View Single Post
Old 09-20-2017, 11:32 AM   #15 (permalink)
Xist
Ecomuggler
 
Xist's Avatar
 
Join Date: Jun 2012
Location: Mesa, AZ
Posts: 6,409

Chorizo - '00 Honda Civic HX, baby! :D
90 day: 34.82 mpg (US)

Mid-Life Crisis Fighter - '99 Honda Accord LX
90 day: 37.34 mpg (US)
Thanks: 3,703
Thanked 1,149 Times in 859 Posts
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:
*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.
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:
*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.
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.
Attached Thumbnails
Click image for larger version

Name:	Prosper.png
Views:	121
Size:	23.8 KB
ID:	22719  Click image for larger version

Name:	Prosper 2.jpg
Views:	112
Size:	11.6 KB
ID:	22720  
  Reply With Quote