These are my top recommended credit cards for this month. Some have $450-550 annual fees waived exclusively for US military personnel.

The editorial content on this page is not provided by any of the companies mentioned, and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are author’s alone.

Lending Club continues to grow month after month, with over $1.5 billion in originated loans since 2007. Here's the 6 best Lending Club reviews I've found from around the web:

  • How I am Investing in Lending Club in 2013 – Peter at Lend Academy talks about his investment strategy for 2013, which is a good introduction to expanding beyond the built in filters in Lending Club. Peter has been investing in Lending Club since 2008 and I would consider his returns and experience to be the most authoritative on this list.
  • The Economist on Lending Club – the stalwart British publication The Economist examines the growth of peer to peer lending in the US and Europe.

lending-club-logo

  • The Lending Club Experiment – Mr. Money Mustache is a relative newcomer to the peer to peer lending game, opening his LC account in September of 2012.
  • Beat the Market Experiment – Jonathan at My Money Blog invested $10,000 in Lending Club and is tracking his performance every month, comparing it to investing in Prosper (another P2P lending site) and the stock market

I've found these six reviews to be the most authentic and genuine.

Take the returns people are posting with a grain of salt, as most defaults/charge offs don't happen until after the first year of investing. This will drop the 16-19% returns some bloggers are reporting back to the average 6-9% returns most Lending Club users report.

Best Lending Club Reviews From Around the Web

AMEX Platinum With NO Annual Fees for US Military

Military SCRA MLA AMEX Platinum

Military servicemembers and spouses can get the American Express Platinum with NO annual fees.  Pick up your military annual fee waived card here!

Learn more about the AMEX military fee waiver.

The AMEX Platinum offers:

  • $550 Annual Fee WAIVED for US Military (and spouses)!
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  • $200 airline fee credit
  • Centurion Lounge and Priority Pass Airport Lounge Access
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These benefits make it my top recommend card.

If you already have an AMEX Platinum card, check out the other AMEX cards, Chase credit cards, and this month's top recommended credit card bonuses, most with no annual fees for US military personnel.

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8 thoughts on “Best Lending Club Reviews From Around the Web

  • September 26, 2013 at 07:58
    Permalink

    Spencer –

    I believe that from the investor’s perspective the LC system is now broken. I have 2 years and ~$18k invested in an LC retirement acct.

    Long story short, LC now requires more care and feeding than a Rental Property. I’ve posted some details of my experience here: http://wp.me/p2Nyqo-hA

    Reply
    • September 26, 2013 at 13:02
      Permalink

      Thanks for stopping by, GubMints. Until LC adds automatic investing, it does take some effort to get your cash reinvested. The good times of easy investing that we saw back in the beginning of LC are definitely over. However, LC is barely beginning to scratch the service in the loan market. As they expand their pool of borrowers (mortgages, student loans, etc), we’ll see the opportunities for investors to start coming back. That may still be a while.

      Reply
  • May 2, 2013 at 18:44
    Permalink

    I don’t have tons of money to invest yet so my sample size is pretty small but I’ve been putting a little bit of money into prosper and lending club. So far the returns have been fantastic but at some point I know the defaults will start to hit. Probably not as good as some of these but here is my writeup: Lazy American Lending Club

    Reply
  • April 7, 2013 at 10:54
    Permalink

    Thanks for including me on your list. I agree that it is very important for new investors to take their early returns with a grain of salt. It can be very exciting to see returns of 16% or more but no one earns that over the long term. I think 12% is quite possible over the long haul if you are very strict with your filtering and are also lucky.

    Reply
    • April 7, 2013 at 23:21
      Permalink

      Peter – thanks for your long term perspective. It’s encouraging to see investors with double digits returns, especially after my poor performance over the past two years. Now that I’ve adjusted my strategy, I hope to start closing in on the 10+% you’re seeing in your portfolios.

      Reply

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