Tuesday, January 25th
2022 Personal Loan Reviews
LendingTree
- Referral service that matches you with up to 5 lending partners
- Loans available from $1,000 to $50,000
- Good interest rates
- Repayment terms between 61 days and 180 months
- "A+" rated and accredited by the BBB
- 24+ years in business
LendingTree is part of a large financial brand family that also includes Ovation Credit Services, Student Loan Hero, and QuoteWizard. Each brand focuses on specific financial services, and LendingTree gives you access to borrowing options for mortgages, auto loans, and, of course, personal loans.
Broad database of lenders
One of the reasons why we would choose LendingTree over other personal loan referral services is their extensive lender database. This site makes it extremely easy to learn about any lenders who make you a loan offer, from company history to hundreds (if not thousands) of client reviews. That's important, because LendingTree has financial partners you've probably never heard of - and reading through their detailed reviews can set your mind at ease that your personal loan is in good hands.
Basic application process
How do you get started with finding a personal loan through LendingTree? That's easy: first choose the purpose of your loan, such as paying off debt or making a major purchase, in the dropdown box. Then move the slider to the amount you're requesting, and indicate how quickly you need the money (anywhere from "within 48 hours" to "unsure, just browsing rates" ). From there, you'll be asked for your address, your credit score range, your birthdate (to verify your identity), pre-tax income, and several other basic questions.
Option account benefits
In the last step of the account-creation process: you'll be asked if you want to include a free My LendingTree account, which comes with complimentary credit monitoring and monthly score reports, dark web monitoring, and more. Important - you'll automatically be enrolled into this service if you don't uncheck the box.
See up to five lender offers
The next screen will provide you with loans offered by LendingTree partners, assuming your information was verified. You then click on the loan offer that best meets your needs, complete any lender requirements, and you're on your way to getting your funds. If you aren't matched with any personal loans, expect to get recommendations for budgeting tools and money management advice.
Thousands of 5-star reviews
LendingTree has a strong positive reputation with more than two decades in operation, including accreditation and an "A+" rating from the Better Business Bureau. Out of nearly 10,000 independently-verified reviews, the company received over 7,600 perfect five-star ratings from clients.
Some issues to consider
You should be aware that LendingTree has its share of complaints, too. Many customers have reported a spam-like volume of calls, emails, and texts after completing the application process. Some customers still receive calls for weeks after applying for a loan through LendingTree. They could probably do a better job controlling their lending partners when it comes to customer contacts.
Great choice for getting multiple loan offers
If you want the most hassle-free way to compare a variety of personal loan offers from multiple financial institutions, LendingTree is a great choice. The service is easy to use and will very likely match you with a loan that fits your needs.
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The 12 Best Personal Loans
Where Can You Find the Best Personal Loans?
With inflation on the rise and an endless list of possibilities for unexpected expenses - car repairs, visits to the ER, and broken appliances, to name a few - it's no wonder that an increasing number of people are applying for personal loans.
Sound familiar? If you find yourself in need of some cash, you've probably considered borrowing from a friend or relative - but there's no guarantee that your loved ones are in a position to help, and who really wants to ask? Fortunately, you've got options that don't involve an awkward conversation with people you know. There are many lenders that specialize in personal loans ranging from $500 to as much as $100,000, with simple application processes that can be completed 100% online.
Personal Loan FAQ
Continued from above...
What's the catch? There isn't one, as long as you choose your lender carefully. Some providers of personal loans charge excessively high interest rates and offer shorter-than-average terms, making it harder for you to pay it back on time. On the other hand, most reputable sources of personal loans are completely transparent with their interest rates, give repayment terms of up to five years, and won't charge you any fees if you're able to pay off your loan earlier than anticipated.
How can you determine which lender is the best choice for your personal loan? That largely depends on your individual circumstances, but there are several factors to keep in mind as you consider your options. They include the following:
- Loan amount. How much can you borrow? Some lenders offer a maximum loan of $4,000 or less, while others can fund loans of $25,000 or more. Make sure the provider you choose can actually give you the money you need.
- Loan terms. How much will you pay in interest? How long will you have to repay the personal loan? Are there any origination fees, prepayment penalties, or other costs associated with the loan?
- Eligibility. What is required to qualify for a loan? Some lenders have minimum credit score requirements, residency requirements, or other criteria you need to meet to be approved for a loan.
- Referral service or direct lender. Some personal loan platforms work as a one-stop shop to compare offers from multiple institutions, while others fund your loan directly. A referral service is a great way to make sure you're getting the lowest possible interest rates, but you may still have to go through the application process with the lender itself.
- Reputation. What do other borrowers say about their experience with the lender? Has the company gotten a positive evaluation from the Better Business Bureau?
TopConsumerReviews.com has reviewed and ranked the best providers of personal loans available today. We're confident that this information will help you get the money you need, deposited quickly and at the lowest possible rates!
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