Is My Instant Offer A Scam?- Get The Answers In My Review!

Is My Instant Offer (Lending Club) a Scam?

My Instant Offer/Lending Club a Quick Overview

Name: My Instant Offer

Website: (

Owner: Scott Sanborn

Overall Rating: 7.7 Out of 10

Verdict: Legitimate, Be Aware of Online Loan Scam Using Lending Club’s Name


There has been a lot of noise about My Instant Offer. And you must have been approached by a marketer or got some information on the social media about this company.


The company claims that it connects the borrower to the investors and offers a fixed-rate loan up to $40,000 for the applicant that qualifies.


Some say it’s legit while others call it a scam. Can My Instant Offer be another Scam?


Within this review, I will be showing you whether this lending network could help you loan money or if you better off exploring other option to make money online.


What Is My Instant Offer (Lending Club) All About?

My Instant Offer (Lending Club) is one of the online loan services that are gaining popularity today, especially when it’s coming from a lender that offers you a very low-interest-rate compared to the higher interest rate of the most financial institution.


The company was founded by Scott Sanborn in October 2006 and is headquartered in San Francisco, California. Lending Club is one of the first peer-to-peer (P2P) lending company that registered their offering as Securities with the Securities and Exchange Commission (SEC), and offering loan trading on Secondary Market.


They have been since 2006 and funded tens of millions of loans. They enable borrowers to obtain a loan and investors to purchase notes backed by payments made on loan.


Here’s a Quick Video on Lending Club.



The loans are provided by WebBank which controls the peer to peer lending. The credit and interest are determined by the amount you are loaned. The interest rates on Lending Club range from 6% to 36% depending on the qualification of the borrower.


I like this Peer to Peer lending site because most banks would not even offer options for people with bad credit so they offer options to a wide range of people.


They very similar to other Peer to Peer lending networks such as Prosper, Lending Tree, Quicken Loan, Lowermybills, and others. However, Lending Club is one of the most established and well-known P2P lending sites. Perhaps, it is also the largest P2P lending company in the industry.


In term of investing in a Lending Club loan, you will want to focus more on the lower risk borrowers and stay away from the super high interest rate loans. This can be a good way to start making passive income online.


They are also options for investing 401K or IRA with Lending Club although some restrictions do apply.


At the time of this review, Lending Club has the A- rating on the Better Business Bureau. BBB ranks companies on F to A+ scale, Lending Club rank is an excellent rating. Receiving an A- from Better Business Bureau is a sign of a very trustworthy company.


However, on April 25, 2018, the Federal Trade Commission (FTC) filed a complaint against LeadingClub. The case is currently pending. Click Here for details.


My Instant Offer Loan Can be used for

The loan amount allowed on their sites is between 2000 and 4000. You can use a personal loan for a number of things including:

  • To pay for the high interest of your credit card.
  • Home Repairs.
  • You can get the loan for vacation.
  • You can obtain the loan to buy a car.
  • You can get the loan for part payment for a house.
  • Medical expenses.
  • Your school fees.

Lending Club personal loans are using for

They offer loans for both prime and subprime borrowers which is a bit different from most lenders. The terms of the loans are typically 3-5 years and they offer some flexibility with no pre-payment penalty.


If you are desperately in need of money in the future and don’t want to go through the long process of banks, My Instant Offer is here to help you out as long as it’s not beyond $40,000.


The Qualification Process

Once your application is approved you will be directed to a particular portal of the Then you will be required to enter the amount you need, the purpose of the loan, and your credit score.


They will also need your personal details to proceed with the qualification step.

  • Your Home Address.
  • Date of birth.
  • Email address.
  • Your yearly Income.


You will have to agree to their terms and conditions and the other disclosure agreement.
Once you click on “Get my Rate,” it will process your information and determine whether or not you qualify for a loan.


If you get approved by Lending Club’s underwriters, then your loan will become active on their listing page and people from around US can start investing in the loans and you get funded. Once you are funded, you should get your money in a few day.


Am I qualified For The My Instant Offer Loan?

When you are applying a loan with them, you will need to proof of verifiable income, your credit and reason of borrowing.


You are not entitled to this loan if you have a FICO credit that is below 600, but a higher credit score is also not an automatic qualification.


And they must also be sure that you have a consistent job or wages for you to be considered at all for the loan. Your tax record may be needed to actually know you have a job you are doing at the moment.


This means that your FICO score must be good and you must have a job that is actually earning you money to fund the loan.


If you have a lot of debt already, your application won’t be accepted. The person that can get the loan is the person that is financially responsible.


I will advise you to estimate. It is important for the ideal amount you need and how fast you will be able to pay the money back will always help you to make the right decisions for the healthy financial habit.


What I Like About My Instant Offer

There are a few factors that set this loan network apart from the others.

  • The lending process of My Instant Offer is very clean and it’s legit.
  • Their method of application is super easy and they even accept the joint application.
  • The company has a good rating from the Better Business Bureau (BBB) and they protect how much you are getting from them and your privacy.
  • Their interests are very low and they also have some fixed rate that is the same.
  • They also offer you the opportunity of paying the loan on time to reduce the interest.


What I Don’t Like About My Instant Offer

My Instant Offer does a great job of connecting people who need a loan to people who have extra money to lend. However, not everybody has a good experience.


  • Some loan application is denied. This is the main complaints borrowers have with them.
  • The loan is not available in some states. If you live in Iowa or West Virginia, it can be frustrating because you can not get a loan from them.
  • Too much email and phone calls from them if you fail to make a payment. If you do not make a payment, they will send your loan into collections. As a result, you can sometimes get annoyed by the email and phone call from collectors.
  • They run in with the SEC


Is My Instant Offer The Best Option For You?

If you want to loan money it’s your responsibility to know the lender that is better.


The Loan Term Of My Instant Offer.

Ensure the various terms and conditions to the loan are fully disclose to you. Terms like the repayment period and which method you will be required to pay with.


The Loan Processing Times.

Identify how fast the lender process the loan. Assuming you need Particular money in this week, it will be good to know which lender can loan you the money within this time frame.


Make A Comparison of My Instant Offer with other Loan Network.

You do a thorough check of the different network that offers loan we have out there. You can check for their comments and other things that that will inform you about the company.


Here Is What I Really Think

If you want a loan that is not more than $40,000 with a very low-interest rate, then My Instant Offer will be the right choice for you. You are only qualified for the loan if you have a good FICO score and have a job or consistent wages.


In my own opinion, My Instant Offer is not a scam and it’s a network that offers people a loan at a very good interest rate. This might just be the network that you will need to pay for your debt and every other expense at a very attractive interest rate.


Overall, I would recommend Lending Club. They offer flexible funding at a pretty good interest rate considering a bank would almost never lend you cash.


Do you happen to have any previous experience with this company that you would like to share with everyone else here today? If you do so, tell me all about it in the comment box below!


Thanks for reading.

All the best!


Looking for solutions for your money?About aun

I joined Wealthy Affiliate in 2016 with zero knowledge about making money online and within a few months, I started making money online.

Within 18 months of joining WA, I was able to work full time from home and have quality time with my family. Wealthy Affiliate is the real deal and works! Get started for free and you’ll a free website, free hosting, free resources, and a ton of free training to help you make money online.

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My Instant Offer at a Glance…

Name: My Instant Offer/Lending Club

Owner: Scott Sanborn


Overall Scam Rank: 7.7 Out of 10

Verdict: Legit, Be Aware of Online Loan Scam Using Their Name

My Instant Offer






Overall Quality



  • The lending process is very clean and legit.
  • Their application process is super easy and accept joint application.
  • Very low interest rate.


  • Some loan is denied.
  • The loan is not available in some states.
  • Too much email and phone calls from them if you fail to make a payment.

28 thoughts on “Is My Instant Offer A Scam?- Get The Answers In My Review!”

  1. Peer to peer lending? I’d never heard of that before, but it makes sense, especially if the interest rates are lower than the traditional lenders. Fair enough if they hassle you for being late, I guess they have to be onto it quickly so it doesn’t get out of hand. Do you know if this, or something similar, is available in Australia?

    • Hi Angela,

      Thanks you are here!
      Sure P2P lending is a good place for quick money.

      Last a few year ago, I had tried all of the banks here in my hometown, almost 2 or 3 times for every bank to transfer my first mortgage. It takes me almost 5 years to get a home loan.

      There are a plenty of Peer to peer in Australia like SocietyOne, Ratesetter, and more. But make sure you do the research and see other comments.

  2. I had never heard of them before, but you gave a very honest review of them and it seems like a good choice for those who want to consolidate debt, or maybe do some house repairs. I think it is fair to hassle someone that is not making their payments. I would think this would be a great way for those to build up credit. Great information!

    • Hi MattysMom,
      Thanks. You are here and leaving a comment!
      Definitely true if you need urgent money and don’t want to go with traditional financial institution. But make sure to read other review as well.
      Last a few year ago, to receive the answer capital “NO” (my loan application wasn’t qualify) from a bank, It took me 6 months. I was almost to duplicate my headache.
      BTW, thank for stopping by!
      All the best!

  3. iam down to my last few months of a 3 year loan had no problems because i paid on time if needed will definetly use them again

    • Hi Robert,
      First of all, thanks for stopping by and share your positive experience with My Instant Offer with us. We are glad to hear about it. In my opinion, personal loans are definitely a good way for urgent money.

      Last week, I looked for a personal loan from a few traditional financial institutions and weren’t get it anywhere. I went online and got it from one of online lender. I got a little high-interest rate, but worth it.
      BTW, thank again for sharing.
      Wish you all the best!

  4. After reading these reviews , I decided to apply for the pre-approved loan offer , still waiting for the email confirmation they said they had already sent , its been 3 hours so I asked for another confirmation email but it has not arrived as yet. Should I be concerned ? I was given a loan number , if that means anything

    • Hi Terry,
      First of all, thank for stopping by!
      You don’t need to worry, but you should check your emails. Sometimes this can happen and I experience before. You should log out your email and log in to check it again. Make sure you also check your spams. If you still don’t get an email confirmation, you should contact them or make any correction.
      Wish you all the best!

    • Hi Marlene,
      First of all, thanks for stopping by!
      Their interest rates depend on many factors. Their loans interest rate are ranging from 5.32% to 26.30%.
      Wish you all the best!

    • Hi Kenneth,
      Great! I am happy to hear it.
      What is the interest rate? If you comfortable with it, you can go ahead. Make sure you understand their loan terms.
      Wish you all the best!

  5. How I know that this company is not a scam. I have been getting all kind of offers from other lending company, and been turn down. The money I’m asking for can help get back on track, but I keep getting turn down. Are you going to refuse my offer. I need about 15,000 dollars to live comfortably.

    • Hi Albert,
      First of all, thanks for stopping by!
      My Instant Offer isn’t a scam. You can qualify for personal loan if you meet their requirement. If you don’t meet their requirement, you will get very high interest rate. You can try it out and see if they are meeting your needs.
      Wish you all the best!

    • Hi Debbie,
      It could work with an average FICO scores if you have a good employment. You might get the high-interest rate.You can check out if you qualify for a loan on their official website. It takes just a few minutes to get the answer.
      All the best!

  6. You are all idiots, and you Maun are the worst. None of you seem able to write a complete sentence and use correct sentence structure. No one should take out a loan with an interest rate that is variable. Think basis point increases as inflation ramps up. A fixed rate that is above 7% is a red flag. If you are paying off older debt with much higher rates then of course that would be okay. Ask yourself, “will I generate revenue greater than the expenses of borrowing more money?” 99% of you, the answer is “no”. To the person with the poor credit of 603 on the FICO score, you clearly do not manage your finances very well. Do not borrow more money from anyone, not that you would be approved without fees and a rip you off rate way above 10% APR. If you are asking on this site or any other, “do you think they will” or “I just need this much” you are already a moron and victim. In my professional opinion no loan or credit card should exceed 12% interest. Rates above that are generally only seen with organized crime. 400 billion companies like Walmart amass wealth off people making shit to begin with and should not offer so many credit cards and not charge 24%. No one can pay that back and feel good about it.

    • Hi Jackson,
      Thanks for your time for commenting the article and critics.
      I always welcome your critics and suggestion.
      Wish you all the best!

    • Yes, I agree, and its not only Walmart,
      All of the large businessnes will take
      advantage of the light weights, every name
      counts, and they are out for themselves.

  7. I am currently dealing with Lending Club. My problem with them so far is the new Gain Program. Is this a scam? Chase bank has closed my account and banned me from opening up another. No reason no warning just did it.

    • Hi Donna,
      I don’t think, their rewards and Gain Program are the scams, but you will want to be careful with their Terms and Conditions.

  8. My credit score is 596 I’m in need of a bigger house I am a foster parent. My income is really great a month. They ( state) has started my adoption for these two bless souls and I take in kids all month and all year long so we just need a bigger house

    • Hi Martha,
      If you have a good income and employment history, you might get a loan from them. Go to their official website and apply for it. It just takes a few minutes to get the answer.
      Good luck!


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