My recent experience with Lending Club

Anonymous · ‎03-07-2015

For those considering using them. I'm impressed.

March 3rd - applied

March 6th - process completed

March 7th - money deposited in my checking account

Also, on March 6th when I was notified it was completed I called to change the payment date. Phone answered in about 20 seconds. The CSR asked a few verification questions, and changed the date. Took only a few minutes, and the updated date showed on line immediately.

Anonymous · ‎03-07-2015

@Anonymous wrote:
For those considering using them. I'm impressed.

March 3rd - applied
March 6th - process completed
March 7th - money deposited in my checking account

Also, on March 6th when I was notified it was completed I called to change the payment date. Phone answered in about 20 seconds. The CSR asked a few verification questions, and changed the date. Took only a few minutes, and the updated date showed on line immediately.

What documentation did you have to provide?

Anonymous · ‎03-07-2015

@Anonymous wrote:
@Anonymous wrote:
For those considering using them. I'm impressed.

March 3rd - applied
March 6th - process completed
March 7th - money deposited in my checking account

Also, on March 6th when I was notified it was completed I called to change the payment date. Phone answered in about 20 seconds. The CSR asked a few verification questions, and changed the date. Took only a few minutes, and the updated date showed on line immediately.
What documentation did you have to provide?

Last three months bank statements. I think for peeps with a job, (I'm self employed), they ask for the two most recent pay stubs and a W-2.

Anonymous · ‎03-07-2015

One thing I forgot to note is that did only a soft pull for the loan, which I think is very cool.

Anonymous · ‎03-07-2015

@Anonymous wrote:
One thing I forgot to note is that did only a soft pull for the loan, which I think is very cool.

That is pretty nice.

Anonymous · ‎03-07-2015

Verification is very YMMV. They did not ask me for any supporting documents or additional verification for a 25k consolidation loan. My reports don't show my employment info either

Applied on a Saturday, money was in the bank by Friday

I've posted about this before, but I am extremely happy with Lending Club. They saved me from perpetual interest hell with this loan at a reasonable rate when other lenders wouldn't consolidate because of high utilization (why do you think I am trying to consolidate?)

Anonymous · ‎03-07-2015

I applied Monday and am still waiting. They called yesterday asking for a phone verification and to tell me they needed proof of residence. Hopefully by mid week.

DaveInAZ · ‎03-09-2015

@Anonymous wrote:
Verification is very YMMV. They did not ask me for any supporting documents or additional verification for a 25k consolidation loan. My reports don't show my employment info either

Applied on a Saturday, money was in the bank by Friday

I've posted about this before, but I am extremely happy with Lending Club. They saved me from perpetual interest hell with this loan at a reasonable rate when other lenders wouldn't consolidate because of high utilization (why do you think I am trying to consolidate?)

Congrats. I wasn't so fortuate. I applied last summer, I had a 0% BT on Barclays that was soon going to turn into 22.9%. They offered me 26%, No Thanks! I wasn't monitoring my credit as closely back then, but my CS was probably in the mid 600s, other than a 2010 BK7 & those accounts IIB, no baddies. I then tried Prosper a few days later & was funded in 1 day at 10.9%. I still get LC offers in the mail a couple times a month, I shred them.

tonyjones · ‎03-09-2015

@Anonymous wrote:
For those considering using them. I'm impressed.

March 3rd - applied
March 6th - process completed
March 7th - money deposited in my checking account

Also, on March 6th when I was notified it was completed I called to change the payment date. Phone answered in about 20 seconds. The CSR asked a few verification questions, and changed the date. Took only a few minutes, and the updated date showed on line immediately.

What loan amount did you get and interest rate if you don't mind me asking?

Current Fico Scores: (December 2023)

Anonymous · ‎03-09-2015

@tonyjones wrote:
@Anonymous wrote:
For those considering using them. I'm impressed.

March 3rd - applied
March 6th - process completed
March 7th - money deposited in my checking account

Also, on March 6th when I was notified it was completed I called to change the payment date. Phone answered in about 20 seconds. The CSR asked a few verification questions, and changed the date. Took only a few minutes, and the updated date showed on line immediately.
What loan amount did you get and interest rate if you don't mind me asking?

$5000 at 16.55%. Payments are $177.15 a month over three years. Fortunately for me, Lending Club pulls TU which is my clean profile. Prosper pulled Experian, which is 100 points lower than TU because of my tax lien. Got a denial from them.