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We prioritize lower interest rate providers.
We prioritize those who do not penalize checking your rate or have prepayment penalties.
We prioritize those that are customer experience focused. We measure this by the reviews on more unbiased review sites.
You got an offer from Sparks Lending or United Club Lending via a mailer or a social media ad, which pitches itself as America's #1 Debt Consolidation Lender. It states that since 2020, it's been creating debt free lives. The ad shows Sparks Lending, and I found a couple of things interesting about the website.
If you are unfamiliar with Sparks Lending, I would suggest to potentially read my Sparks Lending article.
In this article, we will cover what I found on United Club Lending and the reviews I found.
What is this company?
Firstly, I had never heard of United Club Lending, given that its stated that it's been around since 2020. Wayback machine (which shows history of websites sraped) shows that the first website scrape was from August, 2023.
Additionally, this company's home page pitches loans up to $150,000 at rates starting between 2-3%. I have not found a lender that would lend an unsecured loan at such a low rate considering the federal funds rate is over 5%, and that is the percentage that banks loan to other banks. Why on earth would a lender lend to someone at a lower rate than banks lend to other banks?
In addition, what I found most interesting about the website itself is that the terms at the bottom reads much more like a debt relief program than a debt consolidation loan, so that makes me wonder if they even provide referals to lenders after all or whether it's just another debt consolidation / debt relief company.
Debt relief may be a good option, but it's helpful to know that you are applying for debt relief, not thinking that you are getting a debt consolidation loan. Also, debt relief companies have many pros and cons and costs, so we built a free debt relief cost and pros and cons calculator below that will provide a cost estimate per month and also the pros and cons of debt relief.
If you are looking for a loan, we have 2 debt consolidation loan options that we like that do not affect your credit score when checking rate and do not charge prepayment penalties.
In addition, I was looking through United Club Lending's contact page from web machine, and found reference to Horizon's Lending, which I also covered in a different article.
So, at this point, I am not sure what to make of this company and how it works and operates. That said, let's look at the reviews that I found.
BBB Reviews
I could not find any BBB website for United Club Lending. I found a site with a similar name, but it had a different address than the one listed above.
Reddit
I like to see what other people are saying on Reddit, and I could not find any chatter about United Club Lending. My searches only seemed to bring up United Airlines type results.
Should You Apply for United Club Lending Debt Consolidation?
From my review, it's unclear what services United Club Lending actually provides. Does it provide referrals to lenders that will actually lend you money at the quoted APRs starting at 2-3% or does it provide referrals to debt consolidation / debt relief services or does it provide both?
Yes
No