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Get 5% Cash Back From Lending Club

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This news may be a little old to some, but it looks like Lending Club is trying to bring in more lenders. If you lend $5000 or more before the Super Bowl, they'll deposit 5% in your account for you. (Okay it's not really before the Super Bowl, you've got the whole day of Feb 3rd for the deadline).

Before you run off to do this, think about how much of your portfolio should be invested in peer-to-peer lending. If you are going to take advantage of this and go in with $5000, I would hope that you have a six-figure portfolio that is balanced in other asset classes. If that is indeed the case, this may be a great to get started in peer-to-peer lending. That 5% bonus is a great hedge against the downside of defaults. If you pick a conservative portfolio, I could see it return 12-13% without an extremely amount of risk.

If you want to get started, I urge you to go through this Lending Club link. You'll get an additional $25 to start (I believe $50 if you deposit $1000 or more) lending - and I'll get a matching bonus as well.

Last updated on August 1, 2011.

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P2P Lending

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5 Responses to “Get 5% Cash Back From Lending Club”

  1. Hmm, with a 5% buffer, it just might be worth it. Tempting ;)

  2. Brip Blap says:

    It’s tempting, but $5000 out in P2P loans is a bit rich even for my six-figure portfolio… but I do give them full credit for an aggressive marketing ploy.

  3. MoneyNing says:

    Hmm… that would mean $300 for a $5000 investment up front. Might be worth a shot.

  4. I was thinking about it, but $5,000 seems like a lot of money to drop into P2P loans in such a short period of time. Besides, I have been intending to implement an investment strategy to attempt to replicate S&P 500 returns at lower volatility that would require about $5,000 to get started.

  5. Peer-Lend says:

    There’s no reason you can’t make money on the deal – just bring your own trusted borrower(s) with you…

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