Lending Club - Claimed pre approved.
New Reviewer
7 comments
Lending club sent me a pre approved confirmation on a loan. So I figured I would proceed.
Sent in all the appropriate paperwork requested. They pulled my credit again for no reason. Only to send me a denial. I am complaining to the three major credit bureaus and the BBB and contacting the states attorney in California.
This company is a huge scam and waste of time. They affiliate themselves with a organization called credit karma. They are both tied into the scam.
If you want a loan don't fall for this scam. Go directly to your bank which will not tell you that you are pre approved for the loan.
Monetary Loss: $2500.
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Please avoid publishing any personal information and promotional content
Just happened with me too. What a waste of time!
I got a pre-approval letter for $35,000 and they turned me down when I applied.
I wish I read this complaint before I forfeited a pull to my credit score. ***
Seems that you are upset because they checked your credit and you didn't meet the profile. Instead if blaming them (they are only protecting their investors), you should work on improving your credit score.
Too many people are quick to blame others when the fault really lies with themselves. What about personal responsibility?
What's upsetting is that they sent a PRE-APPROVAL letter! I have great credit, however I have a lot of revolving debts because I own businesses which have used my credit cards for business purposes. It's not a matter of improving credit, it's a matter of the LENDING CLUB misleading their potential clients.
lending club was the liar here not the consumer who trusted the ad
Anonymous REALLY read between the lines and use some common sense. What they are saying is if you get a pre approved mailing it implies that you already have the credit to get some type of loan otherwise what is the POINT of sending a pre approval!!!!!!
Only an ***, or someone who is completely ignorant would claim a loss of $2500 for not receiving loan proceeds of $2500. The only one who could lose money on this deal is the poor sap who would have funded your loan if the Lending Club hadn't screened you out.
What they mean by "pre-approved" is that you were pre-approveds for the offer only. It probably stated somewhere that approval is pending credit check. Being pre-approved, means that you have a postal address.