Prosper Reviews

After doing some research, read Prosper was good and reliable for loans so I went with them, somehow missed this forum until I had issues with them. Took out a 3.5k loan at 17% (not a huge loan easy to pay monthly 80$). So I put a payment of 80$ within the first week of loan opening, takes over 5 days, denied because I have 78$ in my account (ok makes sense) I try again (same thing happens) (now take it I'm already 10+ days into the month before I get notified of the second payment failure. So once again next paycheck I go to pay this time I queue it up for Thursday morning (day after I get paid). It goes thru Wed night before I get paid (denied). Now it's the 22nd (loan date). I go to pay it off again. This time it succeeds.

I never created an account with Prosper. I never applied for a loan and I never checked any rates. On June 26, 2026 someone used my stolen personal information to fraudulently apply for a loan with them (Reference: **). When I contacted Prosper to report identity theft and demand they delete the fraudulent application, they completely ignored me and started sending me irrelevant responses about “opt-out requests” and privacy laws. This company suffered a massive data breach in 2025, yet they still can’t properly handle fraud when it happens. Their customer service is useless and they clearly do not care about protecting their customers’ information. Prosper is a serious risk for identity theft. Stay away from this company.

I just want to warn anyone trying or applying for a credit card with this company, don't they will take your available credit, and decrease it without warning. ⚠️ This is wrong on every level regardless of what your credit is, what is the point of having a credit card if you can't use the available funds given to you, shame on them, absolutely wrong, what if you had an emergency and went to use your card and your available funds were gone, not to mention never missed a payment.

Hideous experience - applied and approved as the primary applicant, and then would not do anything without speaking to my husband. He told them, speak with my wife. She’s manages this process and earns as much as I do. They updated my application to his email, I can’t log in, and who says the patriarchy is dead! If I could give them negative stars I would.

Worst customer service ever!!! Thanks for wasting my time...

Bad customer service. Argue with air. Don't listen. Put words in your mouth. Do something which ask not to do. Biggest issue lying. Point is why lie. Cost less when tell the truth. Cost way more to lie. Honesty is like honey.

If I can give them no stars I would. Beware. I started out with a $3000 credit limit. They kept decreasing it until it was 500 and then eventually canceling it. With the credit score of 740 I was told I had too many inquiries.

BEWARE!!! This organization starts off as if it’s exactly as it appears. This is NOT TRUE! It gives you a limit that is understandable depending on your credit rating. Then, as your score gets higher and usage is kept under 10% (to help your score continue to increase), Prosper will arbitrarily lower your limit (mine was lowered to 1/3 of the original limit when I had less than 10% usage), which in turn increases your credit utilization and negatively impacts your credit score. This organization is a FRAUD!

Just awful. I had two fraudulent changes in the same day and Proper refused to take one the charges off. They charges were done at the same time for the same item. I never received the item that I supposedly paid for and tried to report it the day it happened but was denied because the charge was still pending. I have been given nothing but aggravation from this company.

If I could give them a zero I would. Complete rip offs. Do not do business with them. I have always gotten electronic statements but they want to charge every month for a paper statement 1.99. This is just one thing. Their annual fee put me over my credit limit. Now payment went from 43 to 162. When called they said payment plus 59 over limit because of annual fee. I said if you add payment of 43 plus 59 equals 102 but then they wanted another months payment 43 plus 1 percent of my balance. I told them I would make my normal payment plus 59 over the limit but not the extra 43 plus 1 percent.

WARNING! I want to caution anyone considering a loan through Prosper Loans: from my experience, and what I found in other borrower complaints, the reality falls far short of the marketing promise. I hope this review will help others considering using this company.

Hello my name is Greg ** and I am a sad customer of Prosper. I was taking advantage of by this company. I would never ever deal with them ever again and if I was you I would stay far away from them and thier false promises that sounds good but really isn't. They will hit you with hidden fees and extra charges and add New rules to the contract out of the blue and Tell to accept it or else and find reason to get extra charges out of you

Prosper loans are a scam. They took $1000 out of my account, and I never received any funds. I would not recommend using this loan service to anyone. They stopped all ways for me to communicate with them as soon as they took the money. BE AWARE!!!

The company closes your account without your consent then lies and says you said to. The company then refuses to let you make digital payments and when you make paper payments via the mail they will lose them then make it as you never paid. The company doesn’t work with its customers. They literally ignored my plea for help when a family member passed.

The worst company ever. They have you apply and before you submit the documentation they run your credit impacting your score and then declining your application due to having the wrong documentation. So they do not give you the opportunity to provide the documentation and verifying the information before they run your credit. Not even credit cards do that.

I'm so disappointed with Prosper Loan. I was taken through so much pre-loan steps that didn't benefit me at all. After so many attempts at securing a loan, it ended up that my bank has charged me $457 for a returned check deposited by Prosper signed in my name to my bank account by Prosper then withdrew by Prosper. My online account has now been frozen for six months. I'm on a fixed income and this will hurt me as far as being able to pay my monthly bills. I reached out to Prosper and was told by one of their managers that it was my fault because I wouldn't go get another card and have it forwarded to them?

This company is a waste of time and why I say that because I have applied many times and still get turned down for a loan or credit card. This company is not there to help you at all. Waste of my time. Keep on sending marketing email.

Stay far, far away and trust these reviews because I sure wish I did. Charged me over $7000 on a $12000 loan. Complete scam and they had the nerve to take out $500 of the $12000 loan. 14% my **. They'll e sign documents for you and put the money in your account and next thing you know you're stuck paying a large monthly payment. Luckily I only have 6k left on this crazy loan. Stay AWAY trust me

Got a loan though Prosper. It took a few days, but the only thing is that their interest rate is high and if I could do it all over I would right now. I cannot change what has been done right now. Next time I will do more research.

Prosper was great up until a few months ago. I renewed my military SCRA on my account to lower my interest rate. Submitted the documents requested and now Prosper is saying they are having system issues with lowering my interest rate and are charging me the higher rate completely disregarding the military SCRA law. I have reached out to them several times about the status of my request and they continue to say they are having issues and continue to take my payment at the higher interest rate! I will not be using them again!!!!

I applied a for a 3000 dollar loan thru them and was told I was approved. They then told me to verify my bank account and they would send “ verification money” to make sure my account was good and active. Come to find out they went in my account and disputed several payments to Verizon from months past and my phone was cut off and I had to borrow money from my dad to pay back. I had to also switch banks since I was $1500 negative. No response whatsoever from these people since. I am trying to figure out how to sue these people.

Prosper has the most incompetent employees I have ever dealt with. They can't schedule auto pay nor take your bank info to run a payment without making a mistake. When you ask for a manager they make you wait for over an hour then say they are busy. As soon as I pay them off the card gets canceled. Be careful with them.

They are predatory lenders, the interest they charge should be illegal. They will not give you a statement that shows your balance. DO NOT USE THEM!!! SCAMMERS at best! I should have done my research before using them. Do not let Credit Karma sway you with these loans.

Prosper is not a lender, it's a marketplace broker that shops your application around for private investors to grant you a loan. Website advertises up to 2 business days time to receive funding after approval. It's been 3 business days and Prosper representatives says it take up to 5 business days to be fully approved and up to 14 business days after that to actually receive the funds. No guarantee as they again, ARE NOT A LENDER.

Prosper is a very disgusting and shady lender!! They lied about the interest rate and they processed a loan I did not give them permission! I was only looking around. I made ALL my payments on time and even paid the loan early. They dinged my credit score 1st lying and said since they sent me an offer it wouldn’t be a hard inquiry and it was! Then they refused to help when you call because no one speaks English and hang up on you! They reported my loan as “closed” instead of paid off and it dinged my credit score -13 points because they wouldn’t fix it, very poor customer service and bad business!

This place is beautiful, exceptionally professional, and does great services. I am looking forward to receiving all services that they provide at this place of business. When I went to consult the consultation representative was super nice and sweet and thoroughly went over all the details for me. I’m very appreciative for the help and I looking forward to work with them regarding all of my body goes. I am exceptionally happy I found them.!!

I currently have a loan with Prosper and have had 4 others in the past. The same bank account was used on all loans. I applied for a second loan and was made to do a bank verification over the phone which took well over an hour to complete. During the call, Prosper reached out to my bank and did a 3 way call to verify bank details. After completing the bank verification, the representative from Prosper started to provide my full social security number to the bank representative when I had to stop her. This is completely inappropriate to provide that number to a stranger without my consent and even the bank representative was shocked.

Like others on here, I was preapproved, mine was $8,000. My Credit Score WAS 815. For reasons known only to scammers like Prosper, they hard-pulled my credit THREE TIMES. No, they were not given permission. Said I was approved, "Just sign these loan docs, here's your rate, amount financed, oh wait, it MUST be paid from your personal bank account, so you have to supply us with that. Don't worry, we'll deposit the funds in that account." Sounds legit. Input my personal banking. I've got everyone on here beat! Not 2 minutes, but 5 seconds later! Email came thru, they couldn't verify who I was or where I work or some other made-up **. On a Sunday. I worked as a Fraud Analyst for MC, Visa, Discover - there is absolutely NO WAY for the system to verify, all by itself, anything about you, such as your employer or income, in 5 seconds! Not even 5 minutes.

After spending over three hours going through technical glitches in the application process for a personal loan which I was preapproved for, I just got denied! I know I stated in in the preapproval process I had fair credit and I think I got denied because my score was below 640. Lucky I don't need their money but beware!!! You may not have a good chance even you're preapproved. I don't need their 35% APR so Prosper did me a favor actually. Strange with a good income and no late payments in 4 years or so. Just save money instead of trying to get a loan from sharks. Lesson learned.

Do not apply: very hard to understand the loan officer or customer service on the phone, they ask for all of these docs, and request for more docs & after denial, you're told to re-apply & upon trying to do so, they ask for more information than before. APR is so high & I'm glad I dodged this bullet of death. No one speaks good understanding English. Not worth it.

9/1/2022 Absolutely horrible. I sat and applied for the loan. Put my SS # and my bank info. I clicked submit. In less than 2 minutes I get an email saying my account was suspended and unable to obtain a loan. The reason was unable to verify my identity and employment.... How did this company even try to verify anything in under two minutes. My credit score is 720. AVOID THIS COMPANY. DO YOURSELF A FAVOR.

I was pre-approved for a loan. I filled out the paperwork and had the loan offer. I took two days to shop around for a lower rate. Upon returning to prosper I completed and signed my loan agreement. They ran my credit for a SECOND time and then denied me based on one issue: Too many credit inquiries in the recent year from similar companies. They were the ones who fill out my credit inquiry list. Web bank times 4 during the time I shopped for credit. This company needs to be avoided as they ruined my chance at receiving a personal loan from almost any company with all their extra inquires.

I made a 0.8% return on my investment over a 3 year period when I first tried investing with Prosper. Many of the loans were sent to collections and I did not receive my investment back. I chose to mostly invest with lendees with at least a "B" rating, but even some of the "A" rated lendees did not pay and went to collections. I do not know how Prosper is investigating the lendees, but it does not reflect how likely they are to pay. The lender interface to view the investments is also misleading and make your investment return look better than it is. At the end of the 3-year period, the interface stated I made 3% on my money (still a horrible rate over 3 years), but when I did the calculation manually, I had only made .8%. You are much better off with traditional investments than trying to profit off of the debt of your fellow citizens.

Please let this sink in. You need financial assistance and you take your chance with Prosper. You apply, and after a hard pull on your credit, Prosper tells you, "approved". You allow them access to your bank account and then provide a copy of your driver's license electronically, per their request. You wait. Two days later your loan is cancelled and you receive an email saying, "We could not verify identity". It is a scam to get your information. They know everything about you now. And, the sad thing is, they get away with it. Read the negative reviews. They are real.

DO NOT APPLY! I applied for a personal loan and agreed to ONE hard credit pull and now I am getting alerts that my credit has dropped 15-20 points due to multiple hard credit pulls from Prosper. Additionally, the company definitely should be investigated for falsely advertising. They sent me an email saying I was "approved" for a loan. NOT "pre-approved" or "pre-qualified", "APPROVED". Then, after submitting all my documents and information needed for a hard pull, I find out I wasn't actually approved yet and that everything I submitted was not meant to verify my information, but instead meant to be used for a loan approval process. NOT OKAY!

A short 3-year $8,000 loan is costing me total $19,226. Contract didn't list that!? Scam. Confusing victimizing contract. Loan shark. Victimizes low income people. Contacted Attorney General. Now spending $1,000+ on a lawyer. VERY ANGRY!!!

I was pre-approved for a loan by Prosper - and immediately sent in all of the documents they requested - including bank account information, proof of income, and a copy of my driver's license. I had to email them because the Prosper website wouldn't upload my documents. I called customer service about the problem, and spoke with an agent who was completely clueless about what to do.

Prosper Loan told me they were going to help me. They directed me to get an EBAY gift card for $200. I then called them with gift card code. When I got home I got a call saying they didn’t get the money, so I called EBay and they said the card had been redeemed. I confronted them and they denied everything. I lost $200 and didn’t get my loan.

Easy application process. I used this service for my daughter's student loan. There have been no issues through the duration of the loan.

Prosper is a newer type of loan company called a peer-to-peer lender. Loans are funded by individual investors, as opposed to banks or other credit companies. Prosper itself does not actually fund any part of the loan. I found it to be a very simple process of filling out a very short form on a website, including how much money I wanted to borrow and how many months/years I wanted to pay it back. Once you submit the form, it somehow looks at your credit "picture" without actually pulling a credit report, and therefore not leaving an inquiry on your credit report. Once you accept the loan and the loan terms, Prosper does pull an actual credit report that will show as an inquiry. If all looks good the loan is put out to the investors and the investors decide whether or not they want to invest enough to fund your loan.