28.7K views 6 comments

I applied for a personal loan to pay off 2 credit cards, I was approved, I submitted all requested paperwork.While they reviewed my yearly earnings they made the mistake on confirming my income and said I lied on my application.

Related: Review about Lending Club Loan from Mountain View, California

I proved them wrong, they told me they where sorry and would make good for there mistake. I resubmitted the application per their request . They denied my loan. After three weeks of getting the run around I gave up.

They made my credit drop 40 points during this 3 week fiasco.And that was the reason they claimed they couldn't approve my loan which was already approved 3 weeks prior.

Review #384060 is a subjective opinion of a user.

PRODUCT OR SERVICE Lending Club Loan
Reason of Review / Monetary Loss Not specified / $10000
Preferred solution Not specified

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Clayt
Casper, Wyoming, United States #766017

About the only way I can imagine that your credit score could drop 40 points is if you didn't make the payments on your credit cards and they both reported you as delinquent. Late payments can quickly slaughter your credit.

Bizmanager
Phoenix, Arizona, United States #670255

I think the people making comments on this are correct, but their points are totally irrelevant.It's not about the technicality of the issue, it's about the customer service the complainer received which IMO was poor.

A credible company would go through much larger lengths to correct any errors it makes.The complainer's loan was approved before their mistake and should have bent their own rules if they needed to so they could "take care of their customer." Now they lost at least two potential paying customers because I will probably steer away from companies like this.

lol
Branson, Missouri, United States #658609

there is no way your credit score drops 40 points for a inquiry, an inquiry in your credit would be about 5 points.

Betteryeti
Los Angeles, California, United States #650189

Please provide documentation of your 40 point credit score drop caused by LC. Doesn't sound plausible.

curious george
Minneapolis, Minnesota, United States #610263

Did you by chance kept recording of your conversation over the phone between you and the Lending Club?

curious george
Minneapolis, Minnesota, United States #610256

Where did you obtain your credit score and history from?

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