We are currently not accepting new applications but continue to service existing customers.

Click here to view OppFi credit card closure information.

OppFi Card > FAQs



Why are you closing my account?

OppFi and First Electronic Bank have made the decision to discontinue the OppFi Credit Card Product going forward.


What will happen to my user data?

All customer activity data has been removed from our systems. You will no longer need to request for it to be deleted in accordance with CCPA regulations. However, certain data must be retained to fulfill industry standard rules and regulations.


I use my card to pay a recurring bill and it was declined / disrupted my service and/or resulted in a late fee. Are you going to reimburse me?

We’re very sorry for the inconvenience. OppFi is forgiving your account balance. If there are any additional concerns please contact OppFi at 1-866-605-0447.


When does my balance need to be paid off?

We are forgiving balances on all OppFi credit card accounts. You do not need to repay the outstanding amount. Offsetting credits will be applied to your account bringing the outstanding balance to $0.00. This will include all principal transactions, fees, and interest.


What if I overpaid on my account?

If you have overpaid on your account and you have an excess balance, we can process a credit balance refund for you at any time. However, all accounts with credit balances will have credit balance refund checks processed between 12/15/2023 and 1/28/2024.

Please call us at 1-866-605-0447 to request a credit balance refund check to be issued to your address on file.


What impact will closing my account have on my credit score?

Please be aware that OppFi is a data furnisher, meaning that we supply information to the credit bureaus. That information is then used by the bureaus in order to calculate a credit score based on their criteria. Every consumer has a different mix of credit history and accounts, therefore OppLoans cannot advise or predict how our product would in turn impact your credit score. If you have questions about what impacts your credit score or how it is calculated we suggest reaching out to each bureau directly, as this may vary bureau to bureau.


Can I opt out?

No, we are taking this action on all OppFi Credit Card accounts. If you are a Customer whose billing address indicates they are located in the state of California, your account will be notified on 12/15/2023 and will be closed on 1/15/2024. If you are a customer whose billing address is outside of the state of California, your account will be closed on 12/15/2023.


Will there be any tax implications?

The IRS requires that in certain situations where debts have been forgiven or canceled of $600 or more that it must be reported as taxable income. If your balance was forgiven and the amount is $600 or more you will receive a 1099-C form from OppFi delivered to your email address on file in January of 2024.


Can I request an installment loan from OppFi?

You are more than welcome to apply for an installment loan. Please note, all applications for new loans are subject to a credit approval process.

California Residents, view the California Disclosures and Privacy Policy for info on what we collect about you.