Does LendingClub call your employer? This question is about LendingClub

Does LendingClub call your employer?

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This question is about LendingClub

Grace Enfield, Content Writer

@grace_enfield • 07/29/22 This answer was first published on 07/29/22. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

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Yes, LendingClub may call your employer after you provide their contact information and give permission for the call during the application process. LendingClub will not disclose any information when they contact your employer, since they are just inquiring about your employment status.

For more information, check out the full LendingClub personal loan review on WalletHub. You can also estimate your potential rates with our free pre-qualification tool.

Answer Question

Do personal loan companies call your employer?

Is LendingClub legit?

Yes, LendingClub personal loans are legit because LendingClub is a legitimate online lender registered to do business in the states it services, which is a legal requirement to be a legitimate lender. Another reason why LendingClub personal loans are legit is that the lender has a rating of A- from the Better Business Bureau. The company also is accredited with the Bureau.… read full answer

Why LendingClub Personal Loans Are Legit

LendingClub is registered as a business in the states it services.

LendingClub has a Better Business Bureau rating of A-.

LendingClub has been around since 2006.

LendingClub has an average user rating of 4.5/5 on WalletHub.

LendingClub personal loans have a rating of 3.5/5 from WalletHub's editors.

LendingClub has a secure website, which you can tell by the fact that the URL has "https" in front of it.

While LendingClub personal loans are legit, they may or not be the best choice for you. It's important to compare the terms and requirements of LendingClub personal loans against your other options before submitting an application.

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Does LendingClub do a hard inquiry?

Yes, LendingClub does a hard inquiry when you apply for a loan. This credit report inquiry will likely drop your credit score by about 5 to 10 points, but you'll be able to get back on track with a few months of on-time payments.

LendingClub's hard inquiry will stay on your credit report for two years, but it won't affect your credit after one year, and the impact may subside before then. To see how your individual credit score may be affected by a hard inquiry, you can use the … read full answer credit score simulator on WalletHub.

It's worth noting that some people may be uncertain about whether LendingClub does a hard inquiry because there's only a soft inquiry during the pre-qualification process. Soft inquiries do not impact your credit score. But that's just the first step, and a hard inquiry is required when you officially apply.

If not having a hard inquiry is important to you, lenders that don't do a hard pull at all include NetCredit, Integra Credit and NetCredit.

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