topic Re: Lending Club APPROVED in Personal Finance

Lending Club APPROVED

MrsCHX — Thu, 17 Jul 2025 20:17:04 GMT

Oh. My. Goodness.

I'm speechless right now. I've been on debt repayment journey since earlier this year (got divorced, bought a house, had a family tragedy...it added up fast).

I buckled down and made a plan to be free of CC debt by year end. To date, I've paid off over $7500 (not bad for 5 months!).

In February, I tried both of my credit unions first. PenFed denied and my local CU denied after review (cc statements, a video call, etc). So I got to work.

On a whim, I checked some sites today. SoFi - denied. Upgrade - 30% APR. Best Egg - 9.99% origination AND 30% APR. Finally, I checked LC. I could not believe the rate. 12.99% if I had them pay at least 40% of the loan to the credit cards directly. No problem!

My current FICO8 is 657. Not great, but not trash.

I'm having them pay my 3 highest interest cards directly and will split the rest between my two PenFed cards that are at 17%. I'll pay both of those in full and then aggressively pay down the personal loan.

I'm ECSTATIC! So happy to be rebuilding. And yeah, I'll be closing a few cards after this.

Re: Lending Club APPROVED

Outbackexplorer — Fri, 18 Jul 2025 04:58:50 GMT

Congrats!

I currently use them as my high yield savings account and am satisfied, though sadly they just lowered their rate a bit.

Re: Lending Club APPROVED

ptatohed — Sat, 19 Jul 2025 00:25:30 GMT

That is amazing! Congrats MrsC!!!

Re: Lending Club APPROVED

KangiCosmos — Wed, 27 Aug 2025 05:18:34 GMT

what was the amoount of the loan you were approved for?

Re: Lending Club APPROVED

MrsCHX — Fri, 29 Aug 2025 19:23:06 GMT

I took out a $9,000 loan. I got a decent interest rate deduction if I direct-paid 40% of the loan to cards. I did about 60% of the proceeds directly to cards, and the rest was direct deposit.