I’ve posted a couple Lending Club reviews here before, along with the occasional progress report. The last thing I want to do is bombard you with updates on my Lending Club portfolio, but since an opportunity came along to help you earn $50 just for signing up, I thought I should mention it!
Between now and August 15th, those who sign up to invest with Lending Club and use the referral code “FrugalDad” will receive $50 to add to their portfolio. You must use the referral code to receive the $50 bonus.
My own small portfolio of loans is still moving along nicely, with a net annualized return of 11.21% (try beating that in this market!). In fact, as of August 7th, 2009, the average net annualized return for Lending Club lenders if 9.61%, so I guess that puts me a little above average.
I know from previous reviews of Lending Club that a number of you are interested in their service, but weren’t quite ready to take the leap to invest. I understand, as that’s how I felt for a long time. However, as my frustration with traditional banking and investing grew, the market volatility continued, and my overall desire to diversify investments increased, I became more and more attracted to a service like Lending Club.
Here’s a few advantages of investing with Lending Club:
- Since June 2007, Lending Club investors have earned an average net annualized return of over 9%.
- Lending Club approves only creditworthy borrowers as members.
- Simple investing process: Open an account, deposit money, select loans, collect principle repayments and interest.
I invite you to check out the features at Lending Club. Take advantage of this limited-time $50 bonus offer by signing up before August 15th, 2009, and be sure to enter the referral code “FrugalDad” during registration.
Disclaimer: My previous mentions of Lending Club have included affiliate links, but this one does not. If you do choose to invest, I won’t make anything from your sign up, and you’ll get $50. I will earn a referral if you decide to sign up as a borrower, and once you are a member, you will have the same opportunity to refer others.