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In the next few weeks one lucky winner will become Lending Club’s 25,000th registered investor. To celebrate this milestone, the 25,000th registered investor will receive $2,500 cash.
In order to receive $25 free to invest at Lending Club, type in this “Referred by” code when registering: rcthinkwealth. You will get $25 free to try out Lending Club, as well as have a chance to win $2500 if you are the 25,000th investor.
The winner will be announced on the Lending Club blog after October 1st. For contest details visit the Lending Club Terms & Conditions page.
What is Lending Club ?
Lending Club is a Peer to Peer Lending site, also known as person to person lending or social lending. People can either lend or borrow money, without using a financial institution, such as a bank. The advantages are that a borrower can usually get a better rate than they would from a conventional loan through a financial institution, but at the same time, a lender can get much better returns that they would through normal investment channels such as a savings account. For example, Lending Club investors currently receive an average annualized return of 9.64%. The rate of return depends on the risk level (credit score of borrower, etc), as one would expect. However, borrowers must still qualify for the loans, and must have a minimum FICO score of 660, along with meeting other criteria. For more information, see Lending Club’s FAQ page.
As with any investment, there are risks, but receiving $25 free to try out investing with Lending Club seems like a no-brainer to me. In fact, I signed up for Lending Club a few weeks ago with a $25 bonus, and funded a loan with it. Unfortunately, I missed out on the chance to become the 25,000th investor, but you still have chance to win. I am going to discuss my experiences with Lending Club more in the near future.
For your $25 free to try out lending Club, use referral code: rcthinkwealth
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{ 2 comments… read them below or add one }
Good post. And I encourage folks to click on your links to Lending Club to learn more.
For those who want to learn more, I recently interviewed Lending Club’s CEO Renaud Laplanche to answer a bunch of questions that most people have about Lending Club – you can listen to that interview at http://www.growthink.com/content/interview-renaud-laplanche-founder-ceo-lending-club
Thanks for the info! I am new to Lending Club, so it is always good to hear from someone who knows a bit more!