Debt Consolidation
LendingClub
3.9
About LendingClub
LendingClub is an online lender offering personal loans, including one specifically for debt consolidation, to borrowers with credit scores of 600 and above.
LendingClub loans have limited term lengths, you can choose from two options: 36 months or 50 months but they do allow for a co-borrower to help you qualify for a lower rate.
Overview
- Loan Amount
- $1,000 to $40,000
- Interest Rate
- 7.04-35.89%
- Loan terms
- 36 or 60 months
- Years in Business
- Since 2006
- BBB Rating
- A+
Editorial Rating
3.9
Good
Good
“LendingClub offers personal and debt consolidation loans, for borrowers with fair credit scores above 600.”
Benefits and Features
Minimum credit score: 600
Loans funded in one week
Payment date flexibility
Loans funded in one week
Payment date flexibility
Get a lower rate with a co-borrower
Available in all 50 states
Online application and approval
Available in all 50 states
Online application and approval
Pros
- Offers joint loan options
- Offers direct payment to creditors with debt consolidation loans.
- Soft credit check with pre-qualification
- Offers direct payment to creditors for consolidation loans
- Allows borrowers to choose and change payment dates
Cons
- No mobile app
- Minimum Credit Score: 600
- Only two repayment term options
- Charges an origination fee
- No rate discount for autopayments
