LendingClub Review: High-Value Personal Loans for Borrowers With “Fair” Credit
- What is LendingClub?
- How do LendingClub personal loans work?
- How much do LendingClub personal loans cost?
- LendingClub fees
- LendingClub personal loan features
- Who are LendingClub personal loans best for?
- Pros & cons
- LendingClub vs. competitors
- The bottom line
What is LendingClub?
How do LendingClub personal loans work?
How much do LendingClub personal loans cost?
LendingClub personal loan features
Personal loans for fair credit
Easy online application
Who are LendingClub personal loans best for?
Those with “fair” credit
Borrowers looking to consolidate debt
Those comfortable with online banking
Borrowers who need loans greater than $40,000
Those with poor credit scores
Those who prefer brick-and-mortar banks
Pros & cons
- Quick & easy online application. The online LendingClub application is quick and easy to do and can be completed in a matter of minutes.
- Fair credit scores accepted. Unlike other lenders, LendingClub accepts credit scores of 660 or higher.
- Minimal fees. The company offers a straightforward fee structure, making it unlikely you’ll receive any unexpected fees.
- Cosigners allowed. LendingClub loan terms allow for co-signers, which may help improve your loan offers.
- High APR. The company doesn’t offer the lowest rates, with APRs between 8.05% to 35.89%. These are considered to be fairly high interest rates, and might even make repayment terms difficult for certain borrowers.
- Fees. LendingClub charges a one-time loan origination fee between 3% - 6% of the value of your loan, and they also charge late payment fees.
LendingClub vs. competitors
The bottom line
Reclaim Up to $610/Year in Car Insurance
Here’s the thing: your current car insurance company is probably overcharging you. But, who has the time to look around for around a new company?
A website called CarInsurance.net makes it super easy to see if you’re getting the lowest price. All you have to do is enter your ZIP code and your age, and it’ll show you your options.
Using CarInsurance.net, people have saved up to $610 a year.
It takes just a few minutes to see how much CarInsurance.net could put back in your pocket. And the best part? Because we’re driving less, some insurers are slashing prices this month.