Personal Loan Reviews Advertiser Disclosure

Prosper Personal Loan

4.7 out of 5 stars
455 Reviews

From Borrowers in the last year

ADDITIONAL RATINGS YOU MIGHT FIND HELPFUL

Application Process

4.5 out of 5 stars

Customer Service

4 out of 5 stars

4.5 5

Compare Personal Loans

Check out rates on new loans or refinance an existing loan.

SHOP PERSONAL LOANS
Collapse

Most Helpful Positive Review

Aug 23, 2016
Easy process and approved
ingenuity1 Borrower

I was not planning on applying for a loan, but I received their mailing. I thought this may be a good thing. I do not have alot of debt, but what I have, can be consolidated. I applied for a 12,000 dollar loan and approved within 24 hours. Funds were dispersed within 48 hours. Now I have one bill at a lower interest rate. I am thrilled!

more ...

Was this review helpful?

 

Most Helpful Negative Review

Jan 26, 2016
Just happened
ishmael62 Borrower

I had credit karma share my information to get some pre-approved numbers. I checked out prosper and unfortunately, I guess I did not read well enough. Entering my information and checking that I accept Prosper T&C as well as them checking my credit apparently means I accept the loan. No signature, no contracts, just a checkbox. In addition, I couldn't adjust the original request and everything just went and got processed without any further consent. I also called them up, because my FICO 8 was higher than what Credit Karma said, to see if we could get better rates or lower closing fees. I was told that it's all done by computers and algorithms and they could do absolutely nothing for me.

Maybe I should have read more about it first. But I got a good loan at a lower rate for my debt consolidation. Funds got to me within a week of "applying". We'll see how they treat me

more ...

Was this review helpful?

 

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

Dec 03, 2016
Easy to Apply
Petionville Borrower

I did the pre-qualified and was offered $10,000. I accepted $5000 and continued the app process. They asked for some employment verification docs (paycheck stub, W-2). I was approved in 4 days and received the money in my bank account in 2 days. Painless! I did not give it a 4 becasue i haven't enev made my 1st payment yet.

more ...
Nov 30, 2016
Interest charged scam
gwpreston Borrower

Although touted as an 'online' company, Prosper doesn't appear to be setup for ACH transfers as my bank has to send a paper check.  Other companies post the payment on the day received, regardless of how long it takes them to proces.  Prosper thinks it's customers should pay for it's ineffiencies by charging interest on the processing time.  Last payment sent took 5 days after received to process and post, with 5 days of additional interest charged.  A frustrating call to 'CS' reveals that Prosper's policy is to take 10-15 business days to process a paper check, charging interest all the while.  Suggested that I setup AutoPay (read reviews on this scam) or that I login to their website every month to make a payment.  

more ...
Nov 30, 2016
Interest charged scam
gwpreston Borrower

Although touted as an 'online' company, Prosper doesn't appear to be setup for ACH transfers as my bank has to send a paper check.  Other companies post the payment on the day received, regardless of how long it takes them to proces.  Prosper thinks it's customers should pay for it's ineffiencies by charging interest on the processing time.  Last payment sent took 5 days after received to process and post, with 5 days of additional interest charged.  A frustrating call to 'CS' reveals that Prosper's policy is to take 10-15 business days to process a paper check, charging interest all the while.  Suggested that I setup AutoPay (read reviews on this scam) or that I login to their website every month to make a payment.  

more ...
Nov 30, 2016
Interest charged scam
gwpreston Borrower

Although touted as an 'online' company, payments from my bank had to be sent as a check.  Other companies post the payment and calculate interest based on when they received the check.  Prosper thinks it's customers should pay for their ineffiency by charging interest during the processing time.  Last payment I sent took 5 days for them to process after received and post on my account, with 5 days of additional interest.  A call to 'CS' was frustrating as the only thing I was told was that it was policy and that they can take 5-15 business days to process a payment.  Was suggested that I setup AutoPay or login to their website every month to make a payment.  Will not do business again.

more ...
Nov 30, 2016
Very helpful and convenient.
Anonymous Borrower

The process is quick and terms are great.  Would never have been able to pay off my high interest credit cards without this loan.

more ...
Nov 29, 2016
Very good rates for high credit customer
Anonymous Borrower

Rates are very competitive, although not the best.  However, their ease of use and industry crediblility are very strong.

more ...
Nov 29, 2016
Fast and easy!
Anonymous Borrower

Consolidated debt into one easy payment at much lower interest rate

more ...
Nov 28, 2016
CREDIT KARMA APPROVED.. I AM A BELIEVER

Seamless App . EASY ONLINE JOB .....use smart phone take pics of stubs and w2.  once they verify you pay your bills on time and have the income... The funds were there within a week of the process . they have a seamless portal to all the majors banks so deposits and automatic bill paying is a breeze.  we dumped our high interest credit cards for a high interest loan. ( the american dream part of this is) ...we are looking at a 100 pt credit score increase from 650 to 750.... we took 80% of the loan and paid it directly to debt.... to the credit card companies. Now FORWARD 6 months to a year later we can get ANOTHER loan again for a third of the cost of this one.... .. we have strolled  right out of  unmanaged debt  and should be nearing a 800 credit score in less than a year....CREDIT KARMA IS ONE OF THE BEST THINGS TO EVER HAPPEN TO OUR FINANCES. PERIOD

more ...
Nov 28, 2016
Fast and easy
Anonymous Borrower

It was a quick process and I had the money in less than a week. 

more ...
Nov 27, 2016
Timely delivery of product I applied for
Anonymous Borrower

I've only had this loan for a week and haven't gone through the payment process yet. I got pre-approved for a consolidation loan through the Crédit Karma site. I've consolidated my payments and will be paying much less for my loan than for my minimum payments. So far I'm happy with Prosper.

more ...
Add a Review

Add Your Review

I Own It I Had It I Applied

Please state your experience.

How would you rate this loan overall?

Please select a rating

What should others know about this loan?

Optional

How was application process?

How was customer service?

Join the Credit Karma Community

It’s free, and you’ll get tools and info that can help you improve your financial health:

  • Credit scores and reports
  • Credit monitoring
  • Personalized recommendations

**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.