Editor’s Rating
1.8 / 5
Bottom Line: Plain Green personal loans are good for people with bad credit who need a small loan. The company offers loans of up to $4,500, with no origination fee and fast funding timelines.
This review is not provided, commissioned or endorsed by any company. Opinions and ratings are our own.
Pros
Cons
Plain Green Loan Review Summary
Plain Green loans are extremely expensive short-term loans offered by the Chippewa Cree Tribe, a sovereign nation within the U.S. Their interest rates range from 199% - 699%, and the loans must be paid back within 6 - 24 months. Although they don’t charge fees aside from a returned payment fee, they remain very costly. People with damaged credit who need an emergency loan should instead try less expensive lenders that will accept applicants with bad credit or visit their local credit unions to see if any are willing to work with a low credit score.
The only real draw of Plain Green loans is a swift payout, as they provide funding as soon as the same day you are approved. However, there are plenty of other online lenders that offer the same quick approval and funding without the sky-high interest rates.
Below, you can see how WalletHub rates Plain Green personal loans in three major categories: Terms, Requirements & Application, and Reviews & Transparency.
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Plain Green Personal Loan Terms
APRs | 199% - 699% |
Loan Amount | $200 - $4,500 |
Loan Terms | 6 - 24 months |
Origination Fee | None |
Prepayment Fee | None |
Late Fee | None |
Minimum Credit Score | Good* |
Minimum Income | N/A |
Loan Purpose | Big Purchase, Emergency Loans, Medical Loans, Other |
Time to Receive Loan Money | As soon as the same day |
Other Requirements |
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*According to multiple third-party sources
Plain Green Loans Rates, Fees & Other Terms
Category Rating: 26% (1.3 out of 5)
- Overall APR range: Plain Green personal loans have interest rates of 199% - 699%. Plain Green loans are incredibly expensive because they are designed to be “emergency” loans for people who have no other options.
- How rates are determined: The exact rate you will get depends on your credit score, income, and existing debts, among other factors.
- Fees: Plain Green does not have any origination or early repayment fees.
- Loan amounts & timelines: Plain Green loans range from $200 - $4,500 overall. However, the maximum loan amount for first-time customers is lower than for returning customers. Repayment terms of 6 - 24 months are available.
Plain Green Loan Requirements & Application Info
Category Rating: 70% (3.5 out of 5)
- Minimum credit score: Not disclosed, but Plain Green says they cater to “subprime” customers, meaning people with damaged credit.
- Citizenship: You must be a U.S citizen or permanent resident.
- Identification: You must have a Social Security number.
- Pre-qualification: Plain Green does not offer a true pre-qualification process. However, it does have an online calculator that can estimate your loan’s potential interest rate, payment size, and number of payments based on your desired loan amount and how often you get paid.
- Ways to apply: If you decide to apply for a Plain Green loan, you can submit an online application.
- Application timeline: You should receive a decision within one business day. You can get your loan funded as soon as the same day you are approved.
Plain Green Loans Reviews & Transparency
Category Rating: 30% (1.5 out of 5)
Plain Green does not have the greatest reputation. It has a subpar Better Business Bureau rating and has undergone legal battles over whether its interest rates violate state usury laws.
- Better Business Bureau: Plain Green is not BBB accredited and only receives a B rating.
- Consumer Financial Protection Bureau: The CFPB does not have Plain Green listed as a company in their database, but it does have a few complaints registered that mention “Plain Green.” Most have to do with high interest rates or debt collection practices.
- WalletHub: Plain Green has a score of 2.0/5, but there are only 14 reviews contributing to this score.
- Transparency: Plain Green is transparent about their high interest rates, and even says on their website that they are an “expensive” lending option. However, they do not disclose information about fees or certain requirements like having an SSN on their website. Representatives provided information about these details over the phone when asked, though.
Overall, Plain Green’s score suffers in this category because of their subpar reputation and mediocre transparency.
Summary: Plain Green Loans Score by Review Category
Category | Score |
---|---|
Rates, Fees & Other Terms | 1.3/5 |
Requirements & Application Info | 3/5 |
Reviews & Transparency | 1.5/5 |
OVERALL | 6.3/15 |
Other Key Things to Know
- Age: You must be at least 18 years old (19 years old in Alabama, Nevada, and Virginia).
- Bank Account: You must have an active and valid checking account.
- Late Fee: They may charge fees for late and returned payments, which will be disclosed in the loan agreement.
Plain Green Loans vs. Popular Competitors
Plain Green | Avant | Achieve Personal Loans | |
Reviews | ***** | ***** | ***** |
APRs | 199% - 699% | 9.95% - 35.99% | 8.99% - 35.99% |
Loan Amounts | $200 - $4,500 | $2,000 - $35,000 | $5,000 - $50,000 |
Loan Terms | 6 - 24 months | 12 - 60 months | 24 - 60 months |
Minimum Credit Score | Good* | Bad* | Bad* |
Winner | Achieve Personal Loans |
*According to multiple third-party sources
Methodology
In order to provide the most accurate review of Plain Green personal loans, WalletHub used 17 key metrics grouped into three overall sections: Terms, Requirements & Application, and Reviews & Transparency. We rated each section on a scale of 0 to 5, with 5 being the best, and then averaged the scores of the three sections to produce an overall rating for the loan.
- The “Terms” section includes information about how expensive the loan is, including rates and fees. It also takes into consideration how much consumers can borrow and how quickly they must pay it back. For companies where APR and fee ranges differ greatly by state, we used data from the most populous state serviced by the company. Plain Green personal loan terms do not fluctuate significantly by state, however.
- The “Requirements & Application” section examines how easy it is to apply for a loan and how long it takes to receive the money. It also looks at exactly who is eligible to apply.
- The “Reviews & Transparency” section measures the loan provider’s reputation as well as how clearly the lender discloses its terms and requirements. This takes into account user reviews and information from watchdog organizations.
The average of these three scores reflects how close a loan offer is to WalletHub’s definition of a 5-star loan. For more information, please read WalletHub’s full methodology.
Plain Green Loans Review FAQ(40 questions)
Editorial and user-generated content on this page is not reviewed or otherwise endorsed by any financial institution. Please keep in mind that it is not a financial institution’s responsibility to ensure all posts and questions are answered.
Most Popular
Upvotes
Does Plain Green do a hard inquiry?
Reply
Rick Bormin, Personal Loans Moderator
@rhandoo2020
Yes, Plain Green does a hard inquiry when you apply for a loan. This credit report inquiry will likely negatively impact your credit score and drop it by about 5 to 10 points, but you'll be able to get back on track with a few months of on-time payments.
Plain Green's hard inquiry will stay on your credit report for two years, but it won't affect your credit after one year, and the impact may subside before then. To see how your individual credit score may be affected by a hard inquiry, you can use the credit score simulator on WalletHub.
It's worth noting that some people may be uncertain about whether Plain Green does a hard inquiry because there's only a soft inquiry during the pre-qualification process. Soft inquiries do not impact your credit score. But that's just the first step, and a hard inquiry is required when you officially apply.
If not having a hard inquiry is important to you, lenders that don't do a hard pull at all include OppLoans, NetCredit and Integra Credit.
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1
Upvote
Can you refinance a Plain Green personal loan?
Reply
1
Grace Enfield, Content Writer
@grace_enfield
Yes, you can refinance a Plain Green personal loan using either a new personal loan or a balance transfer credit card from a different lender. By paying off your remaining Plain Green balance with a new, lower-interest loan or credit card, you will shift what you owe to the new lender and save money on finance charges.
How to Refinance a Loan from Plain Green With a New Loan
- Check your credit score. Checking your credit...
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Upvotes
Are Plain Green personal loans legit?
Reply
Rick Bormin, Personal Loans Moderator
@rhandoo2020
Yes, Plain Green personal loans are legit because Plain Green is registered to do business in the states it services, which is a legal requirement to be a legitimate lender. Another reason why Plain Green personal loans are legit is that the lender has a Better Business Bureau rating of B.
Still, you should note that Plain Green personal loans aren't “legit” if you use that word as a synonym for “good.” Plain Green personal loans...
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2
Upvotes
What banks are compatible with Plain Green loans?
Reply
2
Lisa Cahill, Credit Cards Moderator
@lisacahill
Most banks are compatible with Plain Green loans, both for depositing the loan money and for making payments on the loan. Plain Green does not work with certain online banks, such as Chime and MetaBank, though. If you have questions about whether Plain Green will work with your bank, you can call customer service at (866) 420-7157.
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Upvote
Does Plain Green offer medical loans?
Reply
1
Grace Enfield, Content Writer
@grace_enfield
Plain Green offers personal loans that can be used to cover medical expenses. Plain Green's personal loans offer $200 - $4,500 in funding with an APR range of 199% - 699%, repayment periods of 6 - 24 months and no origination fee.
Plain Green Personal Loan Info
- Loan Amounts: $200 - $4,500
- Repayment Periods: 6 - 24 months
- APR Range: 199% - 699%
- Credit Score Requirement: not disclosed, but cater to those with damaged credit
Before you officially apply for a loan,...
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1
Upvote
What types of loans does Plain Green offer?
Reply
1
Grace Enfield, Content Writer
@grace_enfield
Plain Green offers only one type of loan, personal loan. These loans offer dollar amounts from $200 - $4,500 with repayment periods of 6 - 24 months, and they have an APR range of N/A as well as no origination fee.
Key Facts About Plain Green personal loan
- Loan Amounts: $200 - $4,500
- Repayment Period: 6 - 24 months
- APR Range: 199% - 699%
- Origination Fee: None
If you think a personal loan is best for you, check out the...
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1
Upvote
Does Plain Green offer wedding loans?
Reply
1
Grace Enfield, Content Writer
@grace_enfield
Plain Green offers personal loans of up to $4,500 with an APR of 199% - 699%, depending on your overall creditworthiness. These loans can be used for any wedding-related expense, like the engagement ring, the venue, the cake or the honeymoon.
Plain Green Personal Loans That Can Be Used for Weddings: Key Details
- Loan amounts: $200 - $4,500
- APR range: 199% - 699%
- Credit score requirement: Not disclosed, but cater to those with damaged credit
- Repayment...
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1
Upvote
Does Plain Green offer dental loans?
Reply
1
Grace Enfield, Content Writer
@grace_enfield
Plain Green offers personal loans that can be used to finance dental work. Plain Green's personal loans offer loan amounts of $200 - $4,500, repayment periods of 6 - 24 months, an APR range of 199% - 699% and no origination fee.
However, if you're looking specifically for a lender that offers dental loans, you should look into SoFi, LightStream and Peerform. To see the top-ranked offers, visit the dental loans page on WalletHub. You can also use WalletHub's free pre-qualification tool to see...
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1
Upvote
Does Plain Green do home improvement loans?
Reply
1
Rick Bormin, Personal Loans Moderator
@rhandoo2020
Yes, Plain Green does home improvement loans. You can take out a personal loan from Plain Green and use it to pay for home improvement expenses, such as remodeling a kitchen, finishing a basem*nt, putting on siding or many other projects. Plain Green does not specifically refer to their loans as "home improvement loans," so you'll need to take out a general-purpose personal loan.
Quick Facts About Plain Green Home Improvement Loans
- APR:...
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1
Upvote
Does Plain Green do joint personal loans?
Reply
1
Rick Bormin, Personal Loans Moderator
@rhandoo2020
No, Plain Green does not offer joint personal loans, unlike some personal loan providers. A joint application allows two people to put their names on the loan and apply together, as well as share responsibility for paying back the loan.
Though Plain Green does not do joint personal loans, there are quite a few lenders out there that do. You can check out WalletHub's picks for the best personal loans that allow joint applications or cosigners to find...
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