Who else has tried LendingClub?
By emconnors
@emconnors (9)
United States
May 12, 2011 11:08am CST
I've been looking at and reading about LendingClub for a long time now -- it's like being a banker. People post that they need loans, and investors can give them money in $25 increments. I've heard it's a lot safer and more profitable than other kinds of investing. I put in $25, just to see, and so far I've made 19 cents, but the person has three years to pay off their loan. I don't know when I'll get my whole $25, but I know it takes time.
I think if you invest a lot of money and spread it out between different people, you can make more money faster.
Has anyone tried it or heard of it? Any strategies? Do you like investing in higher risk people or people with better credit?
3 responses
@devils_nani (629)
• India
12 May 11
These sites are really a waste of time. Over the Internet you dont have a good identity so if you give any money you dont expect that you get the money back. any one can scam you. you cannot even trace them. so this is a big risk.
@emconnors (9)
• United States
13 May 11
The website screens people really well -- they won't give loans to just anybody asking for one. That's what makes it so cool, I think. Plus, I really haven't been able to find anything bad about it -- good reviews across the board.
@o0jopak0o (6394)
• Philippines
13 May 11
Nice idea but don't know whats the guarantee that the person will really pay.
@DoctorDidi (7018)
• India
12 May 11
Never heard before of Lending Club. But I believe it is not wise to invest such a huge amount on any site which is unknown to most of the internet users or at least not popular at all.
