Our reviewers evaluate products and services based on unbiased research. Top Consumer Reviews may earn money when you click on a link. Learn more about our process.

Discover vs LendingTree

Tuesday, April 23rd

2024 Personal Loan Reviews

Discover Review 4.5 Star Rating

Discover

4.5 Star Rating
  • Loans ranging from $2,500 to $40,000
  • Terms ranging from 36 to 84 months
  • Next-day funding available after approval
  • No origination fees
  • No penalty for prepayment
  • Over 25,000 five-star reviews for personal loans

Discover has more than just credit cards; they can help you finance your personal projects. Their personal loans, ranging from $2,500 to $40,000, offer competitive interest rates and terms from 36 to 84 months. Plus, with next-day funding available after approval, you can quickly access the funds you need without waiting. There are no origination fees or penalties for prepayment, saving you money compared with many rival lenders. With over 25,000 five-star reviews, customers praise Discover for offering better rates and terms than traditional banks or credit unions, making it a great choice for personal loans.

LendingTree Review 3.5 Star Rating

LendingTree

3.5 Star Rating
  • Personal loans available up to $50,000
  • Referral service connects you with up to five lending partners
  • APRs vary per lender
  • Repayment terms range from 24 to 84+ months
  • Accredited with an "A+" rating by the Better Business Bureau
  • Operating for nearly 30 years

When you're looking for money, LendingTree helps you find personal loans from different lenders. They've been around for a long time and have lots of financial partners to choose from. You can borrow up to $50,000, but the interest rates and terms depend on which lender you pick and your particular situation. This platform offers tons of information about each lender in their network, and it's a great resource if you want to do some research, even if you don't ultimately use LendingTree to shop for a personal loan. Just be aware that some people say they get an abundance of marketing-type messages from other companies after using LendingTree. Despite that, it's still a good place to find personal loans from different lenders, earning a good score from us.

Where Can You Find the Best Personal Loans?

Personal loans are a type of borrowing where you can get money from a bank, credit union, or online lender and pay it back over time with interest. Why would you want to take out a personal loan? There are plenty of reasons. Typically, people turn to personal loans for big purchases or expenses you can't afford to pay for all at once, like buying a car, paying for a wedding, or covering unexpected medical bills.

Personal loans can also be helpful if you want to consolidate high-interest debt from credit cards into one lower-interest loan, which can save you money in the long run. Some people also use personal loans to fund home improvement projects or even to take a much-needed vacation.But before you go rushing off to apply for a personal loan, there are a few things you should consider.

The Best Personal Loans Compare Personal Loans Compare Personal Loan Reviews What are the best Personal Loans Best Personal Loan Reviews

Personal Loan FAQ

Any way you like! Personal loans typically don't come with restrictions on how they're used. Paying off high-interest credit cards, splurging on a luxury item you've always wanted, taking a much-needed family vacation: you can use your personal loan for all of that and more.
Most banks and credit unions offer personal loans, but your financial institution might not offer the most competitive rates. There are many lesser-known sources that want to earn your business with lower APRs and more personalized attention over the life of the loan.
That depends on a number of factors, such as your credit history and income. It's definitely worth shopping around, just like you would when buying a car or other big-ticket item. Consider using a service that allows you to get loan offers from multiple lenders with a single application: that will make it more likely that you'll get the best possible rate and terms on your personal loan.
When you're making an initial inquiry to see if you qualify for a personal loan, it usually involves a "soft pull" on your credit - verifying your identity, credit score, and current debts. That will not lower your credit score. However, if you take the next step and apply for a specific loan, expect that your credit score may dip a (but only temporarily).
Most lenders allow you to complete the process online, from beginning to end. That's a big perk for people who can't get to a brick-and-mortar bank during regular business hours.
Personal loans are available in amounts ranging from $100 to $100,000. Before you get too excited and start planning how you'll spend the money, keep in mind that the amount you'll actually be approved for depends on your financial situation. The higher your credit score and the lower your outstanding debts, the more likely it is that you will qualify for a bigger loan.
The application process can be extremely fast: some lenders can approve your loan in just a few minutes. Once you accept a personal loan offer, most providers will direct deposit the funds within 1-5 business days.
As with any kind of loan, it's important to keep track of the details: don't borrow more money than you can comfortably repay, make on-time payments every month, and communicate with your lender if unforeseen circumstances arise (e.g. unemployment, natural disaster, disability) and you need forbearance or other accommodations. It's also wise to check out the reputation of the lender: reviews from previous clients and a rating from the Better Business Bureau can be very informative as you decide which provider to use for your personal loan.
Compare the Best Reviews

Continued from above...

First, think about whether you really need the money and if you can afford to pay it back. Taking out a loan is a big responsibility, and you don't want to get in over your head with debt. Take a look at your budget and make sure you can comfortably make the monthly payments.

Next, you'll want to shop around and compare loan offers from different lenders to make sure you're getting the best deal. Pay attention to things like interest rates, fees, and repayment terms. You can usually get prequalified for a loan online without affecting your credit score, which can help you see what kind of offers you might be eligible for.

Speaking of applying online, should you do it? Absolutely. It's super convenient to apply for a personal loan online since you can do it from the comfort of your own home and compare offers from multiple lenders without having to visit a bunch of banks or credit unions in person.

Plus, many online lenders offer quick approval and funding, so you can get the money you need fast. Just make sure you're dealing with a reputable lender and that you understand all the terms and conditions of the loan before you sign on the dotted line.

Now that you're ready to apply for a personal loan, which lender or website is best? Here are some things to look for as you make the decision:

  • Can the lender offer you the amount you're thinking of borrowing? Some personal loan providers only go up to $10K, while others go as high as $100K.
  • Rates and fees. It's important to know not only how much you'll be paying in interest but also in fees (like origination). Fees are often taken out of the loan money before it hits your account, which can affect the amount of the loan you need to request.
  • Funding timeframe. How long will it take for your loan money to get to you? Can you get it deposited into your bank account in a day or less? If you need the money quickly, choose a lender that can get it done fast.
  • Reputation. Does the lender or referral service have a good reputation? Do people who have used it to borrow money recommend it? Has the Better Business Bureau given the company a good grade?

To help you find the best option for getting a personal loan, the experts at Top Consumer Reviews have reviewed and ranked some of today's most popular lenders and referral platforms. Use our research to start your journey with a trustworthy company and get the funds you need!

Compare Personal Loans

Select any 2 Personal Loans to compare them head to head

best-personal-loans
  • Upstart
  • SuperMoney
  • Discover
  • Happy Money
  • SoFi
  • Splash Financial
  • LendingTree
  • Prosper
  • Bad Credit Loans
  • Ace Cash Express
  • Personal Loans
Upstart vs SuperMoney Upstart vs Discover Upstart vs Happy Money Upstart vs SoFi Upstart vs Splash Financial Upstart vs LendingTree Upstart vs Prosper Upstart vs Bad Credit Loans Upstart vs Ace Cash Express Upstart vs Personal Loans SuperMoney vs Discover SuperMoney vs Happy Money SuperMoney vs SoFi SuperMoney vs Splash Financial SuperMoney vs LendingTree SuperMoney vs Prosper SuperMoney vs Bad Credit Loans SuperMoney vs Ace Cash Express SuperMoney vs Personal Loans Discover vs Happy Money Discover vs SoFi Discover vs Splash Financial Discover vs LendingTree Discover vs Prosper Discover vs Bad Credit Loans Discover vs Ace Cash Express Discover vs Personal Loans Happy Money vs SoFi Happy Money vs Splash Financial Happy Money vs LendingTree Happy Money vs Prosper Happy Money vs Bad Credit Loans Happy Money vs Ace Cash Express Happy Money vs Personal Loans SoFi vs Splash Financial SoFi vs LendingTree SoFi vs Prosper SoFi vs Bad Credit Loans SoFi vs Ace Cash Express SoFi vs Personal Loans Splash Financial vs LendingTree Splash Financial vs Prosper Splash Financial vs Bad Credit Loans Splash Financial vs Ace Cash Express Splash Financial vs Personal Loans LendingTree vs Prosper LendingTree vs Bad Credit Loans LendingTree vs Ace Cash Express LendingTree vs Personal Loans Prosper vs Bad Credit Loans Prosper vs Ace Cash Express Prosper vs Personal Loans Bad Credit Loans vs Ace Cash Express Bad Credit Loans vs Personal Loans Ace Cash Express vs Personal Loans
Compare the Best Personal Loans
- VS -
Review the Best Personal Loans
See the Best Personal Loan
The Best Reviews of Personal Loans