LendingClub Reviews

LendingClub Reviews
Author pictureAuthor picture
Author picture
Written by
Author picture
Edited by

Our promise. We provide a buying advantage with verified reviews and unbiased editorial research.

About LendingClub

With LendingClub, you can get a personal loan, refinance your car payments or take out a small business loan. Its online marketplace connects borrowers with a network of lenders to help them select the best loan.

Pros & Cons

  • Quick, easy online application
  • Fast money delivery
  • No prepayment penalties
  • Fixed interest rates
  • Somewhat high minimum APR

LendingClub Reviews

Stars Rating

  • 36%
  • 12%
  • 7%
  • 7%
  • 37%

Popular Mentions

    How do I know I can trust these reviews about LendingClub?
    • 4,480,424 reviews on ConsumerAffairs are verified.
    • We require contact information to ensure our reviewers are real.
    • We use intelligent software that helps us maintain the integrity of reviews.
    • Our moderators read all reviews to verify quality and helpfulness.
    Top reviews
    • Top reviews
    • Recent
    • Oldest
    • Most helpful

    A link has directed you to this review. Its location on this page may change next time you visit.

    How do I know I can trust these reviews about LendingClub?
    • 4,480,424 reviews on ConsumerAffairs are verified.
    • We require contact information to ensure our reviewers are real.
    • We use intelligent software that helps us maintain the integrity of reviews.
    • Our moderators read all reviews to verify quality and helpfulness.
    Page 2 Reviews 5 - 35
    Customer ServiceStaffRates

    Reviewed May 16, 2024

    Applied at Lending Club got approved for 5000 dollars. Looked at the payments and interest and thought there was something wrong, so I didn't proceed. After investigation I found it was a scam. Now I get calls from them and the caller ID comes up different names. What a nightmare. I seriously need help. I had heart failure, have been trying to work as much as I can and now I have to deal with people trying to rip me off when I barely have anything.


    I almost proceeded but glad I didn't

    Profile pic of the author.
    Online & App

    Reviewed April 17, 2024

    The application process was simple and straightforward, and I was able to easily upload all the necessary documents without any hassle. The website is also well-designed and easy to navigate, making it a breeze to track my loan status and make payments.

    Loan Process

    Reviewed April 13, 2024

    DO NOT BORROW FROM LENDING CLUB, you will pay back double the amount you borrow or more. They are profiting off of being disguised as the good guys that want to help. You’ll be further in debt if you take out a loan through them. DON'T DO IT. TRUST ME.

    Reviewed April 12, 2024

    Hello, I have 3 loans with Lending club. Very simple to apply however I went to a hardship and I been trying to get help and they give me every excuse why not to help me, I contacted them. Many times and they continued to refuse help, government help them with millions during covid and they refuse to customers. They claimed they don't receive payment. I have to send screenshot of my bank. Always something to refuse help.



    I got called today by someone that said they were with the Lending Club and said that $200.00 must be paid up front for insurance in case I become unemployed or something and they said this money is fully refundable. They also said they didn't need to run a credit report on me because my credit was pretty good. Does this scam to everyone?


    That's a scam Brian don't do it

    Reviewed April 11, 2024

    These Scammers told me 1 month ago I was approved. 1 month later after talking to their customer support every day in India they DECLINED ME. They just lie thru their teeth. I hope they get shut down.

    Loan ProcessRates

    Reviewed April 6, 2024

    Don't do it. If you have ANY other legal way of getting money to help you out, do that instead. I got a loan from here and ending up paying far, far more than my original loan. This is a PREDATORY LENDER. Part of your loan is taken upfront, so you never see the full amount; if you cannot pay it off immediately, you will incur crippling interest.

    Customer Service

    Reviewed April 1, 2024

    I had a loan through Lending Club that was paid off almost a year ago and it is on my credit report as 10 missed payments! I have called and called and nothing is ever done. Just today they put me on hold for over 35 mins and never came back after "needing to verify it was in fact paid off". DO NOT USE!


    Submit a Complaint to Consumer Financial Protection Bureau. cfpb protects you against people like this. They helped me out with shady banks, lenders and other financial institutions in the past. Also go to all 3 credit bureaus and file a dispute.

    Profile pic of the author.
    Customer ServiceStaffRates

    Reviewed March 29, 2024

    Got the loan... then went to confusing website... and worse was customer service. I paid it off before payment was due still got an interest bill... called and thank god got a nice person and closed my account.

    Customer ServicePunctuality & SpeedOnline & AppStaffLoan Process

    Reviewed March 11, 2024

    I originally got a loan through Lending Club and they were Fantastic to work with. Once the first was paid off I went to them for a second loan, and I should have been wary because my experience was very different this time. The loan process took forever despite the fact that I was a previous borrower with 100% good standing and on time payments.... The application process was "less than" smooth or quick the second time.... THEN, last month when I changed the payment date (per instructions on their site) Lending Club proceeded to take a second payment out of my account that same month leaving my account overdrawn. Customer support (I use the term "support" in its broadest sense) said that they would "credit" the second payment to the following month. 2 weeks later I get an email notifying me that my payment WILL be deducted.

    Another call with Lending Club's "support" team who REFUSED to do ANYTHING at all despite the fact they could see the notes about the 2 payments and credit toward this month. Instead they instructed me to call my bank and dispute it with them.... These people REFUSED to acknowledge the trouble they have caused me and REFUSED to honor what they told me they would do to correct the error...As a result they have wrecked my financial situation and could honestly care less that they did... STAY AWAY FROM LENDING CLUB! Lending Club was a great company once upon a time. I don't know what has happened there, but Lending Club will screw you and does not care about their clients or the damage they caused. Lending club will accept no culpability for their actions, and their customer service will tell you one thing and then do the complete opposite. I would NEVER recommend Lending Club to my worst enemy the way they operate now....

    Customer ServicePunctuality & SpeedLoan Process

    Reviewed Feb. 2, 2024

    Actually, my experience started with another company affiliated with Lending Club. They were high pressure and applied for a loan through Lending Club without my knowledge. When all the smoke cleared, I found out about the loan and called them and asked them to cancel the loan, I didn't want it. They kept it long enough to the point where first payment was due and of course not paid, so they reported late payment to the credit bureau. They said they would remove it, but it's still on there. My excellent credit is destroyed.

    Loan Process

    Reviewed Jan. 24, 2024

    I had applied online for a personal loan from Lending Club. I wasn't aware it had been approved until I was looking at my bank account on 1-5-2024 and saw a $11340 deposit from them on 1-2-2024. I no longer needed the loan and called to cancel. I was told it was outside of their time frame to get fees and interest refunded. I had to pay back $12021.25. How can I cancel a loan if I am unaware it has been approved?

    Profile pic of the author.
    Customer ServiceLoan ProcessRatesTransparency

    Reviewed Jan. 22, 2024

    I am writing to express my dissatisfaction and concern regarding my loan experience with Lending Club, specifically under loan number **. I took out a loan in May 2022 for $40,000, but the initial amount I received was only $37,600. I was informed that the $2,400 difference was an initiation fee. Since then, I have diligently made payments totaling $20,330, and I also discovered that and This brings the total amount paid to $22,730. Upon checking my balance on January 18, 2024, I was surprised to find that I still owe $33,000. It appears that out of the $20,000 in payments, only $4,600 has been applied to the principal amount. I contacted Lending Club on the same day at 1:22 PM and after being transferred three times, I spoke to an individual named Paul. Unfortunately, he refused to provide me with his employee ID number or last name, spoke over me, and failed to offer a clear explanation for the discrepancy.

    Not only have I not received the full loan amount initially agreed upon, but I have also paid off almost half of the loan, and yet I still owe $33,000. Paul's unprofessional behavior during our conversation was unacceptable, and I believe there is a violation of the law against predatory lending in New Jersey. In light of these issues, I intend to file a complaint with the Better Business Bureau and the State Banking Commission. I urge Lending Club to address this matter promptly and ensure that its employees are trained to communicate professionally. The loan was for $37,600 with an interest rate of 20.49%, and I should only be paying $7,000 in interest, not the current amount of $40,000.

    Profile pic of the author.
    StaffLoan Process

    Reviewed Dec. 15, 2023

    I was contacted on 11/27 and 11/28. I spoke to two different people. What I was excited about, a loan, turned into a nightmare. These people contacted my bank and filed two claims. They took $2300 from my account and I was not aware of what they had done. They gave me the Instructions of what I needed to do. In the end, I returned my own money to them without knowing what they had done. Out $2300.00 I am jumping thru hoops to get these people caught. They say they are in San Diego, but that is probably not true either. If they reach out to you, it will be Roy or Paul... Beware. They are scammers.

    Customer ServiceLoan ProcessRates

    Reviewed Dec. 4, 2023

    This so called Lending Club or the Webbank is a harasser for the loan you take and when you face difficulty in payments they never help you to find a way so that you can still make the payments on a reduced monthly payments or reduced interest or increasing the payment time in months. All these are promised somewhere. They say they help people with hardship payment plans. INSTEAD THEY WILL harass you saying they are going to sell your loan to a collection agency by writing it off. When you call or email they never help you. Also they will take the origination fees from your loan in $$$ so you will lose your loan amount in the beginning and they still making lots of money BUT no help for anyone takes a loan BUT harassments. So not a good lender at all.

    Customer ServiceOnline & App

    Reviewed Nov. 27, 2023

    This company is utter trash. I had a large amount of money in a savings account and then withdrew the money for a while but pulled it out when I realized how difficult it is to get any help with my account. The website is difficult to navigate and it is a pain to do anything at all. The real kicker is this. Last year, I asked for my 1099-INT for my taxes and it was sent to me twice via Docusign. It was then sent the next day and the next day for weeks. I can't block Docusign in my email because I need it for work. It was sent by someone named Rachel **. I emailed her back directly asking her to stop. I received no response and it continued. I was eventually able to get it to stop but I don't remember how. Which brings me to today.

    I asked for a couple of bank statements two weeks ago and the Docusign emails started again. It is Rachel ** again and she does not respond to emails. Here I am writing on their Facebook page because I don't know how to get them to stop. I truly hate Lending Club and will NEVER do business with them again. The worst, most unprofessional bank I have ever encountered. The level of incompetence is astounding! I can't believe I ever trusted them with such a large amount of money. Thank God I cut ties with them. Stay away from this place!

    Verified purchase
    Customer ServiceLoan ProcessRates

    Reviewed Oct. 15, 2023

    I got a consolidated loan from LendingClub. When I applied on the phone, it showed me that I was gonna pay a certain percentage for my loan, and then when I got all the paperwork and it was approved, and I signed it, I wasn't really happy with what I saw as far as the interest rate and how much percentage I was paying back. That was deception right there when it showed me one number before I got approved, and then when it came back and gave me my contract, that percentage was almost 7% difference. Over a three-year period, it would add about another 1,800 to my loan amount, which is what it did. I didn't think I was gonna pay almost a quarter of what I borrowed. That's called loan-sharking. They're helping people out, but do they really need to get money off of people who are already suffering out here?

    I could have filed for bankruptcy, but that's not an option for me if I wanna keep my credit. So the other option was to consolidate, but to get that kind of amount coming back at me for 36 months left a very bad taste in my mouth. I'm happy I got approved, but I already knew I could have gotten approved somewhere else, and I was just in dire straits at the time.

    Customer ServiceStaffRatesTransparency

    Reviewed Oct. 11, 2023

    I happened to be a customer of the bank for a few years. Eventually, I moved most of my funds out the bank due to lower interest rates. Lately, I've noticed that the bank has competitive CD interest rates and decided to open a 1yr CD. Strangely, you cannot open an additional account from your online dashboard and should apply as a new customer, regardless of your existing accounts (I have checking & savings accounts active). I set up substantial amount of money as ACH transfer from my other external account. In a few days of silence I contacted LendingClub bank to inquiry and learnt that my new account still under review. I asked the rep do not transfer my funds over weekend: each calendar day I'll lose $30+ in interest, including weekends.

    The rep become aggravated and rude, I replied that if they move my money over weekend I'll cancel the new account application and move my business somewhere else. Immediately after the chat ended my online access to my accounts was blocked "due to recent activity". LendingClub bank has requested a copy of ID, a recent statement from my external bank and screenshot of my online dashboard of my other external account to be provided with to some Kiteworks.com, who I have no business with. Anyway, I complied and in 2 days I received email saying that "my accounts will be closed and in 15 business days" they'll mail a check of remaining balances.

    BTW, I even don't remember how much money exactly I have with them and will not know because my online access is blocked, and they won't respond to my emails. Luckily, they didn't have a hold of my transfer, otherwise I would lost about $600+ in interest. The only reference I have is: Reference # **. This is my true story: no explanations, no remorse, nothing from the LendingClub Bank. Today, 22 days later - no check, no the account access, nada: as per CSR the account is "on hold". Think twice.

    Reviewed Oct. 4, 2023

    We made a double payment on our account by mistake. It took me calling 4 times throughout the day to get a manager. When I finally spoke to a manager, I was denied my refund because I “authorized it”. Even though it was a mistake, it is Oct 4, the payment was not due until the 21st. So I overpaid my account and was denied my refund. It was the worst service I’ve experienced in a long time and we’ve been recurrent customers since 2016!! Absolutely absurd, I even explained I’m now negative in my account and can’t afford to pay my electric bill or buy food.

    Verified purchase
    Online & AppLoan Process

    Reviewed Sept. 21, 2023

    The application at LendingClub was a very super easy process. They didn't make anything difficult. Everything was online. It took about 10 minutes.

    Verified purchase
    Punctuality & SpeedOnline & AppLoan ProcessRates

    Reviewed Sept. 20, 2023

    The application process was pretty quick. It was all online and I did it all from my phone. Their website was pretty user-friendly. I took a little bit longer in going through the loan application or which loan interest payment that I wanted to go through. The only thing that I found questionable is that the loan that I had taken out was about a $5,000 and they said something about the amount that got deposited in my account was 4,700. I don't know where the 300 went or what it went for.

    Verified purchase
    Punctuality & Speed

    Reviewed Sept. 14, 2023

    Service was quick and easy. Deposit of money and sent to creditors was timely as promised. Could have used a bit more money and better rate. Still happy with the end result. I would recommend Lending Club to friends and family.

    Verified purchase
    Online & AppLoan Process

    Reviewed Aug. 30, 2023

    The application process was fine and pretty normal. The approval process took a while. But it wasn't a terrible experience overall.

    Customer Service

    Reviewed Aug. 25, 2023

    Finally answering their call I was told approved filled out paperwork with him on phone then at bottom of paperwork it asks for my bank username and password! Ain't no way that's normal, I hung up on him

    Verified purchase
    Loan ProcessRates

    Reviewed Aug. 10, 2023

    LendingClub was able to give us the best rate in consolidating several accounts into one payment. The process was simple.

    Verified purchase
    Loan Process

    Reviewed Aug. 8, 2023

    This was a very easy process! Once approved, the funds were deposited in my account within a week. Between applying and being approved was a little weird limbo, like I wasn't sure what the next step was but overall great experience. Very easy step by step process. Would defiantly recommend using LendingClub.


    How long was your limbo with Lending Club?

    Verified purchase
    Loan ProcessRates

    Reviewed Aug. 5, 2023

    I’m happy with how easily you processed my home improvement loan. I’m looking forward to renovating my small kitchen. I chose this lender because I needed five years to pay off my loan and your rates are competitive. I used LightStream to help renovate my bathroom so I’m a returning customer.

    Verified purchase
    Customer ServicePunctuality & SpeedLoan ProcessRatesTransparency

    Reviewed Aug. 4, 2023

    A very simple and fast process. Thorough communication and information. No issues with the LendingClub documentation or requests. Time between the initial request and then the payout was less than 7 days. The rate and final information were quickly completed. Never was forced to complete and or add additional information. Much better than using an accredited banking system.

    Verified purchase
    Online & AppStaffLoan Process

    Reviewed July 27, 2023

    The gentleman that I spoke with was very helpful and I appreciated the level of support that I got on the front side of things. The application process was very easy and smooth. LendingClub was great to work with.

    Verified purchase

    Reviewed July 25, 2023

    LendingClub had a lower payment than anybody else. I went online and put in how much I needed. They quoted me the price and within 24 hours, I got approved. Also, I enjoyed my interactions with their reps. They were nice people and they answered my questions. I would recommend them.

    Punctuality & SpeedLoan Process

    Reviewed July 22, 2023

    I have had 5 loans through LendingClub in the past and have paid them all on time and paid off way ahead of schedule. I had a situation come up where I needed a quick small loan in the amount of $3600. I make a great income and provided my pay stubs and 2 years of tax returns to validate. On top of this documentation they were requesting for me to fill out ANOTHER document giving them permission to receive tax transcripts from the IRS! Not only is this a big inconvenience to print, fill out form, send back etc... it is, in my opinion, WAY over the top for such a small loan and for a very good existing customer of theirs. I decided to withdraw my application and go with a lender who is MUCH easier to do business with.

    Loading more reviews...

    LendingClub Company Information

    Company Name:
    Year Founded:
    71 Stevenson Street, Suite 300
    San Francisco
    Postal Code:
    United States