LightStream is a better option for borrowers with excellent credit seeking larger loan amounts and longer repayment terms, especially for home improvement, and who can take advantage of the autopay discount and Rate Beat Program. Discover is a suitable choice for borrowers needing smaller loan amounts and who value readily available customer service.
| Attribute | LightStream Personal Loans | Discover Personal Loans |
|---|---|---|
| Loan amounts | $5,000 to $100,000 | $2,500 to $40,000 |
| APR range | 6.49% to 25.29% with AutoPay (includes 0.5% APR discount). Rates without AutoPay are 0.50% points higher. | 7.99% to 24.99% (depending on creditworthiness, loan amount, and repayment term) |
| Repayment terms | 24 to 84 months, or up to 240 months depending on loan type. Up to 20 years for home improvement loans over $25,000. | 3 to 7 years (36 to 84 months) |
| Credit score requirements | Good to excellent credit required. Minimum credit score of 660, but 695 or 700 preferred. FICO score of 700 or higher preferred. Several years of credit history required, with excellent credit profiles having 5 or more years. | Minimum 660 (some sources state 720) |
| Origination fees | None | None |
| Prepayment penalties | None | None |
| Funding speed | As soon as the same day if approved, verified, and closed by 2:30 p.m. ET. Funds must be transferred within 30 days (90 days for home improvement loans). | As early as the next business day |
| Available discounts | 0.50% APR discount for autopay. Rate Beat Program (will beat a competitor's rate by 0.10 percentage points). | None for automatic payments |
| Debt consolidation options | Yes | Available with online consolidation calculator; funds can be sent directly to creditors |
| Home improvement loan options | Yes | Available |
| Medical expense loan options | Yes | Available |
| Customer service availability | Monday through Friday from 9:30 a.m. to 7 p.m. ET and Saturday from noon to 4 p.m. ET. Email: customerservice@lightstream.com. | U.S.-based loan specialists available seven days a week during extended business hours |