One Main Financial CitiFinancial Said They’d Give Me a Consolidation Loan. – David

“Dear Steve,

i was thinking of taking a loan from a company that mailed me an approval…
one main financial inc…they have a local office and say i am pre-selected for a $5,000 loan..
i imagine you have much experience with these types of questions….
would you take a loan with this company?… onemainfinancial.com/info ?

Dear David,

I’m going to make some general statements but they seem to apply in your situation. Lendiners like One Main Financial, formerly CitiFinancial, have appeared to focus on high interest rate loans and target certain populations and borrowers.

I would be suspect about what the terms of the loan are. Did they share with you what the interest rate would be?

If you don’t currently know your credit score it would be a good idea to get your credit score for free through the link. If your credit score is above 700 then there are unsecured debt consolidation loans available at market rates through groups like Lending Club.

See if you can get some additional details about the loan they are offering you and tell me a bit more about your situation. I’ll help you get headed in the right direction.

Do you even need a loan?

Please post your responses and follow-up messages to me on this in the comments section below.


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Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.
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1 thought on “One Main Financial CitiFinancial Said They’d Give Me a Consolidation Loan. – David”

  1. Steve is right- they target certain customers and their APRs are very, very high. I’ve gotten several of these offers in the mail but just throw them away after applying once (5,000). I wasn’t approved after being pre-approved. They said I’d certainly be appoved with a cosigner. I added one and still wasn’t approved. I say take a different route. I’ve called my cards and outright asked for them to credit me a few months interest and suprisingly they all said YES.


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