LendingClub Personal Loans Reviews

LendingClub Personal Loans Reviews
4.3 out of 5 stars
139 Reviews

From Borrowers in the last year


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

Aug 09, 2019
a great way to consolidate
FettMmy Borrower

We were so hesitant to apply with Lending Club.  We knew nothing about peer to peer lending and there’s so many scams these days.  After researching them we applied.  We put in some information and it came back with an offer.  All we had to do was a phone verification.  We didn’t submit any documents.  We are so grateful they approved us.  We ended up getting the amount we requested.  We tried Prosper and BestEgg as well and they denied us so we were so excited that Lending Club approved us.  We were paying $1300 a month in credit card/loan debt and now we only pay $550 a month with this new loan.  We were paycheck to paycheck and now we have some room to save.  The only downside is we have a higher interest rate at 22% but our bank told us once we were above 700 with less than 10% credit card utilization they would refinance us at 9%.  But 22% is still lower than our credit cards and loans so we are still saving money.  Here’s a breakdown:

Monday morning 4am:  applied, 663 credit score, 125k annual income, 76% credit card utilization, requested 20k loan

Monday morning 11am- phone verification

Wednesday 10am- approval email, and then funds hit right after midnight 

i would highly recommend them!  They were a life saver. 

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Most Helpful Negative Review

Mar 08, 2019
Ok so far.
badinrams Borrower

The application process was easy. Took a bit of time because I had to track down some documents like pay stubs and my w2. But once I was able to send copies everything went smoothly and I had the money in about 3 business days. Only real problem I had was the amount I recieved. They shave a bit (almost 6% in my case) off the amount to pay their fees. So ask for a little more than you actually need or you won't have enough for whatever you need it for. In my case I was paying off credit cards so I ended up with two cards I couldn't pay all the way down. It wasn't really made clear how much they would take until after I was approved or I might have asked for more. It said something like "2-6% based on your credit worthiness" and since I had a good credit score (730) I thought it would be on the lower end and I would have enough since I didn't want to borrow more than I needed.

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

Jan 23, 2020
Easy and convenient with no hidden fees
jenibel409 Borrower

I'm now on my second loan through Lending Club. I first responded to a recommendation on Credit Karma and was instantly approved for a small unsecured loan for CC consolidation. Their application process is seamless and the loan proceeds are deposited directly into your bank account. I setup automatic payment during the application and it was withdrawn as expected every month. After establishing a positive payment history with them, I was invited to apply for a new loan which I did. The rate was very reasonable considering my credit file and it was again a very simple process. 

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Jan 20, 2020
Lending Club great choice!
DZizzy Borrower

Over the years, I have had 3 Lending Club loans; not just for debt consolidation but also for some unforseen issues when my shower pan failed and caused massive reconstruction costs.  EACH instance, Lending Club was there and quickly approved me.  They are not like a bank that won't take chances on people.  If you have less than perfect credit, Lending Club seeks out investors who are willing to take the chance on you.  The precentage rates charged are better than ANY bank loan of credit card option.  Application and approval process is fast!  Within a few days, the money was in my bank account and I was able to start writing checks to all the subcontractors.  Thank you Lending Club for being such a life line when I need you!

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Dec 20, 2019
The loan application process was great!!
sheilad85 Borrower

A quick and easy process and all online! A pleasure to do business with this company. No hassles and I was approved very quickly! Thank you so very much!! 

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Nov 21, 2019
Hands Down the Best !!!!
SoonerFan10 Borrower

100% honest review!!! I just applied on November 20th and was approved instantly for up to $32k. Only needed $22k to pay off all my high rate credit cards. I just got email today that the loan is fully approved and the cards will be paid in the next 2-4 days. WOW!!! I got $22k for 3 years at under 7%. I have 13 active accounts right now with all 100% on time payment history and it's been very hard to get approved by anyone even with that great pay history. But not with Lending Club. This is such an amazing help on me and my family. I was paying over $1k month just for minimum payments on my credit cards and not getting anywhere. Now I pay $660 and will have them paid off in 3 years. Not to mention my score will go drastically up. Lending Club also have the lowest fees of all the places I tried. If your looking to consolidate your credit card debt then this is truly the only place to go!!! 

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Dec 19, 2019

your review sounds like an advertisement. Do not worry about your scores because it sounds like you do not need to get any more credit. Please do not go and charge them up again. For you and your family's financial future

Nov 04, 2019
They steal money from you
mikeraz Borrower

In August in took out a loan with Lending Club to pay off 2 credit cards. They sent payment to one card and the funds where applied to my credit card. The other card was never paid, I called the credit card company and they say payment was never sent to them. I called customer service at Lending Club in September and they said to me that id credit card payment was not accepted by card company the money would be sent back to Lending Club and they would apply money to my bank account. It is now November. NO money has been applied to my bank account and I still owe full amount to Lending Club less the 2 payments I have made. As far as I am concered is Lending Clud stole $1355 from me. Never Ever do business with these people. They are crooks.

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Nov 04, 2019
They steal money from you
mikeraz Borrower

I took out a loan in August to pay off two credit cards. They paid one credit card but not the other. I called customer service in September and they said that if the credit card company didnt accept my payment it would be sent back to Lending Club and they would deposit it in my bank account. Its not November. I still owe the credit card company and I still owe the fucll amount of the loan. So Lending Club where is my $1355? As far as I am concered you stole $1355 from me. 

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Oct 23, 2019
Easy & smooth transaction
Myoreo2001 Borrower

Being self employed alot of places give you a hard time gettig loans NOT them they helped us and the whole process was not bad at all. Took 3 weeks because of beibg self employed but patience was a virtue! We would use again

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Dec 19, 2019

what all do they ask for

Oct 22, 2019
Fast, convenient and professional
MexiTexi Borrower

I thought the application process was a little long (very detailed), but there was always knowlegeable customer service people ready and will to walk you though the steps.  I finished the process on Friday and the cash was in my account on Monday.  I can't say anything other than great things about this company.  Awesome experience!

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Oct 21, 2019
Easy to work with!
pswft Borrower

Great for self-employed, small business owners. As an independent contractor with a business account, it's difficult navigating the whole proof of income scenario. All of my income goes through my business account. This was not an issue with them. I was able to get a loan quickly with little documentation, just connect my bank account. A year later I was offered another loan.
It was for double the amount, half the interest.
same monthly payment. I took the loan and consolidated the first one into it. Second time around I had to submit tac info... but I didn't get any hassle at all.
This has been one of my best loan experiences. Also, you can go through the entire loan process and nothing hits your credit report until funds are dispersed to you! So you don't risk not getting approved and taking a hard hit. This is a place that rewards your business.

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Oct 10, 2019
Very easy to apply, and no issues.
ANNPOWER47 Borrower

I've had my loan for a year, receive email reminders of my automatic payment, and continue to get pre aproved offers.   Very happy with them.

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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.