What is LendingPoint used for? This question is about LendingPoint

LendingPoint is used for borrowing money with a personal loan, which in turn can be used for anything from debt consolidation to home improvements. The company offers $2,000 - $30,000 in funding, repayment periods of 24 - 72 months, and APRs of 7.99% - 35.99%. You’ll need a credit score of at least 600 to qualify. Key Facts About LendingPoint Personal Loans Loan amounts: $2,000 - $30,000 APRs: 7.99% - 35.99% Funding timeline: As soon as the next business day after approval Credit score requirement: 600+ Repayment periods: 24 - 72 months Origination fee: 0% - 8% (varies by state) Late fee: Up to $30 (varies by state) For more information, check out the full LendingPoint personal loan review on WalletHub. You can also estimate your potential rates with our free pre-qualification tool.

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What is LendingPoint used for?

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This question is about LendingPoint

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Grace Enfield, Content Writer

@grace_enfield • 06/21/22 This answer was first published on 06/21/22. 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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LendingPoint is used for borrowing money with a personal loan, which in turn can be used for anything from debt consolidation to home improvements. The company offers $2,000 - $30,000 in funding, repayment periods of 24 - 72 months, and APRs of 7.99% - 35.99%. You’ll need a credit score of at least 600 to qualify.

Key Facts About LendingPoint Personal Loans

Loan amounts: $2,000 - $30,000
APRs: 7.99% - 35.99%
Funding timeline: As soon as the next business day after approval
Credit score requirement: 600+
Repayment periods: 24 - 72 months
Origination fee: 0% - 8% (varies by state)
Late fee: Up to $30 (varies by state)

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

Answer Question

What credit score do you need for a LendingPoint personal loan?

Applicants need a minimum credit score of 620 to get a personal loan from LendingPoint, according to the company. That means the LendingPoint personal loan credit score requirement is in the bad credit range. To put this in perspective, most other lenders' credit score requirements for personal loans range between 600 and 700.… read full answer

Keep in mind that just having a 620 credit score is not enough to qualify you for a LendingPoint personal loan. LendingPoint will consider your entire financial profile, including things like your income, existing debts and recent credit inquiries, when deciding whether to approve you. It's also worth noting that some applicants might be able to get a personal loan from LendingPoint with a slightly lower score if it's offset by other factors like an especially high income. But it's best to wait to apply until your score meets the threshold.

If you're unsure of what your current credit score is, you can check it for free on WalletHub. You can also pre-qualify for a LendingPoint personal loan online to gauge your chances of getting approved with your current credit score.

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Is LendingPoint legit?

Yes, LendingPoint personal loans are legit because LendingPoint is registered to do business in the states it services, which is a legal requirement to be a legitimate lender. Another reason why LendingPoint personal loans are legit is that the lender is accredited with the Better Business Bureau and has an A+ rating.… read full answer

Why LendingPoint Personal Loans Are Legit

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

LendingPoint has a Better Business Bureau rating of A+.

LendingPoint has been around since 2014.

LendingPoint has an average user rating of 4.3/5 on WalletHub.

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

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

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

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How long does it take to get money from a LendingPoint personal loan?

It takes 1 business days to get money from a LendingPoint personal loan, in most cases. That includes both the time it takes to get approved and the time it takes for the funds to be delivered after approval. Keep in mind that this is a typical applicant's experience, and in some cases it could take longer.… read full answer

How to Get Money From LendingPoint as Fast as Possible

Fill out the application carefully. You should make sure that all information you enter on the application is correct and complete. That will eliminate any potential delays from LendingPoint having to request additional information.

Check your credit report for errors. Before you apply, you should verify that everything on your credit report is accurate, as any incorrect negatives on there could impact your chances of approval. If you find any errors, you should dispute them right away to get them removed.

Get your credit score above the minimum. Ideally, you should only apply for a LendingPoint personal loan once your credit score exceeds the minimum requirement of 620. That will make it easier for LendingPoint to decide whether you qualify, which could lead to a quicker decision.

Apply online. Online applications have the fastest processing times since they are automated and streamlined.

Once you get approved for a LendingPoint personal loan, the money will be delivered through an electronic funds transfer to your bank account.

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