Who can apply?
LendingClub does not publish a minimum score, but its underwriting favors established credit histories. The basic conditions:
✔️ Be at least 18 years old and a U.S. citizen, permanent resident or long-term visa holder
✔️ Have a Social Security Number and a verifiable U.S. bank account
✔️ Have a credit history of at least a few years with no recent serious delinquencies
✔️ Show income and a debt-to-income ratio that leave room for the new payment
✔️ For joint applications: the co-borrower must meet the same identity and income checks
What are the rates and fees?
Each offer combines a rate, a term and a fee. The boundaries published by LendingClub at the time of our review:
✔️ APR: from about 8.98% to 35.99%, fixed
✔️ Origination fee: 3% to 8% of the loan amount, deducted before disbursement
✔️ Late fee: 5% of the past-due amount or $15, whichever is greater
✔️ Returned payment fee: $15
✔️ Prepayment penalty: none
Because the fee is included in the APR, two offers with the same interest rate can have different APRs; always compare the APR.
What documents and information do you need?
✔️ Name, date of birth, address and Social Security Number
✔️ Employment details and gross annual income
✔️ Bank account information for verification and funding
✔️ Recent pay stubs, W-2, tax returns or bank statements if income verification is requested
✔️ For balance transfers: account numbers and amounts of the cards you want paid off
A piece of advice for you!
Apply jointly only if it improves the offer. Run the rate check alone first, then with a co-borrower, and compare; remember that a joint loan is a shared legal obligation for both people.
If you choose the balance transfer option, list every card you intend to pay off and check the payoff amounts on the day you apply; interest accrues daily and a small remainder left on a card is easy to forget.
Pick the shortest term whose payment you can sustain with margin. Every extra year at 20% APR adds thousands of dollars to a mid-size loan.
Keep the paid-off cards open but unused. Closing them lowers your available credit and can raise your utilization ratio, which works against the score improvement you are aiming for.
Check your rate now on LendingClub’s official website!
On the official page, enter the amount and purpose, complete the short profile, review your offers and accept one. After identity and income verification, the funds are sent to your bank account or directly to your creditors. Tap the button to begin.
