MyInstantOffer Personal Loan by Lending Club

Like many new financial platforms, there are a lot of questions as to what MyInstantOffer does exactly and whether it’s a credible platform or not. In this in depth article, we’ll go over the details and review the service for you. If you’re wondering: is MyInstantOffer legit?, you’ll probably find your answer in this guide.

What is MyInstantOffer?

MyInstantOffer is essentially a lending club, otherwise known as a peer to peer lending platform. These peer to peer loans allow loan applicants to receive higher loan amounts with lower interest rates than they could get at a traditional financial institution.

Basically, it helps borrowers connect with investors and peer lenders to apply for a loan instead of trying to go through a bank. It’s also a service that’s pretty much entirely online, from application to approval to disbursement.

While it’s gotten a lot of attention lately, MyInstantOffer isn’t a new institution nor is its parent company. is a portal to its parent company, Lending Club, which has specialized in peer to peer lending networks for many years.

They provide services for both borrowers and investors or lenders. When prospective borrowers take on a loan through MyInstantOffer’s platform, investors are then able to purchase certain notes on the loan that are backed by payments on the loan itself. 

WebBank controls the actual peer to peer lending and then supplies the loan. Borrowers can get lower rates and more flexible loans, which can be used for a variety of purposes.

Most borrowers seek loans from MyInstantOffer for reasons related to home improvement, paying off credit card bills or medical expenses, educational expenses, large purchases, or as a means of debt consolidation.

Is MyInstantOffer Legit?

This is the biggest question most people ask about MyInstantOffer. It’s a valid question that most people will have about any loan service, especially when it’s primarily online and there’s no brick and mortar location to drive up to and no clerk to consult with.

Although many banks offer a strong emphasis on online banking and we’re more connected online than ever before, there’s a hesitation when we’re dealing with money matters.

It’s always smart to check up on any financial service before you use it. You never want to give out personal information without knowing you’re working with a company you can trust. Borrowers are wary and with good reason because of the rise of identity theft and financial scams that prey on prospective borrowers. It can be hard to tell what lending platforms are legit and which are scams with so much conflicting information available.

That’s why we did the research to see if MyInstantOffer is legit. First, know that it’s been deemed both safe to use and credible by both CBS News and The New York Times.

Their parent company, Lending Club, currently maintains an A- rating with the Better Business Bureau. Getting a rating that high with the Better Business Bureau indicates an upstanding company that’s proven trustworthy.

Not only that, the MyInstantOffer reviews are strikingly positive for a lending service. As a matter of fact, you will find that it has 4.8 stars out of 5. MyInstantOffer has also become known for their stringent privacy and security practices that protect borrower information.

You may be wondering:

What’s the take-home point here?

But there’s no need to worry because MyInstantOffer is a legitimate service, not a scam.

Loan Terms

Always make sure the terms of the loan are clearly stated and that you fully understand them before accepting any loan. Make sure you understand the terms and timelines regarding repayment as well as methods you can use to pay.

In addition to the total dollar expense of the loan, make sure you know the APR on your loan and that you understand the different levels of lending. Other things to look for are fees.

Fees can come in all shapes and sizes and as most borrowers know, many lending companies use hidden fees to their advantage against the borrower. Fortunately, MyInstantOffer is known to be very transparent with loan details to borrowers.

They don’t have hidden fees or rising interest rates, which is already a credit to them. While they do still have the typical origination fee that comes with loans, the amount is a percentage of your loan amount.

Most of the time this is around 5%, but it can vary from person to person. Make sure you’re aware of what the total origination fee will be. All loan terms are clearly spelled out and they don’t change on the same loan over time.

That being said, just because a lender is very clear and thorough in their loan terms doesn’t mean you don’t need to take due care. You still need to do due diligence, but in this case, it’ll be easier to understand what you’re agreeing to.

How to Apply for MyInstantOffer

You can apply for MyInstantOffer loans at their website at We’ll walk you through how to apply for MyInstantOffer. Here’s a rundown on their application and the information you’ll need to provide to apply:

First, you’ll need to enter the amount you’d like to request a loan for. The range is quite high as well, so there’s no need to worry. If you’re applying for the loan solo, you’ll need to enter your basic information. These include your name, date of birth and everything else that can be usually found in similar forms.

If you’re applying with a partner, you’ll need to include their information as well. You will need to provide your income information, including wages and any other sources of income such as a pension or annuity.

Do note:

If you are approved for a loan and accept the lender’s offer, you may be requested to provide documents that verify your income sources.

Then, you will need to provide your residential address as well as your email address. These help verify your identity and create your account, respectively.

The last piece of information you need to apply is your social security number or at the least your social security PIN. This might scare potential borrowers, but remember that MyInstantOffer and Lending Club won’t share your information.

After your application is submitted, you must wait for approval. If you’re approved, you will receive offers from lenders, though your personal information isn’t shared with them unless you accept a loan offer.

Once you choose to accept a loan, you’ll go through the necessary paperwork with your lender, specifying the terms and costs of your loan. After that, most borrowers have their loan funds disbursed within about 4 days of completing the necessary documents with the lender.


There is no doubt you’d want to have a better idea about the qualifications to get a loan before you apply. It’s worth noting that both approval and disqualification depend on a few factors.

While not every factor is weighed equally in every case, you can still get a good idea of whether you should apply for a loan or not. You need a steady, reliable source of income to prove that you’ll be able to repay the loan.

That means you must have employment or a very reliable form of incoming money such as pensions, annuities, or a trust that can be proven to be consistent and large enough to enable you to repay the loan.

In some cases, you may need to provide pay stubs, w2 forms, or tax documents to provide verification of your income.

Likewise, if you’ve already accumulated a significant amount of other unpaid debts, you won’t be approved. After all, lenders are looking to serve individuals that will keep their financial commitments.

That doesn’t mean you can’t have any at all. However, if you have multiple unpaid debts and haven’t come to agreements with those companies (so that your credit isn’t affected), it could be the factor that ultimately disqualifies you.

And yes, that does mean even if it hasn’t put a major dent in your credit yet. Lastly, you’ll need a FICO credit score no lower than 600. While having a higher score doesn’t guarantee approval, having a lower score will disqualify you. Code

If you’ve received a RSVP code, or even if you haven’t yet, consider it your ticket to a quicker loan application process. What exactly is the code? It’s not a static promo code you can type in.

Instead, it’s a 12-digit code that you’ll enter when visiting the MyInstantOffer website. From there, you’ll be taken directly to continue your application process.

It doesn’t guarantee that you’ll be approved for a loan if you have circumstances that are in direct conflict with their approval guidelines. For instance, if your credit score has recently dropped below 600, the invitation to apply won’t negate the disqualifying score.

However, if you did receive one and meet the approval guidelines, you have a good chance at getting an expedited approval. When you receive your code, it may also be called a lending club pre approval code. This is attributed to their parent company, Lending Club.

It will still have the same 12-digit format and can be entered on the MyInstantOffer website in the same place. If you haven’t received either invitation code, of course, that doesn’t mean you can’t apply for a loan with them.

You can still apply by visiting their website and clicking to apply for a loan.


What makes MyInstantOffer rise above other lending platforms? It offers a variety of benefits that appeal to borrowers. Here are some of the standout features it provides:


It uses a peer to peer lending system, which allows more borrowers to get a fair loan without having to go through a bank, where they may not qualify.

The online application is quick, uncomplicated and can show applicants quotes almost instantaneously. You never have to step a single foot into a financial institution to apply for and receive your loan. Basically:

It’s quick, easy and overall more inclusive than many other lending services. These are already huge bonuses when anyone who is looking to quickly loan some money.

Better rates

MyInstantOffer gives borrowers more flexibility and lower rates than traditional loan agencies. Because they use investors in a peer to peer network, annual percentage rates tend to be lower and often allow borrowers to reduce interest on their loan by paying early or on time.

You also get the benefit of lower loan fees, which can become very high with other payday loan type services. Loan rates are always settled, so they never go up.

You can prepay

There’s no prepayment penalties or fees if you can make payments ahead of time, or even pay off your entire loan early. This means borrowers can save themselves from paying a significant amount of interest if they pay enough off early.


MyInstantOffer is serious about keeping protective borrowers’ information private. This is often a huge concern for potential borrowers, as loan applications almost always necessitate including detailed personal information like address, date of birth and social security number. 

This company has been verified as a safe, secure venue for prospective borrowers. Your personal information isn’t even shared with lenders unless you accept a loan offer.

Credit check

One of the borrowers’ concerns about applying for loans is how it’ll affect their credit. Nobody wants to see their credit take a hit for a loan they couldn’t even get. That’s why when you apply for a loan through MyInstantOffer, they only do a soft credit check.

That means it won’t lower your credit score, nor will others be able to see that you inquired for the loan.


The only time a hard credit check will be run is if you are approved for a loan and subsequently choose to accept it. This is simply to show a record that you accessed credit.

No hidden fees

You won’t be surprised by hidden fees with MyInstantOffer. All fees and costs are stated clearly and they don’t change. All of the loan information is explained in detail before you accept it and you’ll know exactly what your interest and origination fee will be.


Not every service works for borrowers universally and MyInstantOffer is no different. Here are some of the downsides of this lending platform:

Not every borrower can qualify

Often, borrowers take issue with lending platforms that they can’t get approved for. While MyInstantOffer does offer a wider range of approval than many lenders, not everyone qualifies for a loan or the amount they requested.

Prospective borrowers with credit scores lower than 600, accumulated debt, or that lack steady income may be denied a loan on those grounds. Likewise, a borrower may have a high enough credit score and fair income and be approved for a loan.

However, the lender may only be willing to lend up to a certain amount based on the borrower’s income and credentials.

There’s a processing fee if you’re withdrawing with a check.

You’ll need to choose a method to pay back your loan. Their standard method is automatic withdrawal monthly. You can pay by check if you choose, but that can get pricey. You’ll have to pay a processing fee every time you post a payment by check.

This is one of the reasons why some people have been put off by the company. However, not everyone minds this downside.

The origination fee comes out of your loan amount

Loans pretty much always have an origination fee. The difference between MyInstantOffer and many other lenders is that you often have to pay the origination fee upfront before the loan is disbursed.

In this case, there isn’t an upfront fee. Instead, the amount is taken directly out of your loan disbursement. Origination fees are typically around 5% for most regular level borrowers.

MyInstantOffer Reviews

When you’re looking into a lending company, the company’s reviews are a good indicator of their fairness, reliability and the quality of their service. Luckily, MyInstantOffer has had a lot of interest and therefore, has a large, solid base of reviews from their borrowers.

With around 20,000 reviews, the overwhelming majority are positive. They’ve managed to secure a solid 4.8 out of 5 rating.

If that’s not enough to convince you of MyInstantOffer’s rapport with its borrowers, 99% of the borrowers reviewing them said that they would recommend MyInstantOffer.


To answer your question on “is MyInstantOffer legit?” the answer is: yes. They have a proven record of lending success and have been verified by major news outlets as well as the Better Business Bureau.

While what qualifies as an appropriate loan varies for every individual, this loan platform offers a lot to borrowers that they can’t find elsewhere. With lower rates and high security standards, this service appeals to many borrowers for a good reason.

Just remember that before you take out a loan for any amount or reason, make sure you understand the terms and cost of the loan in its entirety.