Anyone with a prosper are lending club Loan please comment?

[TRC_WA]

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@d170 wrote:

It reports to all three for me as an unsecured installment loan. 

How to Dispute Account Details Payment Status Creditor Contact Account Name LENDING CLUB Account Number 1741**** Condition Open Responsibility Individual Current Balance $9,025 Original Balance $9,025 Limit $0 Monthly Payment $281 Last Payment Status OK Term 36 months Loan Type Unsecured loan Opened 05/29/2014 Reported 07/30/2014 Remarks

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Just the info I was looking for. 

Thanks!

[SusieQ]

I have had both.   Lending Club does all three, Prosper only did Experian and TransUnion.

[TRC_WA]

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@SusieQ wrote:

I have had both.   Lending Club does all three, Prosper only did Experian and TransUnion.

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Regarding Lending Club... it doesn't report as "consumer finance" which supposedly is bad for your score?

[SusieQ]

Both were paid/closed in 2014, but this is how they report:

 Account Name / Account # / Account Type

    Experian                                                 Equifax                                       TransUnion

LENDING CLUB CORP	LENDINGCLUB CORPORAT	LENDING CLUB
XXXX	XXXX	XXXX
Unsecured Loan	Installment	Installment account
PROSPER MARKETPLACE IN	No Data Returned For This Bureau	PROSPER
XXXX		XXXX
Unsecured Loan		Installment account

[TRC_WA]

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@SusieQ wrote:

Both were paid/closed in 2014, but this is how they report:

 Account Name / Account # / Account Type

    Experian                                                 Equifax                                       TransUnion

LENDING CLUB CORP	LENDINGCLUB CORPORAT	LENDING CLUB
XXXX	XXXX	XXXX
Unsecured Loan	Installment	Installment account
PROSPER MARKETPLACE IN	No Data Returned For This Bureau	PROSPER
XXXX		XXXX
Unsecured Loan		Installment account

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Thanks a lot for the confirmation.

I bumped the old thread and it's nice to get current answers to what I was looking for... I just got a LC approval. 

[SusieQ]

Congrats on the successful loan application. 

I like Lending Club.  They are fair and quick.  

Bonus, they never HP, only SP.

[TRC_WA]

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@SusieQ wrote:

Congrats on the successful loan application. 

I like Lending Club.  They are fair and quick.  

Bonus, they never HP, only SP.

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Yeah I read that which is pretty awesome.  They pulled TU and from what I read 660 was the minimum and I just barely made that... due to the fact ALL my creditors pull TU and I have a dozen or so INQ's lingering from late 2013 from the new CC accounts I opened last year.  My last new CC was Dec 2013 and my  last new account was an auto refi in March 2014.  All 3 CR's are the same other than TU having all the inquiries.

Anyway, while I have a lot of inquiries dragging down my TU score I only have 1 inquiry in the last 6 months (BECU CC CLI) and that definitely helped my approval.

I'm expecting my TU score to rebound and catch up with EQ and EX once these 2013 inquiries age past 1 year in the next couple months.

I'll lose my garden status once the new account hits the CR but I'm fine with it.  I took out the loan to pay off a few things and have some left over cash.   The entire process was pretty painless.  I applied on 10/8 and they requested paystubs and bank statements.  I got the approval last night 10/9.  They did call me to verify employment dates because I changed jobs 3 months ago. 

It was a smooth process.

[danieljohnsonk]

I just wanted to add my experience here regarding prosper in Oct 2015. Prosper did a hard pull from Experian to approve my loan and about 5 weeks later they reported the new account info only to Equifax. They may report it to the other bureaus in the near future but I'm hoping not. It looks like they change how they do business from time to time.

The loan is listed in my myfico report as an Unsecured Installment loan.

Dan J

[Anonymous]

These loans report as installment account/loan, but the industry reports as finance/personal. Traditional bank loans report the industry as banks.

[Country_Feller]

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@VirtualCuriosity wrote:

I don't have it on my reports to confirm 100%, but I just asked someone I trust and she told me it showed as an installment loan.  She also said it reported on EX and TU,  while she had it.

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This is how it shows on my credit reports.