$50 Lending Club Sign-up Bonus

Lending Club is a peer-to-peer (P2P) lending platform. The concept is pretty simple, instead of borrowing money from a bank, you borrow money from lenders on Lending Club. Pretty simple.

I've joined Lending Club and think you might want to hear about it.

Lending Club brings together individual investors and well-qualified borrowers who want fair credit (for everything from paying off high-interest credit cards to growing a small business).

With Lending Club you can diversify across many borrowers with good to excellent credit ratings. Lending Club lenders have earned annual returns that average over 9% in the past 18 months. Borrowers with excellent credit have been able to borrow at rates as low as 7.88%.

I have a word of advice, P2P lending is not a risk-free way to earn extra income. Always know your risk before bidding on any loan. If you stick with loan with higher rating (A level), you are more likely to come out ahead. I guess I don't need to remind you what got us into today's credit crisis mess, yes, all the sub-prime loans that the banks made. To me, P2P lending make sense, profit people directly instead of banks' CEOs.

Click this link to sign-up to become a lender (NOT borrower) through my referral and get $50 cash bonus. FYI, I don't get anything from this. You can take the $50 and run, or you can make 2 loans (for free) and try Lending Club out (Lending Club has a $25 minimum to bid on a loan). But if you decide to become a borrower and take advantage of the low rates, I get $25. Win-win. Sweet deal!