LendingPoint vs OneMain Financial

The short version

LendingPoint and OneMain both lend to borrowers a traditional bank might turn down, but they get there differently. LendingPoint is a fully online installment lender: it doesn’t publish a hard credit-score cutoff, though third-party analyses put its practical floor around 640, and it requires verifiable annual income of at least $35,000. Its APR runs 7.99%-35.99% as of September 2026, with an origination fee of 0%-10% deducted from your proceeds before funding, and terms run as long as 72 months.

OneMain is a branch-based installment lender with more than 1,300 physical locations. It doesn’t publish a minimum credit score either, looking instead at your credit history and leftover income, and it approves borrowers with credit scores in the 600s. Its APR runs 11.99%-35.99% as of September 2026, plus an origination fee — a flat $25-$500 or 1%-10% of the loan amount, depending on your state — deducted before funding. It also offers a secured option that uses a vehicle as collateral for a lower rate. The tradeoff: LendingPoint reaches a lower rate and a higher loan ceiling over a longer term, entirely online; OneMain publishes no minimum income and gives you a branch to walk into, or a vehicle to put up, if your credit alone won’t get you there.

Rates and fees

LendingPoint’s APR runs 7.99%-35.99%. The origination fee runs 0%-10% of the loan amount depending on your state and credit profile, deducted from your proceeds before disbursement. LendingPoint charges no prepayment penalty.

OneMain’s APR runs 11.99%-35.99%. Most loans carry an origination fee — either a flat amount ($25-$500) or a percentage (1%-10% of the loan), depending on your state — deducted from your proceeds before the money reaches you. OneMain charges no prepayment penalty.

Here’s the same $10,000 loan over 60 months at each lender’s midpoint APR — our own arithmetic, not a lender quote. LendingPoint’s range midpoint (7.99%-35.99%) is about 22%, with a representative 6% origination fee, our illustration inside its published 0%-10% range. OneMain’s range midpoint (11.99%-35.99%) is about 24%; since its fee is published as a flat $25-$500 or a 1%-10% percentage rather than a single number, we use a 5% fee as an illustration inside that published range. An APR already includes the origination fee by definition, so we amortize the cash you actually receive at the APR rather than counting the fee a second time.

• LendingPoint, $10,000 over 60 months at ~22% APR: the 6% fee ($600) comes off the top, so you’d receive about $9,400 in cash. Amortizing that at ~22% gives a monthly payment of about $259.56, total payments of about $15,574, and a total cost of roughly $6,174 over the $9,400 received.
• OneMain, $10,000 over 60 months at ~24% APR: the 5% fee ($500) comes off the top, so you’d receive about $9,500 in cash. Amortizing that at ~24% gives a monthly payment of about $273.24, total payments of about $16,394, and a total cost of roughly $6,894 over the $9,500 received.

At these midpoints, LendingPoint’s total cost is about $700 lower over five years, though OneMain puts about $100 more cash in hand at funding. OneMain’s secured option, which uses a vehicle as collateral, can lower its rate below this unsecured midpoint, and OneMain’s actual fee depends on your state. Treat this as illustrative, not a prediction of what either lender will quote you.

Who qualifies

LendingPoint asks for verifiable annual income of at least $35,000 and an active US bank account. It doesn’t publish a firm minimum credit score, but third-party comparisons put the practical floor around 640. You also need to be at least 18. LendingPoint is not available in Connecticut, Iowa, Maryland, Maine, Nebraska, Nevada, Vermont, West Virginia, or Washington, D.C.

OneMain doesn’t publish a minimum credit score. It looks at your overall credit history and leftover income, and it approves borrowers with credit scores in the 600s. You’ll need to be at least 18 (19 in some states), show photo ID and proof of residence, document a verifiable income source, and complete an in-person or virtual verification appointment. OneMain doesn’t originate loans in Alaska, Arkansas, Connecticut, Massachusetts, Rhode Island, Vermont, or Washington, D.C.

Speed and funding

LendingPoint often issues a decision within minutes to hours of applying, and funds are typically sent by ACH as soon as the next business day after you e-sign. The entire process happens online.

OneMain says funds can be available within an hour of closing through its SpeedFunds debit card, or in one to two business days by check or ACH. Many applicants are asked to visit a branch in person to verify identity, income, and employment before closing.

Where each one wins

• LendingPoint — a lower starting APR (7.99% versus 11.99%) and a longer maximum term (72 months versus 60) that can lower a monthly payment.
• LendingPoint — a higher loan ceiling ($36,500 versus $30,000) and an entirely online process with a soft-pull rate check.
• OneMain — no published minimum income (it asks for a verifiable income source, not a dollar threshold), plus a secured loan option using a vehicle as collateral for a lower rate.
• OneMain — a physical branch network (1,300+ locations) for in-person support, and funds available within an hour of closing via SpeedFunds.

Bottom line

If you can document at least $35,000 in verifiable income and want a lower starting rate over a longer term entirely online, LendingPoint is the more flexible path. If your income doesn’t clear that bar, or you want a branch to sit down in and a shot at a lower rate by putting up a vehicle, OneMain’s secured option and in-person support are the more familiar route. Either way, get an actual quote from both before committing, since each lender’s fee and rate can vary by borrower. Our guides on how installment loan interest actually works and bad-credit installment loans cover the math and red flags, and you can start a loan request. Full details are in our LendingPoint review and OneMain review.