MyInstantOffer by Lending Club is widely known especially amongest internet users and people looking into online loan service providers. But publicity alone does not vouch for an online lender’s credibility. Here we take an in depth look at the MyInstantOffer Lending Club to see which factors add up in favor of the online lender and which devalue it to judge if it is a scam or not.
Why People Go for Online Loans?
One of the reasons MyInstantOffer by Lending Club has gained name on the internet is because of the wide-spread utilization of online loan service providers.
With the expanding world of business and technology there is not much that cannot be taken care of over the internet and the world is rapidly going online with almost every need being catered to over the internet. So it was not long before online loans became popular among the people. Some of the reasons why people tend to prefer online loan providers like MyInstantOffer Lending Club over going to a bank are:
- Fast and easy procedure
- Online application
- Payments can be made online via a bank account
- Money transferred directly to bank account on approval
- No lengthy procedure
- Better and competitive interest rates
- Time saving
Keeping in view these advantages people turn to the internet to find the suitable loan offer that best meets their requirement.
How to tell if an Offer is Scam?
In matters concerning money one needs to be completely sure before getting into any commitment with an online lender. There is always a chance the appealing conditions being offered by an online loan provider are just to lure people into a scam meant to snatch their money. So MyInstantOffer Lending Club has come up with certain precautions to warn their consumers to beware of such scammers.
Lending Club will never demand:
- Personal information via email
- Advance fee with the promise of a loan
- Broker fee to facilitate the loan approval
- Downloading of any software via email
- Confirmation of password via email
- Change of password via email
- Credit card or Debit card information via call or email
Keep in view these points while dealing with MyInstantOffer Lending Club can lower the chances of you becoming the next scam victim. While dealing with any online loan service not just MyInstantOffer, you should do the proper research instead of blindly going for a financial commitment that you may regret later.
In certain cases scammers pretend to be the representatives of a reputable online loan service and swindle customers. If you suspect yourself to be in such an event go to the official website of that online loan service and contact their customer support to make sure you are in fact dealing with the legitimate company representative or not.
Some of the things that should get your flags up while dealing with an online loan service provider are as mentioned under:
Scammers tend to target people with poor to non-existent credit score by offering them a considerable sum of money at unbelievably low interest rates. Before going for any loan do your research and check rates being provided by other online lenders. A large disparity in the interest rate should tell you how legitimate a loan service provider is.
Some scammers may try to persuade you into buying a prepaid card that they claim is necessary to proceed with your loan application process. This is not the case with most legitimate online loan providers. So in such cases it is best to stay clear of such loan providers.
- Guaranteed Pre-Approval Loan:
Most legitimate loan providers do not guarantee a loan approval without checking credit score. If an online loan provider promises you a loan without first asking you to fill out an application for loan then it is most likely to be a scam.
What to do in case you are scammed?
- File a Complaint:
You can file a complaint with the IC3 i.e. Internet Crime Complaint Center at: www.ic3.gov
Or even go to your state’s Attorney General and file
your complaint there.
- Contact Customer Support:
You can contact the customer support of the online
service provider you are dealing with and get help from them regarding any
issue you have that may lead you to believe you are being scammed. They will
walk you through the necessary steps and precautions you should take.
The customer support information of MyInstantOffer Lending Club is mentioned below:
Member Support Number: 888-596-3157.
For further details visit the official website: www.lendingclub.com/loans/resource-center
Here you will find the detailed information regarding how to stay safe while dealing with loans at MyInstantOffer Lending Club under the tab “Safety & Privacy”.
MyInstantOffer a Scam or Not?
|In Favor||In Disfavor|
Accredited by BBB.VeriSign Secured.Recognized by The New York Times.Recognized by The Economist.Insured by Equal Housing Lender.||A lawsuit filed by FTC in 2018 but the case is still on-going.Loan not always approved.|
Keeping in view the above factors that work in favor of MyInstantOffer Lending Club it is safe to surmise that MyInstantOffer is a legitimate online loan provider.