Adam McCann, Financial Writer
@adam_mcan
LendingClub is a legitimate online lender because it is accredited by the Better Business Bureau, which gives it a rating of A+. Plus, LendingClub has a 4/5 rating from WalletHub's editors because its personal loans can be a good option for people with bad-to-fair credit.
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 4.6/5 on WalletHub.
- LendingClub personal loans have a rating of 4/5 from WalletHub's editors.
While LendingClub is a legitimate online lender, their personal loans 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.
People also ask
What are the personal loan requirements?
Major personal loan requirements include being 18+ years old, having a bank account, having a high enough credit score for the lender, and having enough income or assets to afford monthly loan payments. Some personal loans may have additional requirements, such as providing pay stubs or collateral to secure the loan.
Specific requirements vary by lender. Avant requires a credit score of 580 or higher, for example, while Prosper sets the bar at 640...
read full answer by Adam McCann, Financial WriterHow hard is it to get a personal loan?
A personal loan generally is not hard to get as long as you have enough income to repay the loan. You can get personal loans from banks, online lenders, and credit unions, and you should be able to get approved with a credit score of 580 or higher.
Some unsecured personal loans are available to people with lower credit scores, but you have to watch out for predatory interest rates. For example, one good...
read full answer by Adam McCann, Financial WriterHow do personal loans work?
Personal loans let you borrow a sum of money from a lender and then pay it back in monthly installments over a set term – usually anywhere from 12 to 84 months. Those monthly payments include equal portions of the original loan amount, plus interest and fees. Personal loans can be used for debt consolidation, home improvements, vacations, big purchases and more. Understanding how things will go, from the time you apply to when you...
read full answer by Adam McCann, Financial WriterDid we answer your question?
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