Lending Club Personal Loans Reviews

4.7 out of 5 stars
1567 Reviews

From Borrowers in the last year

ADDITIONAL RATINGS YOU MIGHT FIND HELPFUL

Application Process

4.5 out of 5 stars

Customer Service

4.5 out of 5 stars

4.5 5

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Most Helpful Positive Review

Apr 20, 2017
Breath of fresh air
pan27718 Borrower

If you do your reading, understand that you will have a monthly payment, it is just what you're looking for if you're like me and didnt' use your money wisely and racked up almost $15k in credit card debt.  Just like you I made silly purchases, and didn't pay off my credit cards at the end of the month, thinking I can pay these later, or it's not that bad. All of the sudden I found myself putting 200-300 on each credit card per paycheck. Living paycheck to paycheck while trying to keep up with personal life and normal expenses (i.e. rent, utitlities, cell etc).  It was embarrasing, among my friends and my partner. It truly was embarrasing having to say no to certain things because you didnt have the money or trying to make up excuses.  It is stressful and it just sucks.  Having my credit cards say $0.00 literally almost made me cry when I saw them.  I still am paying my loan off (3 year loan), but the monthly fixed payment has allowed me to not only manage my finances much better, but also take some additional money to have things like Emergency Fund and a little bit of savings. Yeah I know I should be paying it off more aggresively but I thinks it is important to also have an emergency cash fund somewhere.  

The process takes about a week and it is nerve wracking because you do not know if you're approved or not.  My credit score was around 725 but my age of credit history was less than 6 years so someone took a chance with me and I thank him/her!!!!  I am thankful for Lending Club giving me an opportunity and I hope that with my on time payments I showed that I was a smart choice in lending.  I look to do the same thing for someone else in a not so distant future.  

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Most Helpful Negative Review

Apr 06, 2017
24% interest on 670 credit score
tn1974 Borrower

Thank goodness I just paid off my loan with them and let me tell you, this was a bad deal to even get a loan. I had a credit score of 670 and applied for and was approved for a $12,600 loan through lending club. I wanted to consolidate my credit card dept and lower my monthly payments. BIG MISTAKE. When I clicked to get this loan it say APR of 5.6% I thought that is what I got. NOPE it was $12,600 at 24.49% interest rate and a 29.19% APR for 36 months. This was higher than my credit card payments. I didn't see that small print until after I already paid the credit card companies with this loan. My payments to Lending Club were $495 a month only $240 went to principal. So, in that first month, I immediately tried to think of a way out of this fiasco so I went to my Captial One Credit card and asked them about a interest free period and they increased my credit limit to 11,400 with 0% interest for 18 months. Well I owed Capital one money so I didn't have that full amount available, but I did transfer $10,997.59 to Lending Club and they put $10,755.47 toward principal and $242.12 toward interest. If you make additional payments, like I did you still owe for the next month you cannot skip a month. This left me with a $1,108.37 principal balance. Well I wanted to get rid of this rip off company and finally get my finaces under control. So I got a home equity line of credit through Neiborhs Credit Union (I SHOULD HAVE DONE THIS FIRST).  I went to Lending Club and got the amount of my payoff, well the payoff date was supose to be good through the 13th of April but nope it wasn't, I sent them what I "thought" was the payoff according to them online, but nope I still owed another $57.00 I called Lending Club and they told me, in order to get a "accurage" pay off you have to call them. So finally as of today April 6th, 2017. I am no longer a slave to Lending Club and their out ragous interest rate. 

If you need a loan, and you have a 660 score or higher go to a credit union or even a bank. Neighbors Credit Union gave me $15,000 credit line with 5% and its a 15 year loan which means, the $98 I am paying Neighbors can be paid off in the same time frame as Lending Club and it would be less interest and less money over all but..I can also take out from the line of credit if I need to, rather than putting it back on my credit cards.  

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These reviews were written by current and former borrowers in the last year.

Dec 17, 2017
loan
Anonymous Borrower

i did not expect a hard inquiry, but i got one. Had I known that would happen I would have gone with someone else. Otherwise I was pleased

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Dec 16, 2017
Fast ,easy and great terms.
rew53 Borrower

Great customer service.Quick and easy. Great terms.

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Dec 16, 2017
amazingly, fast and easy!!!
cleo103 Borrower

I have been working very hard towards this goal and Lending Club gave me the opportunity.  Other companies so call pre-approve you but at the end of the day just waste your time and energy.  It takes them 7 days to tell you what Lending Club tells you within hours or just one day.  Thank you so much for the chance!!! They were recommended by Credit karma and I am really glad that I took the leap, after so many let downs i was really skeptical.

They took a chance with me which I feel very blessed specially this cloese to the holidays. 

You guys are amazing!!!

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Dec 15, 2017
Credit card consolidation
Anonymous Borrower

It was very easy to apply and very quick to get approved! The funds were deposited in my account within one day after my loan approval.

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Dec 15, 2017
They charge high interest, not worth it
Edward15211 Borrower

Credit cards with low interest are better

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Dec 15, 2017
“ Quick and Easy ”

This loan request for $10000 was so painless. They pulled my credit, verified my email and phone number. Then I was approved and the funds were deposited in my bank less the $600 origination fee. Auto payments were set up and I can do early payoff without penalty. It came in the nick of time, of just 3 days after I requested it. Nice, and thank you.

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Dec 15, 2017
Simple, efficiency, professional
Anonymous Borrower

Simple process, well informed, excellent customer feedback, efficient

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Dec 15, 2017
Anonymous Borrower

Amazing experience!!! Quick, easy and no hassles. Got money deposited in my bank within 2 days of approval. Low monthly payments and easily set up for Autopay through my bank. This is a great way too pay off credit card debt with one low interest rate. 

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Dec 15, 2017
Consolidated Credit Card Debt
Anonymous Borrower

This was the best experience that I have had online.   I was pre-approved on a Sunday, Monday morning I received the confirmation that my loan was approved under the terms propsed on Sunday!   Tuesday I had the money in my bank account.  Smoothless process.  With this experience I will also check out the mortgage loan offers!   

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**Annual Percentage Rates, terms of loan, and monthly payments presented are estimated and were created based on analysis of information provided by the consumer and available rate information from lenders. While efforts have been made to maintain accurate information, the loan information is presented without warranty and the estimated APR or other terms presented do not bind any lender. Lenders generally have a range of available APRs (for example, a lender’s range might be 2% to 12%) and only borrowers with excellent credit will qualify for the lowest rate available. Your actual APR will depend upon factors evaluated at the time of application, which may include credit score, loan amount, loan term, vehicle information, credit usage and history. All loans are subject to credit review and approval. Additionally, model year, loan-to-value, minimum loan balance mileage, income, debt, etc. restrictions may apply. When evaluating offers, please review the lender’s Terms and Conditions for additional details.