bad credit personal loan or credit card options.

The Verdict

Oportun may not be the first app you consider when looking for automated savings. However, if you need a personal loan for people with bad credit, you get the Set & Save program free for one year.

If nothing else, it can show you how easy it is to save money without it hurting your everyday finances. Not having the hassle of physically moving money yourself can be a lifesaver and help you reach your financial goals. However, if you have good credit and qualify for a lower APR personal loan, many other programs can help you save money, some for no fee at all.

Brian Martucci writes about credit cards, banking, insurance, travel, and more. When he's not investigating time- and money-saving strategies for Money Crashers readers, you can find him exploring his favorite trails or sampling a new cuisine. Reach him on Twitter @Brian_Martucci.