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mobuzzbee

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Any reviews on the Lenny app... the credit line that helps build your credit score?
A few of my friends have opened credit lines with the new Lenny app (only in California I think right now) and so far they only have good things to say. It has great reviews in the App Store (apple). Anyone else have any experience with it? I'm thinking of applying...

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Was Told PreApproved But 24 hours 👎🏻

So no i stant approval like stated before. Which sux. I pray this doesnt hurt my score guys. I regretted ut the moment i pressed the button. I didnt know exactly what this meant.

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Isn't LOC calculated just like a CC? If so what benefit would I get from Lenny LOC, that I can't get from cc? I always PIF. I guess the Eq08 rocks.

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If it is not available in a wide area, it is likely that very few here have even heards of it.  I haven't and I live in Oregon.

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I've not used it.  It appears to be a line of credit that you can drop into your bank or a friends bank account for about 9% interest.  It was not clear on how the interest was computed. They report only to TU and Equifax.  

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Just Signed Up

Key takeaways for my experience signing up:

- It doesn't affect your FICO score to apply, sold me on trying to sign up.

- Received instant $100 Line of Credit (im between 650-670 credit score currently), and a notification that it may increase in 24 hours as the application completes.

- Spoke to rep earlier and Lenny currently reports to Equifax, adding TransUnion at end of month and plans to add Experian by end of year.  

- From my research it's still currently limited to California residents. 

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