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[Navy-slush-fund]

good point Fitz, I got hammered on a good many " prime grade"  borrowers.

[Loan_shark_74]

For 3% it would be better to deal with a cash advance from a credit card.

At least there would be customer service, you could call and actually speak to someone.

 

Credit Cards are changing the fee to 4%.

[Beerbud1]

For 3% it would be better to deal with a cash advance from a credit card.

At least there would be customer service, you could call and actually speak to someone.

 

Credit Cards are changing the fee to 4%.

Link Please!

[brianguy]

For 3% it would be better to deal with a cash advance from a credit card.

At least there would be customer service, you could call and actually speak to someone.

 

Credit Cards are changing the fee to 4%.

Link Please!

yeah I'd like to read more about this...

[pjz]

Minimum credit scores from individual borrowers will be 640.

640 was the bottom end of the "C" credit grade.  Goodbye to the old "D" and "HR".   Good move.

C & D were by far the best cohort of borrowers, in my estimation.  Many students fit into this group, and they are/were (as I am aware) the most profitable group.

Basically the only way to garner value from Prosper is to find loans where the credit rating does not adequately reflect (exaggerates) the risk.  For instance, an individual with 2 years of credit history just starting his new job.  Then you're encountering a situation where your information is better than the bank's information, and that edge is a potential positive return.  Eliminating low Cs & Ds, while eliminating many poor borrowers, also cuts out some of the best value there is to be found on Prosper.

I do not know where you are finding value in C and D loans. 50% of all my loans below a B grade are late or defaulted.

ETA: I guess I should not argue with someone who has an Eric's ROI of 9.15%.