Happen Bank (formerly LendingClub) review
LendingClub's new name: a bank with a soft-pull rate check, joint applications and direct payment to creditors. Borrowers who want to apply with a co-borrower or have a consolidation loan paid straight to their creditors. We rank it #4 of 10 in our personal loans comparison, with an editorial score of 8.8 out of 10.
Happen Bank scores well on Rate-check experience because its site says checking your rate is a soft inquiry and a hard inquiry appears only if a loan is issued, and on Borrower flexibility for joint applications and direct payment to creditors. It also does well on Eligibility clarity for stating who can apply and that it accepts applications from all US states and Washington, D.C. It scores lower on Cost transparency because most loans include an origination fee deducted from the funds.
Visit site (Happen Bank (formerly LendingClub), opens in a new tab)Quick facts
Overview
LendingClub now operates under the name Happen Bank; its site describes itself as "Happen Bank, formerly LendingClub", and lendingclub.com redirects there. It offers personal loans online, and its site says checking your rate uses a soft credit pull, with a hard inquiry appearing on your credit report only if and when a loan is issued.
Happen Bank accepts joint applications and, for balance transfer and consolidation loans, can pay your creditors directly. Its site says applicants must be US citizens or residents, at least 18, with a verifiable bank account, and that it accepts applications from all US states and Washington, D.C.
As published on Happen Bank's site in November 2026, APRs range from 5.96% to 35.99% including the origination fee, most origination fees range from 0% to 8%, loan amounts range from $1,000 to $75,000 and terms run from 24 to 84 months; rates change, check your rate on the lender's site.
Pros and cons
Pros
- Co-borrower option for joint applications
- Direct creditor payment for consolidation
- Clear statement of who can apply
- Publishes a worked example of loan costs
Cons
- Most loans include an origination fee
- Fee is deducted from the funds you receive
- Fewer published hardship details than the leaders
Key features
- Soft-pull rate check; hard inquiry only if a loan is issued
- Joint applications accepted
- Direct payment to creditors for balance transfer loans
- Operates as a bank (Happen Bank, N.A.)
- Published representative loan example
Who Happen Bank (formerly LendingClub) is for
A good fit if
Borrowers who want to apply with a co-borrower or have a consolidation loan paid straight to their creditors.
Look elsewhere if
Anyone who wants to avoid origination fees.
How we scored Happen Bank (formerly LendingClub)
Happen Bank scores well on Rate-check experience because its site says checking your rate is a soft inquiry and a hard inquiry appears only if a loan is issued, and on Borrower flexibility for joint applications and direct payment to creditors. It also does well on Eligibility clarity for stating who can apply and that it accepts applications from all US states and Washington, D.C. It scores lower on Cost transparency because most loans include an origination fee deducted from the funds.
Our personal loans score weighs cost transparency (25%), rate-check experience (25%), borrower flexibility (20%), customer protection & hardship options (20%), eligibility clarity (10%). See the methodology.
Happen Bank (formerly LendingClub) alternatives
-
#1
SoFi
Best overallOnline bank with a soft-pull rate check, autopay discount, co-borrower option and published unemployment protection.
- Soft-pull rate check before you apply
- Autopay and member rate discounts (check current terms)
- Unemployment Protection Program (check eligibility)
- Co-borrower applications accepted
-
#2
PenFed Credit Union
Best for no origination feeFederal credit union with a soft-pull rate check, no origination fee and an autopay discount.
- Soft-pull rate check before you apply
- No origination fee, early payoff fee or balance transfer fee
- Rate discount for autopay set up before funding (check current terms)
- Loans for debt consolidation, home improvement and personal use
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#3
Upgrade
Best for debt consolidationOnline lender with a soft-pull rate check and direct payment to creditors for debt consolidation.
- Soft-pull rate check before you apply
- Option to pay creditors directly for debt consolidation
- Joint applications accepted
- Discounts for autopay, direct payoff and secured options (check current terms)
Head-to-head
Happen Bank (formerly LendingClub) FAQ
Is LendingClub now Happen Bank?
Yes. Its site calls itself Happen Bank, formerly LendingClub, and lendingclub.com redirects to happen.com. Personal loans are provided by Happen Bank, N.A.
Can I apply for a Happen Bank loan with a co-borrower?
Yes. Happen Bank accepts joint applications, and its site says applying with another person can help some borrowers qualify for a better rate or larger amount. Approval is not guaranteed.
Does Happen Bank charge an origination fee?
Most loans include an origination fee that is deducted from the loan amount, and its site says the fee is disclosed at the time of application. Your offer shows the fee and APR. Check the current terms on Happen Bank's site.
Sources and fact check
We checked the facts on this page against Happen Bank (formerly LendingClub)'s own website on . Published ranges are quoted as shown on the provider's site on November 14, 2026; they change, so check the current figures before you apply.