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LendingPoint personal loans review

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LendingPoint personal loans
Finder score
Max. Loan Amount
7.99% to 35.99%
Min. credit score

Our verdict

Fair credit accepted — but with higher-than-average rates and fees.

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 620 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 8%. Plus, loan amounts are capped at $36,500, 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.


  • Open to fair-credit borrowers
  • Prequalify without affecting your credit score
  • Fast turnaround


  • High rates
  • Origination fee
  • Low maximum amount
  • Loan due date could change every month

In this guide

  • Our verdict
  • Details
    • Product details
    • Contact info
  • Your reviews
  • Ask a question's rating: 3.48 / 5.0


Bottom line: LendingPoint's relatively low credit requirements make it an affordable alternative to other types of financing. But you can find lower rates and higher loan amounts elsewhere.


Product details

Min. Loan Amount $2,000
Loan Amount $36,500
APR 7.99% to 35.99%
Interest Rate Type Fixed
Min. credit score 620
Origination Fee 0% to 8%
Loan term 2 to 5 years
Turnaround Time As soon as 1 business day

Contact info

Phone number 888-969-0959
Twitter @LendingPoint
Facebook @LendingPoint1

LendingPoint rates, fees and terms

LendingPoint personal loans rates run from 7.99% to 35.99% APR. This might include an origination fee, which can range from 0% to 8%. If your loan comes with a fee, you can choose to either have the origination fee added or deducted from the loan amount.

You can borrow between $2,000 and $36,500 with terms from 2 years to 5 years. Use the calculator below to find out how much a loan at different rates and terms might cost you per month.

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How LendingPoint compares to other providers

Here’s a snapshot of how LendingPoint compares to other providers that accept fair credit.

LendingPoint personal loans

Upgrade personal loans


Finder rating 3.3 / 5


Finder rating 4 / 5

Go to site
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7.99% to 35.99%


8.49% to 35.99%

Loan term

2 to 5 years

Loan term

2 to 7 years

Loan amount

$2,000 to $36,500

Loan amount

$1,000 to $50,000

Min. credit score


Min. credit score


LendingPoint reviews and complaints

BBB accredited Yes
BBB rating A
BBB customer reviews 4.16 out of 5 stars, based on 266 customer reviews
Trustpilot Score 4.9 out of 5 stars, based on 8,017 customer reviews
Customer reviews verified as of 18 March 2023

In the past, LendingPoint didn’t have great customer ratings and reviews on its Better Business Bureau (BBB) profile. However, those ratings have drastically improved, and LendingPoint currently holds a 4.16-star rating — one of the highest ratings we’ve seen on a BBB profile for a direct lender.

LendingPoint’s reviews on Trustpilot are stellar as well, with 95% of all ratings being 5-star. Across BBB and Trustpilot, reviews praise LendingPoint’s helpful representatives, often calling out employees by name. Other positive reviews talk about a quick and easy application process, and quick service.

Negative reviews are few and far between, but many of those reviews are users expressing disappointment that they weren’t approved, didn’t receive the amount they needed or got a higher interest rate than they would have liked. But these grievances are pretty standard for a loan provider and, in our opinion, are far outweighed by the thousands of positive reviews.

How to qualify

LendingPoint does not offer cosigned or joint personal loans, so you’ll apply alone. LendingPoint lists its eligibility criteria for personal loans clearly on its site, which are:

  • Be 18 or older
  • Government-issued ID
  • Have an SSN
  • Minimum annual income of $35,000
  • Bank account in your name

How the application works

LendingPoint’s application process is completely online and should only take a few minutes. After you submit the online form, LendingPoint will underwrite 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, usually by the next business day.

You can choose between traditional monthly repayments or making payments twice a month. Payment options include autopay, debit cards, online transfers or certified funds via a check or money order.

LendingPoint loans are often due every 28 days

Most of LendingPoint’s loans are written with a 28-day payment schedule, meaning 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, sign up for automatic payments and keep track of your due dates. Reach out to LendingPoint if you think you may not be able to make a repayment on time.

What sets it apart

LendingPoint’s fast turnaround and somewhat low credit requirements — 620 for a minimum credit score — make it an easy option for borrowers who can’t qualify for a loan with lower interest rates. But if you have a credit score above 670 — what most lenders consider to be good credit — you can likely find a better deal with another provider.

Is LendingPoint legit?

Yes, LendingPoint is a legitimate lender. It displays licenses for all states where it offers loans online, when required. And it’s registered with the Nationwide Multistate Licensing System (NMLS) under number 1424139.

It also 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 uses 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.

See how LendingPoint stacks up to the competition with our guide to other lenders similar to LendingPoint — they may be able to offer you a better deal.

Frequently asked questions

Get answers to some common questions about LendingPoint personal loans.

I didn’t get the loan. What can I do?

f you’re not sure why your application was rejected, reach out to LendingPoint to find out why. It might be as simple as an inconsistency on your application.

If you were rejected over your personal credit, you might want to take steps to up your credit score before applying for a loan with LendingPoint — or any other lender. Other ways to improve your chances next time around include paying off some of your debt or finding a second job to improve your debt-to-income ratio.

Need funding now? Our guide to fair credit personal loans.

How does LendingPoint keep my personal and banking information safe?

LendingPoint safeguards your information through robust industry procedures and encryption. If you have any questions about safety, you can contact LendingPoint via email.

Can I apply for a LendingPoint personal loan with a cosigner?

Currently, no. LendingPoint only takes your personal information into account when you apply for a loan, even if you file jointly with your spouse.

See other personal loan options

Use this table to compare more personal loan providers that you might qualify with.

Name Product Filter Values APR Min. credit score Loan amount
LightStream personal loans
Finder Score: 4.8 / 5: ★★★★★
LightStream personal loans
7.49% to 25.99%
Good to excellent credit
$5,000 to $100,000
Borrow up to $100,000 with low rates and no fees.
PenFed Credit Union personal loans
Finder Score: 3.6 / 5: ★★★★★
PenFed Credit Union personal loans
7.99% to 18%
$600 to $50,000
With over 80 years of lending experience, this credit union offers personal loans for a variety of expenses.
Finder Score: 4 / 5: ★★★★★
8.49% to 35.99%
$1,000 to $50,000
Check your rates with this online lender without impacting your credit score.
Best Egg personal loans
Finder Score: 3.8 / 5: ★★★★★
Best Egg personal loans
8.99% to 35.99%
$2,000 to $50,000
Fast and easy personal loan application process. See options first without affecting your credit score.
Credible personal loans
Finder Score: 4.3 / 5: ★★★★★
Credible personal loans
4.60% to 35.99%
Fair to excellent credit
$600 to $100,000
Get personalized prequalified rates in minutes and then choose an offer from a selection of top online lenders.
Freedom Debt Relief
Not rated yet
Freedom Debt Relief
Starting at $4,000
Freedom Debt Relief works to help people with unmanageable, unsecured debt get back on their feet.

Personal loan ratings

★★★★★ Excellent
★★★★★ Good
★★★★★ Average
★★★★★ Subpar
★★★★★ Poor
We analyze top personal loan providers and rate them one to five stars based on factors that are most important to you. These factors include: rates and fees, customer reviews, loan amounts, loan processing and borrower experience. Read the full methodology of how we rate personal loan providers.

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