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I just applied for a $4,000 loan and was denied based on my credit score of 650. I have nothing derogatory on my credit report for last 3 years.

3 years ago I was late on a payment. I have one collection account from over 6 years ago. Everything on my report recently has been on time and I've paid off several car loans in past 10 years. It was a waste of time to apply here...

If they weren't going to accept my application due to my credit score why didn't they decline me from the beginning when I stated what range I fell in...Now their inquiry affects my credit score and had I known of their strict criteria I wouldn't have applied or bothered...

Review about: Lending Club Loan.

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Albany, New York, United States #655198

There are many other criteria ( debt and income, various ratios; length of employment, etc) and maybe no one wanted to fund the loan.

I agree that pre-approved is not pre-approved...as in all other financial market ever! you get pre-approved to apply, that's about it, then the more documented and detailed criteria come into play.

650 is a very low score to get an LC loan. Better luck next time.

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