Lending Club Reviews on Reddit
Reddit discussion boards have lots of good information, but good luck narrowing it down. Luckily, this page shows you some of the latest and/or best discussions on Reddit that offer experiences and reviews of Lending Club. (See also our review of Lending Club.)
- This 2018 discussion thread titled “Is Lending Club Trustworthy?” offers opinions and reviews on Lending Club, including comments from borrowers calling it “great”, “fine” , “easy”, “legit”, but also warning about the origination fee and suggesting you shouldn’t assume Lending Club’s interest rate is better than other personal loan lenders — shop around to be sure you’re getting the best deal.
- This 2018 discussion thread titled “Lending Club Reviews?” looks at Lending Club from the investor side and it definitely offers mixed reviews, with some people saying their returns have gone down over time and others saying you can get a good return if you do your homework on the individuals you are lending to.
- This 2018 discussion thread titled “I just consolidated with Lending Club” relates a positive experience from the borrower’s side, with the person posting saying that they had consolidated high-interest debt into a Lending Club loan at 10%. Several other people also say they were happy with Lending Club as borrowers.
- This 2017 Reddit discussion thread titled “Lending Club Experience” looks at Lending Club from the investor side, with opinions and reviews including multiple investors who say they are “lukewarm” on the platform and that their returns have gotten lower over time. At least one person, though, thinks that some investors have unrealistic expectations about their returns and are then disappointed when they earn less than expected.
- This 2017 Reddit discussion thread titled “Should I invest in Lending Club?” has several comments from Lending Club investors with the general theme that the loans are not liquid and thus difficult to get out of quickly without losing money, so an economic downturn could really hurt investors. Most say they are slowly withdrawing money or keeping what they’ve already invested in their LC accounts, but won’t be putting in more funds to invest.