Lending Club APPROVED

MrsCHX · ‎07-17-2025

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.

Capital One Savor: $8,000; Nordstrom Visa: $5,400; Mission Lane: $4,500; LOFT MC: $3,000; AAA Daily Advantage: $2,700; PenFed Power Cash Rewards: $2,000; Capital One: $550 (reallocated $2k to Savor)

Store/Other: Care Credit: $7,500; Amazon: $2.500; Kohls: $2,500; Home Depot: $1,500; Target: $1,100

Outbackexplorer · ‎07-17-2025

Congrats!

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

ptatohed · ‎07-18-2025

That is amazing! Congrats MrsC!!!

Everyday 5% CB:
Chase prime Visa // citi CUSTOM CASH “A” // citi CUSTOM CASH “B” // citi CUSTOM CASH “C” // citi ThankYou (5% gas, lucrative spending offers) // mylowe’s Rewards // Target circle card

Rotating 5% CB:
Chase “OG” freedom Visa // DISCOVER it Cash Back // nusenda CU Platinum Cash Rewards

Everyday 4% CB:
US Bank Smartly (v1.0)

Everyday 3% / 2.2% CB:
AOD FCU Visa Signature (3%, sockdrawered) // upgrade Cash Rewards Elite (2.2%, sockdrawered)

Welcome Offer / credits only:
NFCU FLAGSHIP REWARDS (elevated Welcome Offer, annual prime credit, sockdrawered)

Hotel card:
Chase IHG ONE REWARDS PREMIER (elevated Welcome Offer, 1 free night/yr)

On my radar:
Langely FCU Signature Cash Back (5% CB monthly selectable cat) // Safe CU Cash Back+ (Quarterly rotating 5% CB cats plus bonus cats) // upgrade MyFive Cash Rewards (5% CB monthly selectable cat) // US Bank Kroger (and family) World Elite Master Card(s) (5% CB Mobile Wallet)

KangiCosmos · ‎08-26-2025

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

Starting Score: 502
Current Score: 686
Goal Score: 700

Take the myFICO Fitness Challenge

MrsCHX · ‎08-29-2025

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.

Capital One Savor: $8,000; Nordstrom Visa: $5,400; Mission Lane: $4,500; LOFT MC: $3,000; AAA Daily Advantage: $2,700; PenFed Power Cash Rewards: $2,000; Capital One: $550 (reallocated $2k to Savor)

Store/Other: Care Credit: $7,500; Amazon: $2.500; Kohls: $2,500; Home Depot: $1,500; Target: $1,100