Personal LoansLender Reviews
How Does LendingTree Get Paid?

How Does LendingTree Get Paid?

LendingTree is compensated by companies on this site and this compensation may impact how and where offers appears on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.

LendingPoint Personal Loan Review

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It may not have been reviewed, commissioned or otherwise endorsed by any of our network partners.

A LendingPoint personal loan might be best for borrowers looking for a bad credit personal loan. LendingPoint offers personal loans to people with credit scores as low as 585, while many other lenders require scores of at least 650 or above. Plus, LendingPoint considers other factors besides credit history to determine approval, such as income and employment.

LendingPoint offers loans up to $36,500 with quick funding. One drawback is that these loans are not available to residents in West Virginia. Read on to learn more about LendingPoint personal loans.

LendingPoint personal loan highlights

  • Up to $36,500: Qualified applicants may access loans up to $36,500.
  • Quick access to funds: You may be able to access funding as quickly as the next business day.
  • Flexible payment options: Choose between monthly and bi-weekly payment options.
  • Soft Pull: Checking your loan options won’t impact your credit score.
  • No prepayment penalty: LendingPoint does not charge a prepayment penalty if you would like to pay off your loan early.
  • No loans in West Virginia: Loans are not available to residents in the state of West Virginia.

LendingPoint at a glance

  • APR range: 9.99% to 35.99%
  • Minimum credit score: 585
  • Terms: 24 to 60 months
  • Origination fee: 0.00% - 7.00%
By clicking “See Offers”, you may or may not be matched with any lender mentioned in this article. Based on your creditworthiness, you may be matched with up to five different lenders in our partner network.
Terms Fees and penalties
  • Terms: 24 to 60 months
  • APR: 9.99% to 35.99%
  • Loan amounts: $2,000 to $36,500
  • Time to funding: The next business day (after approval)
  • Credit check: Soft Pull
  • Origination fee: 0.00% - 7.00%, depending upon your state of residence
  • Prepayment fee: None
  • Late payment fee: Not specified
  • Other fees: Not specified

Eligibility requirements

  • Minimum credit score: 585
  • Minimum credit history: Not specified
  • Maximum debt-to-income ratio: Not specified, though you must have at least $20,000 in annual income

In addition to the requirements above, you’ll need to be at least 18 years old with a valid government-issued photo ID to qualify for a personal loan from LendingPoint. You will also need a Social Security number and a bank account (to be verified by the lender) in your name. The lender will request proof of income, bank statements, and a voided check as part of the application process.

Finally, you will need to live in a state where LendingPoint does business to be eligible for a personal loan from the lender. Currently, that includes Washington, D.C., and every state except West Virginia.

What borrowers are saying about LendingPoint

LendingPoint reviews on LendingTree are largely positive, earning it a rating of 4.6 stars (out of 5 possible stars).

Out of 70 total reviews, 57 consumers give LendingPoint 5 stars. The speed of the process seems to be a recurring theme in the lender’s reviews. A review from Jessica in Hobe Sound, Fla., said “The experience was amazing! The made the process quick, easy and painless.” However, there were five consumers who gave the lender only a one-star review, including Ernest B. from Dacula, Ga. He wrote, “I wouldn’t recommend this company to anyone.”

It’s important to take the time to review lenders before formally applying for one. By comparing consumer reviews, fee structures, credit requirements and more, you should have a better idea of what to expect in advance.

Applying for a personal loan from LendingPoint

Like many online lenders, LendingPoint’s application process is designed to be easy and consumer-friendly. You can fill out your initial application online, from your computer or mobile device, or you can call the lender directly if you prefer to speak with someone over the phone.

As a reminder, this initial contact with LendingPoint to discover your loan options includes a Soft Pull. Soft credit inquiries don’t hurt your credit score in any way. However, if you opt to officially apply for one of these loan offers, LendingPoint will perform a hard inquiry at that point to verify the information you provided on your loan application.

LendingPoint may ask you to send in verification documents and provide additional information once you’ve accepted an offer (aka officially applied for a loan). The lender will review and verify your documentation once you send it in and an underwriter will approve or deny your application. If approved, you could receive your funds as quickly as the next business day.

Pros Cons
  • May qualify even with poor credit: You may be able to qualify for a loan even if your credit is struggling.
  • No prepayment penalty: You can pay off your loan early, if you like, with no fear of a prepayment penalty.
  • Access funds quickly: Potentially get access to your funds as quickly as the next business day, if your application is approved.
  • Origination fee: Depending on where you live, you might be charged an origination fee between 0.00% - 7.00%.
  • Higher potential interest rates: You may be able to find lower interest rates elsewhere, especially if you have a decent credit rating.
  • Doesn’t report to all three credit bureaus: LendingPoint only reports to two of the three major credit bureaus (Experian and TransUnion).

Who’s the best fit for a LendingPoint personal loan?

If you have less-than-perfect credit scores or you’re struggling with minor credit problems, a personal loan from LendingPoint might be a good fit for you. It could potentially be a better alternative than some of the higher-interest and higher-fee loan options that are available.

If you have fair credit and need access to funding quickly, LendingPoint could be a good lender for you to consider. While the lender may offer rates and fees that tend to be on the high side, they are still generally a better alternative than predatory payday lenders. Of course, before you choose LendingPoint or any other lender, it’s wise to compare your options first.

Alternative personal loan options


  • APR: 9.95% to 35.99%
  • Minimum credit score: 600
  • Terms: 24 to 60 months
  • Origination fee: Up to 4.75%

While its interest rates are comparable to LendingPoint, Avant offers qualified borrowers the opportunity to borrow up to $35,000. That’s $10,000 more than LendingPoint’s maximum advertised loan amount.

Additionally, borrowers who are looking for either longer terms or lower potential origination/administration fees might appreciate the alternative that Avant has to offer. Avant outshines LendingPoint in both of these areas.

*If approved, the actual loan terms that a customer qualifies for may vary based on credit determination, state law, and other factors. Minimum loan amounts vary by state.

**Example: A $5,700 loan with an administration fee of 4.75% and an amount financed of $5,429.25, repayable in 36 monthly installments, would have an APR of 29.95% and monthly payments of $230.33.

Based on the responses from 7,302 customers in a survey of 140,258 newly funded customers, conducted from August 1, 2018 - August 1, 2019, 95.11% of customers stated that they were either extremely satisfied or satisfied with Avant. 4/5 Customers would recommend us. Avant branded credit products are issued by WebBank, member FDIC.


  • APR: 4.37%–35.99%
  • Minimum credit score: 600
  • Terms: 36 or 60 months
  • Origination fee: 0.00% - 8.00%

Upstart founders, ex-Googlers, designed the lending platform to take into account not just your credit, but also your education and work experience when setting your interest rate. Nonetheless, the condition of your credit does still have an influence over the price you will pay for financing and you’ll need at least a 600 credit score to qualify for a loan.

It’s worth pointing out that with an average APR of 20%, Upstart personal loans can be a bit pricey. The lender also charges sizable origination fees of 0.00% - 8.00%, depending upon your state of residence.


  • APR: 5.99% to 29.99%
  • Minimum credit score: 600
  • Terms: 36 or 60
  • Origination fee: 1.00% - 5.00%

Peerform offers qualified applicants the opportunity to borrow between $4,000 and $25,000 from accredited investors through the Peerform platform.

While interest rates with Peerform have the potential to be lower for well-qualified borrowers, if your credit isn’t in great shape you may not be able to take advantage of those lower rates. Also keep in mind that if you’re in a hurry to access cash, you might have to wait a few days to receive your funds.


Get personal loan offers from up to 5 lenders in minutes