Automatic Minimum Payment Agreement

Last revised May 2025

Automatic Minimum Payments.

To complete your request for enrollment into the Automatic Minimum Payments feature, read the terms and agree to the information below by checking the box and pressing the button to save your Automatic Minimum Payment Settings on the payment screen. You must have a LendingClub checking account to be eligible to enroll in the Automatic Minimum Payments feature. The Automatic Minimum Payments feature is available only for Linked Cards. Once you agree to the terms and complete enrollment, you will receive an email confirming your enrollment in the Automatic Minimum Payments feature and authorization of recurring payments. If you enroll in the feature less than four Business Days in advance of your first payment due date, the first Automatic Minimum Payment will be made in the following month. In this situation, please complete your first payment outside of the DebtIQ to avoid any potential late fees or disruption to payment. Terms not defined in this Automatic Minimum Payment Agreement have the definitions set forth in the DebtIQ Terms of Use.

Payment Instructions

You authorize LendingClub to debit your Payment Account on a recurring basis in an amount equal to the minimum payment due (including any fees that may be included in the minimum payment due), as reported by your bank or credit card company to our Service Providers. If the due date falls on a non-Business Day, the amount of the payment will be debited three business days prior to the Business Day that precedes your due date. If you do not have sufficient funds in your Payment Account to cover the full minimum payment due (considering any other payments you may have made as described below), we will not initiate a payment through the Automatic Minimum Payments feature.

Please note that the amount paid through the Automatic Minimum Payments feature in DebtIQ will never be more than the minimum payment due reported by your bank or credit card company to our Service Providers. However, it may be less than the minimum payment due as a result of other payments made or credits received during the applicable billing cycle. Payments made using the One-Time Payments feature in DebtIQ and payments made outside of DebtIQ will reduce the payment amount made through the Automatic Minimum Payments feature.

For example, if we are aware that your monthly card minimum payment is $200 and we become aware you have made a $50 payment inside or outside of DebtIQ prior to transmitting your Automatic Minimum Payments, then the amount paid by LendingClub will be $150. If we are aware that your monthly card minimum payment is $200, and we become aware that your monthly card minimum payment has been paid in full, we will not trigger an Automatic Minimum Payment. If you do not have sufficient funds in your Payment Account to cover the full minimum payment due (considering any other payments you may have made as described below), we will not initiate a payment through the Automatic Minimum Payments feature and we will notify you to pay the card yourself. If you have multiple cards with the same payment due date, and you have sufficient funds to pay one or more of the cards but not all of them, then we may initiate payments to some but not all of the cards and we will notify you about any cards for which you do not have sufficient funds to cover the minimum payment.

We may set a maximum dollar amount for payment or other restrictions if we reasonably believe restrictions are necessary or advisable for security reasons or to prevent misuse, fraud or an illegal act.

In the event that we make an error in processing a payment or approve a Late Fee Protection claim, you also authorize us to correct the error or credit the late fee amount by initiating a credit or debit to or from your Payment Account in the amount of such error or claim on or after the date such error occurs or claim is approved. See the DebtIQ Terms of Use for additional information related to Late Fee Protection for Linked Cards using the Automatic Minimum Payments feature.

Authorization

By checking the box and clicking the button to save your Automatic Minimum Payment settings, you agree to the terms of this agreement and have requested enrollment in the Automatic Minimum Payment Protection feature. You understand that the amount of the payment may vary from month to month. The minimum payment due is provided on the applicable monthly Linked Card statement, but the actual amount we debit may be less than the minimum payment due shown on your Linked Card statement as described above.

This authorization to debit your Payment Account is to remain in full force and effect until LendingClub has received notification of termination of the Automatic Minimum Payments feature by unenrolling in the feature in DebtIQ or by calling us at 844.880.5798 and requesting unenrollment in the Automatic Minimum Payments feature. Such update must be made at least four business days before your next payment due date. You may cancel an individual payment as provided in the DebtIQ Terms of Use.

Please print a copy of this agreement for your records. Please see the Deposit Account Agreement for additional information relating to preauthorized transfers and other electronic funds transfers.