LendingClub Personal Loans Reviews

4.7 out of 5 stars
462 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

May 06, 2019
Lending Club is the Best!
db1968 Borrower

This is my 3rd loan using Lending Club by going thru Credit Karma. They are the fastest and easiest way to get a loan and if you have good or great credit there is no paper work that you need to send them. I got a $19000 loan at like 13% not to bad and it took 3 days to arrive in my bank account! I consolidated debt and saved $500 a month now!

Thank you Lending Club and Credit Karma for having such great services!

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Most Helpful Negative Review

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

Aug 16, 2019
Keep fee upfront.
Katyrose48 Borrower

I just paid this off & they want me to borrow more—at double the interest I paid on the one I just paid off. Give me a break! I thought sure I’d get part if not all of the initial fee back since I never missed a payment, but no, of course not!  Never again!

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Aug 11, 2019
no more from here

The loan process was pretty simple but it took longer than any other loan i have ever gotten. The are not very efficient at giving you all the imformation you need as far as when bills are going to be payed. You have to have them pay a certain amout of the loan to your bills,  but they won't tell you how long it takes for them to pay your bills, so plan way ahead and allow plenty of time or you might have to pay your bills before they do and end up with a credit that will take awhie to get back from your creditor. Overall the loan was simple but only will go with them again if I am desperate.

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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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Aug 06, 2019
Garbage customer service

Absolute trash customer service and bookkeeping.  I had to call 3 times over the course of my loan to correct their financial errors.   This includes my final payment which they didn’t credit my full payment and continued to charge me interest until they resolved the issue.  If you have a choice don’t deal with these people.  

Customer service....garbage   They can only see what you can see on their site and have no authority to do anything or look at anything so you end up with a supervisor who is equally useless  

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Aug 03, 2019
Great!
TCAL4284 Borrower

I applied Thursday morning online was approved for $17,500 with a 663...I recently opened up three AMEX cards so I had a credit score drop from 728 but regaurdless of the new credit I was still able to obtain the loan no problem...employment verification was quick, the only thing I didn’t like was giving access to my bank account that was different but apparently spends up the process. The origination fee was high but hey...I needed the cash. Money was in my account @ 5 am Saturday morning. So 48 hour funding. Just be sure to call even though the automated system will tell you you’ve done everything ...press 0 a few times to speak to someone so you can get expedited. 

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Aug 03, 2019
Great, fast; easy
TCAL4284 Borrower

I applied Thursday morning online was approved for $17,500 with a 663...I recently opened up three AMEX cards so I had a credit score drop from 728 but regaurdless of the new credit I was still able to obtain the loan no problem...employment verification was quick, the only thing I didn’t like was giving access to my bank account that was different but apparently spends up the process. The origination fee was high but hey...I needed the cash. Money was in my account @ 5 am Saturday morning. So 48 hour funding. Just be sure to call even though the automated system will tell you you’ve done everything ...press 0 a few times to speak to someone so you can get expedited. 

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Jul 29, 2019
Great experience!!
travday27 Borrower

From start to finish on getting loan was super easy! Was approved super fast and had my loan in my bank account in a few days. So far so good. Very happy with the process

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Jul 29, 2019
Easy to apply and get

Loan application process was quick and easy. Interest was high but competitive with others. They are easy to communicate with. I was able to pay it off a little early. Happy they were there when I needed them to get out of a jam. Would use Lending Club again

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Jul 25, 2019
Fast, easy, up-front pricing!!

I admit that I was originally nervous and reserved about taking advantage of this personal loan.  However, I'm really happy I did.  I had roughly $25K in credit card debt and was able to get a loan with a locked-in interest rate.  Granted, it was high, but it was less than the rates I was paying on the cards.  Another great aspect is that I was able to pick how long I wanted my loan to exist.  I picked the 36 mo. loan and could have chosen a 4 or 5 year loan period.  I got the $ quickly, my cards went to $0, and the remaining $ went into my checking.  My credit score went up 87 points, and that doesn't include all the accounts that were paid off!  I couldn't be happier with LendingClub and appreciate their assistance!     

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Jul 23, 2019
application and approval quick and easy
sunturtles Borrower

I was approved for enough to pay off all debts in three year time been with them for a year and absolutely love this company. I would definitely use Lending Club again in the future!

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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

Can you make more than the required payment

 
Jun 05, 2019

What is the interest rate?

 
May 24, 2019
New classic automobile
mivon Borrower

Easy folks to work with & fast.

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1 Reply
Jun 05, 2019

You make no mention of interest rates. What was the interest rate they gave to you?? The rate I was quoted was 24% HIGHER than that offered by two different car dealerships!!

 
May 19, 2019
The best decision I have made.
Capicola Borrower

The application process is simple and straightforward.  You can track your progress through the approval stage and, once completed, your funds are in your bank promptly.  Lending Club is easy to do business with.  

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1 Reply
Jun 05, 2019

What is your interest rate and what was the credit score, related to the loan??

 
May 16, 2019
Upfront with costs; helps rebuild credit
HPR99 Borrower

Interest rates are high, but if you are serious about consodating credit card debt and need to rebuild your credit then I would recommend it. I only recommend this loan if you’re consolidating high interest debt. The cost of the loan is disclosed up front and there were no hidden fees. 

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May 16, 2019

Enter Your Reply

 
Jun 05, 2019

What interest rate were you given?
Why did you choose Lending Club over, say... a bank?

 
May 15, 2019
Easy
NoMoAmbien Borrower

Ok first off let me say I accidently applied for this while on Ambien - first day taking it and I did this?!  But the next morning I checked out the friendly email, saw I was approved, paid off what was left on my credit cards for less interest and boom 792 Credit Score now! The CS is alittle meh.. But hey this is a great company overall.

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1 Reply
Jun 05, 2019

What was your interest rate?
What was it with Ambien?

 
May 06, 2019
Lending Club is the Best!
db1968 Borrower

This is my 3rd loan using Lending Club by going thru Credit Karma. They are the fastest and easiest way to get a loan and if you have good or great credit there is no paper work that you need to send them. I got a $19000 loan at like 13% not to bad and it took 3 days to arrive in my bank account! I consolidated debt and saved $500 a month now!

Thank you Lending Club and Credit Karma for having such great services!

more ...
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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.