LendingClub Ratings & Reviews

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LendingClub

(4.6 of 5) 3003 Reviews

95% of our customers would recommend this lender.

About LendingClub

LendingClub is America’s #1 credit marketplace, transforming banking to make it more efficient, transparent and consumer friendly. Since 2007, LendingClub has funded more than $26 billion dollars in loans. Through LendingClub, you can get a low, fixed...

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Customer Reviews

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3003 Reviews

(4.6 of 5)
  • Lender Review
    from Fountain, CO Confirmed LendingTree Customer
    (2 of 5)
    Recommended!
    Reviewed:
    Loan Type:
    Personal Loan
    Services:
    Closed loan with this lender
    Date of Service:
    August 5, 2017

    Loan

    I did get a loan and the process was fairly easy. I probably would not do another loan with the Lending Club due to the outrageous interest rate. When I saw what the interest rate was I should not have taken this loan out with the Lending Club but, not using my brain, I took it out anyway. If you are willing to pay an outrageous interest rate then go for it but, if you can find a different avenue to get the money you want with a decent interest rate I would do that.... Read More

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    Thanks for your feedback. In general our customers tell us that they're saving money with Lending Club versus their other options, but there are circumstances where that may not be the case. If you have a lower cost alternative, you should by all means take your best offer! For the lowest rates through Lending Club, credit score is only one factor. Other factors include low percentage of total outstanding debt versus income, a long history of credit with significant successful credit lines, and term and size of loan. You can visit our website to see how we set rates.
  • Lender Review
    from Iselin, NJ Confirmed LendingTree Customer
    (2 of 5)
    Reviewed:
    Loan Type:
    Personal Loan
    Services:
    Closed loan with this lender
    Date of Service:
    October 4, 2015
    Loan Closed On:
    October 8, 2015

    I got in and gout OUT!

    If your credit is less than stellar and you're desperate, then maybe I'd go with Lending Club. The interest rate is exorbitant and there is a fee to obtain loan. I got on my feet and refinanced this loan and lowered my payment by more than HALF.

    Was this review helpful?

    Hi, we're sorry you were unhappy with your experience. As a marketplace, Lending Club generates revenue from fees including transaction fees from our platform’s role in matching borrowers with investors to facilitate loan originations. As a borrower, you'll pay a nonrefundable lender one-time origination fee between 1.00% to 6.00% of the loan amount, depending on your loan grade (A1-G5, depending on credit rating). It's deducted from your loan proceeds, so the loan proceeds you receive will be less than the full amount of the issued loan. Since it's based on your loan amount, it's calculated after you're approved, but all our rates and fees are clearly disclosed on our website at: https://www.lendingclub.com/public/borrower-rates-and-fees.action, and in your truth in lending statement. Rates on loans available through Lending Club range from 5.99% APR to 35.89% APR. Rates are set for each individual customer based upon our experience with facilitating billions of dollars in consumer loans through the Lending Club platform. To qualify for the lowest rate, applicants must have excellent credit, including a high credit score, low percentage of total outstanding debt versus income, a long history of credit with significant successful credit lines, and other factors.
  • Lender Review
    from South Beloit, IL Confirmed LendingTree Customer
    (2 of 5)
    Recommended!
    Reviewed:
    Loan Type:
    Personal Loan
    Services:
    I'm currently working with this lender
    Date of Service:
    December 6, 2016
    Loan Closed On:
    December 16, 2016

    Convenience at a high cost

    I wouldn't recommend this loan option if you have other ways to get the money you need. They were not upfront on fees. I was shocked to say the least to have $300.00 worth of upfront fees to get the loan. Out of my 5000.00 loan I received 4700.00. They didn't mention those fees upfront. Also on their site they mentioned having your loan as fast as one day but it took over a week to get the funds. The interest is high but if your desperate it works... Read More

    Was this review helpful?

    Hello, we're sorry you were unhappy with your experience. As a marketplace, Lending Club generates revenue from fees including transaction fees from our platform’s role in matching borrowers with investors to facilitate loan originations. As a borrower, you'll pay a nonrefundable lender one-time origination fee between 1.00% to 6.00% of the loan amount, depending on your loan grade (A1-G5, depending on credit rating). It's deducted from your loan proceeds, so the loan proceeds you receive will be less than the full amount of the issued loan. Since it's based on your loan amount, it's calculated after you're approved, but all our rates and fees are clearly disclosed on our website and in your truth in lending statement. If you have any additional questions, please contact Support.
  • Lender Review
    from Thomasville, NC Confirmed LendingTree Customer
    (2 of 5)
    Reviewed:
    Loan Type:
    Personal Loan
    Services:
    Closed loan with this lender
    Date of Service:
    May 10, 2016

    Not to happy

    They charged a 200 dollars for first time fee and I didn't get the all the money I needed instead of putting in on top of the loan. So in short not good

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  • Lender Review
    from Palm Desert, CA Confirmed LendingTree Customer
    (2 of 5)
    Reviewed:
    Loan Type:
    Personal Loan
    Services:
    Closed loan with this lender
    Date of Service:
    October 18, 2016
    Loan Closed On:
    November 1, 2016

    Less then perfect process for funding

    Loan was funded on 11.1 they have still not deposited the funds to my account due to an issue with account number which was corrected several days ago,they sent a test deposit but the systems don't reflect this, so we had to start the process over again. They are still expecting first payment on 12.1 so I will barely have received funds and have to make my first payment. when I spoke with customer service they were less than helpful and said they wouldn't adjust the payment date and couldn't update the systems. I told them i would be cancelling the loan if they don't resolve the transfer issues and fund my account this week.... Read More

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  • Lender Review
    from Dallas, TX Confirmed LendingTree Customer
    (2 of 5)
    Reviewed:
    Loan Type:
    Personal Loan
    Services:
    None - we connected, but I didn't move forward
    Date of Service:
    October 8, 2016

    failed to deliver

    Lending Club sends a lot of emails asking to apply for loans and suggesting it can offer a reasonable loan. After applying for a small loan for wedding expenses, Lending Club did not approve the loan. It instead offered a loan through another provider at 25% interest. I feel like this whole process was a waste of time.

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  • Lender Review
    from Cornish, NH Confirmed LendingTree Customer
    (2 of 5)
    Recommended!
    Reviewed:
    Loan Type:
    Personal Loan
    Services:
    Closed loan with this lender
    Date of Service:
    September 15, 2016

    not exactly what I expected

    Not happy about the $90 fee, told by others I should not be charged this, also when I got the offer email to do this said interest 3.9 I paid close to11

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  • Lender Review
    from Chicopee, MA Confirmed LendingTree Customer
    (2 of 5)
    Reviewed:
    Loan Type:
    Personal Loan
    Services:
    I'm currently working with this lender
    Date of Service:
    August 1, 2016
    Loan Closed On:
    August 5, 2016

    Private loans

    Got the loan pretty quick, but didn't like the origination fee amount.

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  • Lender Review
    from Conroe, TX Confirmed LendingTree Customer
    (2 of 5)
    Reviewed:
    Loan Type:
    Personal Loan
    Services:
    Closed loan with this lender
    Date of Service:
    June 15, 2016
    Loan Closed On:
    July 8, 2016

    Beware of Origination fees

    Process was easy good communication however the origination fees (6%) are very high. I should have paid closer attention to the fine print.

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  • Lender Review
    from Wichita, KS Confirmed LendingTree Customer
    (2 of 5)
    Reviewed:
    Loan Type:
    Personal Loan
    Services:
    Closed loan with this lender
    Date of Service:
    December 20, 2015

    Outrageous origination fees

    Although it was nice completing the loan process at my home on my computer, I was very disappointed to find out there was a $600 origination fee. It would've been a little easier to swallow had that not been deducted from my loan amount.

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LendingClub is America’s #1 credit marketplace, transforming banking to make it more efficient, transparent and consumer friendly. Since 2007, LendingClub has funded more than $26 billion dollars in loans. Through LendingClub, you can get a low, fixed rate personal loan of up to $40,000 to consolidate your high-interest rate debt, make home improvements, or finance the major purchase of your dreams! Our convenient online application makes it easy and there are never any prepayment penalties. Check your rate today without hurting your credit score and you could have the money you need in as few as 5 days. All loans made by WebBank, Member FDIC.