Skip to main content

A Negative LendingTree Thread Is Trending On Reddit

Tough day for Fintech botanists.

On Friday, a Reddit thread was created criticizing LendingTree, Inc. (TREE)
amid complaints of misinformation regarding interest rates and financing availability, particularly for people with poor credit.

There were three main themes of criticism to the trending LendingTree thread.

1. Interest rates

Redditors wrote that while LendingTree’s platform offers financing options for many people, the rates can be astronomical. One user noted that when their credit was bad they guaranteed financing for 130 percent APR, which definitely puts a strain on those looking for credit options to make a large purchase.

2. Lack of availability for special projects

Another Reddit user commented that they wanted financing for a manufactured home. However, banks on LendingTree don't allow for financing for manufactured homes, something that this user believes was not advertised properly. While reasons may vary from the project's risk to the diverse options that can add or decrease the cost of the project, generally users of LendingTree’s platform were upset by the lack of transparency.

3. Unwanted advertisements

Finally, other users commented that if you sign up for LendingTree, you get unwanted mortgage junk mail that people have had a tough time stopping.

Shares of LendingTree recently traded at $90.40, up 0.57 percent on the day.

Benzinga is a fast-growing, dynamic and innovative financial media outlet that empowers investors with high-quality, unique content. Check out the 2016 Benzinga Fintech Awards! Learn more about attending or sponsoring the industry’s premier awards show and gala here.


China Backpedaling On Fintech?

Beijing still not a fan of disruption.

2015 Pulse Of Fintech Report: The Industry Is 'Maturing'

And like anything that gets mature, a lot less is happening.

Unicorn dictionary

10 Of This Year's Hottest Financial Buzzwords

Learn these words before everyone forgets most of them.


Equity Crowdfunding Just Got Easier

It's all happening... forreal this time.


Painfully Hip Bank CEO Proclaims Fintech To Be Totes Over

Sorry tech nerds, Jamie Dimon just did Fintech and now it's done.