The conclusion: LendingPoint is actually a good alternative whether your borrowing from the bank actually from the top figure therefore try not to qualify for financing which have another financial. But not, the range of financing wide variety is much more minimal than almost every other lenders offer, of course, if you may have a good credit score, you might likely obtain a good rate elsewhere.
LendingPoint personal loan numbers and you may interest rates
LendingPoint also provides unsecured loans out of $2,100000 so you’re able to $36,five hundred. That it minimum exceeds most other comparable personal bank loan enterprises; by way of example, Upgrade and you may Upstart provides minimums off $1,one hundred thousand. Change and Upstart also have that loan limitation of $fifty,100, that’s significantly greater than LendingPoint’s maximum.
The eye cost toward LendingPoint funds start around nine.99% so you can %, which is around practical having a personal bank loan for those who have reduced borrowing from the bank. Revise and you may Upstart possess lower starting prices, but you will most likely you would like good credit history in order to qualify.
Benefits and drawbacks regarding LendingPoint signature loans
- Reasonable lowest credit history so you can qualify. LendingPoint keeps the very least credit score dependence on 580 is qualified to receive that loan, which is lower than of several comparable loan providers.
- Highest Better business bureau rating. The fresh new Bbb gives LendingPoint an one+ rating, together with organization has no present scandals.
- No prepayment charges. You might repay the loan very early with LendingPoint without paying a fee. Continue reading “LendingPoint signature loans review: Good choice when you have the lowest credit rating”