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LendingTree vs LifeLoans

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LENDINGTREE

LendingTree is one of the most recognized names in the personal loan market, connecting borrowers with a wide assortment of potential lenders that can meet their financial needs on loans from $1,000 to $35,000.

As a connection service rather than a lender, the loan products LendingTree has to offer and their terms and conditions naturally vary with each individual lender. One advantage of using LendingTree is the ability to survey multiple lenders' offerings without having to disclose one's identifying information to those lenders, only doing so when the customer has made the decision to apply for the lender that best fits their requirements. Borrowers can also use offers obtained on LendingTree to negotiate directly with lenders; LendingTree provides customers with lenders' direct contact information for that very purpose.

If you choose to research loans using LendingTree, be aware that you will need to provide your credit score, which is used by lenders to determine if they would like to compete for your business. Even if you have a low credit score, you may still receive offers as LendingTree has several providers who work with borrowers just like you.

One thing to note is that LendingTree's main website takes you to the page for entering your information to get started in the quote process, and there is very little other information on that page. We were able to determine that entering your personal information to begin the process will not impact your credit report or your credit score, though we would have liked to see that fact clearly spelled out on LendingTree's landing page.

With a solid A+ rating with the Better Business Bureau, accredited since 1998, and its ability to connect borrowers with a wide range of potential lenders, we give LendingTree high marks.

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LIFELOANS

Offering personal loans ranging from $100 to $35,000, LifeLoans says they can "get the cash you need fast". To get started, the site asks you to enter your desired loan amount, your monthly income, your credit score, and your zip code. From there, you are taken to a page that asks for much more specific personal information, including your address and zip code. From there, the site says they will pass along your details to up to 6 lending partners in their network, who will contact you directly. And, if you don't qualify for a traditional personal loan, the disclaimer also explains that you may be referred to lenders offering "payday loans", which typically have much higher interest rates than personal loans.

Of course, in this age of identity theft, it's important to confirm that your information will be safe before entrusting it to a website. Is LifeLoans a trustworthy source of personal loans?

LifeLoans is a member of the Online Lenders Alliance, which expects its members to uphold standards of integrity and honesty in the lending process. But, unlike most of the other personal loan services in our review, LifeLoans maintains no reputation with the Better Business Bureau.

In fact, we were unable to find a single review from a LifeLoans customer - positive or negative. We also couldn't find a phone number to call with questions, or an email address to contact them with. Residents of Connecticut, New Hampshire, Washington, and Vermont are not eligible to submit a request for a loan through this site.

Overall, we weren't impressed with what LifeLoans offers with respect to personal loans. If you're looking for transparency and an established track record of helping customers get the money they need, we suggest you consider one of the higher-ranked lenders in our review first.

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Personal Loans

To help you find the Best Personal Loans, TopConsumerReviews.com provides you with an in-depth comparison of LendingTree and LifeLoans.

Are you in need of some cash? Historically, borrowers have had limited options for a personal loan. You could ask a family member, a friend, or find a personal finance company that offered fixed-rate loans, typically at exobrtantly high interest rates.

Today, however, finding a personal loan brings several more options to the table. While you can still ask a family member, or get a high-rate loan from a finance company, you can also consider using a social lending network. These networks, also called peer-to-peer loans, generally have much lower overhead and as a result can offer much lower interest rates. They're facilitated by professional companies familiar with this type of lending, to simplify things for all parties.

No matter where you borrow money from, before you get your next personal loan you should consider the following:

  • BBB rating. Does the lending company have a solid history of doing good business with its customers?
  • Loan size and rate. How much will the lending company offer? What interest rate do they charge their customers?
  • Loan application process. When applying for your personal loan, can it be completed online? Is the lending process easy and straightforward?

TopConsumerReviews.com has reviewed and ranked the best online personal loan providers available today. We hope this information helps you find the best loan at an affordable rate that meets your needs!



Personal Loans In The News

How to Apply Online for Personal Loans

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The short and long of personal loans

We have all been in situations where we have found ourselves in need of money. In school or colleges we could probably borrow it from our friends or family, but there are bound to be instances where o...

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Personal loans surge to a record high

Heather Turner and her husband needed a few thousand dollars to jump-start the adoption of a teenager from Ukraine, and their timing was good: Lenders led by online firms have opened the spigot for pe...

Published:  Tue, 03 Jul 2018 21:30:00 GMT



LendingTree Study: Comparison Shopping for Personal Loans Can Save Consumers 35 Percent on Interest

CHARLOTTE, N.C., June 27, 2018 /PRNewswire/ -- LendingTreeĀ®, the nation's leading online loan marketplace, today released a new analysis of personal loan offers to LendingTree users that found shoppin...

Published:  Wed, 27 Jun 2018 18:13:00 GMT



Personal loans surge to a record as fintech firms lead the way

Heather Turner and her husband needed a few thousand dollars to jump-start the adoption of a teenager from Ukraine, and their timing was good: Lenders led by online firms have opened the spigot for pe...

Published:  Wed, 04 Jul 2018 05:27:00 GMT



Tanzania: Personal Loans Up - BoT

Dar es Salaam - Personal loans grew by 56 per cent during the third quarter of this year ended in March from a contraction of 4.9 per cent during the first quarter of last year ended in March. This si...

Published:  Wed, 13 Jun 2018 05:06:00 GMT



Banks mull common portal to offer competitive personal, housing & other retail loans

The government also wants PSBs to use new financial technologies to make business transactions quicker and hassle-free. NEW DELHI: State-run banks are mulling a common portal where they could offer co...

Published:  Fri, 29 Jun 2018 20:22:00 GMT



Maharashtra tops list of states in growth of personal loans: RBI

WITH THE economic slowdown and weak demand for credit from industry, one of the key drivers of bank credit growth has been personal loans. These refer to credit extended for buying a house, vehicle, f...

Published:  Fri, 18 May 2018 14:38:00 GMT



Personal Loan Industry Growing Fast In The U.S.

The personal loan industry is having a record year, with the value of outstanding balances going up 18 percent in the first quarter of 2018. The growth in these personal loans isn't due just to big tr...

Published:  Wed, 04 Jul 2018 07:44:00 GMT




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