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LendingClub SMB Discounts, Deals and Coupon Codes

LendingClub: 100,000 miles with United.

1,978 772 November 30, 2017 at 10:04 PM Get LendingClub SMB coupons Coupons
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I got an offer from LendingClub to get up to 100,000 miles on United for transferring $100,000. Does anyone have experience with them? Is it possible to safely "park money" there for some time?

https://www.lendingclub.com/inves...erID=97831
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Joined Mar 2013
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#2
Quote from pkp413
:
I got an offer from LendingClub to get up to 100,000 miles on United for transferring $100,000. Does anyone have experience with them? Is it possible to safely "park money" there for some time?

https://www.lendingclub.com/investor/mileageplus
If you have $100,000 to invest, you probably shouldn't put it in LendingClub. P2P lending is terrible because you're lending to random strangers on the internet money in an unsecured way. You don't have a lien on their property so the only recourse is hoping that they care about not ruining their already atrocious credit - spoiler, they don't. You might as well just buy shares in a junk bond etf and not worry about picking new borrowers every month.
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Joined Dec 2015
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#3
Was your goal to transfer money to lending club and not invest it? That will not earn you the bonus points.
You could make or lose money using Lending Club but the money you invest may be tied up for 3 or 5 years depending on the notes selected. Seems like a lot of work and risk if the goal is just to earn the bonus points.
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#4
Quote from pkp413
:
I got an offer from LendingClub to get up to 100,000 miles on United for transferring $100,000. Does anyone have experience with them? Is it possible to safely "park money" there for some time?

https://www.lendingclub.com/inves...erID=97831
Personally, just I'd just sign up for a couple new CCards. Problem solved, less hassle, and less risk!
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#5
Good advice; thank you all!
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#6
Quote from pkp413
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Good advice; thank you all!
I am a Nigerian prince if you send me $100,000 I can fly you to meet me in in Nigeria free
and you can meet the king him self,
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#7
I'd also point out that United miles are typically worth about 1.5c each. Since you need to loan $100k, your total return would be about 1.5% (over what time period, I don't know). It'd be easier to just park it in a high-grade bond fund and not deal with the LendingClub risk factor.
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