LendingClub

LendingClub reviews

 3.8/5 (105 ratings)
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    Written by Jessica Render
    Edited by Vincent Landino

    About LendingClub reviews

    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.

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      Overall Satisfaction Rating

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      Pros

      • Quick, easy online application
      • Fast money delivery
      • No prepayment penalties
      • Fixed interest rates

      Cons

      • Somewhat high minimum APR

      Bottom Line

      LendingClub is a lending marketplace that helps consumers get loans for various purposes. LendingClub also offers online banking. You can apply for one of its loan options or sign up for a bank account online.

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      Page 3 Reviews 40 - 70
      Rated with 1 star
      Verified Reviewer
      Original review: Sept. 14, 2020

      I mailed a cashiers check to pay off my loan and they received it on August 31st, 2020 at 9:30 am. I am still waiting on for the over-payment due back to me and keep getting the run around. It should not take 2 weeks to get your money back. I have made several calls still no refund. This is horrible business practice. I will never do business with them again.

      8 people found this review helpful
      Rated with 1 star
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      Verified Reviewer
      Original review: Sept. 8, 2020

      WORST CUSTOMER SERVICE. I called to cancel my loan application and was advised that it was cancelled. A week later, the funds were in my account. I called again and was told there weren't any notes on my account and the call would be reviewed. I was told to call back a week later. I did so and was put on hold 3 times and hung up on 3 times. On the 4th attempt, I was transferred to someone who said they would escalate the issue and review the call. I was told this was done 3 weeks ago. I never agreed to this loan that is on my credit report and would very much like to return the money.

      14 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: Sept. 5, 2020

      Lending Club is HORRIBLE. At the beginning of 2020 I stopped allowing them automatic withdrawals from my bank. I called them and made a deal to pay things off on my fourth loan with them. I'd never had a problem. I was told it was all set up and the new withdrawals would be made and I gave them permission. It's been a dog's breakfast ever since. They have satellite operators who usually don't know what the hell anyone else has done. In the last loan I have with them, I have set things up FIVE TIMES with different operators and been told everything is good. But for a couple of months I thought things were being taken out and forget about it. They didn't.

      I called to find out what was going on and they said, "Oh, you were sent to collections." So I got that straightened out and paid. I wrote the CEO about it - NO REPLY, NOTHING. I called August 2020 and an operator in Houston told me it's all straightened out now. But guess what? IT WASN'T. I got a letter today 9/3/20 saying, "Oh, you didn't make your payment." STAY VERY FAR AWAY FROM LENDING CLUB, they're horrible.

      14 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: Aug. 25, 2020

      I’ve applied and they ask same docs needed if you’re applying for a mortgage. After verifying 2 years of tax return, 2 past pay stubs and checking account. They said they could not verify employment verification through my HR phone number. After about 3 weeks I gave up and cancelled my application. I’ve gotten loans with other companies with much faster process and lower rates. I highly recommend to stay away from this company.

      14 people found this review helpful
      Rated with 1 star
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      Verified Reviewer
      Original review: Aug. 21, 2020

      My experience with this company has been an absolute nightmare. They took my money, then claimed they could not verify me. They locked me out of my account for 2 weeks. I submitted all of the documents requested and still they revoked access to my own money. I requested them to refund my money back to the original source. They have not done so. They are ignoring repeated emails and phone calls. They have stolen my money. Beware.

      15 people found this review helpful
      Rated with 1 star
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      Verified Reviewer
      Original review: Aug. 20, 2020

      If I could give negative stars I would. Where do I start? I signed up with this company thinking it would help but it didn't. When I filled out the application the phone calls started to roll, cool in which I'm thinking. When I spoke to the individual I asked before I took the loan if I could split the payments up, and was told yes, as long as it's paid before the due date. So I accepted because I had all of my finances lined up the way I wanted them. This was the whole reason why I signed up to get a hold of finances. When it was time to make the first payment I wasn't to break it up like I was told and I had to pay the whole amount.

      I immediately called Lending Club and was told that I can't break up the payment, I can make an extra payment if I want to but it can't be broken up even if the amount is paid before the due date. Talk about a blow to the face, you get these emails saying take a loan to help pay off your debt and yes it all sounds good but nope that's not the case. So after making months of payments I applied for SCRA the Soldiers and Sailor's Act to try to lower the payments because these payments are killing me.

      This company has said no every time I have applied. So last year I deployed to Iraq and even provided a copy of my orders to see if me being out the country works because that is how the benefits works. After sending the emails and not hearing anything for a while, I finally got my hands on a calling card and called this company. Again they denied this benefit, and I told them, "I'm not trying to get out of paying this, but lower the interest rate." She informed me that you can't refinance, nor can the interest rate be lowered. "We are not obligated to order the SCRA because you were already in the service when you took this loan."

      So I'm finally back because I was overseas when COVID-19 took off, and again they are no help. I keep explaining to them now the money isn't coming right now and I need to lower these interest rates because I need to make up payments that my spouse can't make. I have other bills that are coming in and I need to pay those as well. I even asked if I could break the payments up instead of the payments being taken out all at once, and guess what. I was told no again. I have called and they said I could make payments late with no penalties but I don't want to be late, nor do I want to miss any payment, I would like the rates to be lower, or let me break the payments up.

      Finally being home I was able to call to and asked how can I write a review and was told to send an email if I want to write a review. Any of my friends who are going through hardships due to COVID-19 I would not recommend this company, they are no better than payday loan stores if you ask me. I have so much to say but I doubt anything would be done. If you are Military do not work with this company. They are not military friendly at all. If I was trying to get out of making these payments then I would understand your company saying no, but I'm trying to do the right thing by making these payments. I took this loan to get out of debt, but now it's like what's the point since you don't have the money to pay your other bills.

      8 people found this review helpful
      Rated with 1 star
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      Verified Reviewer
      Original review: Aug. 20, 2020

      I have a much higher Fico now than when I took the loans out. Tried to consolidate them one at 14.87% and one at 12%. They refused me due to high credit on my credit cards which is 20% and I already have 2 loans. I am trying to combine them. The customer service rep was out of country and didn't understand.

      7 people found this review helpful
      Rated with 2 stars
      Verified Reviewer
      Original review: Aug. 12, 2020

      I took out a loan through LendingClub to launch a business in 2018; the interest rate was quite high considering my credit, but I agreed to it, and they were upfront about everything. Once I attempted to pay my loan off, however, I was met with total incompetence and a complete lack of responsiveness. I decided to aggressively pay off the loan in its entirety a couple of months ago, and I made a large payment in late June a couple of days BEFORE my official pay date to pay off the loan.

      A few weeks later, I get an email notice that my June payment is late, despite showing the large payment I made. I contacted LendingClub through the web site to find out why this was the case, and they let me know that I still had some deferred interest to cover. "Sure," I said, "but why am I showing that I'm late on a payment AND why does the site say I owe $0?" Before forking over more money, all I asked was for a statement so that I could have an official document showing that I owed what they said considering my account on the website showed no balance; they simply responded back with a dollar amount in the body of the email and no explanation.

      I called directly, and stated that I was willing to pay whatever was legitimately owed, but I wanted to see some breakdown, and the online portal for my account had nothing on it, showing that I owed $0. I was told, "I'm sorry that's how our system works, I know it's a problem; our website kinda sucks." I could tell the customer service person was genuinely sorry but couldn't really help.

      I also inquired about why I was showing a late payment when I paid a larger-than-required amount TWO DAYS BEFORE THE DUE DATE, as I take my excellent credit very seriously. The service rep said not to worry about it. Within two weeks, I got a threatening email stating I would be reported to the credit agency for being late on my loan payment. I called and again spoke to a customer service rep who was trying to help, but couldn't. She said I needed to speak to a manager, but unfortunately, there was no manager there that day! Please keep in mind, I was talking to her mid-afternoon on a Friday, not in the middle of the night! She said it did appear I was about to be reported to the credit bureau.

      I decided to simply make the payment that I was told I owed without substantial documentation rather than fight with the credit bureau for months on end since no one at this organization could either explain why I was showing a late payment or provide even a remotely helpful financial statement showing what I still owed. This is without a doubt the most backward, useless lending organization I have ever interacted with, and throughout both my personal and professional life, I have interacted with quite a few. Marcus by Goldman Sachs, My Best Egg, Chase, SoFi, and many others are much more responsive, knowledgeable and helpful, and their sites actually work as advertised.

      8 people found this review helpful
      Rated with 2 stars
      Verified Reviewer
      Original review: Aug. 7, 2020

      I have had 4 loans with these guys in the past and they were all paid on time and paid off. The other day I applied for another loan with them and was turned down. 785 credit score with 2% debt ratio with no collections or late/missing payments on my report. What gives?

      5 people found this review helpful
      Rated with 1 star
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      Verified Reviewer
      Original review: Aug. 3, 2020

      I tried to set up an investor account but they already had my e-mail on file from when I explored rates on personal loans a few years ago. They designed the system so that you have to have separate investor and borrowing accounts so I cannot create an investor account. My e-mail is locked into a borrower account. You would think that perhaps you could close the borrowing account or change the e-mail to free it up for an investor account, but unless you have a loan you cannot control anything on the borrowing account. It just forces you to apply for a loan.

      The customer support is slow and hard to access--I would make it hard to access to if the most basic elements of the website as dysfunction--so I haven't heard back. Needless to say, I never made any investments and I didn't want a loan so forcing the loan application down my throat didn't achieve anything. I don't understand how a company based in SF could have such incompetent people in control of the user experience and design--it is the front door of the business.

      Be the first one to find this review helpful
      Rated with 2 stars
      Verified Reviewer
      Original review: July 29, 2020

      I opened an account with LendingClub in April 2020. The application process was easy and interest rate was fair, so establishing the loan went well. Since the onset, I have made payment thru my bank billpayer and have no issues with payments arriving on the guaranteed date that billpayer provides (I make 20+ other payments to creditors per month and have never had an issue with payments arriving late). I have now made 4 payments to LendingClub and have always submitted them with a guaranteed receipt date prior to the due date on my loan and in EVERY case LendingClub has posted these payments 2 to 3 days late and charged me interest for those days.

      I understand that it doesn't add up to a lot, but this is not acceptable to me. I am guessing that they do this to many clients and it does add up to a significant amount. When I spoke with customer service at Lending Tree they told me that they processed the payment when they got to them and they do not back date the payment to date received. They also wait for my payment to clear my bank account before posting the payment to my account. When I asked to speak to a supervisor I was told none were available and that they couldn't do anything to help me anyways. This is absolutely not the way to treat your customers. I will never use this company again.

      5 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: May 29, 2020

      I have attempted to obtain a loan multiple times through Lending Club. My credit score is around 710. No collections, charge-offs, 1 late payment to Kohls (30 days--I missed one minimum payment because I thought charge would be on the next months bill). I have been approved but the "low rates" they advertise are not factual. The APR on the loan offered was OVER 25%!!! I feel they are very dishonest to keep advertising themselves as a low rate option.

      5 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: May 26, 2020

      I have had 2 previous loans with Lending Club. Payments were always made on time and I paid both loans off early. I recently applied for a loan and was told several times that I had been approved. I would check every couple of days for an update and all they would tell me was that it was in process. This was told to me at least three times so I waited and was planning what I was going to pay off with this loan. Then after waiting for about a week and 1/2, I received an email that I was not getting the loan for some bogus reason. I feel that this was very shady and I should have never been told that I was approved and then told that I was not. This is a very unfair way to treat a long time customer.

      5 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: May 17, 2020

      I had a loan through Lending Club, I scheduled an early pay off and they took the pay off plus an additional payment. They tried to make it look like my fault, I still haven't received my refund 5 days.

      3 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: April 27, 2020

      BEWARE!! Took out a loan Sept 2018. I am in great standing on my end. I receive an error when I try to log in. No access for 5 weeks and no one will help me. They will not provide me paper statements.

      Be the first one to find this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: April 13, 2020

      Origination fees are misguided on amount if paid off early... Suppose to pay back in 10 days. It's been much longer. Still no refund... Three customer service reps all tell different stories... This place is trash.

      4 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: April 13, 2020

      I called to have my payments deferred due to my job being affected by Covid-19. The only option was to defer for 2 months but interest would still be tacked on during the two months. I called to inquire about this situation and the person I spoke with told me they aren’t a financial advisor so they really shouldn’t be explaining this to me but if I pay off my loan on the original promise date I wouldn’t end up having to pay any additional interest.

      The person was not explaining this to me in a way that made sense, still doesn’t. So I asked my partner to get on the phone with me because I don’t understand what they are talking about. The person on the phone then got a bad attitude and said get me off speakerphone. I informed the rep that my partner helps me pay bills we share all debt so we have a right to speak about this together. She refused to speak with both of us. I called back asked to speak to another rep who also said they can’t speak with my partner and myself together. I asked for a supervisor or manager. They put me on hold for a very long time and never got a manager on the phone. On top of all this the minimum payments are so high. I pay 396.00 a month and only 290.00 is put against the principal payment. They charge interest per day. There is no statements available to view how this interest accrues. It’s all so shady and I wish I never got this loan.

      5 people found this review helpful
      Rated with 3 stars
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      Verified Reviewer
      Original review: April 9, 2020

      I have been making loans on Lending Club for about two years now. I don't understand the logic behind this. Lending Club charges the borrower a fairly large "origination fee" and that fee goes only to the Company. So then I as the investor am given the right to take on $25 or $50 of that loan and at some point if enough "investors" sign up for this then the loan is finalized and the borrower (hopefully) starts making payments. Then as the payments come in, the Club takes a percentage of the payment in addition to the fee they already charged the borrower. Fairly often the borrower defaults.

      I could go on and on about what I think about the vetting and grading process of the borrowers (which I think is severely lacking) but I don't see what the Club's incentive is to be cautions with their grading system. They benefit greatly if the loan goes through and they suffer nothing as far as I can tell if the loan defaults. I have found this experience to be a waste of time and while not a complete waste of money, not a particularly good investment. Let's face it, the only thing we know about the borrower is what LC decides to tell us and much of what they do tell us is just what the borrower puts on his/her loan application. The club does not seem to verify employment history or current income. I am assuming they give us an accurate credit score but we have no way of knowing that. This was kind of fun at first but now I just want the loans to be paid off so I can use the money for a more practical investment.

      8 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: March 19, 2020

      I just explained to the operator that I've been hospitalized since the beginning of March with two viruses the doctors were trying to get to the bottom of. I was even intubated in ICU for 4 days, with the doctors themselves giving me a 50/50 shot at survival. I called Lending Club and explain that I don't even know when I'm going to be discharged and I need to sit down with all my bills when I get home. The operator offered a 15-day grace period. Isn't that generous? I still have tubes coming out my arms and unable to use the bathroom on my own, but they'll give me a 15-day grace period. Given what's going on in the world at the moment, I expected a little more compassion and humanity. Apparently that is not the Lending Club brand. Shocking and disgusting.

      17 people found this review helpful
      Rated with 2 stars
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      Verified Reviewer
      Original review: March 9, 2020

      Getting approved was a nightmare. Took a lot of time. They needed everything under the sun. When they would get it, they needed more of the same thing. It took longer than usual from other lenders, to get anything done. It even takes a while to get the money. There is even a big fee (for what,) I have no idea, to even get the money. It comes out of the loan. If it was up to me, I would not have done this loan. My wife was the one who followed in with it. She didn't tell me any of the fees until after the fact. 750.00 just to get a loan, then, the big APR, and the interest rate was very high. Seems to me like sharks in the water.

      12 people found this review helpful
      Rated with 1 star
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      Verified Reviewer
      Original review: March 5, 2020

      I was impressed with Lending Club when I first took out a personal loan even though their rate was a bit higher than a local bank. It was easy to apply, easy funding and easy to change payment due date. Their online services became frustrating. Instead of helpful information it is full of marketing nonsense. Every other financial institution I do business with can provide an e-statement. To get a statement you have to call, wait 15 minutes on hold while hearing an annoying person tell you to go online for faster service, then you’ll have to explain why you need a statement. The representative told me it wasn’t necessary because the email reminders if you're late...

      Finally a floor supervisor I confidently said they would go to the back office and have it processed. I think they were going to get the typewriter out... Getting an account statement should be simple with today’s technology especially for a company based In the tech center of the Universe. I wish I could say nice things. Maybe they will read this and realize their shortcomings. The floor supervisor got on the line and told they would process it. I asked when.

      12 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: March 5, 2020

      Decided to take the loan they offered by mail in order to build up my credit score. Was a bit suspicious, offer looked too good to be true. Suspicions confirmed. Interest calculated daily. No details statements provided to explain interest calculation. Online data hidden from view, customer must click around to find incomplete "payment history." Have made several very large "extra payments" to pay down balance.

      In one instance, made an "extra payment" two days before regularly scheduled "automatic monthly payment" and accumulated $69.27 in interest in only 48 hours. "Balance" does not show daily interest calculations. Customer must click on "Pay off my Loan" to see true balance. Customer service phone number takes long time to speak to human. Customer service reps speak down to customers, have had some snicker/laugh, and all always state: "Well, that's how our system is, we are a paperless company" when I have asked for detailed statements that disclose interest accumulated, billing periods, etc. Am happy I will pay this loan off within 6 months of obtaining it. Strongly advise consumers to not take a loan with this company. Better to just borrow from your local loan shark than one in cyberspace.

      9 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: Feb. 25, 2020

      I have received numerous loan offers from this company. I have e-mailed them and contacted them via USPS asking them to stop sending offers to me. They continue to do so. I have contacted the three main credit bureaus requesting that this company stop send me pre-screened offers. They continue to do so. They are also sending offers to a non existent person at my address. These people do not listen. I have advised them again, that if I continue to receive offers, I will file a lawsuit against them.

      7 people found this review helpful
      Rated with 5 stars
      Verified Reviewer
      Original review: Feb. 19, 2020

      I got one loan for my business 3 years ago with them, my credit score was in 687 and I got a loan easy, now I get a new loan with my fico in 758 and easy too, so apply, very high recommend. Was in account in 4 business days.

      2 people found this review helpful
      Rated with 5 stars
      Verified Reviewer
      Original review: Feb. 8, 2020

      The ease in which filling forms online were extremely fast and easy. And with a brief follow up phone call to verify information, I was provided my loan within a very short time after. Doing business with LendingClub has been a pleasure!

      5 people found this review helpful
      Rated with 5 stars
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      Verified Reviewer
      Original review: Feb. 5, 2020

      This is my 3rd loan with Lending Club and have never had an issue. They are great to work with and easy to apply. Money comes in about 3 days and they automatically take the payment out of my bank so I don't have to do a thing.

      6 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: Feb. 4, 2020

      While Lending Club may have started off as an option to diversify investments it has truly fallen short in the long run. The desire to give out more loans have led to multiple failures in underwriting as evident in their discontinued rating system of E, F, G likely due to too many defaults. I personally have been investing with LC for 3+ years and have had about 20% default and it does not seem to be consistent across tiers. I have had just as many A & B loans default as I have had D's. There may be some decent but low % returns for institutional investors but even those are likely shrinking. Peer to peer lending isn't as advertised until there is better quality control on applicants and better retrieval of defaulted funds.

      15 people found this review helpful
      Rated with 1 star
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      Verified Reviewer
      Original review: Jan. 31, 2020

      In late April 2019, I took a personal loan from LendingClub and was first believed that it would be cheaper for me to pay off the loan versus a high interest credit card. Well the loan I received was for $7200, although I only received $6768, which they took $432 in "origination fees". With interest each month accruing at 16.06% APR. My first payment being due 5/24/19 and due on the 24th of each month, I faithfully and fully made my monthly payments which was automatically deducted from my account, as well as sent in additional funds most months to pay it down faster as additional funds paid before the account is automatically debited are always applied to the principal ONLY.

      In January 2020, I decided to pay off my account in full and sent in a $5000 check which cleared their system on 1/21/2020. I was completely aware that this would NOT be the payoff amount, but after the complete payment was applied to my principal PRIOR to 1/24/2020, I would owe $147.23 for the principal and whatever additional amount added for the complete payoff. This is where it gets icky...

      My account was already paid for Dec 2019 in the total amount due which was $238.15 with interest being deducted which was expected in the amount of $52.04. As I stated, I sent a check for $5000.00 and it cleared before 1/24/20, which was my next due date. Now prior to this payment, which was clearly designed to pay down enough since I did not have the entire amount that needed to be paid for the payoff, all additional payments are specifically directed towards THE PRINCIPAL BALANCE, as the normal payment is automatically deducted as scheduled on 1/24/20. I began calling and speaking about this on 1/22/20 with the intention of paying off my entire balance BEFORE the 24th of the month.

      I saw that the company misappropriated my funds and took out the monthly payment BEFORE the 24th along with the Interest even though they already received the appropriate payment on 12/24 and my next automatic payment was due in a few days. I of course pointed this out and asked REPEATEDLY for my entire check amount of $5000 to be applied to my principal balance which should have brought my principal due to $147.23. I was placed on continuous hold for and was on the phone each time I called for minimum 50 min or so with them constantly stating they have to review and run it by their supervisors. I kept asking to speak to one, which I was never able to do.

      EVERY PERSON I SPOKE TO EACH TIME KEPT TELLING ME THEY HAD TO PUT IN A TICKET TO REQUEST THE FUNDS TO BE PLACED PROPERLY. This went on and on until today, 1/31/20. I clearly see how they misappropriated the funds to manipulate and acquire more money in interest and robbed me of funds they had no right to. I also spoke with a manager of a brick and mortar Bank who stated that he clearly saw what they were doing as well and there was no cause for it other than to get as much funds as they could since they had not expected a payoff this early in the loan.

      I fully expected to pay off the remaining balance of $147.23+additional payoff amount before the 24th, but they misappropriated the funds and kept arguing and trying to misconstrue the situation in order to avoid appropriately allocating the funds. A couple of the representatives, EVEN the last one I spoke with who agreed that I did make 2 payments from 12/24-1/21 that totaled the amount of $5,238.15 AFTER she stated that the total that I paid equaled to $5000.00 according to their "system". They clearly saw what I saw and tried to convince me that what I was seeing with my own eyes which their system tracks was incorrect and that my total payment equaled to $5000, not the $5238.15.

      I was so frustrated with their complete lack of honesty and disregard for fairness and accuracy since they were not getting all of the expected fees from me for interest and such, I just paid off the account and told them that I was going to document their dishonest behavior with the BBB and online to try and warn others about the misdeeds this company commits. Everything I asked for was completely in line with what their policies state and the fact that I'm paying off my loan early should not give them the go ahead to try and misappropriate funds to work out in their favor.

      They kept talking about additional fees I would owe if they reversed the amount (which of course was going to apparently take another 3-5 business days which of course they wanted to say would put me in the late status even though I already sent them money as well as tried to complete this process and pay off the account BEFORE the 24th when it was due), and basically stalling yet again. I know that they committed fraud and theft. I have the documentation to show how they improperly allocated the funds and and tried to justify their actions by saying that they took out the amount due before it was actually due and applied it to the account with additional interest taken out.

      They are a completely shady company and they should be investigated. Along with an investigation for my account, I would like a refund of excess funds paid and a formal apology for the lies and outright mishandling of my case. I am also supposed to get a refund of a portion of my origination fee, which of course I am expecting for them to try to diminish as well, but of course I will be monitoring the situation as we move forward.

      I would HIGHLY suggest that any person thinking that they should go into business with this company to rethink their plan. This business is completely about their own self interests which is to be expected, but lying, procrastination and outright theft seems to be in their playbook, so please beware. I unfortunately did not review this company from BBB before doing business with them which of course is a mistake that I will never make again and advise ANY AND EVERY PERSON I KNOW not to as well.

      40 people found this review helpful
      Rated with 1 star
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      Verified Reviewer
      Original review: Jan. 30, 2020

      I have been a retail investor on the platform for over 5 years. At first, Lending Club was a very good company. I had (and still have) a substantial amount of money invested. However, late last year they announced on the website that several states (mine included) no longer can participate in the primary market. That rendered my substantial investment basically useless at that point.

      They offered no (and are still offering) no transparency as to why, when, or if, access to the primary market will be restored. So, I have been trying to liquidate my position. Problem is, I invested IRA (qualified) money that has to move trustee to trustee to avoid taxable events. I have found their support staff to be less than competent in helping me get that done (with their advice, I now have a sizeable tax event that should not have been), and I cannot seem to get anyone at that company to take ownership of this problem in getting it sorted out. As a platform to invest in, I'm OUT. I am BEYOND frustrated with the company.

      12 people found this review helpful
      Rated with 5 stars
      Verified Reviewer
      Original review: Jan. 29, 2020

      Very easy to apply and get approved. The only negative thing is that I already had a loan with them for a year and a half and never missed a payment. My credit information shows I haven't been late on any payments for over 5 years yet they charge a very high rate of interest like 30% on their loan. I could understand this with someone with bad credit but there should be a break for people with good credit. Plus on a $17000 loan I only got $15980 deposited into my account. So if you want a easy loan here it is but be ready to pay high interest rates.

      11 people found this review helpful
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      LendingClub Company Information

      Company Name:
      LendingClub
      Year Founded:
      2006
      Address:
      71 Stevenson Street, Suite 300
      City:
      San Francisco
      State/Province:
      CA
      Postal Code:
      94105
      Country:
      United States
      Website:
      www.lendingclub.com