Comments on: Lending Club Review

By: greg g

greg g — Sat, 13 Mar 2010 09:32:45 +0000

After three months on lending club, i am very happy with the results. i have over 50 notes now, and all of them are performing and current. My net annualized return is over 10 percent and im focusing mainly on A B and C quality loans (lending to people with good credit history and income). I recommend Lending Club to anyone who can tolerate a moderate amount of risk, and wants to diversify away from an ever increasingly volatile stock market.

By: greg g

greg g — Sat, 13 Mar 2010 09:30:51 +0000

Theoretically i guess you could borrow money at a low rate and then use it to lend to people at a higher rate, but theres one flaw here. Lending club lenders often ask what the money will be used for (they almost always ask this). In fact the title of the note almost always contains a description of how the money will be used. The borrower would theoretically have to lie. I cant see many people wanting to lend money to someone who will use it in this manner.

By: Jack

Jack — Sun, 14 Feb 2010 23:21:15 +0000

Nice review, DebtKid. How are your loans performing now, almost two years after you started? It seems like for borrowers, Lending Club is a no-brainer if the interest rates are better than anywhere else. Investors have a little more to think about before jumping in, but it seems like Lending Club is quickly becoming the leader in social lending.

By: Wolf73b

Wolf73b — Sun, 14 Feb 2010 20:26:36 +0000

If you have a net worth in excess of a million dollars, but think that borrowing a few thousand bucks, in order to earn 5% is worth the risk then you probably inherited your money. Not a bright move. However, if it is a decision between the market, savings, and Lending Club, diversifying a bit (heavy emphasis on a bit) of your cash into Lending Club is not a bad strategy. I find that the metrics actually make Lending Club as safe a bet as the market–perhaps safer.

By: Why Do We Get Into Credit Card Debt?

Why Do We Get Into Credit Card Debt? — Mon, 18 Jan 2010 21:52:12 +0000

[...] is another post in my series about busting debt, in partnership with Lending Club. I wrote about the 9 rules to follow to get out of debt [...]

By: 9 Rules To Get Out Of Debt | Finance Blog

9 Rules To Get Out Of Debt | Finance Blog — Wed, 06 Jan 2010 12:45:01 +0000

[...] only exception being if you’re consolidating your debt with a loan from Lending Club for example. Even then, you must payoff your cards with that loan and nothing else! Be [...]

By: 11 Alternative Investment Options for 2010 | Finance Blog

11 Alternative Investment Options for 2010 | Finance Blog — Wed, 06 Jan 2010 12:44:09 +0000

[...] a big fan of social lending. I have a small account funded at Lending Club, and so far, my returns have been great, just over 8%. Heck, I even worked part-time at Lending [...]

By: Bust’ A Debt | Finance Blog

Bust’ A Debt | Finance Blog — Wed, 06 Jan 2010 12:41:15 +0000

[...] participating in the Lending Club Debt Buster challenge. They are giving away goodie bags to anyone who commits to paying off or down [...]

By: 11 Alternative Investment Options for 2010 | Credit Guy

11 Alternative Investment Options for 2010 | Credit Guy — Tue, 05 Jan 2010 08:41:19 +0000

[...] a big fan of social lending. I have a small account funded at Lending Club, and so far, my returns have been great, just over 8%. Heck, I even worked part-time at Lending [...]

By: 11 Alternative Investment Options for 2010

11 Alternative Investment Options for 2010 — Mon, 04 Jan 2010 11:17:39 +0000

[...] a big fan of social lending. I have a small account funded at Lending Club, and so far, my returns have been great, just over 8%. Heck, I even worked part-time at Lending [...]