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Just out of curiosity I did the "check my rate" form for both Prosper and LC. Prosper said my credit score is too low (it's around 725...) and LC offered a rate of 20.99% (I have credit cards at half that). I wasn't expecting the advertised rate of 6.xx% but drat that was high. But I am pretty intrigued by the investing side of LC so I may start with a few notes over the summer.
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Jun 18, 2013 13:57
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It bums me out that as an employee of a broker dealer I can't use LendingClub or Prosper. Would love to try it out.
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Jul 10, 2014 16:44
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Lelorox posted:Company rules? Do they block it because they don't want you playing with the competition. Yeah company rules but pretty common among broker dealers. Employees are allowed to open outside accounts only on eight or ten approved trading platforms like Fidelity or MerrillEdge. I don't ever see my company approving LC or Prosper. Not because of competition, but these approved platforms send my trades to my compliance department. For what it's worth though I was just at a JPMorgan asset management conference this week and they see this p2p lending as one of the next big things in the investing world.
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Jul 11, 2014 16:14
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The earning potential for an investor are much more attractive than parking your money in a savings account or CD and letting the bank lend it for you.
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Jul 11, 2014 19:32
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