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Why go to several different lending companies to get the financing you need when you could just go to LendingTree and get everything on your list? Simply giving the public applications they can fill out to get financing is one thing. Teaching them how to make informed decisions, even if these decisions go against your business, is something else entirely. LendingTree should be commended for having the integrity to not only want to give the public financing, but to teach them how to fix their financial lives as well. That’s what looking after the best interests of your customers looks like.
LendingTree is like the Walmart of financing options. They have an ample amount of loan options, but they also round out their portfolio with helpful additional services. Their homepage has layout issues when it’s in any other format than a full sized window. The information that’s provided on their homepage more than makes up for this minor issue though. A good indicator of the value of a lending company is how many loans they have given since they opened their doors. To showcase their accomplishments, they state on their front page “LendingTree has facilitated more than 55 million loan requests and accounts for $251 billion in closed loan transactions.”
Home Loans
The wonderful people who work for LendingTree realize that home loans are complex arrangements. Instead of just directing their customers to places where they can apply for loans, they display an ample amount of information about every type of loan and provide calculators to help people crunch the numbers. They do not make any promises that one person has the ability to get whatever loan they want. Their focus is on lowering expectations and teaching their customers the best way to set themselves up for a productive financial future.
Auto Loans
Buying a car gives people all sort of fits. The average car buyer focuses too much on the car they want and loses sight of the car they need. We all have our dream car in mind; however, we lack the financial credentials to get it. Securing the right kind of financing is important because it allows for people to enjoy their time as a car owner. LendingTree lays out everything under the sun in the hopes of giving them the tools to make an informed decision.
Personal Loans
Potential lendees get in more trouble with personal loans than any other kind of financing. They go into their lending institution of choice with very little information in hand. Somehow they’re able to fudge the numbers on their application forms, receiving a loan they do not deserve or can afford in the process. LendingTree understands this phenomenon and does their best to keep potential lendees from getting themselves into trouble. After looking at everything they put on their website, it’s hard to imagine that somehow would be able to come away without some sort of financing.
Business Loans
Running a business is one of the most challenging things imaginable. You have to juggle all sorts of expenses and make ends meet, even if the realities of your current revenue make it difficult to balance your budget. Signing up for a business loan is like applying for a personal loan, except the stakes are much higher. LendingTree wants to make sure that every business owner has a sense of how they will balance their loan total with the money they have coming in. They want their business loans to help the businesses they serve, not hinder them.
Student Loans
Out of all the things university students encounter in their travels, student loans seem to be the thing they complain about the most. Costs associated with obtaining a higher education are high and they keep growing with each passing year. Once a student is done getting their degree, they have a great deal of debt that takes them forever to pay off. LendingTree gives students alternatives to the federally subsidized loans that have become commonplace. One big thing that separates LendingTree’s student loans from the regular options is the large pool of students who are eligible to receive them.
Credit Cards
LendingTree’s credit card section is the place where they make their one and only mistake. Rather than look up their customers’ credit scores for them, they ask that their customers report their credit score themselves. This option opens potential lendees up to all sorts of problems. Not everyone has an idea of where their credit score stands right now. Failure to provide the right credit score would likely result in the distribution of credit cards to people who don't deserve them. LendingTree needs to implement a more accurate system that more accurately assesses their customers’ ability to get a credit card.
Free Credit Score
Services that claim to offer free credit scores always have some sort of catch that keeps people from actually accessing their score for free. LendingTree doesn’t believe in putting obstacles in the way of their customers. A person’s credit score is the ultimate determining factor when they’re trying to get certain types of financing. A credit score that has seen better days will leave a person on the outside looking in. Whether or not LendingTree also provides a credit report is unclear. Credit reports are important because they give potential lendees an explanation as to why their credit score is where it currently stands.
Privacy and Security
We had no problem finding the privacy policy for LendingTree; however, it’s doubtful that anyone is going to want to read it. When you post a document as important as a privacy policy, you will want to make sure that it’s written in a way that everyone can understand. They also do not clearly state how you can opt out of their information sharing activities.
Financial companies have the obligation to secure the information they receive. Luckily, their security policy is much easier to read than their privacy policy. In this document, you’re given wordy details about how LendingTree secures their webpages and encrypts their information.
Phone: 1-800-813-4620
Monday to Thursday: 8 am to 9 pm EST
Friday: 8 am to 8 pm
Saturday: 10 am to 7 pm
Social media: YouTube, Twitter, Facebook, Pinterest, Instagram, Google+
Facebook: https://www.facebook.com/LendingTree
Our editorial staff evaluates products and services independently, but Best Review Guide may earn money when you click on links. Read our advertising disclosure.