Beware Of Scammers Posing As Lending Club Reps


Back on February 11th, Lending Club posted an article to the company’s blog discussing online scams. The post is entitled “How to Protect Yourself from Online Scams and Swindles.

In it, Lending Club points out that there are individuals out there using the Lending Club brand in an effort scam people. They provide the following list of things to watch for:

  • Remember that it is very uncommon for a lender to guarantee that you will receive a loan before you apply, or before they have checked out your credit status, especially if you have bad credit or no credit history at all.
  • Don’t pay money for the “promise” of a loan. Ignore any advertisement or hang up on any cold caller who “guarantees” a loan in exchange for a fee paid in advance.
  • Beware of anyone who pressures you to “act immediately” by sending money or personal information.
  • Never send money, whether by pre-paid debit card, wire or money orders prior to receiving the actual proceeds of the loan. Most lenders won’t ask you to send funds in advance, and you will have little to no recourse through these methods.
  • If you are not absolutely sure who you are dealing with, get the company’s contact information in the phone book or from directory assistance, and call them to make sure you’re dealing with the company you think you’re dealing with. And if they have an online presence, check there too. In the past, some scam artists have pretended to be the Better Business Bureau or another legitimate organization; on- or offline, you should always make sure you are dealing with a reputable party before you give out sensitive financial information.
  • Protect yourself by making sure the website where you apply is secure – look for the “s” in

ripoff reportYesterday a new entry on RipoffReport details how a scammer may use the Lending Club brand to swindle people out of their hard-earned cash.

I recieved [sic] a voicemail saying that my loan was approved. I had been searching and searching for a loan and always denied so naturally I was optimistic about this. I called the number back first thing in the morning, all of my information was verified without me having to say a word so of course I believed that they were legit because I had been applying for loans all week and it was no surprise they had my information. The guy told me I have bad credit so I need to “verify” I had the monthly payment in my account right now. I asked how so he said to get a Vanilla Reload Prepaid Card and load $200 onto the card. Like a person in desperate need of a loan I did.

As you can imagine from the excerpt above, the story doesn’t end well for the victim. In the end, the victim was out $200, but it could have been worse. The scammer actually pressed for more money via Western Union, but the victim caught wind of what was happening before that situation could play out.

The moral of the story: if you want a Lending Club loan, use the Lending Club web site and don’t get greedy if you’re rejected. Use caution if contacted via phone, and look for the “s” in “https://” to indicate a secure connection.

Sponsored Links by DQ Promote

  • mertentr

    They called me several times yesterday from +1 (408) 692-1047. They offered me a $2000 loan. They had all of my personal info. They said they’d call me back and didn’t. When I tried calling them they wouldn’t answer. I *67 them and they answered. When I called them out he very quickly said I’m sorry goodbye and hung up. These people are scum

  • James Toran

    Looks like Lending Club is aware of the Vanilla Reload scam issue. I just read this on their blog

    It doesn’t mention Vanilla Reload prepaid cards or Greendot cards specifically but does warn:

    “Unscrupulous companies will often ask for money up front, or attempt
    commit identity theft by requesting personal information under the guise
    of providing a loan; legitimate lenders won’t.”

  • Dexter Douglas

    Received pre-approval for $20K but had to verify my financial ability to repay by sending a Vanilla Reload prepaid card with $500 on it.

  • Tom Schumacher

    I received a call from Lending Club requesting a Vanilla Reload card­ to process
    my loan, but called Lending Club to verify that this was a scam before completing the transaction.

  • James Toran

    Thanks for posting. I got a VM the other day saying my Lending Club loan was approved but I needed to send a Greendot card with $100 as collateral. I guess it’s a slightly different take on the same scam.

    Fortunately I know Lending Club is a legitimate company and wouldn’t ask me to “send a Greendot card with $100 on it today” as part of the process but I can see if you were desperate for a loan you might fall for it.

  • Pingback: Beware Of P2P Scammers | Emerald Direct Lending...()

  • Pingback: Beware Of P2P Scammers | The Lending Club P2P L...()

  • Pingback: Beware Of P2P Scammers | Prosper P2P Lending | ...()

  • Pingback: Beware Of Scammers Posing As Lending Club Reps ...()