Any company that wants to do well and having a good reputation with the Better Business Bureau (BBB) is a great way to accomplish this. For companies like Lending Club that handles your money in an online format it is even more important for their standing with the Better Business Bureau to be positive. Thankfully the Lending Club BBB ratings are very positive and speak to their trustworthiness.
Currently Lending Club enjoys an “A” rating from the Better Business Bureau. For any company or anything in general being rated “A” is a very good thing although there are always going to be the people out there that will wonder why they are not rated as “A+”. Let’s take a look at a couple of the reasons that are keeping Lending Club from achieving that “A+” rating.
The first thing that is working against Lending Club’s BBB rating is the fact that they have only been in business for about five years. While this might seem like a long time to some of you it is actually not that long at all when talking about a business. This is also not actually something that Lending Club has done wrong either, it is just something that they will need to wait on as only time will improve this part of their score.
Another thing that is working against them is the fact that they have had 9 complaints against them in the past nine years. What we must understand though is that no business can please all of the people all of the time and that it is inevitable that there will be some unhappy customers here and there. In all actuality these nine complaints though are actually positively affecting their BBB rating as all nine of the complaints have since been resolved. The Better Business Bureau understands the fact that businesses can’t always please everyone so they give special consideration to those companies that are able to properly manage their customer’s complaints. Nine complaints is also not a disproportionate amount for a business of their size so these complaints do not do too much to hurt their overall reputation.
With the Better Business Bureau backing Lending Club as a certified member and with an “A” rating no less there should really be no qualms as to whether not they are actually a legit company. The Better Business Bureau has become the standard in how we judge companies and their reputation and it is extremely rare that a shady company is able to slip through the cracks and make their way into being a BBB-certified company. Even in the rare event that that does happen, they usually do not stay there very long at all once the Better Business Bureau starts receiving complaints about them. This is exactly why you should check out the Lending Club BBB page and see for yourself just how trustworthy of a company they are.