LendingPoint Personal Loans 2024 Review, Same-Day Funding for Fair Credit Borrowers

Fast funding and competitive rates

LendingPoint personal loans stand out for same-day funding when you need cash quickly. Loan amounts range from $2,000 to $36,500 and APRs vary widely, so shopping rates matters; LendingPoint advertises APRs from roughly 7.99% up to 35.99% depending on credit and income.

Keep in mind the origination fee can reach up to 10% and is deducted from proceeds, which affects the net amount you receive. For fair credit borrowers, LendingPoint personal loans still offer a fast option with transparent fee ranges and clear repayment terms.

Who qualifies and how to apply

Typical eligibility for LendingPoint personal loans includes a minimum credit score around 660, U.S. citizenship, a Social Security number and steady income—often about $35,000 a year as a guideline. You’ll also need a bank account for direct deposit and proof of income like pay stubs or W-2s.

Pre-qualification uses a soft credit check so you can see estimated rates without hurting your score. If you accept an offer, LendingPoint completes a hard inquiry and, once approved, many borrowers get same-day or next-business-day funding.

Tools, customer support and credit reporting

The LendingPoint mobile app helps manage payments, monitor credit scores and access budgeting tips to improve your financial health over time. Borrowers can adjust a payment due date once after closing and once per year, which adds helpful flexibility when cash flow shifts.

One downside: LendingPoint reports to Experian and TransUnion but not always to Equifax, so on-time payments may not appear on every credit report. There’s also a hardship program and a responsive customer service team to work through temporary struggles.

Pros, cons and alternatives

For fair credit borrowers, LendingPoint personal loans are great when you want quick funding, an easy online application and a chance to pre-qualify. Pros include same-day funding potential, loan amounts that suit mid-sized projects and clear APR ranges; cons include the origination fee and limited bureau reporting.

If LendingPoint doesn’t fit, consider competitors like SoFi, LightStream, Discover or Upgrade for different rates, longer maximum terms or co-signer and secured options. Compare APRs, fees and funding speed so you pick the loan that best matches your budget and goals.