What does this mean for my account?

The unsecured personal loan market continues to hit record highs, and despite challenging macroeconomic conditions, shows few signs of slowing down.

Banks that diversify across customer segments, lending categories, income streams, geographies, and digital platforms are not courting fragility, but insulating themselves against it.

The typical investment mix of long-term loans and securities may turn out to yield lackluster results. Banks may have another investment option: consumer credit.

Budgeting is a lifelong money management skill that can help you control your spending, save for the unexpected, and build a strong financial foundation. 

Your credit utilization rate measures the balances of your revolving accounts against your credit limits. Naturally, your ratio can influence your credit scores. A low utilization rate could improve your credit scores while a high utilization rate may hurt them.

The program has been winding down for several years since LendingClub has transitioned to a marketplace bank.

Your initial deposit for opening your account will be held for 5 days in order to validate your account.

LendingClub does not pull credit as part of our account opening process. However, we do obtain information from a credit bureau used to validate your personal information. The request for information does not affect your credit score.

Yes! As part of the application you will have the opportunity to add a joint account owner after you submit your personal information and receive confirmation on the details of your newly approved LendingClub account.

To open a savings or certificate of deposit account, you need to be 18 or older and a citizen or resident of the United States

{noun} A type of credit that allows the borrower to make charges and payments against a set borrowing limit, paying interest only on outstanding balances.

{noun} The total annual cost to borrow money, including fees, expressed as a percentage.

{noun} The amount of unpaid interest that has accumulated as of a specific date, either on a loan or an interest-bearing account or investment. 

A debt that is written off as a loss because the financial institution or creditor believes it is no longer collectible due to a substantial period of nonpayment.

{noun} An interest rate that remains the same for a set time, usually for the life of the loan.