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That seems awfully high for an interest rate. My credit wasn't much better in 2014 when I took out a similar-sized personal loan, and I only had 6% interest on
by douche 10y ago
That seems awfully high for an interest rate. My credit wasn't much better in 2014 when I took out a similar-sized personal loan, and I only had 6% interest on it.
- pc86 10y agoIt is, but remember these are all unsecured loans without income verification, and both LendingClub and the investors are taking a piece of the profit. Both LC and Prosper now offer 6% loans to 720+ FICOs with the (unverified, as the FA states) income to support it. The lowest may have been 10-12 back then but I remember being surprised because it was less than half my CC rate and I was expecting high teens. I was using it for CC consolidation so really anything below the ~28.99% I was paying was a pretty big win.