(Update – as of today – 10 April 2009 – I just saw the $50 bonus posted to my account, so it takes a while but it does get there. Just thougth I’d mention that!)
Another update – as of 14 May 2010 – Some of my original loan investments have been paid back, and that money is reinvested. I’m also earning interest. So it looks good to me!
Ok, the following is based on a generic invitation. SO if it doesn’t sound like me, that’s why! I’ll write my personal notes at the end ok? Oh, and I’m the LAST person you probably should ever listen to any investing advice ok? Just saying this is something I’m checking out, and I thought I’d share it. I’m starting very small, if you choose to to this, don’t go selling the farm ok? 
Carlin
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I’ve made an investment with Lending Club and want to share a few details about what they do.
Lending Club enables individual investors and well-qualified borrowers to get better rates than with banks or credit card companies. Their straightforward, online approach operates at a cost much lower than the big banks.
It’s no secret that banks are now charging people with good to excellent credit 15%-25% interest for loans and credit card debt.
Lending Club offers a better alternative with a simple and transparent model that leverages 50 years of credit default trends to set interest rates.
The result is that Lending Club facilitates loans at an average rate of 14% — a lower rate than most creditworthy borrowers pay on their credit cards today.
And Lending Club investors have earned an average of 9.05% in the last 20 months. That’s because when you cut out the costs of traditional financial institutions’ overhead and complexity, you end up with a better rate for borrowers and better returns for investors.
Because you were invited by me, Lending Club will give you a $50 bonus when you sign up to become an investor. If you check it out, can you let me know what you think?
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Ok, I’m back
Today I created my account with Lending Club. I joined based on a recommendation of a person I know through Twitter and her blogs, so I don’t know her personally. How ever, I have heard several mentions of Lending Club. So, don’t go pouring your life savings in here based on my recommendation ok? For the sake of disclosure, I started my account with $25, and will probably add more later. Start small, what you feel comfortable losing if it goes horribly wrong ok? For the rest of the info, check the site, or drop me an email. I’m no expert here ok? Fair enough?
Also, I just signed up a couple hours ago, and have not yet seen the Bonus money added to my account. It may take time to process. If I remember I’ll come back here and update when it does get added ok?
This link is my special “affiliate” or “referral” link. If you click it and sign up, I get credit for sending you. If you don’t click it, no body gets the referral. Fair enough?
Thanks for checking it out, and if you do decide to join the club, let me know, ok?
Carlin
Follow me on Twitter! @carlincomm
