Compare Personal Loan Rates from WalletHub Partners
Excellent Credit
$500
Prosper Reviews
5
25%
4
8%
3
5%
2
10%
1
52%
2.4
301 reviews
301 reviews
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WalletHub
@WalletHub
4 Star Rating
2024 Prosper Review
Prosper will lend anywhere from $2,000 - $50,000, to be repaid over a period of 24 or 36 or 48 or 60 months. Plus, it’s not especially difficult to get a personal loan from Prosper. The minimum credit score required is 640, which is right at the start of their fair credit range and below the average American’s credit score. Prosper’s score requirement is also 20 points lower than what many other major lenders ask for.
Loans from Prosper, a WalletHub partner, have a relatively low minimum APR at 6.99%. But Prosper’s maximum APR is 35.99%, which is fairly high. So Prosper is more suited for people with excellent credit, who will be able to secure rates on the low end of the spectrum. At the same time, people with excellent credit can also find deals that are a bit better elsewhere. Prosper charges an origination fee of 3% - 7.99% of the loan amount. There are other lenders that offer both lower APRs and no origination fees.
Prosper Review Highlights:
- Prosper interest rates: 6.99% - 35.99%
- Origination fee: 3% - 7.99%
- Loan sizes: $2,000 - $50,000
- Loan lengths: 24 or 36 or 48 or 60 months
- Late fee: 5% (min $15)
- Prosper credit score requirement: 640
- Other approval requirements: Applicants should be 18+ years old and a U.S. citizen or permanent resident. They should also have a Social Security number.
- Pre-qualification: You can pre-qualify for a personal loan with Prosper, but you’ll have to create an account on their website first.
- Co-applicants: Allowed
- Trustworthiness: Prosper has an A+ rating from the Better Business Bureau and an average user rating of 2.4/5 on WalletHub.
Prosper offers average terms but can’t compete with the best offers on the market. Below, you can see how WalletHub rates these loans in our three major categories: Terms, Requirements & Application, and Reviews & Transparency.
Prosper Ratings by Category:
| Category | Editor’s Rating |
|---|---|
| Terms | 3.3/5 |
| Requirements & Application | 4.3/5 |
| Reviews & Transparency | 3.8/5 |
| Overall Score | 11.4/15 |
These scores reflect how close a loan offer is to WalletHub’s definition of a 5-star loan. For more information, please read WalletHub’s full methodology.
Comment
1
DATHAN
@dfgatson
5 Star Rating
I prefer this great credit card because it is a fantastic financial tool. The card is user-friendly and beneficial for budgeting and my shopping needs!
Product: Prosper Credit Cards
Comment
chivas m
@blossomadore1209
1 Star Rating
I strongly advise against engaging with this credit card company. Despite never missing a payment or being late, my credit limit was lowered due to a drop in my credit score, even after paying off 90% of my high utilization amount. This unexpected action has put me in a challenging financial position. I caution against doing business with this company.
Product:
Prosper® Card
Comment
Anthony Varesio
@atvaresio2
1 Star Rating
Be careful! They "preapprove" you, qualify you, and give your approved credit limit, then they get you to link your bank through Plaid (now they have all of your personal and banking information), and then they claim you don't qualify. It's an offshore company. Read the negative reviews (I'm pretty sure the positive reviews are paid for). It's a very sketchy business practice. I suspect they data mine your information for more nefarious actions in the future. It's a big scam in my opinion. There are much better credit card options available.
Product: Prosper Credit Cards
Comment
pamelagreen666666
@pamelagreen666666
1 Star Rating
Customer service is a nightmare, absolute garbage. In the Philippines, they can barely speak English and can't understand it. I've been trying to get a statement for 6 months now. I moved, and they have my old address on file and refused to change it, even though I call every single month. The call center is passive-aggressive and refuses to do anything. Finally, I closed out the account because of the hideous service, interest rate, and yearly fee. I finally got hold of a supervisor to get them to change my address so I can get my statements. I want to make sure they are actually crediting my payments. The supervisor could speak some English, but she was rude and acted like it was a burden to update my address on file after half a year. Still, I have not received any statements. The online site also does not work, so I have to deal with the Philippines to do anything!
Since I have closed my account, I am no longer allowed to make payments on the automated phone line!!! I am redirected to the Philippines and have to wait for someone who barely speaks English, just to make a monthly payment. I have closed other credit cards and never have been blocked from using an automated payment line. It is a nightmare to deal with this company.
I tried to go online and use the Prosper Credit Card site to verify that payments and balance are correct, but even with passcodes, email address, verification code, etc., I cannot get any information. The site is garbage, non-functional. This company is predatory. No one in the US is supposedly employed by this company.
When I called and talked to the supervisor, they had just posted another yearly fee, and I tried to get them to reimburse it because I am not keeping this account, so why should I pay a fee that extends another year? In fact, I am going to pay $800 next week to pay it off and cut up the card. I have other credit cards without these types of problems. This company is shady, and the card is designed to keep you in debt forever with outrageous interest rates and fees that should be illegal. I have never had to deal the such a hateful and incompetent level of disservice.
Product:
Prosper® Card
Comment
Samuel griffin
@504bossllc
1 Star Rating
I have been with this company since November of 2023. Never been late, usually pay in full, and it's been over 6 months without a line increase or even someone calling me. We just went and closed the account. This is one of the reasons I was willing to close the account. I guess I'll take my business somewhere else. Thanks.
Product: Prosper Credit Cards
Comment
mufasa4
@mufasa4
1 Star Rating
They are an awful credit card company! Stay away! The customer service department is also useless. Wish I had just stayed away. I have already closed the account!
Product:
Prosper® Card
Comment
baurq1
@baurq1
1 Star Rating
Issued card with a 3k limit and a 743 score. Shocked to find cash advance limited to $100 per day. It also has zero rewards. Pretty much a worthless card.
Product:
Prosper® Card
Comment
charlesanthonywilliams
@charlesanthonywilliams
2 Star Rating
I just got off the phone with customer service, and I've been waiting for these people to call me back. Now I'm being charged for two rooms I cancelled a whole month before I checked in. How can you say that the charges are valid when you guys never once called me? I still have the proof from hotels.com that I cancelled. I'm going to pay off my balance and never use it again. That's stealing. I would have given a 5-star rating, but not after this. I've never been 30 days late or nothing but now. Next month, I don't care, I will have this paid off. That's how mad I am.
Product:
Prosper® Card
Comment
sarah warren
@sarahw3
4 Star Rating
It's a good card to have. I would recommend a card to other people to help them build their credit, and they have good customer service.
Product: Prosper Credit Cards
Comment
Dale Ra
@wyodremn
1 Star Rating
Said pre-approved for up to a certain amount. Instead, denied. Denied and pre-approved are not the same thing. This company is not worth dealing with. Won't recommend.
Product: Prosper Credit Cards
Comment
Jason Cain
@jccain25
5 Star Rating
I have had the Prosper credit card since August of 2023. My credit is a little below fair, but they gave me a credit limit of $1,600. About four days before Christmas, they raised my credit limit to $2,500.00, and I used most of it to buy my girlfriend a Samsung smartwatch and a new phone. My credit was pretty much maxed out. I paid the card off in late February after doing a consolidation loan from a credit union. After the card was paid off, I received notification that my credit limit was increased again to $3,100.00. I have absolutely nothing negative to say about this card. I love my Prosper card, and I've had zero issues using it. I never made just the minimum monthly payment; I always tried to pay a little extra, and that effort has paid off. I had to initially set up auto-pay, which I was a little nervous about, but they have been a good company to do business with. I've had no issues using the app for login or payment, so don't be afraid to get this card.
Product:
Prosper® Card
Comment
2
Wanda Scott
@wandie25
2 Star Rating
Bad verification process for self-employed individuals. Granted access to my bank account, but they only used bank statements to verify income. They said I had a cash flow issue. I tried to explain that as a business owner my income fluctuates and I have excellent paying history with current loan with them. No real explanation for denial of application. They also should hire people that can properly access income. Will pay off my loan and never use their services again. Not very knowledgable agents either.
Product: Prosper Personal Loans
Comment
Donald
@donald_marshall46
5 Star Rating
This loan is paid in full and the account should be closed. Thank you for allowing me time to pay off my loan, and I look forward to referring friends and family to this company.
Product: Prosper Personal Loans
Comment
Erin
@downgirl420
1 Star Rating
BUYER BEWARE! This is an absolutely HORRIBLE credit card company. I have had this card for 9 months. I have NEVER made a late payment. I have NEVER missed a payment. The MAJORITY of my payments were for the full balance. My last payment was for over $2500 (the full statement balance) on a $2700 limit. Upon receiving my payment, they immediately lowered my limit to $800 (a $1900 difference!). They didn't even give me the courtesy of an email or a letter with an explanation, NOTHING. I have NEVER experienced anything like this with any other credit card company in my life. Choose ANY OTHER CARD THAT YOU CAN!
Product: Prosper Credit Cards
Comment
1
Review Prosper
Prosper Q&A(117 questions)
Get answers to your questions about Prosper below. Editorial and user-generated content is not provided, reviewed or endorsed by any company. Please keep in mind that it is not a financial institution’s responsibility to ensure all posts and questions are answered. In addition, WalletHub independently collected information for some of the cards on this page. Ad Disclosure
Most Popular
21
Upvotes
Is it hard to get approved for a Prosper personal loan?
Reply
21
Grace Enfield, Content Writer
@grace_enfield
Is not hard to get approved for a personal loan from Prosper if you have a minimum credit score of 640, enough income to afford the loan, and a valid bank account. Even if you meet all the requirements, approval by Prosper is never guaranteed.
Requirements to Get Approved by Prosper
- Credit Score:640
- Income: Not disclosed
- Age: 18+
- Citizenship: U.S. citizen or permanent resident
- Identification: Social Security number
- Bank Account: Verifiable bank account
- Residency: All states
For more information, check out the full Prosper personal loan review on WalletHub. Then, you can estimate your potential rates with our free pre-qualification tool.
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21
Upvotes
Is it easy to get a personal loan from Prosper?
Reply
21
Grace Enfield, Content Writer
@grace_enfield
It is easy to get a personal loan from Prosper because you only need a credit score of 640 or higher to qualify. You will also have to meet other common requirements to get a loan from Prosper like being at least 18 years old, having a bank account, and having enough income to afford the loan.
Requirements to Get a Loan from Prosper
- Minimum credit score: 640+
- Minimum income:...
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7
Upvotes
Does the Prosper Card have pre-approval?
Reply
7
Chip Lupo, Credit Card Writer
@CLoop
Yes, the Prosper® Card does have pre-approval. Prosper requires applicants to check for pre-approval before they can apply, so you will have a good idea of your approval odds if you choose to apply. Getting pre-approved for a Prosper® Card means that your chances of being approved for an account are very high if you apply, but it does not mean that approval is guaranteed.
Prosper® Card pre-approvals do not affect your credit score, as they're done...
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21
Upvotes
What are Prosper's requirements for borrowers?
Reply
21
Grace Enfield, Content Writer
@grace_enfield
Prosper's requirements include being at least 18 years old, having enough income or assets to make the monthly payments and having a Social Security number. You will also need to have a verifiable bank account to qualify for a Prosper personal loan.
Prosper Requirements for Borrowers
- Credit Score: 640
- Income: Not disclosed
- Age: 18+
- Citizenship: U.S. citizen or permanent resident
- Identification: Social Security number
- Bank Account: Verifiable...
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1
21
Upvotes
Is Prosper legit?
Reply
21
Adam McCann, Financial Writer
@adam_mcan
Prosper is a legit company because it has an A+ rating from the Better Business Bureau, and it has been BBB-accredited since 2012. Also, Prosper personal loans received a 3.6/5 rating from WalletHub's editors because they have competitive interest rates and no prepayment fees.
Why Prosper Is Legit
- Prosper has a Better Business Bureau rating of A+.
- Prosper has been BBB-accredited since 2012.
- Prosper has been around since 2005.
- ...
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1
22
Upvotes
Does Prosper offer good debt consolidation loans?
Reply
22
1
WalletHub
@WalletHub
Prosper has two debt consolidation options: personal loans and home equity lines of credit. Both options allow you to borrow money for any purpose, including paying off old debts, but there are some key differences that make each option appealing to different types of borrowers.
Using a Prosper personal loan for debt consolidation allows you to combine up to $40,000 in debts (after factoring in the origination fee). The loan is not secured by...
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1
Upvote
How can I reach the Prosper Card customer service?
Reply
1
Maria Adams, Credit Cards Moderator
@m_adams
The easiest way you can reach the Prosper® Card customer service is by giving them a call at(800) 903-4697. Alternatively, you can contact them viaemail.
How to reach the Prosper® Card customer service over the phone:
- Call(800) 903-4697.
- Enter you 16-digit card number and then press the pound key (#).
- If you want to speak to a live representative directly, ignore the prompts. Just stay on the line and you will...
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1
Upvote
What's the starting credit limit for the Prosper Credit Card?
Reply
1
Maria Adams, Credit Cards Moderator
@m_adams
The starting credit limit for the Prosper® Card is at least $500. Everyone who gets approved for this card is guaranteed this limit. However, depending on your credit standing, you could get a much higher credit limit. The higher an applicant's credit score and income are, the higher the starting credit limit is likely to be.
Keep in mind that you can ask to get a credit limit increase by calling the Prosper customer service at the...
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21
Upvotes
Does Prosper offer medical loans?
Reply
21
1
Adam McCann, Financial Writer
@adam_mcan
Prosper offers medical loans through its “Healthcare Lending” division, which works with doctors to provide loans to their patients. But patients can't apply for one of those loans unless their doctor is part of the program. Prosper doesn't really give details on terms, and they only work with doctors in bariatric surgery centers, cosmetic dental offices, cosmetic and plastic surgery centers, and fertility clinics. However, there is a good alternative for people with all kinds...
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21
Upvotes
How do I know if Prosper approved me for a loan?
Reply
21
Gino Rodriguez, Writer
@gino_rodriguez
You will know if Prosper approved you for a loan because you will receive an application decision via email. Prosper may approve you as early as one business day after you apply, or within 26 days, on average, depending on the type of loan. You can check your loan status online in the meantime.
You should receive the funds up to 11 days after approval, depending on the type of loan. Just keep in...
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