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| PLW recommends Lending Club |
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New investors who sign up via this link
earn a $25 bonus from Lending Club |
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Tell Friends
Everybody is either a borrower or an investor, and many are both! |
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| Yes! I would like to receive a quarterly analysis of peer lending site performance |
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Good Credit? There is No Credit Crunch in Peer Lending! |
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Peer lending through the best institutions is for people with good to excellent credit based on FICO scores and your overall amount of debt relative to your income. People with great credit scores and without a too many existing loans will typically be approved. |
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Rates are Typically Better than Bank or Credit Card Companies' Rates |
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This is possible because Peer Lending has eliminated most of the overhead that banks have, and hence, is able to pass that savings to customers. That savings is represented in the rates. Borrowers may find that the lowest rate available from their bank is 17.5%, and the Peer Lending rate is $9% to 14%. Lenders may find that they best CD they can get is 2.5%, but they can earn a return of 7% to 13% from that same borrower. |
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Your Credit Card Balance is the Quiet Savings Killer |
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Most people do not realize what they actually pay their credit card companies for balances that are carried month to month. There is a stated rate, which can be increased at any time for a number of somewhat questionable industry practices. One practice is called "Universal Default", and means that a delinquency on one card can be discovered by another card company, and that second card company then raises your rate even though you have always paid on time! Millions of people are paying over 20% interest and fees. By taking out a Peer Lending loan for $5,000 at 13%, you save $500 dollars per year versus a credit card rate of 23%. Pay over time or pay it off, either way, you should be refinancing credit card debt and invest that money you save. |
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A Lending Club Bonus - Invite Friends and Lending Club Pays You When Your Friends Borrow |
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One of the big benefits of Lending Club is their tiered referral program. This allows members to invite their friends, and when the friend borrows, they get a referral fee deposited into their account balance. Interestingly, when the people you invite invite a 2nd tier of friends, you get a fee when the 2nd tier borrows. And it works again for the people they invite, so you are paid three tiers deep for referrals who borrow through Lending Club. It is entirely possible for somebody to borrow $5,000, and then through a process of inviting friends, have several thousand dollars deposited into your account by Lending Club. You just may cover all the interest you owe, effectively getting an interest-free loan! |
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 2009 Rosso Cavallo, inc. All rights reserved. The peerlendingwealth.com site, and its parent company, Rosso Cavallo, Inc. make no warranties, expressed or implied. Financial investing involves risk by nature and you need to evaluate your options with your own financial advisors. Questions or comments can be addressed to info@peerlendingwealth.com |
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