I can't speak for their credit card application division, but this summer I applied for a $12K unsecured loan (to consolidate CC balances) with scores in the mid-600's and only got one response--declined by MBNA. It's a free service, so I wouldn't really call it a ripoff, but if your scores aren't so hot, I wouldn't waste the inquiries. Just my opinion--perhaps others here have had more positive experiences. Good luck!
I tried this program one time for a car loan. I can say that they got me approved, but the APR and terms were out of this world. I do not recall them per se, but anything over the current 19% I was paying, has got to be crazy. Then when they search for a lender for you, they pull multiple inquiries. Lending tree pulls one, then the lender pulls one. By the time they are finished, your score is much lower than when you started. good luck,
Lending Tree is a crock! If they were a real service, they would pull a soft inquiry, instead of further dampening your credit by pulling a hard inquiry!
Somebody said the "TREE" part is because the send your information all over the place to try to get a loan...so you may get 12 "HARDS" for the price of one loan...or NO loan...
