No, checking your rate and applying for a loan through LendingClub won’t affect your credit score. It generates a soft credit inquiry, which we use to understand your creditworthiness. This is visible only to you, not to creditors or other users of your credit report.
If you receive a loan through LendingClub, then a hard credit inquiry that may affect your credit score will appear on your credit report. New loans are factored in your credit score, but over time, they can help you improve your credit by showing you can make on-time monthly payments. Most of our customers report that consolidating debt with a loan through LendingClub improved their FICO score.
If we can’t offer you access to a loan, your credit score will not be impacted. You’ll be able to see the soft credit inquiries, but these won’t be visible to creditors or other users of your credit report. Learn more about the factors that make up your credit score.