What credit score does Lending Club require?


Loan amount $1,000 – $40,000
APR 7.04% – 35.89%
Minimum credit score 600
Time to receive funds As soon as 4 days

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Herein, can you get a personal loan with a credit score of 550?

Yes, you can get a personal loan with a credit score of 550. You could consider getting a secured personal loan, applying for an unsecured personal loan with a co-signer, borrowing from family and friends, and checking with local credit unions which usually have a lower requirement over credit score.

Besides, does Lending Club run a hard inquiry? When you check your rate through LendingClub, we use a soft inquiry. We’ll only do a hard pull of your credit (which could affect your credit score) once your loan is approved. … Being declined doesn’t hurt your credit.

Consequently, does Lending Club use Experian?

Find out if you are matched to a LendingClub offer on Experian CreditMatchTM. If you’re considering a personal loan, especially if you have good or excellent credit, check your credit score and take time to research lenders based on where you stand.

Does Lending Club use soft pull?

Checking your rate with LendingClub Bank has absolutely no impact to your credit score because we use a soft credit pull. A hard credit pull that could impact your score will only occur if you continue with your loan and your money is sent.

Does LendingClub hurt your credit?

No, checking your rate and applying for a loan with LendingClub Bank won’t affect your credit score. It generates a soft credit inquiry to provide insight into your creditworthiness.

Does LendingPoint report to credit bureaus?

LendingPoint personal loans are a fast-funding option for bad-credit borrowers, but the lender doesn’t report payments to all three credit bureaus.

How long does it take for LendingClub to pay creditors?

The funds are sent as a direct deposit to the borrower’s bank account, and some banks may not process the transaction as quickly as others. But the whole process, from application to receiving the funds, generally takes 7 business days or fewer (sometimes as few as 4 calendar days).

Is Lending Tree and LendingClub the same?

How they’re different. The main difference is that LendingClub is a peer-to-peer lender, while LendingTree is an online lending marketplace. This means that LendingClub relies on investors to fund your loan while LendingTree can help you prequalify for multiple lenders with one application.

What credit bureau does LendingTree use?


Company Credit bureau and model Update frequency
LendingTree TransUnion VantageScore 3.0 Monthly
American Express MyCredit Guide (no requirement to be an Amex cardholder) TransUnion VantageScore 3.0 Weekly
Chase Credit Journey (no requirement to be a Chase cardholder) VantageScore 3.0 Weekly

What credit score do I need for a $4000 loan?

580 or higher

What does a credit score of 725 mean?

A FICO® Score of 725 falls within a span of scores, from 670 to 739, that are categorized as Good. … 21% of U.S. consumers’ FICO® Scores are in the Good range. Approximately 9% of consumers with Good FICO® Scores are likely to become seriously delinquent in the future.

What is LendingTree minimum credit score?


FICO credit bands
Exceptional 800+
Good 670-739
Fair 580-669
Poor >580

What’s the difference between a hard credit check and a soft credit check?

A soft inquiry pulls enough of your credit history to determine your creditworthiness; a hard inquiry is a formal review of your credit report. When lenders or creditors want to check your credit history before issuing you a loan or credit card, they perform a credit inquiry, also known as a credit check.

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