General Credit Topics

[corymcd88]

I applied and was offered a rate at 19.99% apr with a 732 TU credit score. Is this a joke? They said because my credit score was very low. I was thinking I would get 10 to 12%.

[dodgeball]

Sounds like a subprime lender to me

[SwiftTone]

Who did you apply with? Most CCs now are 15-29% except for some CUs and few banks.

When I applied with Discover with a 709 EQ FICO, my APR is 19.99%. When I applied with AMEX with 712 EX FICO and 729 EQ FICO my APR is 22.24%. I'd be more upset but I don't carry a balance on a normal basis, maybe 1-2 months out of the year.

[djrez4]

Lending Club is a service that allows people to make private loans to other individuals.  It's not a credit card or bank.

[QAMngrGirl]

The site states "Rates from 6.78% to 27.99%* APR. Best APR is available to borrowers with excellent credit."

Guess their idea of excellent credit is higher?

[Madman94044]

How much did you try to borrow?

[JM-AM]

Lets not make assumptions..BUT

The OP said TU score. He did not say a TU FICO score.

A TU score of 700's could very well be a 600 FICO score.

[corymcd88]

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Madman94044 wrote:
How much did you try to borrow?

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$2,000.00

[corymcd88]

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JM-AM wrote:

Lets not make assumptions..BUT

The OP said TU score. He did not say a TU FICO score.

A TU score of 700's could very well be a 600 FICO score.

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Walmart TU FICO 732.

[llecs]

I'm an investor and a borrower at LC. I think they still pull TU98 (same as on here). They would have also e-mailed the score they pulled.

The rate isn't reliant upon scores only. It also looks at DTI, income, recentness of baddies, total baddies, years on the job, residency, etc.