@live-n-learn wrote:I thought I'd share for anyone who may be in the market for a personal loan.
I recieved invitations from Lending Club for over a year to apply. This year I decided to do it. I researched a number of lenders and also read through some of the experiences on this forum.
I narrowed my search down to Lending Club mainly because of the no hard inquiry. Fast forward, I was approved for a $24k loan at 12.99% / 60 months.
Origination fee $1k +, basically leaving me with $22k to work with. (my credit score with them was 757 and the claimed I was in their top 5%).
Next they asked me to verify my email and call in to answer security questions. (thats all they requested on my to-do list).
Next I went into final review and waited for investors to fund the loan. After 2 weeks my loan was only funded 53%. Of course I started to get nervous thinking
they may not issue the loan. They kept telling me it would fund and it just takes time.
I decided to research PenFed because many of you on this forum seem to like their products and services. after a few days I said what the heck and apped for membership (hard inquiry required ) but (instantly approved). 10 minutes later apped for a $25k personal loan. Status went to pending review, 30 minutes later, status went to approved, 10 minutes later recieved a call from Penfed welcoming me and telling me where I could pick up the check. No origination fee so I got the full $25k. 12.99% / 60 months and my credit score with them was 709.
Needless to say I withdrew my loan request with Lending Club which still had not fully funded.
I know not everyone has the same experience as I did with lending club so it doesn't hurt to try. I am still in shock with the fast response from PenFed because I've read on here just how picky they can be.
All in all I'm kind of glad my loan is with a credit union.
let me know if any other details would be helpful.
So that's what it is like to be golden
Well done OP. Congrats on your success. Thanks for sharing