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5 alternatives to LendingPoint personal loans

Compare other providers that work with fair-credit borrowers.

LendingPoint is an online lender that specializes in financing fair credit borrowers. It’s one of a few lenders that accepts credit scores as low as 620 and it allows you to opt for a biweekly pay schedule if that better fits your paycheck. And like many providers, you can apply with a joint applicant.

But payments are due every 28 days, rather than once a month. And it only offers loans from $2,000 to $36,500 with higher-than-average rates from 7.99% to 35.99% APR — including an origination fee of up to 8%. For some borrowers, these alternatives might offer a more favorable deal than you’d find at LendingPoint.

What’s changed in 2022?

We removed the peer-to-peer lending platform Peerform from our list of alternatives — it’s no longer accepting applications as of July 2022. We replaced that slot with another peer-to-peer lending site, LendingClub. It has a low credit score requirement of 620, accepts coapplicants and is available in all 50 states.

Our top 5 sites like LendingPoint

These online providers accept fair credit scores and may offer a wide range of loan amounts or lower rates and fees than LendingPoint.

Alternative for lower rates with fair credit

Upstart personal loans

4.15 / 5

Upstart specializes in funding borrowers who are just building their credit. It accepts credit scores as low as 300. But beyond that, it considers education and career during the underwriting process and accepts fair credit to help you qualify for lower rates than you might elsewhere. Its rates range from 6.5% to 35.99%, which are slightly lower than LendingPoint's. But its origination fees can run as high as 8% — higher than LendingPoint.

  • Not available in: West Virginia
  • Accepts fair credit
  • Career and education can get you lower rates
  • Starting APR of 6.5%
  • Potentially high origination fee
  • Considers individual instead of household income
  • Longer turnaround for education-related expenses
Loan amount$1,000 to $50,000
APR6.5% to 35.99%
Interest Rate TypeFixed
Minimum credit score300
Turnaround Time1 to 3 business days
Maximum Loan Term5 years
Minimum Loan Term3 years

Alternative for flexible payments

Upgrade personal loans

4 / 5

Instead of emphasizing your credit score, this online lender focuses on your monthly cash flow when you apply — or income after bills and debt payments. This makes it a good option for people who have a negative mark on their credit report but otherwise healthy personal finances. It's also more flexible than LendingPoint, allowing you to change your payment due date, defer two payments or even make partial payments. But its minimum credit score of 620 is slightly higher than LendingPoint's. And its origination fees run high, from 1.85% to 8.99%.

  • Not available in: Colorado, Iowa, Maryland, Vermont, West Virginia
  • Payment flexibility
  • Accepts fair credit scores of 620
  • Focus on cash flow instead of credit
  • High origination fee compared to LendingPoint
  • Requires at least $1,000 in monthly cash flow
Loan amount$1,000 to $50,000
APR8.49% to 35.97%
Interest Rate TypeFixed
Minimum credit score620
Turnaround Time1 to 4 business days
Maximum Loan Term7 years
Minimum Loan Term2 years

Alternative for bad credit

OneMain Financial personal loans

3.4 / 5

If you can't meet LendingPoint's credit score cutoff, OneMain might be a better option. This lender is one of the few personal loan providers that works with all credit types. It also offers the option to back your loan with collateral to help you qualify for lower rates. But avoid OneMain if you can qualify with a fair credit lender. Its rates are high for a personal loan, ranging from 18% to 35.99%, including an origination fee as high as 10%.

  • Not available in: Alaska, Arkansas, California, Connecticut, Massachusetts, Michigan, Rhode Island, Vermont
  • Works with all credit types
  • Secured and unsecured loans
  • Same-day funding available
  • High starting APR of 18%
  • Origination fee up to 10%
  • Property insurance required for collateral
Loan amount$1,500 to $20,000
APR18% to 35.99%
Interest Rate TypeFixed
Minimum credit scoreVaries
Turnaround TimeAs soon as the same day
Maximum Loan Term5 years
Minimum Loan Term2 years

Alternative for quickly comparing options

Monevo personal loans

4.4 / 5

Monevo is an online connection service that can help you quickly compare multiple offers — even if you have bad credit. You can you can find loans as high as $500,000 and rates as low as 1.99% through Monevo, but you likely won't qualify for that amount or rate unless you have near-perfect credit and a high monthly cash flow. But it can speed up the process of searching for the best deal available to you without impacting your credit. And unlike many other connection services, it's upfront about the lenders that it works with so you know where your information is going.

  • Available in all states
  • Quickly prequalify with multiple providers
  • Options for all credit types
  • Transparent about partners
  • Options limited to Monevo's partners
  • May receive marketing emails and phone calls
  • Some of its partners manually underwrite loans
Loan amount$1,000 to $500,000
APR1.99% to 35.99%
Interest Rate TypeFixed
Minimum credit score300
Turnaround TimeVaries by lender
Maximum Loan Term12 years
Minimum Loan Term0.5 years

Alternative for a peer-to-peer lending site

LendingClub personal loans

3.6 / 5

LendingClub is a peer-to-peer lending platform, a solid choice for borrowers with an average or fair credit score. While LendingPoint can accept borrowers with a credit score at 585, rates offered with LendingClub are lower with a starting APR of 8.05%. LendingClub accepts coapplicants if you want to shoot for a better rate and there’s a soft credit check to see your available rates. It advertises a 24-hour approval time, with an average two-day turnaround time. However, it has a rough history — with an FTC complaint in 2018.

  • Not available in: Idaho, Iowa
  • Accepts fair credit
  • Quick turnaround time
  • Fair rates
  • Coappliants accepted
  • 4.8-star rating on Trustpilot
  • FTC complaint and charges in 2018
  • Impersonations of LendingClub
Loan amount$1,000 to $40,000
APR8.05% to 36%
Interest Rate TypeFixed
Minimum credit score600
Turnaround Time2 business days
Maximum Loan Term5 years
Minimum Loan Term3 years

How does LendingPoint compare?

LendingPoint is known for accepting fair credit scores, with a low minimum credit score requirement of 585. However, downsides include a high origination fee up to 6%, and rates can start at 9%. On a more positive note, it is BBB accredited with an A+ rating, and it's holding a 4.9-star rating on Trustpilot with nearly 7,000 reviews.

For more detailed information on this lender, read our LendingPoint review.


  • Fast funds through debit card
  • Minimum credit score of 620
  • Reasonable rates
  • Risk-free estimates


  • Amounts only up to $36,500
  • Origination fee of 0% to 8%
  • Payments every 28 days

Read our guide to the best personal loans for fair credit to compare more options.

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