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LendingPoint personal loans review

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Fair credit accepted — but only for loans up to $25,000.’s rating: 3.48 / 5.0


  • Best for borrowers who don't have the best credit.
  • Pick something else if you need to borrow more than $25,000.


Max. Loan Amount

9.99% to 35.99%



Min. Credit Score


Product NameLendingPoint Personal Loans
Min. Loan Amount$2,000
Max. Loan Amount$25,000
APR9.99% to 35.99%
Interest Rate TypeFixed
Min. Credit Score600
Minimum Loan Term2 years
Maximum Loan Term4 years
Turnaround TimeNext business day after approval and document verification
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Expert review

Aliyyah Camp

Review by

Aliyyah Camp is a writer and personal finance blogger who helps readers compare personal, student, car and business loans. Aliyyah earned a BA in communication from the University of Pennsylvania and is based in New York, where she enjoys movies and running outdoors.

Expert review

LendingPoint is ideal for fair-credit borrowers who are looking to take out a small personal loan. You only need to have a minimum credit score of 600 to qualify, and it’s possible to get your funds as soon as the next business day after approval. It also allows you to sign up for bimonthly repayments to help you better manage your budget each month.

But you’ll need to be at your current job for at least a year to qualify. And you may be on the hook for an origination fee of up to 6%. Plus, loan amounts are capped at $25,000, and you could see rates as high as 35.99% — though this isn’t uncommon with a lender that has such lenient credit requirements.

Not sure LendingPoint is right for you? Compare your other options below.

First, am I eligible?

  • Credit score of 600 or higher
  • Annual income of $20,000 or higher
  • At least one year of consistent employment
  • No bankruptcies, charge-offs or liens in the past 12 months
  • Resident of an eligible state

Where is LendingPoint available?

LendingPoint provides loans to residents of all states except:

  • Colorado
  • Connecticut
  • Maine
  • Maryland
  • Massachusetts
  • Nevada
  • New York
  • Vermont
  • West Virginia
  • Wisconsin
  • Wyoming


  • 100% online process
  • Fair credit scores of 600+ accepted
  • Option to make bimonthly repayments to help you budget
  • Reports payments to Experian and TransUnion


  • High origination fees of 0% to 6%
  • Loans capped at $25,000
  • Potentially high rates
  • Loan due date could change every month
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Compare other personal loan providers

Updated March 30th, 2020
Name Product Filter Values APR Min. Credit Score Max. Loan Amount
Credible Personal Loans
3.99% to 35.99%
Fair to excellent credit
Get personalized rates in minutes and then choose an offer from a selection of top online lenders.
Fiona Personal Loans
4.99% to 35.99%
Good to excellent credit
Get loan offers from multiple lenders at once without affecting your credit score.
Monevo Personal Loans
3.49% to 35.99%
Quickly compare multiple online lenders with competitive rates depending on your credit.
Even Financial Personal Loans
4.99% to 35.99%
Get connected to competitive loan offers instantly from top online consumer lenders.
Upgrade Personal Loans
6.98% to 35.89%
Affordable loans with two simple repayment terms and no prepayment penalties.
PenFed Credit Union Personal Loans
6.49% to 17.99%
With over 80 years of lending experience, this credit union offers personal loans for a variety of expenses.
SoFi Personal Loans
5.99% to 18.64%
A highly-rated lender with competitive rates, high loan amounts and no fees.

Compare up to 4 providers

What do customers say about LendingPoint?

BBB accreditedYes
BBB ratingA+
BBB customer reviews2 out of 5 stars, based on 12 customer reviews
Trustpilot score4.9 out of 5 stars, based on 2 customer reviews
Customer reviews verified as of12 December 2019

LendingPoint recieves relatively positive reviews on TrustPilot, with many borrowers mentioning helpful customer service representatives by name. However, borrowers have left complaints on the BBB website about LendingPoint’s high costs and some negative remarks about customer service.

Is it safe to borrow from LendingPoint?

Yes. LendingPoint uses SSL encryption to protect any data you enter on its site. And while many share your information with third parties for marketing purposes, LendingPoint only using your information for internal marketing purposes. You can read a full description of the information it collects and shares on its privacy policy.

Scam alert: Lendingpoint USA

Some people have tried to apply for a loan with a company called Lendingpoint USA, assuming it was a division of LendingPoint. It isn’t. Lendingpoint USA has been accused of engaging in several shady practices, including asking people to purchase gift cards from stores in order to get a loan — an enormous red flag. Stay away from this lender.

How do I apply?

LendingPoint’s application process is completely online and should only take a few minutes to fill out.

What information do I need to apply?

You’ll likely need to have the following documents and information ready when you apply:

  • Government-issued ID
  • Social Security number
  • Bank account information
  • Recent bank statements
  • Voided check or direct deposit form
  • Recent pay stubs, W-2 forms, tax returns or other proof of employment
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What happens after I apply?

LendingPoint will process your application electronically. Depending on when you apply, you may receive an approval decision on the same day. You may be required to submit additional information. Once you receive and sign your loan documents, LendingPoint will disburse your funds to your bank account.

How do repayments work with LendingPoint?

Once you’ve received your LendingPoint loan, keep on top of your payments to avoid paying fees that could quickly add up.

  • Set up automatic payments. Determine a due date that works best with your monthly budget and cash flow.
  • Make extra payments as you can. If your budget allows, pay more toward your repayment without a prepayment penalty.

You can choose between traditional monthly repayments or making payments twice a month. You can also make additional repayments at any time without paying a penalty fee. Payment options include autopay, debit cards, online transfers or certified funds via a check or money order.

But because most of LendingPoint’s loans are written with a 28-day payment schedule, your loan’s due date will likely change every month. This could make keeping track of your payments difficult. If you don’t make a repayment on time, LendingPoint may charge a late fee of $30. To avoid this, keep track of your due dates and reach out to LendingPoint if you think you may not be able to make a repayment on time.

See how LendingPoint stacks up to the competition with our guide to personal loans. Or check out these other lenders similar to LendingPoint that may be able to offer a better deal.

Frequently asked questions

Personal loan ratings

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Read the full methodology of how we rate personal loan providers.

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