brianguy

don't bother, you'll be denied and the hard inquiry will only make your credit look worse for now. keep building your credit in other ways.

you sir, are a rare rare case. I've had a 719 and no serious delinquencies and Discover has denied me every year.

other commenters in the 730-760 range seem to have had some similar experience. I'd stay away from them and go with someone else, at least for now,unless you have an 800 score.

I found one other Capital One card that has no annual fee and is designed for "good" credit, which is one step below "excellent". you might want to look into that option too.

I think you're right, there is a fee. this may be a recent development, I didn't see the "no fee" comment however.

It says $25 but I just got $50 for signing up with this link. And I already had accounts with Sharebuilder, so you can still take advantage of this regardless if you're already investing there. It will simply create a new account and you'll get the bonus a few weeks after your first deposit.

I currently have a -2.66% projected return over the full 3 year term of my loans made by lending through Prosper after about 15 months. Also, keep in mind that I am doing a LOT better than most people did.

I invested in average B+ better with my 29 loans made.

I agree with others that it doesn't matter the credit risk listed, I have a very high % of A and AA (between 60-80%) that defaulted on their loans and haven't paid back any of that. Further, the collection channels they've set up on Prosper are useless.

Divide quoted rate by 3 to see actual.

CharCasa: why thumbs down? click wrong button??

randyeich, click the wrong button or what?

to the fellow that said refinancing his 4-year old car loan would lower his DTI, this is only marginally correct. refinancing will barely put a dent in his DTI, since he already owes the interest accrued over the first 48 months which is when the vast majority of interest accrues. however, his monthly payment would be lower which is more about cash flow.

also, the criteria for borrowing through LendingClub is contingent on your current credit standing, not future credit standing. you do have to have "very good" credit or better.

as far as LendingClub being a good deal for lenders or not, even though I clicked Yes, let the buyer beware!! I have lost money on Prosper.com loans before, even with careful screening. but if you study it very closely there are worse investments out there. savings I-series bonds have been some of the better rock solid ones out there with no risk of capital. LC, stocks, bonds, etc do not offer the same sort of guarantee.