When it comes to the internet and your money the word scam is one that we hear all too often. It is only natural as there are definitely a lot of people out there on the internet trying to separate you from your hard earned money but Lending Club is not a scam. The anonymity of the internet allows people to be much more daring in their deceitfulness and people need to be much more cautious about the way in which they use their money on the internet. Often just hearing the words “internet” and “money” is enough to get people concerned. This is too bad because there are a lot of really honest companies out there like Lending Club that don’t deserve this negative reputation. With so many scams out there we want everyone to know that Lending Club is NOT a scam.
Before going any further we first want to say that we fully understand your concern about handing over your money to just anyone online. It is good of you to be doing your research before investing in anything but especially in the online world. We could tell you all day long that there’s not a Lending Club Scam but it won’t be until you do the research for yourself that you will fully come to the realization that Lending Club is totally legit.
Lending Club is still a relatively new company although they do have 5 years under their belt already. We can’t think of any company that is actively scamming people that has been in business for 5 years consecutively. It usually doesn’t take that long for a deceitful business to be caught and have legal action taken against them. A 5 year run, despite being a short amount of time in the business world is still a relatively good indicator that the company is running an honest business.
If that sort of thing is not proof enough for you then you should go straight over and check out Lending Club’s status with the Better Business Bureau. The Better Business Bureau, better known as the BBB is the industry standard in quality control among businesses and companies all over the country. Lending Cub currently enjoys an “A” rating with the BBB and the only thing that they were able to be faulted for was their relatively short amount of time in business. This is a stage that all new businesses will have to go through though and is not of any fault on the part of Lending Club. They will just have to wait a while for that to go away once they have been operating for a much longer period of time.
Another great way to check up on Lending Club’s reputation is to simply read about other people’s experiences with them. One huge advantage of the internet is that you can find almost anything you need and everyone is given the opportunity to have a voice on the internet. It should not be hard at all for you to track down people that are willing to share their experiences with Lending Club and it won’t be long before you realize that just about all of the reports are positive. Happy customers are a great way to verify whether a business is legit or not and Lending Club definitely has a huge base of happy customers.
The fact that Lending Club’s numbers are growing too is a great indicator that Lending Club is not a scam. While it could be argued that a good scam will be able to take on new customers all the time, even the best scams will have an extremely hard time trying to keep customers around for repeat business. With all of the information and sources online to find info about people who have been using Lending Club to their advantage for years and the ones who have figured out the best tips and secrets for using Lending Club, you can use that evidence to rule out a scam here.
There are a lot of people out there that say that there’s a Lending Club scam because it is banned in some states although there is a lot of false information contained in that last sentence. Lending Club is not banned anywhere and even if it was that doesn’t necessarily make it a scam. The reason that Lending Club is not allowed in every state is because each state has a different interpretation on exactly how laws and investments should be carried out. Since Lending Club operates as an atypical peer to peer trading platform it does not always fit within the way some states view things. This doesn’t in any way make Lending Club unethical, it just means that these laws were written before peer to peer trading platforms like Lending Club emerged as a viable method for investments. Next time someone tries to tell you that Lending Club is a scam because it is banned in their state you can go right ahead and give them that little bit of information to think about for a bit and see what they have to say.
In the end we totally understand everyone’s concern when talking about Lending Club and whether it is a scam or not. It is a perfectly valid concern as it is your money and you of course don’t want to give it away to just anybody. Having used Lending Club for ourselves though and knowing that it works and being fully aware of their legit status in the business world we wanted to make sure that everyone is able to look at their company from a fair and unbiased perspective. Scams are abound on the internet and we would never wish that someone would be taken for a ride by a dishonest internet scammer. At the same time though we would never wish that a person miss out on a great opportunity from an honest company like Lending Club by thinking it was a scam before they had their facts straight. Rest assured, there is no Lending Club Scam.