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Didn't really need the loan so much as wanteds to consolidate a loan with higher interest and a car loan into one payment. Large income and NEVER out of work in 40 years.

Pre- approval letter came. I guess I was pre approved for refusal. Never late on two small loans but had credit issues 6 years ago. Did they check ANYTHING when they PRE APPROVED me.

Good thing i wasn't desperate hey? Waste of my time and good mood. Apparently,even though they solicited my business and told me I was pre approved that was hog wash. You are welcome to send me an offer telling me GOOD LUCK WE MIGHT GIVE YOU SOME MONEY BUT PROBABLY NOT offer.

Looks to me like they could save money if they actually gave loans to preapproved people. Oh wait, that's just a scam isn't it?

Product or Service Mentioned: Lending Club Loan.

Reason of review: Not as described.

Preferred solution: stop sending false offers of preapproval when there is NO SUCH OFFER.

Company wrote 0 public responses to the review from Nov 01, 2014.
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BOGUS. Scam Company just want your personal information. Don't be fooled by your pre-approved leter, just some *** scam.

to william #1549231

Pre-approved means they got your name from the credit bureaus based on a set of criteria. It could be anything.

It could people with 720 score and a high debt to income ratio for example. They only get names that meet what they're looking for. That's it, nothing else. They don't know how @#$# up credit really is until you give them your SS# and they pull your file.

After that happens, you're getting rejected as you probably knew you would. Read the print on the ads, they tell you all you need to know to make a decision whether you should try out or not.


Same thing happened to me. Why send a pre approval for a refusal?


Received message that I was approved for a loan with Lending Club. Applied and was denied and then turned over to one of their affiliates.

I was approved with them but they started asking for banking info, password, etc.

and I declined. They told me this is how it works if you receive an approval letter but are turned down you are referred to one of their affiliates.

to ppalma #1475735

They shouldn't have asked for a password. Typically, they would need your bank info if you requested to have the money electronically deposited.

Oceanside, California, United States #1324209

Actually the same thing just happened with me good credit never any late but wanted to consolidate pay all off and have one loan We got a loan amount and a payment I could work with that would actually save me $400 per month and right at the last moment I received that phone call too many obligations Wow that's what I wanted money for Hog wash !!!

to Anonymous #1380756

Exactly. Nothing but a number

Hialeah, Florida, United States #1009103

how do i know where to place pre-approval code to start process for loan from lending club


Dear Lending Club,

I read your reply. Interesting since in the last few months, my debt has gone down, credit score up.

Tried your so called pre-approval and turned down. Reason: low credit score. SAY WHAT! 793 is low?

Well don't need you. Told my dad about the problem, he was set to invest but decided on TESLA instead.

He bought TESLA at $30.00 a share at 75 shares...now worth $230.00 a share. So we don't need you and you don't need us...hahahaha.

to neenerneenerneener #1588672

clearly lies


Same here, so went to Prosper and they gave me my loan. All I wanted was to consolidate and pay off a few credit cards I selfishly used to help my disable grand daughter's parents out during the great recession.

Paid off those with the Prosper loan closed all but one (which I have not used since) and shredded. Using tax refund to pay down the loan.

HELLO COMPANIES don't send out fake pre-approvals. My credit is o.k. and getting better.

I am only a few years out from paying off my house and refuse to take out a home equity loan.

So that's why I took the bait from lending club.

In 5 years i will be mortgage, car payment and Prosper loan and completely debt free if not sooner, so please tell me again why I couldn't qualify for Lending Club?

Ann Arbor, Michigan, United States #925976

Obviously you have no clue what pre-approved means and did not read it through. You might have been approved based on where you were originally,b ut things look like they changed. I always like the guys who says, I am NEVER late, then in the next sentence says you had credit issues 6 years ago

Dallas, Texas, United States #902246

Its not a scam if they didn't give you money so you owe them interest. Must have been something else.


Same experience for me. It is a scam to collect personal information including SSN, tax records with spouses information included and bank account numbers.


Thank you for your feedback. We understand you were disappointed by your experience.

We use information provided by credit bureaus, including credit score, outstanding debt, payment history, and recent credit activity, to identify potential borrowers, and send pre-approved loan offers based on those criteria.

At time of application, we ask for other important information, such as income and employment status.

Because several weeks pass between the pre-screening process and the application, we also request updated information from the credit bureaus.

Both sets of information are used to determine if an applicant qualifies for a loan offer. Common reasons for being declined for a loan after receiving a pre-approved offer are that an applicant’s current outstanding debt is too high relative to their income or that changes have occurred in their credit report since pre-screening.

Please note that the pre-screening process and loan application do not affect credit scores, because neither action is reported to credit bureaus as a hard credit inquiry.

If you have further questions, please contact us at 888-596-3157 between 6:00am–5:00pm PST, Monday – Saturday.

to LendingClub1 Palm Coast, Florida, United States #1263638



to LendingClub1 #1380759

People who apply for loans are in need. You send preapprovals,,,,all through the app you say"money is on its way".

Then you deny. People who are in need are already down and your approach could push some over the edge.

All this happened to me. I had a heart attack due to stress.

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