SleeplessInPetaluma

1 Contributions 21 People Helped

Member Since: February 2015

Most Helpful Contribution

LendingClub Personal Loans

Mar 03, 2019
This is the way lending should be!
Helpful to 21 out of 23 people

I was fortunate to find this lender because of Credit Karma's recommendations on my account home page. I was interested in a balance transfer from a good, but high-interest no-frills credit card. I can't say I was looking for a specifically personal loan, but I'm glad I read through all the recommendations as The Lending Club's terms were excellent; the loan is closed-end with a 36 month term and will save us thousands of dollars over the cost of incrementally paying down the credit card. The application was smooth, trouble-free, and approval was received in under 2 business days. What's interesting to note is that our "credit score" varies a bit from bureau to bureau, and those scores range from 717 to 748. Another lender rejected us with a 717 score and Lending Club approved us with our 748 score; don't know if that's significant. However, the creditor that denied us poiinted to high usage of credit and too many installemnt loans...really? How can people re-organize their debt profile if "too many installemnt loans" is the go-to excuse? I'm thrilled that Lending Club (likely) took a closer look at our debt profile and has approval algorithms that are more realistic. Account setup has been a breeze with no technical difficulties whatsoever and we're set up for auto-payments; please know that paper check payments result in a $7 per check fee; not really a deal-brealer since most of our monthly bill payments are auto-drafts. I'd recommend Lending Club withourt hesitation to those with decent credit and sufficient income; thanks, Credit Karma and Lending Club!

Activity (1 Total Contributions)

LendingClub Personal Loans

Mar 03, 2019
This is the way lending should be!
Helpful to 21 out of 23 people

I was fortunate to find this lender because of Credit Karma's recommendations on my account home page. I was interested in a balance transfer from a good, but high-interest no-frills credit card. I can't say I was looking for a specifically personal loan, but I'm glad I read through all the recommendations as The Lending Club's terms were excellent; the loan is closed-end with a 36 month term and will save us thousands of dollars over the cost of incrementally paying down the credit card. The application was smooth, trouble-free, and approval was received in under 2 business days. What's interesting to note is that our "credit score" varies a bit from bureau to bureau, and those scores range from 717 to 748. Another lender rejected us with a 717 score and Lending Club approved us with our 748 score; don't know if that's significant. However, the creditor that denied us poiinted to high usage of credit and too many installemnt loans...really? How can people re-organize their debt profile if "too many installemnt loans" is the go-to excuse? I'm thrilled that Lending Club (likely) took a closer look at our debt profile and has approval algorithms that are more realistic. Account setup has been a breeze with no technical difficulties whatsoever and we're set up for auto-payments; please know that paper check payments result in a $7 per check fee; not really a deal-brealer since most of our monthly bill payments are auto-drafts. I'd recommend Lending Club withourt hesitation to those with decent credit and sufficient income; thanks, Credit Karma and Lending Club!