BORROW

INVEST

BALANCE TRANSFER LOAN

Take control of your debt

$ Amount

Loan Purpose

Won't impact your credit score.

Save Money

Many balance transfer members receive lower rates, and can save nearly $1,000 over the course of their loan.^*

Save Time

Hassle-free direct payment to third-party creditors – you choose how much each receives.

Improve Your Credit

Many members see their credit scores go up after taking out a balance transfer loan.^*

What the LendingClub community is saying

A Brighter Tomorrow

My wife and I got in a little over our heads on one credit card to the tune of $16K. LendingClub has helped us tremendously. We are getting out of the burdensome percentage rate on our credit card and giving our family a brighter, less stressful tomorrow.

– David, a member from Washington

Consolidate Debt, Save Money

LendingClub is a great way to pay off high interest credit cards and consolidate all your debt into one payment. You actually save money every month and pay the balance off way faster!

– Alex, a member from Minnesota

Saving $300 a Month

You have given me the ability to sleep at night. I applied for a loan that allowed me to pay off my high interest credit card debt. I now have only one payment and it’s saving me $300 a month.^*

– Anna, a member from Texas

60 Billion +

Borrowed

3 Million +

Customers

Average Customer Rating

What is a balance transfer loan?

A balance transfer loan from LendingClub Bank makes debt consolidation easier by offering direct payment to third-party lenders, including over 1,700 creditors. Not only do we take care of payments for you, you can choose exactly how much of your new loan amount you want us to pay toward each creditor. Any remaining loan funds are deposited into your bank account.

How it works

Apply anytime, from anywhere. Your money will go straight to your creditors.

Apply in minutes

Tell us how much you’d like to borrow and a bit about yourself.

Select your balance transfer loan

A balance transfer loan can increase your credit score.^*

Payment straight to your creditors

Decide who you’d like to pay and how much. We accept over 1,700 creditors.

Money transferred directly to you

Any remaining funds from your loan will be deposited into your bank account.

More questions? We’ve got answers. Read our FAQ about direct payments.

Pay Your Debt

Learn more about balance transfers

Balance Transfer Loans vs. Cards

Balance transfer FAQ

How does a balance transfer loan differ from a balance transfer credit card?

Unlike nearly all balance transfer credit cards, balance transfer loans from LendingClub Bank have fixed terms. As a result, your APR, monthly payment, and loan amount will never change. And since it’s not revolving debt, you’ll have a clear payoff date and a path toward financial stability from the moment you take out your loan.
Which creditors can you pay with a balance transfer loan?

We work with a partner network of over 1,700 credit card, bank, and loan companies. As you complete your balance transfer application, you can add your creditors to see whether they’re accepted. You can add up to 12 creditors or accounts per loan.
What’s the difference between a cash loan and a balance transfer loan?

With a balance transfer loan from LendingClub Bank, you designate a portion of your loan for direct payment by us to your creditors, making it easy to pay down high-interest credit card and other debt. Any remaining loan funds are deposited into your bank account.
On non-balance transfer personal loans, (or "cash" loans), your entire loan amount is deposited into your bank account. While this may offer flexibility in how your funds are used, it also means you’re responsible for paying all creditors yourself – the way you intended to when you took out your loan. With a balance transfer loan, we handle this part for you.

Visit Our Help Center

Head to our Help Center to learn more about balance transfer loans.

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BALANCE TRANSFER LOAN

Take control of your debt

What the LendingClub community is saying

What is a balance transfer loan?

How it works

Learn more about balance transfers

More questions? We’ve got answers.

How does a balance transfer loan differ from a balance transfer credit card?

Which creditors can you pay with a balance transfer loan?

What’s the difference between a cash loan and a balance transfer loan?