Explore your opportunities! Create an account or Sign In
The most trusted and popular consumer complaints website

Lending Club

Posted:    

Rip off

Complaint Rating:  87 % with 47 votes
87% 47
4.35
Contact information:
Lending Club
Oregon
United States
I too was taken in by Lending Clubs duplicitous tactics. Applied - recieved pre approval, then by a representitive requesting additional information, then three emails instructing me to respond by email. Then they debited my checking account, sent yet another email turning me down based on my credit score. Funny I received financing through my credit union in half the time it took just to respond to all their rediculous emails. However, this is a rather inventive way of duping the public at large. Think of the number of applications they receive, they charge you, then turn you down. Regretably I fell or their ploy and handed over my checking account information.. Needless to say my account is now closed.

Lesson learned - never do business with Lending Club and Ebay because of their association.
Complaint comments Comments (5) Complaint country United States Complaint category Business & Finances

Comments

Sort by: Date | Rating
 20th of Jan, 2014 by    0 Votes
I totally agree. I got the offer in the mail and apr started at 6.78% of course depending on your credit score. I was going to use it to consolidate my credit cards to one payment. They came back with an offer of 29.75%. That is totally ridiculous ! My interest rates are currently 1/3 of that. Why would I accept this kind of offer?? It is totally a hoax. Just another way to scam hard working people!!
 7th of Jun, 2014 by    -1 Votes
All you people whining and complaining, and falsely claiming that Lending Club is a scam need to just shut up. You didn't get your loan because you didn't qualify. Period. Doesn't mean that someone else won't take a chance on you. Doesn't mean you're a bad person. It just means you don't meet the stringent requirements of Lending Club. I applied for $30K for debt consolidation. Got through the process in two days. My money showed up in my checking account without any emails, conversations, etc. I just provided the information they asked for, they checked my credit, verified my account, and that was it. The never even asked for proof of what accounts I was going to consolidate; they just took me at my word that I would use the money as I said I would.

So please stop it with the talk of a "scam". Not every avenue is right for everyone. Doesn't mean it's a scam, just that it's not right for you.
 31st of Aug, 2014 by    0 Votes
Lending club is a scam I can get better interest rate from a credit card company than from lending club. I have a 720 credit report and they still turn me down. Lending Club wanted to charge me 16.75 interest rate while my credit card only charge 7.9. What a joke. I can borrow a loan for up to a year without paying a interest with only 3% transaction fee with the credit card company.

Lending club is really a joke and a scam.
 11th of Mar, 2016 by    +1 Votes
I applied, was approved and for way more than I was looking for. I declined the offer because my bank offered a better rate. I entertained the idea because I love Credit Karma, and it was a recommendation. After I declined the offer, they sent a denial to me stating the biggest joke I have ever heard. 3 calls to the credit bureaus and an email later I was able to remove them from my credit report. Strongly DO NOT recommend!
 23rd of Mar, 2016 by    +1 Votes
I was glad to read about some of the experiences others had, it helped me make a decision, thank you everyone, I will try some other things.
Gratefully, Michelle B.

Post your Comment

Please check text spelling before submitting a comment
Your attitude towards ComplaintAgree Neutral Disagree
Comment text
Attach photos (optional)

MyInstantOffer.com / LendingClub Corporation Logo MyInstantOffer.com / LendingClub Corporation
Customer Care Service
Contact Us
bdomains.com
     

Reply to

Send