jaybird201

it's basically a bait-and-switch...you only get the good rate if you have $50k+ in your account. i'm at schwab and they pay only 0.75%, but they also reimburse 100% of atm charges worldwide and have unlimited free checks with no minimums or fees.

great site. they actually list less than 10% of borrower applicants because their credit review is so tough. i've been lending here for awhile now and i'm getting about 11.52% on the loans i've made (less the 1% cut lending club takes).

best part is, they verify the borrower credit scores, incomes and their current debt and each lender can lend as little as $25 to someone to reduce the risk involved in lending. So 200 people might come together and lend $25 each to someone borrowing to consolidate $5,000 in credit card debt at 27%. Then they only have to pay something like 14% and you get to keep 13%. Everyone wins!

great site. just used it to renew my verizon contract with a free phone. the nicer phones aren't free, but the vast majority are. and if you get a clunker like mine (i like them 'cause they don't break as easily) you get $50-$100 after the rebate. :)