Free Money From LendingClub


By Carlos Portocarrero

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I’m always up for new ways to diversify my investments and for new ways to get my money to work for me. And peer-to-peer lending (instead of lending through a bank, you lend directly to people that want loans) always struck me as a great idea, but I never got over the fear of getting scammed.

What if a lender defaults on his/her payment? Not being covered by things like FDIC insurance or any other body that would protect me is one of those things that keeps people away from P2P.

But I recently got a $50 referral to join Lending Club. It was totally free and that’s the only reason I’m playing around the site now, experimenting with P2P for the very first time.

lendingbanner

I’m actually kind of embarassed to be this late to the game because this has been around for a while and I’m only now playing around with it and learning by doing. Fifty bucks isn’t much but it’s something and I’m mainly going to use it to teach me the basics of P2P and to see if this style of lending has a future or not.

If you also want to try LendingClub, I can send you a referral so you can get your free $50 in your account and start playing around with it. Just email me and I’ll send you the link. I’ll get $25 and then you’ll be able to start referring people and making money yourself.

Here’s what it looks like:

referrals

Why not try it out for yourself to see what all the fuss is about?


5 Responses to “Free Money From LendingClub”

  • the weakonomist Says:

    If I didn’t already have an account I would ask for the link. Lending club is doing a great service for people.

    I haven’t yet lent any money, but when I have a few extra bucks I will. Sometimes I like to just browse the site and see what people are trying to get money. As someone who is getting married this year, I have a soft spot for people trying to pay for their own wedding.

  • Forest Says:

    Good luck. I haven’t had much success with Prosper (before they stopped taking loans). I made about 30 loans last year and I’ve had 4 defaults with another 2 people currently late. But, you never know…so good luck.

  • Kevin Says:

    I think this is an interesting concept! Thanks for pointing it out. (You’ve got mail.)

  • Roger Says:

    Heh, I’m actually applying at Lending Club (waiting for the response email, right now) as we speak. It looks interesting, and hopefully we’ll both come out of it ahead.

  • Lending Club Adventures | The Amateur Financier Says:

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