Lending Point is a fintech lender which delivers a speedy application process, looks well-beyond your credit score when assessing applications, and prides itself on fast turnaround times. The company has been underwriting loans for customers since its launch in 2014.
Most Lending Point reviews emphasize the company’s accommodating policy toward customers with credit scores between 500-700. Lending Point is definitely a good choice if your credit history is less than perfect, because their approval decisions take multiple factors into consideration.
The big advantage of LendingPoint loans is the simple online application and fast processing time. After you enter a few personal and income details, you’ll receive provisional approval along with your estimated rate.
The LendingPoint payment process is flexible, offering payment dates and frequencies that are tailored to suit your needs.
What I Think About The Lending Point
LendingPoint is focused on customers who have average credit, and they also consider applications from people whose credit records are less than perfect. If your credit score is between 300 and 600, you may still have a good chance of being approved if your overall finances are looking good.
The LendingPoint payment terms are definitely a plus. You can choose the dates when your payments will be debited from your bank account and select a payment frequency that suits your income and budget. The options include weekly, twice monthly, and monthly debits.
As a fintech company, it’s no surprise that the LendingPoint portal has streamlined the entire process from application to underwriting, while making the who application effortless as well. The company invests heavily in its technology infrastructure, and the quick processing times and easy access to your loan information via their portal is definitely a positive feature for prospective borrowers.
Lending Point Refinancing Option
If you’re looking to refinance your existing debt, Lending Point loans may be a good choice. With a range of APRs between 10.99%-35.99%, your consolidation loan may come with a significantly lower interest rate when compared with your outstanding loan balance.
While some Lending Point reviews don’t emphasize the refinancing option that the company offers, it’s a great way to save money on your current medical loan repayments. A difference of a few percentage points can save you hundreds of dollars over the term of the loan.
Lending Point Customer Service
LendingPoint customer service is one of the company’s strong points. Their policy of finding reasons to say yes to loan applications seems to extend to all aspects of customer service.
If you have any queries about your loan or would like to take advantage of your one penalty-free loan modification, you can either reach customers service via a Lending Point login using the online portal or speak with a representative by phone on the Lending Point phone number (888 969-0959).
While no loan company can ever satisfy 100% of its customers, the LendingPoint complaints you’ll see online aren’t especially serious. Better yet, the company is good at following up with customers and taking action to improve their experience, focusing their attention on delivering a very satisfying borrower experience.
Lending Point Fees
Loan approval aside, one of the biggest factors to consider when applying for a loan to cover medical expenses are the fees involved. The LendingPoint requirements for loan repayment and fees are as follows:
- An origination fee of 0.00%-6.00%
- A late payment fee of $30 will apply after a 15-day grace period
- No prepayment fees are charged
If you’d like to see a full breakdown of the accompanying fees, you can always visit the company’s website or call the LendingPoint customer service phone number.
