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How much did your score drop with a Lending Club loan?

Regular Contributor

How much did your score drop with a Lending Club loan?

Just curious is anyone has experiece with this? I just took out a $4000 loan mostly for an upcoming vacation and to pay off 1 card. It's for 4 years. I read here it won't hit my report for a few months. Also in case anyone is curious they didn't do a hard pull to approve me for the loan.

Message 1 of 5
4 REPLIES
Established Member

Re: How much did your score drop with a Lending Club loan?

It's an installment loan so you should have little to no effect on your score depending on your aaoa. also it only reports to transunion and experian.

Message 2 of 5
Regular Contributor

Re: How much did your score drop with a Lending Club loan?

so does this mean it will affect my average age of accounts number but not be included in my overall utilization?
Message 3 of 5
Super Contributor

Re: How much did your score drop with a Lending Club loan?


jasonkm1 wrote:
so does this mean it will affect my average age of accounts number but not be included in my overall utilization?

Correct, it will lower your AAoA ( how much depends on your other account ages ), but it won't factor into your revolving utilization.    I wouldn't expect much of a score drop.

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
Message 4 of 5
Established Contributor

Re: How much did your score drop with a Lending Club loan?

Shouldnt experience any negligible score drop, and they usually take about 2 months to show up on your credit. Generally it's a hard pull unless you receive a Pre-approval letter which is always a soft although for some reason a few people have applied and not gotten a hard pull...


Starting Score: TU 686 EX 641 EQ 690
Current Score: TU 779 EX 767 EQ 740
Goal Score: 800 Club

BCE $12.5K, 5/3 Sig $10K, Wally Discover 10K, Cash+ $9K Sam's Discover 10K, Freedom $6K, Zales $5.5K, More $5K, Cap one $5K, Barclay 2.5K, Household Plat $1.5K, Household Gold $1.5K, Credit One $1K, First Premier Plat $.675K First Premier Gold $.65K
Message 5 of 5