Oct. 18, 2022

4 min read

Laurel Road Student Loan Cashback® Card Summary

Laurel Road was founded in 2013 to offer student loans, mortgages, and banking services. The company offers a cashback credit card that gives you 2% cashback towards student loans with most US loan servicers.1 There is no annual or foreign transaction fees and there is 0% APR for the first year on balance transfers made in the first 60 days.² Plus, you can earn $300 in cashback rewards when you spend $3,000 in your first 90 days as a cardholder.³

Pros

2% cashback towards any eligible student loan
0% intro APR on balance transfer for the first 12 months

Cons

Only 1% cashback if you take a statement credit
Requires excellent credit

Laurel Road Student Loan Cashback® Card at a glance

4.2

Editorial score

Fees

No annual fee, has other fees

4.0

Eligibility (credit score)

Only accepts excellent credit

3.0

Security

FDIC insured, SSL/AES encryption and supports 2 factor and biometric authentication

5.0

Customer service

Multiple communication options, wide range of hours

4.0

Online experience

Excellent site and app with detailed FAQs, help center, and transparency of rates and features

5.0

Laurel Road Student Loan Cashback® Card Apply Now

Overview

Laurel Road is a national lender founded in 2013. The company offers student loans, personal loans, and mortgages, as well as the Student Loan Cashback Card and a savings account.

The Laurel Road Student Loan Cashback Card® offers 2% cashback on most purchases if you use the rewards towards student loans with 95% of U.S. servicers, so the card’s usefulness isn’t limited if you have student loans from a company other than Laurel Road. In addition, you can get 1% cashback on purchases if you use the rewards for a statement credit.1

Suitable for?

The Laurel Road Student Loan Cashback Card® is most suitable for anyone who wants to use credit card rewards towards student loans. The 2% reward rate is very good for a card that doesn’t have an annual fee. Plus, you can claim your cashback on student loans serviced by most US lenders.

The Laurel Road card is also great for those who can take advantage of the introductory offers. You get $300 in cashback if you spend $3,000 within the first 90 days of receiving the card.3 You can also pay no interest for 12 months on balance transfers made in the first 60 days.2 So, this card can be helpful if you want to transfer a balance from another credit card with a high interest rate.

Interest Rates and Fees

The Laurel Road Student Loan Cashback Card® doesn’t have an annual fee or foreign transaction fees. † The card has a variable interest rate from 18.99% - 27.99% (variable) APR based on your creditworthiness. This APR will vary with the market based on the Prime Rate.

Annual Fee	Foreign Transaction Fee	Late Fee	APR
$0	$0	Up to $39	18.99% - 27.99% (variable)

Rewards & Cashback

The Laurel Road credit card offers 2% cashback on most purchases when you use the rewards toward eligible student loans. You can apply the rewards to a student loan balance with most major US servicers, including Laurel Road, EdFinancial, CommonBond, and more.1 If you want to use cashback for a statement credit, you receive a 1% reward on purchases instead of 2%.1

The card also comes with two introductory offers. First, all new cardholders can receive a one-time $300 cashback bonus when they spend $3,000 in the first 90 days.3 Second, Laurel Road offers 0% APR for 12 months on all balances transferred to the card in the first 60 days.2

The Application Process

You can apply for the Laurel Road Student Loan Cashback Credit Card® online. You will need to provide your social security number and agree to a credit check, as well as giving basic information about your employment status and income. The company makes an approval decision in minutes, and once you’re approved, Laurel Road will send out your new card within 7-10 business days.

Help & Support

Laurel Road offers customer service support by phone, live chat, and email. The company also has an FAQs page with specific information about the Student Loan Cashback Card.

Phone call hours: 7 am-11 pm (ET) 7 days a week

Security

Laurel Road’s online application is encrypted to protect your personal information. The card also comes with Mastercard ID Theft Protection, which helps you resolve any fraudulent charges on your account.

FAQ

Does the Laurel Road credit card work with Apple Pay?

Yes, the Laurel Road Student Loan Cashback Card® is compatible with Apple Pay®, Samsung Pay®, and Google PayTM.

How do I get the $300 bonus offer?

You can get the $300 introductory bonus by spending $3,000 on qualifying purchases within the first 90 days of activating your card.

Can I set up automatic payments?

Yes, you can set up automatic credit card payments through your online Laurel Road account.

Conclusion

The Laurel Road Student Loan Cashback Card® offers 2% cashback on most purchases when you use the rewards to pay off your student loans. The cashback can be used towards student loan balances with most US servicers.1 In addition, Laurel Road offers a $300 bonus when you spend $3,000 in the first 90 days. Best of all, the card has no annual fee. †

Laurel Road Student Loan Cashback® Card Apply Now

Methodology

This review was completed using information from the Laurel Road website.

Laurel Disclosure

*All credit products are subject to credit approval.

NOTICE: This is not a commitment to lend or extend credit. Conditions and restrictions may apply. All mortgage products are subject to credit and collateral approval. Mortgage products are available in all 50 U.S. states and Washington, D.C. Hazard insurance and, if applicable, flood insurance are required on collateral property. Actual rates, fees, and terms are based on those offered as of the date of application and are subject to change without notice.

1You will earn 2.0% in Cashback Rewards for each $1 spent on eligible Purchases if you redeem your Cashback Rewards towards your Student Loan with an eligible servicer. This equates to $0.02 in Cashback Rewards, for each $1 spent. For example, if you spend $100, you will earn $2.00 in Student Loan Credit. You will earn 1.0% in Cashback Rewards for each $1 spent on eligible Purchases if redeemed for a statement credit. This equates to $0.01 in Cashback Rewards, for each $1 spent. For example, if you spend $100, you will earn $1.00 in Cashback Rewards. Cashback is awarded based on eligible credit card purchases excluding transactions such as cash advances of any type, balance transfers, convenience check transactions, overdraft protection transfers and quasi-cash transactions.

Eligible student loan services include the following:

Laurel Road – MOHELA Loan Servicing; Alaska Commission (ACPE); American Education Services; Aspire Servicing Center; Bank of North Dakota; College Ave Student Loans; College Foundation Inc.; CommonBond; CornerStone U.S Department of Education; CornerStone Education Loan Services; Discover Student Loans; Earnest Operations LLC; EdFinancial Services U.S Department of Education; EdFinancial Services; FedLoan Servicing Department of Education; First Mark Services; Great Lakes U.S Department of Education; Granite State Management & Resources; Granite State Management & Resources – U.S Department of Education; Heartland – ECSI; Kentucky Higher Education Student Loan Corporation; Launch Servicing; Lendkey Technologies Loan; MOHELA-SoFi; MOHELA-U.S Department of Education; MOHELA Education Loan Servicing; National Student Lona Services; Navient Commercial Loans; Navient – U.S. Department of Education Loan Servicing; Navient Private Loans; NaviReFi; North Carolina State Education Assistance Authority; Nelnet ” J ”; Nelnet ” D ”; Nelnet E Department of Education; NJHESAA or NJ Class; North Texas HEA; Oklahoma Student Loan; Oklahoma Student Loan U.S Department of Education; PenFed Credit Union; ReliaMax Ln. Services LLC; Rhode Island Student Loan Authority; RSLFC Payment Center; Sallie Mae; SEAA Repayment Services; Tuition Options; UAS; UHEAA; VSAC Payments; Wells Fargo Education Loan.

2 0% Intro APR for the first 12 months on balance transfers when you transfer your balance within the first 60 days of account opening. After that, the variable APR on balance transfers will be 18.99% - 27.99% (variable) based on creditworthiness. This APR will vary with the market based on the Prime Rate. Balance transfer fee is either $10.00 or 3% of the amount of each transaction, whichever is greater.

Do you pay your balance in full each month?

If you always pay your balance in full each month, you do not pay interest on your purchases. This is called a grace period. You will lose this grace period if you transfer a balance and do not pay off your entire balance by the payment due date. Even if you pay off all of your purchases in full each month, you will begin to pay interest on those purchases. To avoid interest on purchases, you must pay the entire balance (including the balance transfer amount) each month by the payment due date. Here’s an example: Let’s say you complete a balance transfer or write a $1,000 convenience check. No matter how else you use your card, that part of the balance has the disclosed Introductory APR for the disclosed amount of billing cycles from account opening. Then you make a $500 purchase with your card. Purchases are charged the disclosed purchase APR from the transaction date once you lose your grace period. If you do not pay the entire $1,500 by the payment due date you will have lost your grace period and therefore you will pay the disclosed purchase interest APR on the $500 in card purchases from the transaction date.

The creditor and issuer of this credit card is KeyBank N.A., pursuant to a license from Mastercard International Incorporated. Mastercard is a registered trademark, and the circle design is a trademark of Mastercard International Incorporated.

³Introductory offer: For a limited time earn a cash back bonus offer after spending $3,000 within 90 days of account opening. Account must be opened before 11:59pm ET on 1/3/2022. The bonus cashback amount will be $300 if redeemed towards student loans with an eligible servicer. The bonus cashback amount will be $250 if redeemed for statement credit. Cashback is awarded based on eligible credit card purchases excluding transactions such as cash advances of any type, balance transfers, convenience check transactions, overdraft protection transfers and quasi-cash transactions.

See Terms and Conditions for more information.

Google Pay is a trademark of Google LLC.

Samsung Pay is a registered trademark of Samsung Electronics Co., Ltd.

Apple Pay® is a trademark of Apple, Inc.

Laurel Road is a brand of KeyBank National Association. All products offered by KeyBank N.A. Member FDIC. NMLS # 399797. Equal Housing Lender. © 2021 KeyCorp® All Rights Reserved. Laurel Road is a federally registered service mark of KeyCorp. 855 Main St., 8th Floor, Bridgeport, CT 06604, USA.

Written by

Michael Graw

Michael Graw is a Bellingham, Washington-based writer focusing on finance, tech, and science. His work has been featured in print magazines and high-impact websites. He writes for BestMoney and enjoys helping readers make sense of the options on the market.‎

Trustpilot reviews

See what some costumers are saying about Laurel Road Student Loan Cashback® Card

Great

•

Reviews 470

Excellent

74%

Great

Average

Poor

Bad

15%

alyssa b.

15 hours ago

I opened a high yield savings account…

I opened a high yield savings account with Laurel Road to maximize my savings prior to purchasing a home. I called Laurel Road when I had questions and their premium care specialists were always very nice and super helpful.

richard brumm

7 hours ago

Easy setup and transfer

Easy to setup and transfer money fie a great 4.8% rate.

customer

12 hours ago

I wish I could rate them ZERO stars

I wish I could rate them ZERO stars. My savings account has been blocked for three weeks now and not one person can -or will not- tell me why. I have called them almost daily and the say "working on it". Here's what they said early yesterday- Reply from Laurel Road 5 hours ago We are sorry we fell short of your expectations. We have rectified the issue and you should be all set. Please give us a call at 833-427-2265 if you have further questions. Now at 30 hours later my account is still blocked to my access. I'm wondering5/15/2023 if this bank is really a big scam now.

cheryl pyszkowski

15 hours ago

There is a digital footprint when u make a deposit

It was an easy process but I must admit I've worked in banking for several years so have a security that my money won't be lost! I know it was a day or two before I saw monies reflected in my balance (I deposited via taking copy of front/back of check). I was not concerned however I think some people do get nervous but not me. I also set up direct depoist to have a deposit put in savings with my bi-weekly pays.

sarah

15 hours ago

Easy to set up and start earning!

Easy to set up, great customer service. Excellent APY!

alec olson

18 hours ago

Holding my money for no reason

Have waited 3 weeks for them to unfreeze money I transferred in FROM MY OWN ACCOUNT IN MY NAME. Have called multiple times and told the same thing "wait more business days..." I am very close to filing an official CFPB complaint.

janet

19 hours ago

super easy online experience!

susan palmer

a day ago

Very helpful

💯 eExcellent customer service in a timely manner

johnny chisholm

2 days ago

You guys have excellent customer…

You guys have excellent customer support. You also have great interest rates on savings account.

customer

2 days ago

Worst bank I have ever found in my 80 years

You make it easy to open and fund a savings account. I did this four weeks ago, then two weeks later you slam the door on my account and totally block me from my money. After 4-5 phone calls not one person can tell me why. As I write this my account is still blocked after two weeks. If I ever get to pull my money out of your bank I will pull every drop in a hot minute and give your bank zero stars wherever I can find to do so. GIVE ME BACK MY MONEY!!! IF MY ACCOUNT IS NOT RETURNED i WILL BE HIRING AN ATTORNEY THIS WEEK.

cassandra

2 days ago

Super easy to research and setup.

Super easy to research and setup an account. Direct transfers are also very quick and easy. Great security with MFA enabled on every login.

steven lyles jr

2 days ago

Great Experience

My experience has been over excellent. As of this date, I had no issues, and everyone is being I spoke to has been very polite, efficient and professional. If I have one critique is that the technology, for the website has been hit and miss.

b from nyc

2 days ago

Best high-yield savings in the market!

My experience with Laurel Road has been phenomenal. I already had a loyalty checking account, and simply adding the high-yield savings account was simple, easy, and seamless. The high yield savings account is the top of the market, and the terms and conditions are really easy to understand. Simply connect your banks and move money in an instant.

james murphy

2 days ago

Easy and convenient

jen p

2 days ago

I have had nothing but issues since I…

I have had nothing but issues since I applied for the high yield savings account. 1) When applying you should consider giving the option for customers to add a co-owner from the beginning instead of having to wait 2 weeks to be able to do so. 2) when applying, you should state that the name has to be EXACT as the external accounts we will be linking for transfers or else it won't get verified. And when it can't be verified there is no explanation as to why. I had to request for you guys to change my middle name to just my initial...then wait a few weeks for that to be done and then my account still siad it cannot be verified. I then requested my husband as a co-owner thinking maybe that is the issue becasue he is a co-owner on my external account (neither of us our primary on our external account just joint). On the form to enter the co-owner's name it asks for a full middle name but NOWHERE does it have a special note section where I could ask you guys just to use his middle initial so that it matches his name on our external acct. So then after he was added as a co-owner I had to call you to change his mid name to just his initial..still waiting for that to be done. I have to log in each day to see if/when the change has been made. No email or notification to alert the change..would be helpful. I have had to call in numerous times trying to figure out why my external account won't verify. A rep suggested I try zelle to transfer money (since if I transfer from my external account, they tansfer a fee each time). I set up zelle only to get errors within my Laurel road account, I had to call again just to learn that zelle doesn't work with savings accounts. I was told that after you change my husband's middle name to middle initial, if I still can't get my extrnal account verified, then try and have my husband create a login and then have him try. if that doesn't work then I need to set up a laurel road checking account so that I can write myself a check to deposit into my external account when I need to withdraw. It has all been such a hassle. I am not comfortable with laurel road having my money if I can't easily get it back to my external account

james mueller

2 days ago

The transfer time seamed rather long I…

The transfer time seamed rather long I hope when I need money to go to my external account it doesn't take quite as long. Interest rate is what I was going for

brett steinberger

2 days ago

Ease & speed of online application and…

Ease & speed of online application and approval. Great APY rates too!

yatish bhandari

2 days ago

Restricted funds - log a complaint with the OCC

A month has passed by without access to my funds. Spoke to the customer service today and still the same answer, there is no SLA and/or timelines when the review process will be completed. Anyone who is having the same issue, I recommend you put in a complaint with the OCC who is the regulator for KeyBank. Hopefully, when enough of us put in these complaints, the bank will consider changing their process.

lab tech

11 days ago

without a notice they froze my account

without a notice they froze my account. My direct deposit was blocked. I don't have access to my funds. There is no customer service, or explanation. So basically if they were an individual I'd have them arrested for theft. But since theyre a bank, I have to hope they give me my money. Oh and they owe me a $200 bonus. And they charge bogus fees

robert bodey

11 days ago

BEWARE NOW LAUREL BANK DEPOSITS…

I now have deposited $34k with Laurel Road / Key Bank. The money going in has been easy for deposits. Attempting to link accounts with my banks & investment accounts has been disastrous. Speaking with clueless customer reps has not been helpful . This isn’t my first rodeo linking bank accounts. It’s kind of interesting I can attach my Wells Fargo checking account to deposit funds, however I can’t link them to withdraw any funds. The response I receive from my link process with Laurel Road / Key Bank website is it’s an inactive account. I think it’s time this week for me to contact the FDIC AND FBI this week. This could be another FaceBook/ Meta fraud company.

c i

15 days ago

You provide an easy online experience

You provide an easy online experience. Great savings interest rates. Unparalleled bonus money for direct deposits. All banks should be like Laurel Road.

nkrumah jean louis

15 days ago

Amazing customer service

Amazing customer service , signing up for checking and savings was an easy process so far Soo good to be honest

hoa dao

16 days ago

Reliable online banking

This Laurel Road online banking is quite reliable. Their staffs are honest, fast and courteous. Their verification process makes you feel safe for them to handle your banking needs. I hope to see them grow nationwide.

andrew contafio

16 days ago

Unique promotions you have

Unique promotions you have. I’ve been direct depositing my SS check every month into PNC for years and they have given me jack.

candice dillard-winnex

16 days ago

Hello customer service is great…

Hello customer service is great everyone that I speak with is very nice and helpful and friendly thank you so much!

angie

20 hours ago

DO NOT GIVE ANY MONEY TO THIS COMPANY!

DO NOT GIVE ANY MONEY TO THIS COMPANY! Looks at all the similar reviews how this company is screwing over anyone trying to transfer money out!!!! BEWARE!!! I initiated a transfer and they did not tell me they were locking me out of my account. I just thought the app was not working (again!). So I tried to log in online instead and then they had a pop up saying to call to get your account unlocked. I thought maybe the password I had put in wrong. So I had to call to learn my account was locked due to the transfer I initiated and they were looking into fraud. NO notification otherwise from them. Not even an email. I had even verified micro deposits before initiating the transfer. So isn’t the point of microdeposits for verification?!?! Then they take 10 business days just to assign it to someone to even look into it for fraud. You can not talk to the fraud specialist. They state they will let you know of their results via letter at an unknown time. I even talked to their Executive Office at KeyBank who really isn’t helpful at all either because they need to try to talk to someone at Laurel Road. So anytime I call it’s an hour call because it’s constantly being transferred and talking to multiple people, yet no one can ever provide useful information or resolve the issue. A month of being locked out so far at this point. (PS love how they listed a number to call in response to this message that when I did call just rang and rang!!! If that doesn’t tell you something!!!)

yatish bhandari

17 days ago

Fraud - STAY AWAY!

Laurel road advertises a grat APY on their savings account. When I transferred over my emergency fund to the savings, a few days later my account was frozen (and still is). Customer service does not know or will not say why. I'm not able to login to my account and I cannot withdraw my funds with a complete lockout. Customer service says the account is under review (from what exactly???) and that a letter would be sent to me if the review was completed and my account would be unlocked or CLOSED???? I'm okay with closing the account, since I don't plan to keep it open anymore after this instance, but when asked would I be sent a check for my funds, the customer service did not know! This is utter fraud from a bank and a brand I trusted in the past. I'm looking for a legal advice now. They need to be sued!!

steve

21 days ago

Restricted access to account and funds!!!

I don't recommend this bank if you want access to your own funds and lack of customer service. I opened a Laurel Road Checking and Savings account recently. They locked the Account for no reason and restricted my access. I called the customer service they told me I had to wait 15-30 business days to review and up to 7 business days to receive a piece of mail for more information on the why my account is under review! Why couldn't they review my account before opening and accepting deposits instead of locking me out for over a month?

jerry carter

a month ago

This company offered a bonus for direct…

This company offered a bonus for direct depositing 2500 into a checking, after the direct deposit was made and I qualified I tried to use the 2500 and they froze my account and locked me out of the online portion, the few people I have talked to are clueless and key bank doesn't want to help either. It's now been 15 days.

james vega

a month ago

They defrauded me

They defrauded me. I opened a savings account with $5000, I have a checking account that my payroll direct deposit goes in and they locked both accounts. I wrote checks from my checking account and they are bouncing left and right. I am going to contact FBI to report them. Their actions indicate criminal intent. Stay away from them they will do the same.

anastasia

a month ago

I would like to rate this higher

I would like to rate this higher, but I too have had a problem with my account being frozen for fraud, without notice, over a weekend, and customer service wasn't available. I also had the displeasure of speaking to someone that had no idea what they were doing, at. all. I was able to speak with another individual during another call who was able to address my needs and concerns quickly and efficiently. Laurel has a good loyalty/work perks program, but I am surprised at some of the issues I've had. My questions since the initial incident have been handled well, by that same person who was helpful. If I'm able to go a few months without issues, I'll be happy to revisit my rating.

sachan prusty

2 months ago

Potential fraud by Laurelroad/Key Bank

Despite my numerous attempts to seek assistance, I have yet to receive any help. If someone from Laurelroad happens to come across this message, I implore you to address this matter urgently. I have reached out a total of six times, including a call made today, but each time I am told there are no updates. At this point, I am beginning to suspect that the bank is intentionally scamming me. It has now been 22 days since this issue first arose.

sachan prusty

2 months ago

Account Restricted

Without any prior notice, my access to Laureroad has been restricted. Upon contacting them, they informed me that they cannot offer any assistance and do not know the duration of the restriction. I am now uncertain about what to do as a significant amount is held in that account.

paula fletcher

3 months ago

Loan process

The process was smoother than I thought it would be; everything being online sometimes is a challenge. They made it very easy for me and I appreciate that.

kenya lazovik

3 months ago

Don't keep their promises

I refinanced my student loans with them. They have a sliding scale interest rate depending on how much you direct deposit into their linked checking account. Originally my husband was having his check direct deposited and we had no issues. We like to front load his 401k so he was depositing the majority of his check into his Fidelity account. So I transferred my direct deposit to Laurel Road. I lost my discounted rate because they decided my employers direct deposits don't qualify as direct deposits. The only positive of this bank is the discounted interest rate I was receiving. Otherwise, this bank is inconvenient and impractical

karirose engel

3 months ago

terrible customer service

terrible customer service, approved for checking account and not allowed to get on line, employees will not tell me reason

scott mclaughlin

3 months ago

The entire process was so easy and…

The entire process was so easy and efficient. They provided constant email updates and reminders so you always new the status. Just tremendous!

katelynn perkins

3 months ago

Recommend this company!

Laurel Road made it easy to reconsolidate my student loans, along with lower interest rates. The application process was easy and fast. They made what can be a stressful thing for many individuals, stress free.

christopher crespo

3 months ago

Going on two months still waiting on my…

Going on two months still waiting on my check

trusted consumer

4 months ago

AVOID - DO NOT USE

Please - I beg you - do not use this company. My mother opened a checking account with Laurel Road and they claim there was fraud. Her direct deposit has been held without explanation for 13 days now and they are refusing to explain why. Do not use this company under any circumstance.

hilary prosk

4 months ago

I previously wrote a review of Laurel…

I previously wrote a review of Laurel Road Bank in December of 2022. My poor experience with them has sunk to an even lower level, if that is even possible. After locking me out of my account for a month, holding onto my money and giving no explanation for any of this...they finally returned my money and closed my account. BUT that wasn't enough. Now they have reported me to EARLY WARNING, which prevents me from opening up any other accounts even with my current bank. LEGAL PROCEEDINGS TO COMMENCE IMMEDIATELY. (I have already reported this horrid excuse for a bank to the Consumer Financial Protection Bureau. The Bureau contacted me a month ago telling me the bank "needed more time to research the account." A herd of chimpanzees could do a better job than these clowns.

jerry

4 months ago

Easy to open account.

armond brown

4 months ago

Five star app

It’s my first time messing with this app but so far so good

jeffery preston

4 months ago

Laurel road

I really like the banking features

nicole rutland

4 months ago

I do not recommend y'all opened my…

I do not recommend y'all opened my account sent me a card and checks then closed my account with no explanation and have the audacity to still send welcome emails and thanks for being a customer and now a survey smh I'm real disappointed and dissatisfied

cecil jordan

4 months ago

I always do my banking online and love…

I always do my banking online and love to use banking phone app, but the app is not so good.

thomas murphy

4 months ago

I've opened a new account I'm over a…

I've opened a new account over a month ago and things are running very smooth with my direct deposit and the benefits offered by Laurel road.... I would recommend this to anyone

jamie cooper

4 months ago

Locked out of account

Locked out of account. No reason I shouldn't be able to access my account.

kalyan e

4 months ago

This bank is a joke

This bank is a joke. I don't recommend this bank if you want access to your own funds. I opened a Laurel Road Loyalty Checking account and funded the account with my own money from another bank. They locked the Account for no reason and restricted my access. I called the customer service and jokers told me to wait 10 days. I waited 18 days and called them again. Now they want another 10 days and will receive the decision in mail. You are better off doing business with local credit union than shady banks like Laurel Road.

elizabeth

4 months ago

I opened an account and I was not able…

They've corrected their mistake. There was a short coming in their software as it's related to KeyBank which is their sibling. Actually, I have changed my feelings with them. Their transfer is fast and reliable. They offer very good incentives. It's an excellent bank.

katwan pink

5 months ago

Go with a traditional bank because…

Go with a traditional bank because Laurel road will lock your account with no warning. I had money deposit into my account and now it lock. It was no problem using my accounts until today when my money hit. This bank is the worst and I will stick with my credit union because their customer service will answer. Laurel hours and customer service is horrible the worst.

theresa

5 months ago

Cannot recommend

Cannot recommend. I was approved for a Royalty Checking Account after an arduous approval process, and set up a direct ACH deposit, and as part of that, a test ACH deposit of a cent was sent to my new account. Then, Laurel Road closed my account without warning, saying there was fraudulent activity and I confirmed it (I did not receive any notice of fraud to confirm or deny) and apparently reported me to the Early Warning Services. I have no idea why, and now I have to dispute the issue with Early Warning Services.

karisa

5 months ago

I refinanced a student loan through…

I refinanced a student loan through laurel road, and it went very smoothly. Easy to work with and I got the best rate around!

melanie ybarra

5 months ago

App very user friendly

App very user friendly. Very timely on the notices.

briley bowen

5 months ago

Very easy to deal with and majority of…

Very easy to deal with and majority of it is all online so it makes things very simple.

darryl whitney

5 months ago

Laurel road is great, but

Laurel road is great. Love the checking and savings accounts. App easy to use. Refinanced student loans with incredible rate. My one issue is that I can’t use it with 3rd party apps like YNAB and EveryDollar. I did finally get YNAB to work recently but it’s inconsistent and involves a difficult login procedure each time you want to get transactions. EveryDollar won’t connect at all and they say it is Laurel Roads issue. I really want to switch to EveryDollar this year since it’s cheaper.

mehrdad b.

6 months ago

Avoid this company.

Avoid this company. They have no clue what they are doing. I applied for a physicians loan and everything was fine until 4 days to the closing. They charged me for the appraisal of their choosing and ended up not offering the loan. I got the loan through another institute.

ahmed mohammed

6 months ago

Personal medical residency loans

I have been denied a personal medical residency loan twice despite meeting the requirements listed on the web application eligibility page. The second application even did a hard pull which crushed my credit score. The denial letter they send is always vague and when i call to get more information, i find out the explanation for the denial is always something new which was never clearly stated or written in the eligibility page and the FAQs page of the web application. The ordeal has left me feeling frustrated and even angry for the covert and dubious games.

hilary

6 months ago

Worst Banking Experience of My Life

What a nightmare! With no warning either by phone, text or email, my online access to my checking account was completely shut down! When I called, I was told I wouldn't have access for at least 10 business days because my account was under review for suspicious activity! Two and a half weeks before Christmas, and I am shut off from my funds!! I immediately stopped any more deposits from going into this account, and as soon as I gain access to my funds, I will shut down this account and never have anything to do with this horrible bank again. This is the worst banking experience of my entire life, and at 61, that is saying a lot. UPDATE: 12/15/2022 Here it is one week since this awful situation began, and you would hope Laurel Bank would have as much interest in rectifying the situation as they have in trying to disqualify my review, but alas hope springs eternal. So I spoke to a representative of Key Bank who was very polite and professional, but still had zero power to explain why this had happened to me...other than to convey Laurel Bank thought my direct deposits looked suspicious...every deposit was from the same source...my employment...and the funds were drawn from the Bank of America. Real sketchy, right? So obviously they had questions about my income but instead of asking me they shut down my account, gave me no explanation and have treated me like a money launderer or common criminal!!! This is so beyond beyond ridiculous. I implored the rep to help get my account closed and my money back to me. She was sympathetic, but I'm less interested in hand holding and totally focused on getting results. She said it might be up to 15 days to get a cashier's check, as my account was "still under review." You just can't make this stuff up. Again, the message is do not bank with Laurel Bank unless you enjoy the excitement of having your hard earned money taken hostage by a group of know nothing/do nothing unprofessional pencil pushers. 12/17/2022 SECOND UPDATE Could it get any worse? Laurel Bank is clearly up to the challenge of making an awful situation even worse, Just received a form letter in the mail from them saying that there is a hold on my account "that is typically resolved in ten business days" because I confirmed fraudulent or suspicious activity on my account. THE ONLY FRAUDULENT AND SUSPICIOUS ACTIVITY ON MY ACCOUNT IS BEING PERPETRATED BY THIS GODAWFUL BANK!!! ALL I WANT FOR CHRISTMAS IS MY MONEY BACK AND TO FORGET THIS JOKE OF A FINANCIAL INSTITUTION EVER EXISTED. THIRD UPDATE: 12/23/2022 Day 16 of this Debacle (turns out they officially put the hold on my account December 7th.) Here it is 2 days before Christmas, and still getting the middle finger from this bank, although they are getting two back from me. I spoke to a male there who "was going to check on the details" for me...as usual, nothing new. They saw my multiple deposits going in, and my oh my, a few transfers going out...and that was "suspicious". Instead of talking to me about the situation, they are "researching" it...it is taking 16 days...obviously it will take more...to figure out I am getting deposits and I am making transfers. The same source for all deposits, and the same source for all transfers...another one of my bank accounts. This is their big criminal dragnet...me and my few legally earned hundreds of dollars...that they continue to hold hostage. And the guy I spoke to let me know there was "no way" they would release my funds to me until "the research" had concluded. At this point, besides getting my money back, I hope I prevent as many people as possible from doing business with this absolutely ridiculous bank.

nicole guzman

7 months ago

🗣Trash & Super Inconvenient🗑

🗣Trash & Super Inconvenient🗑 Takes DAYS of putting in "requests" to get anything resolved. It takes longer than usual for things to post on your account, dates are never right on transactions, and omg, God forbid you try to use zelle..I'm still waiting on my $1 zelle "test" transaction to clear..it's been 3 ¹/² days and still no $1..sad..I can see why they're offering people money to join. It's so not worth it. SoFi is 100x better if you're looking for a decent digital bank. I wanted 2 banks, one with a physical bank & 1 solely online bank with a nice APY %, So I tried Laurel Road..I should've known it was a no go🙅🏾‍♀️, just by downloading their mobile app. It's so bad😒🚫🚩 But kudos to the ones who benefitted from them. It was...is...a horrible experience for me currently. My Conclusion: ..RUN..

david cordaro

7 months ago

Excellent cust. service & generous

Excellent customer service all of the time, whenever I needed it, and very generous with continuing to hold my locked in rate while agreeing to match the federal loan pause by extending the finalization date

ben massey

8 months ago

Avoid This Company and Key Bank at All Costs

Do not waste your time with this company or the parent company, Key Bank! It is not worth the 0.25% rate discount on your mortgage! I have wasted countless hours of my time either using their woefully poor and awkward online portal or on the phone trying to reach my loan officer or talking to multiple mortgage customer service reps who do not return phone calls when they say they will. It was very difficult to get in contact with the loan officer during underwriting and he would request documents which were already uploaded to the online portal. Even then, it would take multiple attempts to upload the documents because the portal would glitch and lock up and it would not confirm whether the upload was completed. It was very cumbersome. The lack of communication from the loan officer during underwriting was so bad, I had to talk with another rep to make sure all the requested documents were received and were with the underwriters. He even didn't respond to my real estate agent who tried contacting him multiple times. I did not not know if the loan was approved until just days before the closing and we thought it would have to be pushed out. Key Bank which owns Laurel Road and services the mortgage is just as bad if not worse. The customer service reps do not return calls when they say they will and my calls have been disconnected more than once when either transferred or placed on hold. I am NOT happy they are my mortgage holder and wish they weren't receiving my money for this loan. I'll switch to another lender as soon as I can!

brandon tirre

8 months ago

Terrible experience

Terrible experience. The account got locked within 24 hours of opening, apparently sending a Zelle payment is against the rules. The number they ask you to call is dead, none of the customer service support members knew anything about unlocking my account. My account was locked on the 29th, I need to pay rent on the 30th, and they told me it takes about 5 days for the engineering team to respond. So for the next 5 days, I get to sit here and wait for them to unlock my account. I can't believe I am saying this, but I should have stayed with my other bank.

sureillreview

9 months ago

I had a great experience with them

I had a great experience with them. I used a physician loan and they had a significantly better rate than I could get elsewhere. Their portal is straight forward to upload documents and my agent was always available to help and explain things. The only sticky thing was setting up auto-pay as it was a bit confusing between them and Key bank, which they fall under. A quick call to customer service cleared that up though.

john j

9 months ago

security issues

Having to put your full ss number out there first and I can't even get to the 'secure' website makes me question their professionalism

veronica bense

10 months ago

Only issue was setting up the auto…

Only issue was setting up the auto payment but other than that super easy site to use.

melb

10 months ago

Easy!

The process for student loan refi was so easy and straightforward. From getting a quote to funding the loan was less than a week and completed from the online application. Easy!

mora mocanu

10 months ago

We used Laurel Road to purchase our…

We used Laurel Road to purchase our home using a physician loan. Overall the process was ok but I think unnecessarily stressful towards the end. We didn’t get the Clear to Close until 2 days before closing. It seems like a lot of the things holding up the process could have been anticipated. On the bright side they were responsive and I got a good internet rate.

bianca gaja

a year ago

Laurel Road Review

Everyone I contacted at Laurel Road was very helpful and made the process of refinancing my loans smooth and easy! Highly recommend!

julie plowman

a year ago

Great experience?

I had a very good experience with the Application process through Laurel Road. The online application process was very easy....document requirements for upload were also minimal and simple to accomplish. The rates were the best that I had been quoted after researching at least 4 other companies for refinance of Parent Plus student loan debt. Even a discount in the interest rate if you set up auto pay. Overall - very happy I chose Laurel Road

nkd

a year ago

Great on-boarding process and customer…

Great on-boarding process and customer service. I would suggest that customers at least have 1 phone call or meeting with an underwriter to ask any questions they may have.

michael finocchiaro

a year ago

Incompetent and Unprofessional

Laurel Road mailed me an advertisement offering a lower interest rate on a refinanced student loan. I immediately uploaded all requested documentation. The website kept asking for a second earner's documentation. I wrote back and forth with their reps explaining I did not have one. It was not until after I consented to the hard credit pull where I was informed I would not be offered the chance to refinance. I called within 5 minutes and they said they would not block the credit pull. I found them to be incompetent and unprofessional.

anonymous

a year ago

Doctor’s Loan - Mortgage (waste of time)

Got my mortgage doctor loan with this company, as well as a high-yield savings account, and it has been a complete nightmare. They pride themselves on providing a premium experience, but it continues to show problem after problem. Cannot make automatic payments, cannot add spouse to the account. There’s always a technical issue. Representatives can never help or resolve anything. Always need to involve management to get problems fixed. Have wasted hours on the phone and e-mail since my experience started with Laurel Road. A shame that it’s recommended by the ADA.

drew c

a year ago

Amazing customer service and rates

Amazing customer service and rates. I couldn't have asked for a better person to refinance my student loans through. I have a savings account with them and really enjoy the simplicity of their website.

benjamin klepek

a year ago

Laure Road Bank Mass Confusion

LaureL Road Bank Mass Confusion......Laurel Road Checking account account and Laurel Road router number process has not received Benjamin Klepek's Columbus City Schools Checks which were never deposited and this started over 10 weeks ago.... Columbus City School check sent for deposit again, Friday, May 13th 2022 never deposited. Please contact Columbus City Schools, Columbus Ohio and communicate why Laurel Road Bank has not deposited Benjamin Klepek's Columbus City Schools checks. I have sent this Laurel Road Bank feedback before and NO ACTION TAKEN. KeyBank is the account and router number provided and Laurel Road Bank what is your response to your customer, Benjamin Klepek ?

ditmari rolon

a year ago

Excellent I need information in my…

Excellent I need information in my email ty

disappointed doctor

a year ago

Doctor loan beware

AMA advertised Laurel Road resident physician loan with low monthly payment while in residency training to assist with cost of residency etc... unfortunately due to extenuating circumstances I went on authorized leave in good standing with my training program to care for my mother with terminal cancer. My training has been extended and I reached out Laurel Road/Key bank for extension of low payment while on training but Laurel Road and Key bank did not have an idea what the doctor/physician loan was ( in their end it was just personal loan) and did not know what to do. I was bounced back and forth ( with at least 1-2 hour hold) from Laurel Road and Key Bank (customer service to manager ) , told me they will look into it before the low monthly payment will end. I have missed months payment while waiting for their response and it became delinquent. Then I finally got contract to be attending to refinance loan , it was declined bec now I have delinquent payment from them of what used to be low payment of $25/monthly to $1,300/monthly, Then they offered only 4 months forbearance after 4 months which was useless.

hillary l.

a year ago

Great Company to Work With

I’ve refinanced with LR twice and each time it has been a breeze. Dealing with customer service has never been an issue, I always get my questions answered without any problems. I could not be happier with my choice to use them.

e “ej”

a year ago

Easy, quick, great rates

Easy to submit paperwork, fast communication, and excellent rates. Very happy to use them as a parent, so much so my daughter used them too!

jennifer

a year ago

It was super easy to apply to refinance

It was super easy to apply to refinance loans. Had no issues throughout the process. The underwriting process was a breeze. They needed one extra thing for my application and it didn’t seem to delay anything. I am very happy I refinanced with Laurel Road.

james johnston

a year ago

The rate was great

The rate was great, the process was simple, and the customer service was outstanding!

mike tonsor

a year ago

Untrustworthy

Untrustworthy. You can't trust their customer service agents. They are incompetent and untrained and will spew out inaccurate details on your account. The same bank account I have been doing autopay with for 13 months now mysteriously has an error on the account and/or routing number and my payment is delinquent. I got a letter that they reported me to the Credit reporting Agency. Also, they took away the interest discount and they're currently collecting more interest on my loan while they "investigate" and will "back pay" the money they're taking if the investigation shows an error on their part! They're horrible.

harsh patel

a year ago

Worst company for the mortgage

They work like working in 19th century. I started working for mortgage application since I had a nice experience about student loan refinance with it. When my offer got accepted, I started processing with them from Day 1. They took almost 4 weeks to get appraisal value done. Finally, I got appraisal with huge difference in value (More than 50K). Then say, we can't adjust anything about appraisal even appraisal revision with other appraisal agent. Not good online system to track the steps. It was headache to process everything and ultimate zero outcome. In last, I have to go to different lender who helped me in processing everything in 10 days to closing and it was completely smooth transition. Please don't go with zero down payment or zero PMI for doctors. There are many lenders in market who offers good rate and benefits to doctors. You will end up with loosing your dream house with their slow system and being helpless in end.

virginia mike

a year ago

Run far away from this company!

2 months ago I closed on a mortgage. According to the site I should have gotten a letter explaining how to make online payments with a payment coupon. never came. On the site it also says they will respond in 24 hours. I have well over a dozen attempts at contacting them with no responses back. Over the phone twice I was told a manager would contact me. Nobody contacts me. The chat on the webpage doesn't work. When i call I get sent to nobody that can help and they say they will have someone call me. Not a single time has anyone called back to answer my question. RUN AWAY!

john b

a year ago

easy to apply great rates

easy to apply great rates, and fast closing

virginia mike

a year ago

Not as advertised

Laurel Road was in charge of doing the appraisal on my house. They chose someone who came to my house, did the appraisal, and never submitted the appraisal. No one could get in touch with him and weeks were wasted before they did anything at my request. I had to constantly remind my mortgage advisor to apply promised discounts.On top of that after finally closing, I was told within 45 day of my mortgage, as advertised by you, that I would receive a letter on how to set up payments and have a coupon for my first payment. This never occurred and despite multiple attempts at contacting you, via email and phone, this still has not occurred. In addition you say that you will get back to me within 24 hours, it has been several weeks. I was also told that you have lost my multiple messages trying to contact them regarding my questions. You said someone reached out to me and my concerns were taken care of and that is NOT true at all! What a joke. Don’t lie in your response, it’s not a good look. I don’t even think it’s legal. Do something or don’t bother responding at all.

ryan

a year ago

Easy and quick process

Easy and quick process! Also wonderful customer service when I did call with a few questions! Great overall experience!!

kevin shin

a year ago

Great

Great! Very fast and helpful.

anonymous

a year ago

I have had a very poor client…

I have had a very poor client experience with Laurel Road. I refinanced my loan with them and it was not a seamless process and when a mistake/misunderstanding was made it was not corrected and I was told "I'm sorry there is just nothing we can do" in a very rude way and I had to pay the difference. I would not recommend this company to a new graduate. There are likely better companies out there with better customer service. As a student with a large amount of debt the last thing you need a private loan company robbing you of more money.

nicolette baker

a year ago

Student Loan Refinance

I've been trying to refinance my student loans for a very long time. Laurel Road was the first company that offered me a reasonable rate. I was able to apply 100% online and completed the entire process from beginning to end in less than a month. I had a few issues with submitting documents because I recently had my name change. I called customer services and they were able to assist me and resolve the issue within a few days. The process was amazing. Way better experience than with my previous lender.

daniel pace

a year ago

Helpful, Efficient, Friendly

My issue was quickly resolved with step-by-step instructions! I will highly recommend Laurel Road to others!

chase derrick

a year ago

I recently refinanced my student loans

I recently refinanced my student loans. I did an extensive search with multiple lenders and they consistently had the lowest rates. Their customer service which I used many times through the process is very responsive and helpful. I have already recommended them to multiple colleagues and friends.

morgan

a year ago

Laurel Road has made refinancing my…

Laurel Road has made refinancing my dental school loans easy and has eased the anxiety these loans give me. Their website is easy to use and if I need to speak with someone, I never have to listen to automated messages on the phone. I tell all my friends with large student loan debt to look into Laurel Road because they will change your life and your perspective about your loan debt. Thank you Laurel Road!

christine thomas

a year ago

Very good loan process

Very easy to apply for a loan. Clear communications from Laurel Road. Very good website. Easy to use. Highly recommended.

abdulquadri olawin

a year ago

I really love you guys and your…

I really love you guys and your customer service. I've referred a number of my friend to your loan service. Thanks so much for the excellent refinance rate, lowest I've ever seen.

latisha qian

a year ago

Easy process and great rates

leroy turner

a year ago

Refinancing with Laurel Road was one of…Best experience ever

Refinancing with Laurel Road was one of the best experience’s I’ve had since I began several years ago. The time it took from start to finish was exceptionally fast. The rate was the best in the industry. I would recommend Laurel Road student loan refinancing in a heartbeat!!!

customer

a year ago

Laurel Road was very helpful...

Laurel Road was very helpful in giving me a loan rate and schedule. Responses were quick and easy to understand. They also offer lower rates than a lot of other companies out there. Their website is very easy to maneuver, and making payments is convenient and quick. I would highly recommend Laurel Road.

cameron kornegay

a year ago

Thumbs Up!

I thought the whole process was really easy and I was very impressed how quickly it all happened!

rachael davalos

a year ago

I had an excellent experience

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