LendingTree Reviews: Is It Legit or Just a Hassle? Full Guide
When I first heard about LendingTree, I was curious. The idea of one place where I could compare loan options sounded great, but I wanted to make sure it was legit. In this post, I’ll share my thoughts on LendingTree, including my experience with the platform, what other users say, and some alternative options if you're looking for other ways to compare loans. What is LendingTree? LendingTree is a popular online marketplace that helps you compare different financial products, including personal loans, home loans, auto loans, and even credit cards. Instead of going to a bunch of banks and lenders individually, LendingTree allows you to see what different providers are offering, all in one place. The platform has been around since 1996, so it has a long history in the industry, and it’s pretty well-known for helping people find competitive rates. Is LendingTree Legit? One of the biggest questions people ask about LendingTree is, “Is it legit?” From my experience and research, yes—it is legit. LendingTree is not a lender itself; instead, it acts as a marketplace. This means they don’t actually loan you the money. Instead, they connect you with banks and lenders who do. LendingTree also has strong security measures in place, and they’re accredited by the Better Business Bureau (BBB) with an A+ rating. Plus, they have millions of users, which adds to their credibility. That said, there are some things to be aware of. LendingTree’s business model is based on sharing your information with lenders who might offer you a loan. This means you may receive a lot of calls or emails from lenders after using the platform. Some people find this part of the process annoying, and I understand why—it can feel overwhelming if you suddenly start receiving multiple offers from different places. My 6 Months of Experience with LendingTree When I tried LendingTree, I wanted to see if I could get a better rate on a personal loan. The application process was straightforward and didn’t take long. I entered some basic information about myself, and LendingTree quickly matched me with a list of potential lenders. Each lender had different terms and rates, so it was helpful to have all the information laid out in one place.