LendingClub Personal Loans Reviews

4.7 out of 5 stars
526 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

Aug 18, 2018
Quick-Improved credit score
Suzy39 Borrower

Very quick and painless process.  NO additional paperwork needed.  Had a 670 credit score and received approval up to $40,000.  I took out $18,000 to pay off credit cards and to give me a little extra to pay for car repairs. Received the loan at the end of June and my credit scores are now 746 Transunion 753 Equifax and 752 Experian.  I had the option of 3 years with a 10% interest rate of 5 years with a 14% rate.  There was a 6% origination fee but totally worth it in the grand scheme of things financially.  I took the 5 years with the plan to pay it off early since there are no prepayment penalties.  Wish I had gone this route earlier.  Would have saved me a lot in interest fees.  One thing to consider with the personal loan route is it shows diversity in loan types.  If you don't have a car loan or a mortgage but have multiple credit cards - this is definitely a GREAT way to boost your credit scores.  It allows you to keep your credit card utilization under that 10% mark that is the holy grail in FICO scores.  But this loan isn't calculated into that scheme.  

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Most Helpful Negative Review

Apr 26, 2019
Par2072 Borrower

Lending club likes to make true offers (not pre-approved offers.) Then when you go to finalize the turn you down. Nothing changed on my credit reports from the initial offer and trying to close the deal.

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

Jul 19, 2019
FAST AND EASY

I’ve never done anything like this but was looking to consolidate my high interest credit cards. Lending club was super easy to understand, fast approval , and I had my money in my personal checking account in two days and credit cards paid off in 5. Well worth it! Highly recommend. 

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Jul 19, 2019
Break their contract- Be Warned!
Pember27 Borrower

I applied for a loan, then cancelled same day and was told they had already processed the funds and I would have to wait until they posted to pay them back in full within 30 days. 

As they paid my credit cards directly, the money was never in my checking account. It has been 6 business days and Lending club pulled the full amount of the loan out of my checking account. Now my account is negative and when I called they said there is nothing they can do. I am looking at my bank account being closed for insufficient funding, multiple fees for having a negative account, and now I have no money for living until the credit cards refund me. 

They broke their contract and lied to me and put me into a horrible financial situation.  I would never refer them to anyone. Period. 

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Jul 18, 2019
Fees =high payment & high interest

Good news - Super fast approval and check.

BAD NEWS = They keep a Chunk of what you borrow as a “loan fee”.

On top of that, Hi loan payment and long pay off directionthey charge high interest. So you don’t even get what you actually borrowed!

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Jul 15, 2019
Easy and quick
BVD1966 Borrower

Interest is high but the overall process was quick and easy, customer service was great just wish the interests wasn't as high on these loans. Looking to apply for another loan to pay off some debt soon

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Jul 03, 2019
I Applaud Your Company!
Vee1964 Borrower

Thank you for approving me for a loan when some other companies wouldn't.  I was able to consolidate some bills and take care of other expenses. Your application process was quick and easy and the money was in my account in a matter of days. Now I'm off to a fresh start! I can't thank you enough!

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Jul 02, 2019
Bogus, won't get what you want

On line they make it seem really easy to get the amount you are looking for, YES if your credit score is over 700 as a minium. I was "approved" for $10,000 but when they contacted me the next day they said they could only give me a third of that, and still wanted me to pay almost 35% interest. Although on the website I was qualified for the $10,000 and the interest although was at 23%, was still way lower than the 35% they said I could get with the lower amount. What a BOGUS website, and basically CLICK BAIT

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Jun 17, 2019
Horrible customer service
VSCguy Borrower

I have one paid off loan from Lending Club, one with three months left and another open loan.  The company is a decent option if you are looking for a personal loan, you just need to hope you never need to contact them for any type of customer service.  Absolutely one of the worst experiences I've ever had dealing with a companies customer service.  Over the course of three days I spoke with 10 different people including 3 alleged supervisors.  Despite Lending Club owing up to the error on my account being their fault they were extremely slow and remiss to correct the issue they caused.  Not only did the error Lending Club make throw my finances into chaos for a week but I was also repeatedly lied to by the people at Lending Club.  I was told on three occassions that I would be contacted by a supervisor, that never happened.  Despite being told multiple times my issue had been "escalated" that still resulted in it taking a week to resolve my issue.  An issue that could literally be corrected with a few keystrokes.  When LC needed to refund a fee I was hit with due to their error it was done within minutes of me calling.  Yet when LC needed to refund money that they improperly took from my account, now suddenly there's a process and it takes time and there's nothing they can do.  

There are many companies out there offering personal loans, I highly suggest if you need a loan you seek out one of them and avoid Lending Club like the plague.

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Jun 14, 2019
EXPENSIVE MONEY !!!!
euroboy65 Borrower

A very expensive option for the consumer

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Jun 05, 2019
Great Option No BS
izzy101902 Borrower

Lending Club will help out getting the loan. Easy, mine took 3 days and I was all funded. 

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Jun 04, 2019
Awesome!!
CSM2014 Borrower

I wanted to pay off debt quickly and with less expensive Annual percentage rates.  Lending Club helped me do it a few times.  As long as you have good credit, pay your debts, you should hav no problem.  Both times I used Lending Club, I was approved instantly and the money was funded to my account within less than 24 hours and it saved me a lot of money in the end.  I am grateful for Lending Club's services!!  Thank you!!!  

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Jun 04, 2019

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Jun 05, 2019

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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.