How do I get a debit/ATM card?

A personal loan and credit card can be important financial tools, but it's important to understand how they each work before deciding which one to use. 

Simple interest is calculated only on the principal amount, while compound interest is calculated on the principal plus any accumulated interest. Due to the interest-on-interest effect, compound interest grows faster over time.

Debt-to-income ratio measures your monthly debt payments against your income. Improve it by paying down debts, increasing income, or avoiding new debt.

Someone might be declined a personal loan due to poor credit score, high debt-to-income ratio, or insufficient income. Next steps include improving credit, reducing debt, or applying with a co-signer. Consider checking your credit report for errors and exploring other lenders.

Need to fill gaps in your budget, cover a large expense, or pay down high-interest debt at a lower cost? Understanding how to take out a personal loan is the first step to securing the funds you need to cover temporary, short-term expenses.

From groceries and diapers to Halloween costumes for pets, nearly 60% of American consumers prefer to shop online for everyday items that make life more convenient, comfortable, and enjoyable. And with rising prices showing no signs of stopping anytime soon, we’re pleased to introduce StackitTM from LendingClub Bank—a new browser extension that automatically finds and rewards eligible members with coupons and cash back for extra savings at more than 15,000 favorite online retailers.

Even in today’s low-yield, high-inflation environment, it’s essential to keep a certain amount of money in an easy-to-access checking or savings account for things like daily household and emergency expenses, or to meet short-term financial goals.

Since 2007, LendingClub has been on a mission to deliver a world-class experience to all our members. This month we took a moment to reflect on the more than four million members who have chosen LendingClub as their partner to help them reach their financial goals.

In March 2022, we hosted our first quarterly webinar where we celebrated our one-year anniversary as a digital marketplace bank. 

LendingClub completed the acquisition of Radius Bank in February 2021. At that time, in addition to the direct-to-consumer deposit business, we inherited a fintech partner program, and several lending businesses. As we reach the one-year anniversary of the acquisition, and in conjunction with the conclusion of a strategic review of our business operations, we have made the decision to discontinue certain businesses that don’t fit our mission.  

Yes! As part of the application you will have the opportunity to add a joint account owner after you submit your personal information and receive confirmation on the details of your newly approved Lending Club account.

Your initial deposit for opening your account will be held for 5 days in order to validate your account.

LendingClub does not pull credit as part of our account opening process. However, we do obtain information from a credit bureau used to validate your personal information. The request for information does not affect your credit score.

You can request to add a beneficiary as part of your application or after submitting and receiving confirmation on your new LendingClub account.

To open a savings or certificate of deposit account, you need to be 18 or older and a citizen or resident of the United States

{noun} A type of credit that allows the borrower to make charges and payments against a set borrowing limit, paying interest only on outstanding balances.

{noun} The total annual cost to borrow money, including fees, expressed as a percentage.

{noun} The amount of unpaid interest that has accumulated as of a specific date, either on a loan or an interest-bearing account or investment. 

A debt that is written off as a loss because the financial institution or creditor believes it is no longer collectible due to a substantial period of nonpayment.

{noun} An interest rate that remains the same for a set time, usually for the life of the loan.