LightStream Reviews

I was instantly approved for a 22,000 personal loan. I called them the next day coz I accidentally picked the wrong loan type, I was told to submit a new application and it would be fine… Well I did that and then they contacted me wanted all this information that they didn’t ask when I was already approved for the money…They wanted my bank statements, w-2’s,tax returns, etc. I told them, I’m not buying a dang house, it’s a personal loan, you don’t need all that. My credit score is 772 and I already have a loan with y’all with perfect payment history. I sent them my proof of income and bank statements, then was denied, their reasoning was they could only verify half of my income

I have applied for multiple loans from Lightstream throughout the years, with every application resulting in a decline. I have top tier credit and employment history and plenty of assets, I believe this is now discrimination and violates regulation B of the ECOA. If you look at the reviews online, this seems to be happening to more and more people. If this happens to you I HIGHLY recommend filing an online complaint with the Consumer Financial Protection Bureau, FDIC, and your states attorney generals office. I believe lenders like these should be held accountable for their actions.

Lightstream advertising up to 100k on personal loans for debt refinancing. Their website was easy to use but do not check / follow up on things before they deny you. It feels automated. Don't waste your time with them.

Do not try to work with this company. It's a scam with the gift card purchase. Tried it and the checks they deposited in my account all bounced. Now they won't answer the phone. Lost over 1000 dollars.

I got a call on May 8th, 2024 inquiring about my loan application by a ** descent named "Brad" after 30 mins of dancing around the APR Question, he told me I was approved. He gave me my load amount and monthly payment amount for 24 months. I was fine with that, he then told me he would put xyz amount in my account, then go to Walmart and with draw the funds and send it to him, then he would send the entire amount direct deposit.

One of the worst lender and crappy experience. Tried two times and always the same crappy experience. They are very consistent in that. They always pull hard credit as opposed to soft pull just to review and then ask for all documents, income info etc and then reject with no apparent reason. They rejected a loan request of $100K - with 780 Credit score and $350K income and 2 millions in asset. Very incompetent and stupid people. Don't waste your time and damage your credit report.

They were always on time and worked efficiently. Service is always top notch. I am very happy with my purchase and would refer.. What they would do, what my bill would look like, and so far, everything's been right on.

They deferred our payments for Covid and didn’t tell us that the end date of our loan wasn’t changing so the entire amount came due with two weeks' notice. They could not produce any documentation showing where they told us this. They refused to refinance because the remaining amount wasn’t large enough, they also refused to let me pay it off with a credit card, then they also refused to change the date of the final draft. I had to pay to put a stop payment at my bank to give me a little more time to get the cash. Will never ever use them again. With all the lending options I really don’t know how they are in business with their extremely poor customer service.

I received a letter from Lightstream that due to my past history with them I was pre-approved. The letter included a code to expedite my new application. I applied to consolidate current debt of $25k and was hopeful to simplify 6 payments per month into just one and lower overall monthly payments by at least $700. To my surprise, I was denied because my current debt exceeded acceptable limits. DUH, this is why I was applying!!!! My credit score was 730 with exceptional payment history at all 3 credit reporting agencies. I had a prior loan history with them for $35k that was paid back in 6 months. What gives? Now I have an inquiry that I would not have had on my credit reports had I not fallen for their deceptive marketing. I truly thought they had appreciated our prior working relationship. Sucker! Never again, from now on all mail from Lightstream is a trash can magnet.

LightStream continues to falsely advertise APRs that it doesn’t honor, even for excellent credit profiles. According to their tv commercials & website, LightStream offers credit card consolidation loans with APRs starting at 7.99% for applicants with excellent credit profiles who agree to autopay. Their website has an interactive calculator in which you select the loan purpose (credit card consolidation) & enter a loan amount that then returns a range of APR rates & monthly payment amounts based on the different term lengths they offer. The lowest APR (7.99%) is offered for the shortest term length (36 months). I was interested in a 60-month term, which showed an APR of 9.74%.

I've had a terrible experience with LightStream, including being blatantly lied to and horrible customer service. If you need a loan, try one of the legitimate companies out there, not this one. LightStream needs to work on improving both their rates as well as their customer service.

We have been customers of Lightstream for several years, my husband and I have excellent payment history, never late ( auto payment). Our current loan amount was for $25,000. We are $1,500 from paying off the loan. We are both self employed and have been for over two decades, We both have credit scores over 730, so 10 days ago we applied for a loan of $50K for kitchen updates (didn't want to take a HELOC loan due to fees, wait time, and closing cost) so lightstream requested all documentation. We proceeds to provide it including bank states, income taxes and so forth. We were then declined after we make well over $200K combined annual.

I have a tier 1 FICO score (800+) and tried to get a rate quote on a $10k personal loan from Lightstream. They want all your personal financial data before giving you a quote. I mean everything, bank deposits, how much in bonds, amount in home equity, tax records, driver license, I mean everything before they would give a quote. Pulling your FICO wasn't enough for a quote. When I refused to give them all my data before an exact rate quote, they denied my application. It's a massive data mining operation they a running. They don't care about the loan...the data is more important to them.

No fee was added.

There is a wild amount of positive reviews. Definitely fake. This company features an incredibly disturbing business model. They are seeking individuals with poor credit scores. They are hoping to 'trick' people who are fiscally irresponsible into a bad contract and a bad loan. Do not work with this company. If an auto dealer is trying to get you to work with this company, they are trying to take advantage of you. Walk away from the car with the price that is too good to be true. It is.

I co-signed a loan for my ex husband. In the divorce papers it states he is responsible for this debt. Lightstream refused to remove me as a co-signer... Skip forward 2 years, I'm still the co-signer but there has never been a late payment. Until August 22. I HAD A BABY IN AUGUST!!! And didn't check to make sure my ex had made the payment! Turns out he didn't.. I received a letter in the mail after it was 30 days past due. I paid the outstanding balance and set it up on my account for auto pay because I didn't want it to affect my credit and I would settle the debt with my ex husband outside of Lightstream. Noooo, Lightstream refuses to remove a late payment from a new mother's credit report even though there has never been a late payment before and the account is current!!! Do not use Lightstream ever!!! They are Heartless and verge on Predatory lending!!!

Absolute dog water of a lender. Their reviews on their website are fake. You aren't allowed to leave a review if you're not already approved either. I make $250k a year with less than 1p% credit utilization and a 740 FICO. I took one month off to get a medical procedure done so I did not have a pay stub last month. They also demanded a pay stub for $250,000. I spoke to a rep on the phone and told them I can give them 2 years tax returns and last 6 months paystubs and 2 years W2, minus July because I'm on a short leave. You can call my employer to verify (Fortune 500 company). I also am going to get $12k a month from short-term disability. She took the notes and sent it back to the credit team.

I just finished paying off my loan 14 months early. That's how much I HATED this company. My biggest complaint was with how long it took for them to report my current balance. My credit report was consistently updated 2 days before my payment. Therefore, my account balance was only accurate for 2 days each month. My final payment (early payoff) of $4987 was made 6 weeks ago and the bureaus finally updated my credit score 3 days ago. My score went down 9 points. How does that happen? My current score is 774. I have been told that there was a statement added to my credit report. Probably because I told them they are LAZY and WORTHLESS. There you go, I said it again. My advice, join a credit union. Most credit unions offer a variety of loan products and you will deal with someone local. Good luck.

BUYER BEWARE - I applied for a car loan yesterday evening and expected a “fast decision” based on the website's deceptive marketing. I received an email at 6:27 AM the next morning asking for me to call back to answer a couple questions. I called and received an automated message saying that your offices are closed and to call back between 10 am and 6 pm. I waited until 10 am and called again. Agent asked a couple identifying questions and reassured me I would receive an answer “today”. Received an email at 10:24 am asking me to upload documents. I did so and completed the project within an hour.

Let me start by saying I have an 800+ credit score, a long mortgage history, auto loan history, perfect payment history, and run several large businesses. I chose to use LightStream for a home improvement loan to keep more cash in my bank during this crazy time. I figured this would be a no brainer and simple process. LightStream is a nightmare. Their criteria for loans is very selective and borders on unethical or illegal. I'm not sure what they do behind the scenes, but I started at the large amount I actually needed, got denied, and worked all the way down to $5k (min amount allowed) and was still denied. The service is terrible and they have no response why they can't do it. I would highly recommend to STAY AWAY because they take a hard credit pull and this will only hurt your credit. Try a different lender 1000%.

I've used them several times in the past, always a good experience. However, not sure if it's the merger or what, but repeat customers no longer mean anything to them. Got a better deal on a loan from Discover than LightStream, despite their match it claim. Discover's customer service is far above Lightstream now. I'll never use them again. A complete turn-around from my previous review.

Applied for a home reno loan. I own two houses, but my income more than generously compensates for both houses. I also have a 0% car loan. Otherwise, no debt, even though I have well over 80K in available credit through credit cards at my disposal. My transunion credit score on my denial notice was 827. Reason for denial listed was "debt owned on existing accounts." You mean my two houses that have over 300K in home equity? Not worth the ding.

I was trying to help out a friend during these difficult COVID times because I have not been impacted financially. Despite an excellent nearly 800 credit score, Lightstream battled me every step of the way on a car loan. It threw several excuses my way, hung up on me five or six times and even tried to deny the financial statements from my bank and investments. They ultimately denied the loan with PISS poor customer service and an even worse/negligent loan department. I would avoid LightStream if possible.

I applied for a Lightstream loan and I am a current customer with an active loan with 50% paid off perfectly in a little more than one year. No late payments and always paid ahead. Credit scores are 800+ all 3 bureaus. I was declined for an unknown reason and cannot locate the reason on their site. I am not a consumer with bad credit and used to being declined for credit after having a flawless payment and credit history with any credit card or bank. Total insult...

Lightstream could not be any more user friendly and customer driven! They plant a tree for every loan! They offer lots of repayment options and allow you to change payment time and amount whenever you need to make it more convenient.

I wanted to get my loan as quickly as possible and I communicated that to my loan agent. He was prompt in his responses to my questions and was always respectful. The company was organized and had a good website for facilitating document scanning and communications. When it was time for them to make their final evaluations of my documents, I was given a date when I could expect a decision. The decision was prompt, and the funding was wired to my account exactly when I had been told to expect it. I would rate LightStream 5/5 for their commitment to their client, the competence displayed in their organization, and their reliability. They exceeded my expectations and I would not hesitate to recommend them to others.

Wow, I have FICO score is 806... with the three scores being 806, 825, 821 and I STILL DIDN'T Qualify for the lowest APR... this is absolutely ridiculous. I decline their offer and am taking my business elsewhere. Absolutely crazy. Stay away because it seems that it simply doesn't matter what your credit is. Shameful.

Looked up on Lending Tree Saturday morning. Was speaking to LightStream Sunday afternoon. The funds were in my account by Wednesday morning. They offered me a low rate with a reasonable monthly payment and were able to stretch it out for longer than most other banks we looked into. FYI - they do look at all on your credit report, even if it should be gone because it’s been 10 years and your score is high now. They are looking to make sure nothing has been paid late for 5+ years! Website was so simple to upload documents to, very simple process.