Lending Club Don't waste your time - or money! Internet

Lending Club solicited me.  When I responded, they did what they needed to do to get all my info, then I never heard from them.  When I followed up, they informed me that my loan was declined.  This was largely because they mis-calculated my income from my tax return.

I explained pertinent information over the phone, asking if I should bother to "apply".  They said yes & I took the time to get all the info together for them. They did not get back with me to request further documentation as they suggested they would.  They simply declined the loan based on mis-calculated and incomplete information.

I also found out that in addition to their unbelievably high interest rates, they were going to charge a $1,000 fee off the top of the loan.  I don't know of a single credit card that charges as high an interest rate as these folks do - and they claim to have low rates.  If you're planning on consolidating credit card debt, Lending Club will actually increase your rate, not decrease it.

Between their insanely high rates & fees, and their distasteful and deceptive methods, I would consider them more in the category of the sleazy loan shark than a respectable lender.  Enter at your own risk.