Sorry I did not look up this earlier. 5% interest on their checking account for up to $10,000, as long as you direct deposit at least $100 and make fifteen transactions monthly:
https://www.northpointe.com/banking/...timateaccount/
RedPoint, did we discuss this before? I remember something about 50¢ Amazon gift cards.
Prosper.com says they have an average return of 7.57%, the average credit score and annual salary is above the national average (better risk?), and have helped finance almost $10 Billion since 2006.
Huh.
This chart looks far better than the second image:
You know, I really like data, and I do not feel they are giving much of it. Percent of charge-offs per category would be very useful.
Quote:
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*Estimated returns are calculated by (i) taking the weighted average borrower interest rate for all loans originated during the period, adding (ii) estimated collected late fees and post charge-off principal recovery for such loans, and subtracting (iii) the servicing fee, estimated uncollected interest on charge-offs and estimated principal loss on charge-offs from such loans.
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The easiest way for me to find information beyond their main page was actually to apply for a loan. I think they offered me $12,000 at 8.65%.
I can always try asking...
I had not seen this:
Quote:
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*For example a three-year $10,000 loan with a Prosper Rating of AA would have an interest rate of 5.32% and a 1% origination fee for an APR of 5.99% APR. You would receive $9,900 and make 36 scheduled monthly payments of $302. A five-year $10,000 loan with a Prosper Rating of A would have an interest rate of 7.69% and a 5% origination fee for an APR of 9.88% APR. You would receive $9,500 and make 60 scheduled monthly payments of $201.28. Origination fees vary between 1%-5%. Annual percentage rates (APRs) through Prosper range from 5.99% APR (AA) to 35.99% APR (HR) for first-time borrowers, with the lowest rates for the most creditworthy borrowers.
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So, you could have perfect credit, and they still charge you 5.99% APR.
That does not sound great to me, but people are going for it.