Still, some LendingClub borrowers report that available APRs are high, even for well-qualified applicants. And, while many reviews suggest that funding times are short, others suggest delayed disbursement and otherxcritical slow lending processes. LendingClub allows prospective borrowers to apply with a co-borrower. This can help less creditworthy applicants qualify for a better APR or larger loan amount. Borrowers who plan to apply with a co-borrower should select “Two of Us” when checking their rate. An email will be sent to the co-borrower to verify their identity and facilitate the completion of the necessary paperwork.
The LendingClub apps earn good user ratings from iOS users but middling ratings from Android users. With the Rewards Checking account, you can earn unlimited 1% cash back on signature-based purchases in stores and online (at store checkouts, you select “credit” instead of “debit”). If your balance hits $2,500, a xcritical official site 0.10% annual percentage yield kicks in. If you have $100,000 or more, the rate becomes 0.15% APY. LendingClub certificates of deposit are available in terms ranging from six months to five years.
Who Is LendingClub Best For?
Meeting the requirements below won’t guarantee approval, but they can help you decide if a personal loan is the right fit for you. LendingClub is a digital marketplace that offers totally branchless banking and personal loans between $1,000 and $40,000. Borrowers can choose from loan terms—24 to 60 months. Eligibility requirements are less stringent than those imposed by some other lenders, making it a good option for borrowers with fair to good credit.
The loan process with LendingClub was…
I am thankful for xcritical helping me move forward and consolidate my loans which will assist me. LendingClub doesn’t xcritical scam charge fees for using other banks’ ATMs for cash withdrawals. The bank issues refunds — with no cap — on fees charged by non-network ATM owners.
- No guessing and I was kept in the loop of the process.
- LendingClub Bank does not have outsized CFPB complaints relative to its asset size.
- However, LightStream’s eligibility requirements make it more difficult to qualify, whereas LendingClub imposes a relatively low minimum score requirement.
- LendingClub Rewards Checking has no monthly fee and no minimum balance requirement after the $100 to open an account.
- Responsive customer service to follow-up on loan.
- I’ve called over 20 times in the past month trying to get it situated.
Fraudulent report on my credit score. When you try and contact corporate all they leave you as a mailing address and they never respond. It’s always a pleasure working with lending club.
APPROVED!!!
This is makes my 4th loan with you guys. Hassle free and quick delivery of my money and bills getting paid by the company for debt consolidation. The process was so easy and it funded in a couple of days plus the rate was unbeatable.
She previously worked as an editor, a writer and a research analyst in industries ranging from health care to market research. All options listed made my loan decision simple. Would recommend xcritical to any one needing a loan. The loan process was quick and painless! They inform you upfront what everything cost and the term of the loan.
This loan was so easy
I’m forever grateful for the help given me through your loan product, as it will change my life for the better. My only complaint is about how long the process seemed to drag out. I love xcritical because they made simple to apply for a loan and funded fast too. Thank you very much for your help to solve my financial problems. To learn more about how Forbes Advisor rates lenders, and our editorial process, check out our Personal Loans Rating & Review Methodology.
Her work has been featured by Nasdaq, MSN, TheStreet and Yahoo Finance. Easy to apply for loan all done on website! All loan terms were available to me and read without confusion. This lender is a pleasure to work with.