Author Topic: New Prosper P2P Investors: Get 1% Cash  (Read 6822 times)

Honest Abe

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New Prosper P2P Investors: Get 1% Cash
« on: December 27, 2012, 06:46:14 PM »
Hey Mustachians,

I've been investing some money in P2P for a while and have had a great experience with excellent returns. Below is a link for 1% cash back on any investments you make in the next month or so:

http://tinyurl.com/ch6qnva

Full disclosure: I also get 1% cash back for referring new investors. :) Anyhow if you're looking to get started and would like a nice 1% cushion to your returns be sure to use the link!

-Abe

chucklesmcgee

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Re: New Prosper P2P Investors: Get 1% Cash
« Reply #1 on: January 04, 2013, 06:57:51 PM »
Prosper's great. I didn't even realize they had sent out that referral link! Well you claimed this board, so good for you.

arebelspy

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Re: New Prosper P2P Investors: Get 1% Cash
« Reply #2 on: January 04, 2013, 09:03:01 PM »
I don't care for Prosper at all. If I were doing P2P lending it'd be on Lending Club.

Previous Prosper discussion on these forums here: http://www.mrmoneymustache.com/forum/investor-alley/anyone-have-thoughts-on-prosper-com-or-similar-lending-sites/
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Jack

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Re: New Prosper P2P Investors: Get 1% Cash
« Reply #3 on: January 04, 2013, 09:22:52 PM »
I don't care for Prosper at all. If I were doing P2P lending it'd be on Lending Club.

Under certain conditions, it's possible to be eligible to open a Prosper account but not a Lending Club account. Is Prosper so bad that you'd forgo P2P lending entirely rather than invest with them, if you had no other choice?

arebelspy

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Re: New Prosper P2P Investors: Get 1% Cash
« Reply #4 on: January 04, 2013, 09:25:03 PM »
I don't care for Prosper at all. If I were doing P2P lending it'd be on Lending Club.

Under certain conditions, it's possible to be eligible to open a Prosper account but not a Lending Club account. Is Prosper so bad that you'd forgo P2P lending entirely rather than invest with them, if you had no other choice?

Yes.

I wouldn't do business with them under any circumstances.  The only company I can think of off the top of my head like that, though there's probably 2 or 3 total.
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chucklesmcgee

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Re: New Prosper P2P Investors: Get 1% Cash
« Reply #5 on: January 08, 2013, 03:30:26 PM »
Well they've been just dandy for me. Just cracked the leaderboard! I'm in the top 250 investors now.

Honest Abe

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Re: New Prosper P2P Investors: Get 1% Cash
« Reply #6 on: January 08, 2013, 05:57:03 PM »
Well they've been just dandy for me. Just cracked the leaderboard! I'm in the top 250 investors now.

Whaaaaat where is this leader board?

chucklesmcgee

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Re: New Prosper P2P Investors: Get 1% Cash
« Reply #7 on: January 10, 2013, 10:38:52 AM »
Well they've been just dandy for me. Just cracked the leaderboard! I'm in the top 250 investors now.

Whaaaaat where is this leader board?

It's not official, but I did ask Prosper to add it in to their own site.

http://www.prosper-stats.com/TopLenders.jsp

Honest Abe

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Re: New Prosper P2P Investors: Get 1% Cash
« Reply #8 on: January 10, 2013, 06:46:02 PM »
Wow, congrats! I'm in the 8000's somewhere. :)

yolfer

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Re: New Prosper P2P Investors: Get 1% Cash
« Reply #9 on: February 06, 2013, 03:23:49 PM »
I don't care for Prosper at all. If I were doing P2P lending it'd be on Lending Club.

Under certain conditions, it's possible to be eligible to open a Prosper account but not a Lending Club account. Is Prosper so bad that you'd forgo P2P lending entirely rather than invest with them, if you had no other choice?

Yes.

I wouldn't do business with them under any circumstances.  The only company I can think of off the top of my head like that, though there's probably 2 or 3 total.

Please explain why! I'm a LC guy myself but I've never heard someone with such a strong negative reaction to Prosper. So now I'm curious...

arebelspy

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Re: New Prosper P2P Investors: Get 1% Cash
« Reply #10 on: February 06, 2013, 03:41:25 PM »
Please explain why! I'm a LC guy myself but I've never heard someone with such a strong negative reaction to Prosper. So now I'm curious...

Oh there's plenty of us out there, such as my old pal Urbi, who is the named plaintiff in the class action suit that is ongoing against them.

Basically it boils down to their continual poor business decisions and their willingness to screw the actual customers (the lenders) over and over.

I wouldn't trust them with a wet noodle.

I don't mind the P2P concept in theory (though I think in practice it is overhyped in a search for yield; most intelligent investors tend to avoid it from what I've seen) and think it could be worth a small portion of one's portfolio.  But Prosper?  Ugh.

Enough said?  :)
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illy5603

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Re: New Prosper P2P Investors: Get 1% Cash
« Reply #11 on: March 18, 2013, 11:22:32 AM »
I am with arebelspy on this one. I was one of the early lenders on prosper and' percentage wise, I took a bath. Fortunately I was dealing with small loans, one toe in the water, so actual dollars lost was not that bad.

The whole thing at the time seemed fishy, almost like my borrowers weren't even real or their credit worthiness was not vetted correctly. Also, their monthly statements and tax documents were always really shoddy looking, almost sub quick books in appearance. Maybe that has changed. Anyway, bad experience and I will never do business with them again.